Bank reconciliation: Our team conducts regular bank reconciliations to ensure that your bank statements align with your financial records, identifying any discrepancies and ensuring accuracy.
Journal Transaction Recording: We meticulously record all financial transactions, including income, expenses, and other financial activities, ensuring your records are accurate and up to date.
Payroll processing – Single touch payroll (STP): Let us take the hassle out of payroll processing. We offer comprehensive payroll services, including payroll processing and employee record maintenance. This is filed through Single Touch Payroll (STP) which is a way of reporting your director and employees’ salaries, tax withheld and superannuation to the ATO digitally.
Our SMSF Services Include:
SMSF Setup and Structuring: We assist you in setting up your SMSF, ensuring compliance with regulatory requirements and optimal structuring for your financial objectives.
Administration and Compliance: Our team handles all aspects of SMSF administration, including record-keeping, financial reporting, and compliance with ATO regulations, so you can have peace of mind knowing your fund is in good hands.
Investment Strategy Development: We work closely with you or your financial advisor to develop a customized investment strategy aligned with your risk tolerance and retirement goals, helping you maximize returns while minimizing risk.
Tax Planning and Optimization: With our expertise in tax planning, we help you optimize your SMSF's tax position, taking advantage of available deductions and tax-saving strategies to maximize your retirement savings.
Pension Management: Whether you're considering starting a pension or already receiving pension payments from your SMSF, we provide guidance on pension eligibility, payment strategies, and compliance with pension rules.
Audit: We have a trusted professional external auditor whom we send your accounts to get independently audited in accordance with SIS regulations.
We work closely with BMT Tax Depreciation to ensure that every deduction is maximised and this can be achieved with a depreciation schedule. Depreciation is a non-cash deduction, meaning you don’t need to spend any money to claim it. You can claim back thousands on your investment property every year on the wear and tear of the structure of the building and the fixtures and fittings within the property. Furthermore, the schedule lasts forty years and the fee is 100% tax deductible. To request a quote, please visit their website.
With government revenue authorities increasingly using data matching and artificial intelligence, they can compare disclosures made in your lodged tax returns to those of other taxpayers or benchmarks. If this escalates to an official audit, inquiry, investigation or review, our costs in defending your position can accumulate quickly, regardless of whether any adjustments are made to your returns. It is for this reason; we offer our Audit Shield service which covers payment for our professional fees incurred (up to predetermined limits).
Anyone can be targeted, even if your claims are legitimate. With the ATO increasing the level of audit activity of taxpayers, we offer you the opportunity to protect yourself with Audit Shield. The fee is also claimable as a tax deduction.
