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KT are here to make Accounting and Taxation easier for you. KT Accounting & Taxation Services include but are not limited to:
Income tax returns
All individuals are required to complete an Income Tax Return. It is a necessary document which states income, deductions, contributions and related financial information. This information is then used to assess tax accurately. Please ensure you have your tax file number as well as all financial documents and records for the year. it is your responsibility to lodge your Income Tax Return every year on time. KT Accounting & Taxation can make this a painless process. Once we have done our part the Australian Taxation Office (ATO) will process your tax return within two weeks (if lodged electronically), and you should receive a 'notice of assessment and refund' in the mail. Remember to keep your documents for 5 years as you may be audited by the ATO at any time in that period.
Preparation of financial accounts for sole traders, partnerships, companies and trusts
Financial accounts are often presented and examined by shareholders, banks and other interested parties in your business. It is a necessity for companies listed on the stock exchange and other companies who are required to prepare financial statements. KT Accounting prepare these accounts in accordance with the established and expected world wide standards and formats. As well as the external parties most businesses also need to look at their accounts internally, this ensure that the financial progress is examined and acted upon. Cash flow needs to be analysed on a regular basis in todays dynamic business world. Management often use internal accounting as a tool to see where the business is not profitable, even down to individual jobs.
Preparation of Business Activity Statements (BAS) on a monthly or quarterly basis
Business Activity Statement or BAS is used to report and pay GST, PAYG (pay as you go) and fringe benefits tax. These statements can also be used by individuals who pay quarterly PAYG instalments. Look for the due date in the top right-hand corner of your activity statement. You can often made to pay your tax debt over an extended period however this needs to be arranged. Again be sure to keep your business activity statement and records used to prepare it for five years.
Help and advice setting up your business
Unless you are an expert in accounting, tax and finance it is likely you will need to employ an accountant when setting up your business. KT have vast amounts of experience in this area and have assisted many companies to do this over the years. As experts in this field we can ensure that you are aware of all requirements and that your accounting and tax obligations reporting runs smoothly. This allows you some peace of mind and the ability to focus back on the strategic or day to day running of your business. As your accountant we are focused on saving you money and adding value to the accounting process. We should also allow you a better insight in to your business so you can make informed decisions.
Business maintenance
Accounting is an ongoing process in all good businesses. You will have regular contact with an experienced Chartered Accountant who will oversee your books on a monthly or quarterly basis. We will assist with MYOB systems including assistance with installation and setting up charts. We can even assist with payroll.
Please give us a call to speak to one of our friendly team at KT. We really are here to make accounting and tax easier for you.
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