Tax and Superannuation

Tax Returns


At  we complete various types of tax returns from simple tax returns to complex business and investment structures. 


As each of our clients needs are different, phone us to discuss your individual needs.

SELF-MANAGED SUPER FUND 


We can assist with the maintenance and administration of self-managed superannuation funds (SMSF). Our role includes account creation, reporting and specific document creation to maintain the SMSF compliant status.


But we do not stop there! We also tax plan and complete yearly compliance reviews of our clients SMSF. This will give you peace of mind that you SMSF’s will stay compliant and are tax effective.


We understand that the documents required for the auditing of a SMSF can be overwhelming. This is why we run a SMSF specific software called Class Super. Clients are encouraged and supported to provide documents electronically, when they receive them, to make the process easier. 

TAX PLANNING


One important aspect of building wealth is managing the tax effects of that wealth. Our ethos when planning for tax is to make sure you pay the right amount of tax at the right time. We like knowing that the necessary tax has been paid and so we make sure that spending is equally matched by taxable income. Division 7A loans are used but are not allowed to accumulate as they commonly create a long-term detrimental tax issue.


Strategies are designed to be simple and easily understood and commonly include the use of trusts, companies and super.

Tax planning that we complete includes:

  • Yearly trust distribution minutes
  • Tax on business profits, including profit retention or protection strategies
  • Long term tax planning for retirement
  • Succession planning
  • Estate planning

TAX ADVICE


Getting the right tax advice at the right time can create significant short and long term tax benefits, let alone the piece of mind that it creates. At Taxation Management Services we pride ourselves on providing a range of advice from quick responses to questions to detailed written tax advice.


Some of the tax advice we provide includes:

  • Small business CGT concessions (For the sale of a small business)
  • Small business restructure concessions (To make a small business ready for investment)
  • The application of the main residence exemption
  • Effects of subdivision and tax
  • Personal Service Income v business income


TRUST ADMINISTRATION 


Trusts are one of the most flexible and valuable tax structures that Australia has to offer. If administered correctly, they provide the trustees the ability to choose who, or what will benefit from the income of the trust from year to year.


We assist with this administration through the creation of distribution minutes, accounts, and the tax returns. If the trust is an investment trust, we also can automate the supply of the information using the Class Trust system. This takes the hassle out of keeping records and keeping complaint. 

BAS and PAYG


We assist with various forms of BAS lodgements. From GST returns for businesses and rental properties, to PAYG Withholding lodgement for employees. We even can complete PAYG instalment estimates to reduce the risk of large tax debts at the end of the year. 

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