Taxation

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Do you need professional assistance to file your income tax? All Australians who earn a tax-free threshold above $18,200 are required to file an income tax return as per the law. At WGR FINANCE GROUP, we are here to file a fast and efficient tax return on your behalf. Our wealth of experience allows us to provide the right guidance for tax planning and lodgement. We are here to make the whole process easy and stress-free. Our approach includes:

• A thorough analysis of your financial situation.
• Detailed reviewing to identify tax-efficient opportunities.
• Preparing your income tax return securely. 

GST

According to ATO guidelines, every business with an annual turnover of over $75,000 must be registered for GST. What exactly happens is that when you sell your products and services, you are actually collecting the GST on behalf of the government. On the other hand, a business pays GST when purchasing products and services to be used in your business. 

BAS

BAS is the official record of the GST a business collects and pays. In a lot of cases, a business doesn’t have to pay all of the GST they collect because the GST you pay in business purchases is offset against the GST a business collects.

BAS needs to be recorded and lodged with the ATO. The ATO has different reporting times – monthly, quarterly, and yearly – on the basis of business and turnover. In Australia, most businesses choose to lodge their BAS quarterly.

ABN is registered as a sole trader, so you are treated as individuals for tax purposes, you can file your expenses and income in your individual tax return. Individual taxpayers and sole traders pay the same tax at the individual tax rate. Time to time the rates get changed so you need to stay updated on the year you are reporting on. It is always advisable to seek advice from your tax advisor for income tax returns.

 Liaising with the Tax Office, ASIC, and Banks

To fulfill your taxation and bookkeeping requirements, WGR FINANCE GROUP  complies with all ASIC and ATO requirements on your behalf. We prepare all financial statements and reports for your company entities. Our liaising packages include financial accounts, compliances with ASIC, ATO, and other external bodies, tax planning, and tax returns at a reasonable price. 

• Preparation and lodgement of tax returns
• Preparation and lodgement of BAS and IAS
• Tax planning and business structuring
• Capital gains tax
• Payroll tax return
• Superannuation compliance
• Liaising with Tax Office
• Liaising with State Revenue Office
• Liaising with the ASIC
• Liaising with the banks and external bodies
• Tax return audits and reviews