Complicated individual tax reporting and advisory
We believe that the best way to help our clients reduce their residency and property tax liability is by being proactive. We offer a series of comprehensive services, all designed to address nearly every residency and property tax issue, from return filing and value negotiation to investment valuation and exemption analysis. Our services cover:
- Tax residence
- Rental Properties
- Non-commercial loss
- Personal service income
- Overseas income
- Common reporting standard
Private business
In Family Businesses, we address the taxation issues relevant to family businesses that may be small to medium companies, partnerships, trading trusts and sole traders. Family businesses often are given tax breaks not available to large businesses such as the small business capital gains tax concession available when a business is sold. Our taxation specialists assist you with tax issues relating to primary producers such as special tax deductions for farm expenditures and the income averaging rules will be examined to ensure that you are taking advantage of the tax benefits relating to family businesses.
- Bookkeeping and Cloud accounting implementation
- Income tax
- GST
- Small business CGT concession
Tax Investigation and Mitigation
The complexity of Australian taxation law means that it makes sense to take a proactive approach to reducing tax risks. While the Australian taxation system largely relies on self-assessment and voluntary compliance, the Australian Taxation Office has increased its investigation activity in recent years.
Our Tax auditing team can help you navigate the taxation laws to identify any compliance issues faced by your specific business. We’ll reduce your risk of non-compliance, help prepare your business for a potential ATO investigation and, in the event of an audit, liaise on your behalf. We have very successful experience in dealing with ATO and OSR for our Chinese clients and have significantly reduced our client’s tax penalties and claims.
By drawing on the experience of our team, compliance risks can be identified and resolved earlier. We can serve your business in many ways:
- undertake a tax risk assessment
- ensure your documentation and record keeping is adequate, particularly in relation to transactions subject to ATO audit scrutiny
- deal with the ATO on your behalf during the investigation
- manage the audit and objections procedures
- negotiate the best solution for your business in the event of investigation
- Working with our special counsel as a team to deal with AAT appeal
Family tax structure and asset protection advice
Streamline your finances by accessing a range of services, under one roof, at an affordable rate. Our unique Family Office model gives you access to a complete array of financial services, all through your personal adviser. Behind the scenes, a team of specialist advisers will analyse your finances in depth, identifying opportunities for you to grow your wealth. This will all be overseen by your key relationship manager, who will be your primary point of contact and will help you implement a sustainable financial strategy.
Common Reporting Standard (CRS) Advisory for both China and Australia
The first tax information exchange program between China and Australia will commence on 30th September 2018. All financial accounts information for non-Australia tax residence Chinese will be exchange to the International Taxation Department of China National Beaurea of Taxation automatically. All personal accounts which more than aggregated deposit of 1 million Australia Dollar will be impacted. Other than allocating assets in Non-CRS countries, which has no mature financial market, it is impossible that the assets can be hidden.
Our team liaison with the key organization in China who design and implement CRS reporting structure and we have a strategical relationship to help our clients assess their position and risk. Our unique approach to our client to deal with their CRS matters including:
- Historical tax due diligence assessment in China and Australia
- Strategical planning for tax residence determination, assets allocation and reporting strategy
- Ongoing review of clients’ tax implication for all assets allocated under the CRS regime
Self-Managed Superannuation Fund
Self-Managed Superannuation Fund is one of the most efficient structures for secure assets and tax saving. We are specialised in consolidate with clients’ SMSF with their family business and reaching the most efficient tax and assets protection structure. SMSF is under the “SIS Act†and ATO’s close monitoring, any minor non-compliance event may trigger a bad result to clients. To be able to manage the SMSF, the advisor require both updated professional knowledge and very strong commercial sense.