As a fully integrated CPA Practice, United Accountants Group provides complete accounting and taxation solutions.
We provide clear, practical taxation advice and planning along with preparation of financial statements and management accounts. All work is tailored to your specific circumstances and needs.
Individual & Business Taxation
Regardless of whether it is an individual or a business, if you have had some form of income throughout the financial year, then you will most likely be required to lodge a tax return.
We can minimise your costs by assisting you in paying the correct amount on time and taking advantage of any exemptions that you/or your business is entitled to.
Self-managed Superannuation Funds
Self-managed super funds (SMSFs) are a way of saving for your retirement. The difference between an SMSF and other types of funds is that the members of an SMSF are usually also the trustees. This means the members of the SMSF run it for their own benefit and are responsible for complying with the super and tax laws.
We provide our clients with the necessary services that will establish and manage their SMSFs.
Trusts
A trust is an obligation imposed on a person or other entity to hold property for the benefit of beneficiaries. In legal terms, a trust is a relationship not a legal entity. Trusts are widely used for investment and business purposes.
In simple terms, the owner of property such as money, real estate or shares creates a trust over the property by declaring it must be held for the benefit of a beneficiary. The owner (referred to as the settlor) appoints themselves or another party to be trustee. If the settlor is not the trustee, they transfer ownership of the property to the trustee.
We assist our clients in the establishment and ongoing management of their respective trusts. Our services include:
Preparation and execution of your trust
Attend to the special requirements involved in reporting for trusts
Investment monitoring
Income distribution
Taxation
All forms of trust administration
Bookkeeping
We take the stress out of bookkeeping for you. We’ll discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
We provide a variety of bookkeeping services for our clients, including:
Accounts payable and receivable
Billing
Payroll
Monthly and quarterly taxes
Bank reconciliations
General ledger entries
Monthly trial balances
Business Activity Statements
Business Activity Statements (BAS) are required in order to report and pay a number of tax obligations, including GST, pay as you go (PAYG) instalments, PAYG with-holding and fringe benefits tax. Individuals who must pay quarterly PAYG instalments are also required to submit Business Activity Statements.
It is essential that your Business Activity Statements are completed accurately and lodged on time.
As these statements are personalised to each business or individual, we will prepare your monthly, quarterly or annual Business Activity Statements.
Business Start-up & Advice
Setting up your own business can be an exciting time. Before you start, save yourself time and money by being aware of what’s involved in running a business.
Investing time into proper planning is key to turning your dreams into reality. Operating a business is not just about working for yourself, it’s also about having the necessary management skills, industry expertise, technical skills, finance and of course a long-term vision to grow and succeed.
When establishing a business, the most important decision is the decision as to what type of legal structure you select for your business. Each and every structure (sole trader, partnership, private or public company or a trust) provide alternative advantages and disadvantages. This decision will not only impact upon how much tax your business pays, but it will also dictate the amount of bookkeeping and accounting that will be involved, not to mention the level of liability that you face. As such, establishing a business is a significant decision that warrants thorough investigation and planning.
We will provide you with business plans that are tailored to your personal circumstances, the industry you wish you work in and that will generate the most advantages to you. Furthermore, it is important to verify what your personalised tax and superannuation obligations will be and whether business registration is obligatory.
Tax Planning & Advisory
You have the right to arrange your financial affairs to keep your tax to a minimum – this is often referred to as tax planning, or tax-effective investing.
Tax planning is legitimate when you do it within the letter and the spirit of the law. However, some arrangements attract our attention to determine whether or not they are lawful. We can provide support in establishing a plan that is executed within the Australian Tax Offices legal guidelines.
