Bookkeeping

Take the stress out of record keeping. Outsource your bookkeeping! What is a better use of your time?

1. Keeping your accounting records up to date?

2. Working on your business?

3. Spending time with your family?

4. Having fun in your spare time?

2, 3 and 4 sound pretty good to us.

We are very efficient at keeping your accounting records up to date using online accounting software. Sure, you will pay us a fee but you will get out of a boring task and you will get some of your time back. If you charge $100/hour in your business and it takes you 5 hours per week to keep on top of your accounting records, that is $500 chargeable time you are missing out on. Or alternatively, valuable fun/family time you are missing out on. What is your time worth to you? We don’t fix our car because we just aren’t very efficient or very good at it. Our time is better spent on bookkeeping and tax compliance. Your time is better spent on your chosen trade/profession/business.

SMSF Administration & Compliance

SMSFs are becoming more and more popular with an estimated total number of funds of over 580,000. Many people are realising the benefits of an SMSF including:

• Complete control over your investments and the way your money is invested
• Fees can be cheaper than a large superannuation fund or an industry super fund where you have in excess of $250,000 in your SMSF. Note, this is subject to the investments of the fund.
• No entry or exit fees other than the initial establishment of the SMSF
• Choose your own investment strategy
• Tax effective! 15% tax rate while in accumulation phase or 0% tax rate while in pension phase!
• We suggest having at least $250,000 combined in super before considering a Self Managed Super Fund.

We have expert knowledge on:

• Application, establishment and registrations
• Compliance with all regulatory requirements
• Audit
• Financial accounts and tax return preparation
• Assistance and advice
• Tax planning and development
• We work closely with a financial planner who can assist with insurance and overall wealth strategy advice.

Business Advisory

Income Tax Return Preparation & Lodgement

It is imperative that businesses meet their compliance obligations, ensure information is reported accurately and within the statutory framework. It is much more involved than filling out a number of boxes on a tax return. BTA Accountants team of experienced professionals are dedicated to understanding your business and industry you operate in to ensure that you minimize your tax obligations regardless of your structure. Whether it be a Sole Trader, Partnership, Trust, Company or SMSF we will get ensure that you get the best tax outcome and remain compliance without needless stress and hassle.

Business and Investment Structuring

Getting your investment or business venture established in the most suitable structure should be a deliberate and considered decision. The unintended results of getting this wrong can result in significant tax consequences.  Just as important, it may leave your personal assets and livelihood at risk.  We believe that it is imperative our clients understand the options available to them an understand not just the immediate consequences, but also what it will mean for them in the future whether it be expansion or exit and succession planning. We can guide you in your decision whether a sole trader, partnership, trust, company, SMSF or combination thereof will work best for you.

Accounting Software Training and Assistance

Our software gurus are on hand to help with your software questions. Need help with processing payroll? Need help creating invoices? Can’t work out how to create bank transaction rules? We can walk you through any software assistance either over the phone or in a face-to-face meeting.

We have partnered with:

• Xero
• Intuit Quickbooks Online
• MYOB Essentials
• Sage Business Cloud Accounting
• MYOB Accountright Live

BTA People Development

Are you having trouble finding and retaining the right employees?

We have a sister company that can help – BTA People Development.

At BTA People Development we assist you in the selection, training and development of outstanding people in your business. We can also mentor managers and business owners in the art of managing people.

Services include:

• Tailored Recruitment and Selection – 1 hour session – Initial consultation free
• Workplace Culture & Team Building – 1 hour session – Initial consultation free
• Training Excellence – 1 hour session – Initial consultation free
• Leadership Mentoring – 1 hour session – Initial consultation free
• Employee Retention – 1 hour session – Initial consultation free

BAS

Why spend the time on preparing your BAS and maintaining your accounting records, something you are not specialised in, when you could be out there earning income in your chosen profession, something you are efficient in? In economic speak this is called “Opportunity Cost”. Opportunity cost means a choice needs to be made between mutually exclusive alternative activities. E.g. You can either make income from your chosen profession or spend the time maintaining your accounting records. Often, it can make more economic sense to outsource your accounting, something we are efficient at, so you can focus on what you are efficient at, your chosen profession. Yes, you pay us a fee, but if the fee is less than what you can earn in your chosen profession then you are in front.

BAS preparation and bookkeeping includes:

• Data entry
• GST and inputs calculations
• BAS electronic lodgement
• General bookkeeping
• Quarterly profit & loss updates on request
• Income & expenses monitoring

By appointing us to prepare and lodge your BAS we will have all the required information to prepare your Tax Return at the end of the financial year. This means our fees for preparing your Tax Return may be lower. If you prepare your own BAS, our fees for tax return preparation may be higher as we will need to collect all the required information.

Accounting

Meeting the constant demands of employment or running a business is complex enough without having to navigate the Australian Taxation System.  At BTA Accountants we understand that while accounting and taxation compliance is necessary, it is also a costly drain on both time and funds. Our team of professionals partner with clients to ensure that they can minimize the time cost of compliance and also give them certainty with their tax related liabilities so that they can effectively manage cashflow.

SMSF Auditing

Looking for someone independent to audit your SMSF clients? We have two registered SMSF auditors with in excess of 20 years SMSF audit experience.

To the SMSF administration firms – our aim is to work with you and your clients to ensure your client’s SMSFs remain compliant. We have experience in SMSF administration and tax compliance so we understand both the accounting side and the audit side. We are very thorough regarding our audit process which has often resulted in better outcomes for your clients. In addition, we have liaised with the ATO regarding compliance issues as well as non-complying fund status which has resulted in good outcomes for affected SMSFs. While certain breaches must be reported to the ATO, we can work with you to ensure a plan is in place to rectify breaches or rectify breaches altogether so that we can notify the ATO that further action may not be necessary.

You can be safe in the knowledge that we have no interest in taking over the administration of your funds. Most importantly, our reputation in the accounting industry means a lot to us and setting fire to business relationships is not a great way to do business. Secondly, auditor independence prohibits us from doing both the administration and audit work anyway.

To the trustees of an SMSF desiring to appoint us as the auditor – know that we have experience in SMSF administration and tax compliance so we understand both the accounting side and the audit side. We are very thorough regarding our audit process which has often resulted in better outcomes for your clients. In addition, we have liaised with the ATO regarding compliance issues as well as non-complying fund status which has resulted in good outcomes for affected SMSFs. While certain breaches must be reported to the ATO, we can work with you to ensure a plan is in place to rectify breaches or rectify breaches altogether so that we can notify the ATO that further action may not be necessary.

QBCC Compliance

We have the expertise to undertake the following QBCC Compliance

• Annual turnover reporting via myQBCC
• Minimum financial requirements report (MFR) up to category 3
• Assistance with meeting minimum net tangible assets (NTA)
  • Deed of covenant and assurance & covenanter’s statement of financial position (also requires a solicitor)
  • Equity injection
  • Retained earnings management
  • Managing accounting basis profit & loss and balance sheet vs tax basis profit & loss and balance sheet
• Assistance with new company licensing and nominee supervisor

Contact us today if you require assistance with any of your QBCC compliance requirements.

Corporate Secretarial

We offer a complete corporate secretarial service so that we can maintain your company’s ASIC responsibilities and obligations. These services include:

• Annual ASIC company statements
• Change of company details including addresses, officeholder and shareholders
• Act as registered office and maintain corporate register

Deceased Estate Tax Compliance

Dealing with the death of a loved one is hard enough emotionally, let alone winding up their life affairs. As an executor of a person’s estate, you will be required to manage the finalization of the deceased’s tax affairs. While there are no inheritance or estate taxes in Australia, there are a number of tax compliance requirements involved regarding administering a deceased estate as an executor. We have the skills and expertise to guide you through the process of complying with the tax requirements of a deceased estate.

• Lodging final returns for the deceased person
• Applying for a deceased estate TFN
• Lodging deceased estate tax returns
• Advising on the tax consequences of various investment income and investment disposals (e.g. rental properties, main residence, bank interest, share dividends, business income etc)
• Advising on the tax consequences of deceased estate beneficiary distributions
• Dealing with the tax consequences of super payouts
• Dealing with the tax consequences of insurance payouts
• Testamentary trust establishments and compliance (if noted in the deceased’s Will)