TAX ADVICE & TAX TIPS
Tax Accountant Sydney
Take the Hassle Out of Tax Season with a Tax Accountant in Sydney
From tax advice to payroll, a tax accountant in Sydney will assist you with all your financial needs. Not everyone is number savvy, and at times you’ll need a tax accountant in Australia to help you with your finances. Oke Financial Services provides you with everything you need regarding all aspects of annual financial statements to your business structuring. We not only assist businesses but individuals as well. When it comes to tax season, more than a few people require our assistance with submitting their tax returns to ensure correct completion. Even when you can submit your return, you might not want the hassle of pouring over receipts and financial records. Let a tax agent in Australia take the weight off your shoulders.
Benefits of Hiring a Tax Agent in the Sydney CBD
When you hire a tax agent in Sydney, you are not only hiring them for the service they provide but also for their knowledge regarding tax laws, submission dates, and for their advice. When it comes to submitting tax returns, you want someone who will take care of everything from A to Z. There are many benefits you can achieve through using a professional tax accountant in the Sydney CBD.
- Saves you time and reduces stress. When you run a business and tax season is coming up, you may find yourself under pressure, as not only will you need to deal with running your company on a daily basis, but you also need to get all your finances together for submission. Reduce your stress by hiring a tax agent to take care of your submissions to free up your time to focus solely on running your business while you have peace of mind knowing your finances are in professional hands.
- Reduces the chances of mistakes. Unless you understand the intricacies of tax laws and regulations, there is a chance that you may make mistakes when you fill out your tax returns. You could forget to submit certain documents or that you have a tax-deductible income. Your tax agent will know exactly which forms you need to complete and what supporting documents you must file. The last thing you want is to be penalised.
- You save money in the long run. Although you pay a fee to the tax consultant or consulting company, when you receive money from your tax return, the fees you paid will have eventually paid themselves, with money left over for your business. You will also avoid paying any penalties by either not submitting the correct documents or missing the submission deadline.
If you haven’t hired a tax agent yet, you will want to consider hiring one for this tax season to reap the benefits of their professionalism and knowledge. The agent will help you transition to using an outside source for financial advice and services as smooth as possible.
Common Mistakes People Make Regarding a Tax Accountant Melbourne
There are many mistakes business owners, and individuals make when hiring a tax accountant in the Melbourne CBD. Often, they don’t look at the bigger picture of hiring an accountant and assume that they will only require one for tax return submissions. Follow a few recommendations to avoid making future mistakes when it comes to your finances.
- Going cheap. Instead of looking at the cost of hiring a tax agent in Melbourne, instead, look at their credentials. We know that you want to save money, but ultimately hiring the cheaper option could cost you more. Should you wish to go one step further, you could ask other businesses in the area which financial agency they use. Nothing is better than word-of-mouth and speaking to people who have dealt with a particular agency.
- Hiring just for tax season. When you think of a tax agent in the Melbourne CBD, you generally think of tax season and returns. However, you can use tax agents year-round as they will assist your company when it comes to your finances. They can check your bi-annual reports and advise you on where you can save money when it comes to business taxes.
- Not hiring a professional. Be cautious when it comes to hiring a professional tax agent. Remember that a professional not only has the knowledge about how tax submissions work but also has the experience of dealing with another company’s finances. While you may have a friend or family member who submits their own tax returns, you may not want to hire them to deal with your business finances as these two types of returns are completely different and you cannot afford to make a mistake with your return.
Related Services We Provide to a Tax Accountant in Brisbane
While many people hire us as a tax agent in Brisbane, we offer our clients more services related to the financial sector. We aim our services at both business and individual needs, such as general accounting and financial certificates. Our staff are committed to expanding their knowledge and continuously keep up to date with the latest news and trends surrounding financial services.
- Advice on financial planning. A financial advisor is there to help you determine and achieve the long and short-term goals for either you or your company. Before you meet with a consultant, decide what you want to get out of the meeting, prepare questions and notes to ensure that you don’t forget to discuss a specific topic. It’s essential that you and your consultant mesh well. You both need to be on the same page regarding your future or that of your company. Remember to follow the financial advice you get to reap the full benefits of the service you are paying for; you can always go back to your advisor to tweak different areas of the plan.
- Preparation of statements. Your financial statements indicate how well your business is doing, and if you need to adjust any performance in a particular area of the company. If you haven’t had experience in preparing these statements, it could be inaccurate, which will not only have wasted your time but will cause you more stress. Hiring a professional accountant will take the burden off you while you receive accurate reports.
- Auditing self-managed super funds. To avoid any further legal complications, it is imperative to hire an accountant to audit your self-managed super fund. They will ensure that your funds are true and accurate, and you are compliant and ensure genuine transparency with the Australian government.
We are committed to providing our clients with quality services and knowledge which covers all diverse financial issues.
What You Should Know About Hiring a Tax Accountant Online
Not all business owners have the time to leave the office to meet with their tax accountant. With our new online services, you can easily keep track of your company’s financial situation in the comfort of your office.
- Online calculator. When you use our online tax calculator, you can estimate whether you will receive a return and how much you will get after submitting your income tax returns. You need to consider that this is just an estimation, and you may or may not receive the exact amount. The calculator will also give you an indication of what tax is payable based on your income.
- Downloadable forms. With our easy-to-access downloadable forms, you can conveniently fill out a tax return, which will result in a quick turnaround to receive any income return from your tax submission. There are many benefits to having access to these forms.
- Online appointments. With our services, you can now chat with a tax agent online, saving you the time of having to make an appointment and travelling to our offices to meet with us. We offer online meetings via video calls, Zoom, and Skype. No matter your device, you can gain access to our staff online.
Why Trust Oke Financial Services as Your Tax Agent in QLD
We offer our clients a vast range of financial services for both themselves and their businesses. When you use our knowledgeable employees to assist you with any of your financial questions related to taxation, preparing a financial report, or even Self-managed Super Funds, you can rest assured that you are receiving the best advice to get you are or company where you need it to be.
We have been in the financial services business for over 15 years, so when you work with us you can rest assured that you are in the hands of professional accountants. We are committed to building long-term relationships with our clients ensuring an open and honest partnership with them.
Contact us to book an appointment or for further information about our services.
DEDUCTIONS YOU CAN CLAIM
When completing your tax return, you’re entitled to claim deductions for some expenses, most of which are directly related to earning your income. To claim a work-related deduction:
you must have spent the money yourself and weren’t reimbursed it must be related to your job
you must have a record to prove it (there are some limited exceptions).
If the expense was for both work and private purposes, you can only claim a deduction for the work-related portion.
If you are claiming work-related expense deductions, you need to satisfy the following:
- You must have spent the money and were not reimbursed
- It must be related to their job
You must have a record to prove it. It’s important to remember that if you receive an allowance from an employer, it does not automatically entitle you to a deduction. You still need to show that you have spent the money and it was related to your job. ATO will be paying extra attention to people whose deduction claims are higher than expected, in particular:
- Car expenses claims for transporting bulky tools
- Internet and mobile phone
HOW TO LODGE MY BAS & COMPANY TAX RETURN
All you need is to contact with us, send us your Bank Statements for the period you want to lodge and our professional team will lodge it for you.