Tax Ideas at Sydney CBD Town Hall

If you're seeking a Good tax accountant and you've found us, and then there's a Good chance you'll uncover more tax benefits and get Good tailored accounting services.

Tax Ideas Townhall branch locates at the heart of CBD (Unit 10/528-534 Kent St Sydney) . We provide a wide range of accounting services covers all your tax and accounting needs. We make individuals' and business owners' life's easier.

Will Hou | Tax Advisor

How can we help

Tax Return

Consider us as an one-stop tax shop, guiding you through this mist of accounting and tax responsibilities, with the ultimate goal in getting you the Maximum Income Tax Return that you are entitled to. We streamline your Tax Return with a detailed review all your accounts records, if any anomalies or problems detected, we can provide alternative solutions such as defer payment of tax or set up a payment plan with ATO that works well with the situation in giving us to sort out the problems that occurs.

CGT Events Lodgements

Capital Gain Tax (CGT) refers to tax that levied on gains incurred from selling, transferring or disposing of assets and investments, in other words, assets that have been sold at a higher price than the original price.

The tax law for capital gains tax can be intriguingly vast and complicated, come reliefs and exemptions are subject to certain situation and conditions, which may be a significant tax savings in one case and tax liability in another.Capital Gains calculation is one of the most complex areas within accounting, please do come for professional advices and grasp a basic understanding of the consequence & implications in selling any assets that you think you want to now or in the future. As just for taking a precautionary step and measure in protecting yourself and in the meantime opening a potential opportunity for creating a Tax Savings Plan for yourself.

Superannuation Planning

At Tax Ideas Accountants & Advisers, we provide comprehensive support services for SMSF, from accounting to financial advice. If you are looking for more control on how to manage your SMSF, this is the right place to start as we act in your best interests. We can help you set up and monitor it to ensure that it meets compliance obligations.A Self-Managed Super Fund may sound appealing at first, however, if not handled properly, it could put you into a far worse situation in retirement.Irrespective of making a decision in switching to SMSF or you just simply would like to learn more about this area, it is important to get independent and unbiased professional advice from qualified accountants and financial advisers.

Net Wealth Strategy

We are licensed and experienced to provide financial advice to support and maximise clients potential with our experiences in different industries for 25 years. Enquire now to hear our model.This information may be regarded as general advice. That is, your personal objectives, needs or financial situations were not taken into account when preparing this information. Accordingly, you should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product.

New to Australia

If you just migrate to Australia and intend to reside here permanently, you are an Australian resident for tax purposes, that requires:You must declare income you have earned from anywhere in the world in your tax return.You can also claim the benefits of the Australian tax system, such as:The tax-free threshold,Tax offsets and a lower tax rates in general than a foreign resident.

Are you eligible for occupational tax benefits?

  • Developers and builders
  • IT professionals
  • Legal practitioners
  • Medical practitioners
  • Religious practitioners
  • Hospitality
  • Retailers
  • And more...

Bookkeeping

The Tax Ideas Accountants & Advisers provides reliable accounting services for businesses that tailored to any specific business needs. We can help you to maintain accurate records accordingly as for Tax & GST purposes. Regular management accounts include Individual Customer Account Balance, Supplier Account Balance, Payroll Account Balance, Miscellaneous Account Balance. We take away the hassle of bookkeeping and offer a fixed competitive fee that are payable on a monthly basis.

BAS Lodgement

Business Activity Statement (BAS) is a fact of your business life which can be either a monthly or quarterly basis. It summaries the Total Amounts of GST payable and receivable for a certain time, including PAYG and ABN withholding tax.Tax Ideas Accountants & Advisers can help you to identify the need to register GST at the outset and continue to monitor your tax return, so that we can ensure the compliance of current tax law. In addition, should there be a need to cancel your registration of GST for some reasons, we will notify you on a timely manner. In determining the most suitable GST schemes for your business, we also need to look at the type of business that you are in and the eligibility together, as some GST schemes may entitle you the right to a certain amount of tax savings.

Payroll

Tax Ideas Accountants & Advisers are here to help, for that we are fascinated by numbers and data, better at planning ahead in detailed reports on pay runs. Keeping track of superannuation schedules for all employees is a daunting task as it you can not afford to get it wrong.

Leave it to us as Tax Ideas Accountants & Advisers does your math and stay on top of all ATO and new rulings & requirements to ensure payroll is accurate and payment is made on time. We employ different ATO – approved software, Xero, each employee can edit their personal details, submitting leave, add & adjust their own time sheets. Towards the end of each week, weekly time sheet can be automatically locked in and submitted to you for review.

Year-end Accounts

Year End Financial Account is also of great importance as it is the main source for preparing company’s tax return at year end. Consequently, we will ensure that you are entitled to the right to the rightful amount of tax claim. Preparing a Year End Financial Accounts can be a daunting task, Tax Ideas Accountants & Advisersare here to make your life easier by taking over the task and carry out the Year-End procedure. We will make any necessary adjustments so that your Year End Financial Accounts agrees with financial statements.

FBT and Payroll Tax

As this is one of the more complex tax lodgements, many companies make incorrect Tax Return Lodgements due to not fully understanding what is Fringe Tax Benefits and how it is applicable to them. There are many different categories of Fringe Benefits Tax that you may not know about. Our professional and friendly team will also help you understand how Fringe Benefits Tax works, advise on available exemptions and help liaise with the Australian Taxation Office in relation to your Fringe Benefit Tax matters.

Our experts at Tax Ideas Accountants and Advisers can help you and your business understand Payroll Tax obligations, whether you are located only in New South Wales or all across Australia. By providing a single point of contact, we can help prepare and guide you through your payroll tax obligations alongside other taxation needs.

Business Plans

We will assist you with an tax efficient business plan to draw a compromising future with foreseeable profitability and present any other lending providers with a reliable image and a good understanding of your business.When you try to raise finance from investors, you should prepare a smooth accounting record to create a reliable image of your business financial structure. The Tax Ideas Accountants & Advisers can help you in managing your accounting records and present you with the right type of financial statements so that it will provide you with a better chance of achieving success when it comes to borrowing funding for your business.

Case Study

01

Challenges:

Mr Wong is a new migrant from HongKong. He has accumulated a decent amount of wealth overseas and came to Australia to enjoy the retirement life. He's worried about Australian tax burden on his existing asset portfolios after becoming Australian tax resident.

The Results:

We have reviewed Mr Wong's situation and implemented a series of preparation plans to minimise the future tax burden. He is now enjoying his Aussie life with a peace of mind.

02

Challenges:

We were completing Peter's individual tax return and 360 degrees reviewing his tax position as usual. We found Peter was paying enormous amount of insurances within his superannuation fund that he has no ideas of. Such a large amount of insurance premium is eating into his superannuation balance and can cause a serious issue when approaching retirement.

The Results:

We have completed a factor finder session and identified the real needs for Mr Smith. We have saved Mr Smith 30% insurance premium ($3,500) a year and made the premium structure more tax deduction friendly.

03

Challenges:

Mary would like to boost her superannuation balance, so she can use it to fund her future retirement. May has a fully paid off commercial property but she doesn’t have enough liquid cash to make any large contribution to her Superannuation fund.

The Results:

After completing the Statement of Advice, we have set up a SMSF and a custodian trust for Mary. Portion of her commercial property was transferred over as in-specie contribution while the rest is through LRBA with a related party borrowing arrangement. As Mary have engaged the full service, we have also requested the stamp duty on the transfer of property from $25,000 to be reduced to only $500.

Town Hall Branch

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Will Hou

I am a Tax Advisor, Business Advisor, Finance Professional

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Why choose us

  • Local to you
  • Fixed pricing
  • Transparent & friendly
  • Tailored solution
  • Smiles is our KPI
  • We give back to the society

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