Tax and GST compliance, Geelong

Australia’s tax system is a complex one and compliance requirements and costs for small businesses have risen substantially over the past decade. Indeed, many small businesses do not have the necessary resources to deal with new regulations, compliance issues and the greater risk of penalties for failing to comply. To ease the compliance burden, seek the advice of Geelong taxation specialists, CD&G Accountants. Our advice is to get tax advice early.

CD&G Accountants will work with you to understand your business and to ensure that you keep and have on hand all the required records to continue to operate your business with the least amount of disruption and additional work.

Our Geelong tax compliance services include:

  • Preparation of accounting records and accounts
  • Preparation and lodgement of business and instalment activity statements
  • Preparation and lodgement of income tax returns.

Goods and services taxation (GST) compliance can also be a major headache for all businesses, and in particular for small businesses. If you are a GST-registered business, you will need to issue your customers with tax invoices, collect any GST owing and send it to the ATO with your BAS. You need to register for GST if your business turnover is $75,000 or more ($150,000 or more for non-profit organisations).

The importance of GST compliance cannot be overestimated. The cost to small business of meeting its GST tax compliance obligations is as high as nearly 60 percent of all total compliance costs. With such high costs being involved with compliance, it is vital to be 100 percent compliant with all ATO requirements so that penalties are not incurred.

As a part of our GST services, CD&G Accountants will also ensure that your business is receiving the full amount of GST credits owing from the ATO.

CD&G Accountants offer GST advice to businesses throughout the Geelong region to ensure that your tax compliance and GST compliance is up to date and any obligations have been met. Contact our friendly team today.