Do you find yourself dreading the preparation of a business tax return?
Whether you’re a small business owner, sole trader or run a large company with many employees, trying to understand your tax obligations can be confusing and even overwhelming as the Australian business tax environment is governed by constantly changing and growing legislation.
At Crest Accountants on the Gold Coast, we don’t just prepare business tax returns, we ensure that your business complies with all the relevant rules and regulations, and at the same time we also ensure that we legitimately minimise your business tax liabilities.
Below are examples of current business tax options that impact on Australian businesses and these are just a few of the types of issues that we will advise you on to ensure that we legitimately minimise your company tax liabilities.
Instant business asset write-off – An instant asset write-off allows small businesses (with an annual turnover of less than $500 million) to claim immediate deductions (up to an amount of $150,000 for new or second-hand plant and equipment asset purchases such as vehicles, tools and office equipment.
Claiming depreciation of business asset – A depreciating asset is an asset that has a limited life expectancy (effective life) and can reasonably be expected to decline in value (depreciate) over the time it is used. Generally, you can claim a deduction for the decline in value of depreciating assets each year over the effective life.
Prepaid expenses – Businesses with a turnover of less than $10 million can claim an immediate deduction for prepaid expenses of up to 12 months. Making these prepayments, means you can bring forward your deductions and reduce your tax liability for the current financial year.
Business account and loan expenses – In some cases, you can deduct the interest paid on any form of business finance from your taxes. Such forms of finance include business loans, lines of credit, and your business credit card.
Deductions for personal super contributions – If you made personal superannuation contributions during the year to a complying super fund or a retirement savings account (RSA) you may be able to claim a deduction for those contributions.
Putting your tax return (whether it be an ABN tax return, sole trader tax return, small business or large company tax return) in the experienced hands of Crest Accountants will give you peace of mind whilst you focus on more important things, like the running of your business.
Company income tax returns are just one of the accounting services that Crest Accountants offer.
Through generations of business success stories, our Gold Coast business accounting team has honed a system that delivers practical wealth solutions backed by personal peace of mind. With business accounting and taxation specialists who provide expert advice through transparent relationships built on trust, we can help you with all your business tax return needs – and all your other accounting needs as well.
In relation to a company, small business, ABN and sole trader tax returns, we don’t want you to dread tax time, we want you to feel at ease knowing we’re here to help you with your business tax returns.
Contact us at Crest Accountants on the Gold Coast today to find out how we can help with your business tax return and minimise your tax liabilities.
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As the sole director of a SMSF with a Corporate Trustee in place, I transitioned to Crest Accountants in 2017.
I am very happy with the professional relationship developed with Joanna Crandon. She is very approachable and always willing to explain any queries I have from time to time.
The Super Fund’s paperwork is kept up to date and any work required is diligently and promptly attended to.
The customer service I received is exemplary. Thank you, Joanna.
Wesley from Crest Accountants has been looking after all our Accounting , Taxation and Financial Advice both personally and Business since 2014 .
I have found the Crest Accountants team to offer exceptional service and a professionalism. Care and attention to details is of high priority .
We have no hesitation in recommending Crest Accountants for your business and personal financial advice and accounting needs.
Wesley is always available to share his knowledge and expertise.
Mary Sarroff – Co-Founder – Sarroff Group
I have partnered with Crest Accountants for quite a number of years now. I guess one of the most valuable things to me as a business owner - apart from good smart accounting - is the fact that Crest are proactive in their support of my business.
Crest Accountants stay on top of things globally, nationally and locally in terms of what I need to be made aware of.
I liaise mostly with Troy who genuinely takes an interest in the wellbeing of both myself, and the health and growth of my business. He tends to see ‘big picture’ and that has been invaluable to me over the years. This will be even more essential as we begin to navigate higher volatility levels resulting from increased global instability in the seasons to come.
Matthew Williamson – Director – HT Concepts Pty Ltd T/as Nursery and Garden Supplies
Justin Fahey has been incredibly professional all the way through the process and I would like to express my appreciation! Justin made it easy for me to provide the required information about my cryptocurrency and his confidence & great knowledge is impressive. I will certainly choose CREST to look after my future tax returns and will highly recommend Justin to any person who needs help with cryptocurrency taxation. Thank you!
“I've been using Crest accountants for 5 years & it's always a great service. Every year whenever I'm ready, I send my files through their convenient WeTransfer program and write any comments. I've never had to go into the office been able to do it all conveniently from home at anytime I want. Excellent & efficient service every time.”
“I recommend using Brett and Wes to handle any accounting matters on the Gold Coast and surrounding areas. I have worked closely with them on my personal and business matters. I find them to be very thorough, professional and can endorse their ability to others.
Great Work Crest. Thanks for your ongoing support.”
“Growing a business is never easy which is why we approached Crest. We have been using Crest for the past 2 and half years and all we can say is thank you!
Ryan and the team have always provided professional advice. The advice is thorough and has always taken into account the pros and cons, especially from a Risk's perspective. We have been able to establish an efficient business structure which allows us to minimise tax where possible while working towards quarterly targets to grow the business. Without Crest, our understanding of the business would not be where it is today.”
FUKU Japanese Broadbeach Restaurant
“Recently I came on board as a client and cannot recommend Angela highly enough. To date, my experience with Angela and the team has been fantastic and I would not hesitate in providing a referral. I have been impressed with the prompt return of calls and emails and have had all work completed within our agreed time frames. The valuable taxation and small business advice I have received has been incredibly useful and provided me with support and guidance on my personal and business journey. If you are looking for a Tax Accountant or Advisor, don't hesitate in making the move over to Crest.”
Lauren Gregory – Innovative Bean Counting
“I highly recommend Crest Advisors. I have been working with Crest for 4 years and they assist me personally and my business in several areas including Cashflow forecasting, tax planning, business structuring, BAS, Finance, Insurance and SMSF. They provide excellent services and will help you achieve your personal and business goals.”
Jed Newnham – Managing Director of Newnham Scaffolding
“Crest are fantastic accountants that go above and beyond in helping to keep our business run smoothly. We have been with them for the whole time we have been in business and each and every member of the team is accessible at anytime and have always gone out of their way to supply the information we need. Thank you for your great service!”
Shane and Kristy – Gold Coast Fresh Meat Centre
“Crest Accountants...we cannot recommend them highly enough!! Throughout the years Wes and his team have supplied us with their expertise and wonderful service. With a genuine concern for you and your business they are professional yet very comfortable to work with. We are grateful for their service and continue to look forward to working with them in years to come. Thanks Crest!”
Carree and Brett Pawson – Brett Pawson Metal Roofing
“I have partnered with Crest Accountants for quite a number of years now. I guess one of the most valuable things to me as a business owner - apart from good smart accounting - is the fact that Crest are proactive in their support of my business.
Crest Accountants stay on top of things globally, nationally and locally in terms of what I need to be made aware of. I liaise mostly with Troy who genuinely takes an interest in the wellbeing of both myself, and the health and growth of my business. He tends to see ‘big picture’ and that has been invaluable to me over the years. This will be even more essential as we begin to navigate higher volatility levels resulting from increased global instability in the seasons to come.”
Matthew Williamson – Director – HT Concepts Pty Ltd T/as Nursery and Garden Supplies
"Troy and the Team at Crest Accountants always are a pleasure to deal with.
My tax scenario was very complex however it was really relaxed and easy to chat it through.
It feels so good to have it all back on track."
"Since 1996, I’ve entrusted the firm and its staff with my personal and business-based financial affairs. Their expertise, guidance, and comprehensive ‘on-tap’ counsel have been invaluable to all aspects of my accounts and financial management, and both the partners and accountants have worked tirelessly to keep the many elements of my financial matters on track, and in my best interests."
Dr. Dimitri Kopanakis – Managing Director - String Central Pty Ltd
“Crest Accountants have been our accountants and financial advisors for 15 years. We have found them to be reliable and competent and have placed great value on the many suggestions they have made to us in this period which include: Company and Superannuation Structuring; Financial Planning; Budgeting and Taxation Strategy. They have been pro-active to any legislation changes and have advised well in time to make such changes which are necessary for compliance and protection of our company. We can recommend them to any company wishing to make use of their services.”
Lynn Flynn – General Manager - Protea Properties Pty Ltd