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Tax compliance keeps you astutely aware of all local, state, federal, and international tax laws and regulations. This is extremely important for all businesses looking to remain compliant with these requirements, and to continue doing business unimpeded.
Tax compliance requires diligence and proactive work throughout the year. We are always up to date with legislative changes and Australian Tax Office policies.
We can help with business tax returns and payroll tax, and we also specialise in small business tax.
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At Liston Newton Advisory, we take pride in helping business owners get more out of their hard work. Our downloadable guides can give you an in-depth look at strategies and technologies that will help your business grow.
We have over 40 years of experience and we work diligently every day. You can rest assured you're in safe hands for tax compliance.
We provide a full range of financial services, including year-round accounting, tax planning, and tax compliance.
Effective financial services require an understanding of your business and goals. We're with you on the journey for the long-term.
Staying up to date is essential for tax compliance. We take the time to fully understand any changes in tax policy so you can get the full benefits.
Everything we do is designed to help you meet your business goals. We do tax planning throughout the year to ensure you're where you want to be on July first, and we ensure tax compliance every step of the way.
Our team is committed to providing the best financial advice and services you'll find anywhere. We can help you reach your goals.
Our team can even travel to your premises to consult with you face-to-face. It's all part of our commitment to our clients.
We have worked with Liston Newton's Accountancy and Advisory Team for over a decade. During that time, our business has grown substantially both organically and through purchases. This wouldn’t have been possible without Liston Newton Advisory to assist with our business planning, providing proactive advice and ensuring our accounts were always compliant in a complex and volatile industry.
Liston Newton's Accountants analysed our financial and business situation and helped us implement strategies to improve our position. Their strategies turned our business from making a loss, to recording a 6-month net profit of 36 per cent. And we are now on track to show a 240 per cent increase in turnover over the next financial year.
Liston Newton helped us move our accounting over to Xero. Their Accountant managed the set up and training so we felt comfortable with the software. We now have all our processes streamlined which gives us improved visibility of our business performance. This has allowed us to open 2 more stores without a significant increase in administration effort.
Tax planning and compliance requires an understanding of what you're trying to achieve as a business. We take the time to understand your goals and the stage your business is at so we can give you the best advice.
We have developed a unique approach to accounting and financial services which uses your short and long-term goals to inform our advice and services. We call it Get Set, Get Moving, Get Free.
We are qualified and capable of providing the tax advice you need.
We restructured Papermill Media and moved them to cloud accounting. Papermill was listed at number 43 in the Australian Financial Review's Fast 100 List in 2017.
Take a lookWe have helped Cambridge Plumbing to manage and forecast cash flow. We've also provided the director with advice on wealth creation and asset allocation.
Take a lookAfter helping them transition to Xero, we conducted quarterly business coaching with Quality Energy and helped increase their profits by 90 per cent.
Take a lookDon't worry about the tax office knocking on your door, we have you covered.
This depends on various factors. The easiest way to find out is to contact your tax agent directly and they will be able to provide you with the due date directly from the Australian Taxation Office.
There are various due dates, but if you lodge a tax return through a registered tax agent, you have an extension until the 15th of May. If you are not going to lodge through a registered tax agent, then your tax return will be due on the 31st of October.
Once a refundable tax return is lodged, it usually takes the ATO 10 to 14 business days to issue the refund. Your refund will usually be paid straight into your bank account.
As with most things, some hiccups can occur and the time frame could be extended. Some reasons why the refund might be delayed are:
If you lodge through a tax agent, they will usually be able to check the status of your return with the ATO, and when the refund is expected to be paid.
It depends. The general rule is that the law requires you to keep any tax records for five years after the tax returns are lodged. For a company, the Corporations Act 2001 requires receipts and records to be kept for seven years. For a superannuation fund, some records may need to be kept for ten years.
However, in addition to this general rule, there are some special rules that relate to record keeping for particular cases.
The types of records to be kept is a broad topic. However it can be summarised into these categories:
Any of the above records that need to be kept must be accompanied by an associated receipt or evidential documentation. Financial records are allowed to be kept as an electronic copy.
If you earned any income during the year, then you will most likely need to lodge a tax return. If you are a non-resident for tax purposes, then you may still need to lodge an Australian tax return if you earned income from a source within Australia.
There are various factors which contribute to whether or not you need to lodge a tax return. The general rule is to assume you need to lodge a return unless you receive professional advice that you don’t need to.
Speak to our expert BAS accountants to ensure compliance for your lodgement and BAS return.
