Tax accountant Sydney

Yes, we can. As Sydney accountants, we work with business owners every day who want to keep on top of their obligations while not paying more tax than they need to. There are plenty of options within Australia’s business tax laws that allow you to claim legitimate deductions, improve cash flow, and, in some cases, boost the size of your tax refund.

Benefits of working through the options:

• You can line up your tax strategy with your long-term financial goals, so you’re not just looking at this year’s return in isolation.
• When you use the ATO’s own framework, such as the ATO’s tax deductions for small businesses, you can be confident the deductions are safe and above board.
• Professional guidance means you don’t miss opportunities that are specific to your industry or to operating in NSW.

Considerations to keep in mind:

• Not every deduction applies to every business, and overclaiming can cause problems if the ATO looks more closely.
• Timing matters: sometimes it’s better to defer or bring forward expenses depending on your position.
• You’ll get the best outcome when you sit down with a consultant who knows your business inside and out.

There’s no one-size-fits-all formula here. The right approach is about understanding your numbers and making sure the tax strategy fits the way you run your business. That’s where tailored advice makes all the difference.

High-income professionals often have tax positions that are far more involved than a standard return, and that’s where our team of tax accountants in Sydney can really add value. We act as tax experts who understand how personal tax interacts with investments, trusts, and international income. Because we’re based in the Sydney CBD, with access to our network of Sydney offices, we know the challenges faced by professionals working in demanding industries and earning across multiple streams.

What if I have income from multiple sources?

This is one of the biggest complications. A single person might be on a high salary, hold shares in a family company, and also receive distributions from a trust. Each source has its own reporting rules, and they need to be pulled together correctly. The risk isn’t just missing a deduction — it’s paying tax at a higher rate than necessary because the income hasn’t been structured well. We look at how each source interacts and make sure the reporting and timing work in your favour.

Can you help if I’ve worked overseas or have international income?

Yes. Tax residency rules are some of the trickiest parts of the law. If you’ve spent time overseas, your tax obligations depend on whether the ATO considers you an Australian resident for tax purposes. That affects whether your overseas income is taxed here or exempt. Having an agent in Sydney who understands these cross-border issues means we can map out scenarios before you lodge, avoiding costly mistakes.

How do I make sure I’m not missing deductions?

It’s not just about receipts. For high earners, deductions often relate to things like professional memberships, complex investment structures, or even interest expenses linked to income-generating assets. As Sydney business accountants, we go beyond the basics and apply the rules to the way you actually work and invest. That way, every legitimate deduction is captured while keeping your return audit-proof.

No two high-income professionals have the same financial profile. Tailored advice ensures your return is both compliant and efficient, and that your tax strategy supports the way you build and manage wealth over time.

As Sydney tax accountants, one of the most important conversations we have with business owners is how to line up their exit plan with their retirement needs. The right approach to accounting and tax in those final years can make a huge difference in how much you keep and how confident you feel stepping away from the business.

Here are the key steps we usually work through:

1. Review your structure:
   The way your business is set up (company, trust, partnership) shapes what happens when you sell or retire. An accounting firm that knows the rules can help restructure if needed, so you’re not caught out at the finish line.
2. Use available concessions:
   Small business owners may qualify for significant CGT concessions that reduce tax on a sale. Getting the timing and paperwork right is crucial if you want to maximise your tax outcomes.
3. Plan your super contributions:
   Contributions from the sale of your business can go directly into superannuation, and using specialist support like SMSF accounting advisors in Sydney ensures the contributions are managed properly and work within the limits.
4. Balance tax efficiency with lifestyle goals:
   Numbers aren’t everything. We look at how the strategy supports your day-to-day needs, from ongoing income to family commitments, so the tax plan is practical as well as efficient.

When you work with expert tax advisors in this space (like Liston Newton), you’re not just looking at today’s numbers. You’re setting yourself up for a retirement that feels secure, with the peace of mind that you’ve made the most of your years in business.

There are plenty of deductions that slip under the radar for small business owners. Working with accounting professionals who understand both business and personal income tax means you won’t leave money on the table. Here are a few we see overlooked most often:

• Superannuation contributions for yourself as an owner: Many small business owners forget they can make contributions and claim them, not just for staff but for themselves too. This can be a powerful way to reduce taxable income while building long-term wealth.
• Prepaid expenses and timing: Things like rent, insurance, or even supplier contracts can sometimes be prepaid and claimed in the current year. An experienced accountant who understands your industry can advise if it’s worth bringing costs forward.
• Professional services: Fees you pay for bookkeeping, tax lodgement, and other advisory services are deductible. That includes when you book a tax consultation to review your accounts.
• Every day running costs: Phone, internet, and home-office expenses add up. The key is keeping records and making sure you’re claiming only the business portion, so the deduction is clean and defensible.
• Smaller asset write-offs: It’s easy to forget the instant write-off rules. Items like laptops, tools, or office equipment can usually be claimed right away instead of depreciating over the years.

In practice, knowing which claims are valid comes down to trusted tax and financial advice. Small errors can attract unwanted ATO attention, while good guidance ensures you get the benefit of every legitimate deduction.

Yes, we can. Tax residency is one of the trickiest parts of Australian tax law, and it makes a big difference to how your income is assessed. Our role as Sydney tax accountants is to explain the residency rules clearly, apply the latest tax guidance from the ATO, and make sure your financial situation is reported accurately.

Residency status affects everything — from whether overseas earnings are taxed here, to whether you can claim a deduction for certain expenses, to the way capital gains are treated. The ATO applies a series of tests, including tax residency, domicile, and the 183-day test. Each of these looks at factors like how long you’ve been in or out of the country, where your home base is, and where your family and assets are located. It’s not always black and white, which is why so many expats run into confusion.

We also examine practical issues, such as lodging a return as a non-resident or part-year resident. The rules around withholding tax, offsets, and access to the tax-free threshold can be different, and small errors can cost thousands. That’s why we take a proactive approach, reviewing your movements and financial ties to flag potential issues before you lodge.

Tax residency calls for more than guesswork. Getting it wrong can leave you with penalties or double taxation, so it’s worth seeking professional guidance early.

We handle them by sitting down with you and making sure every detail is captured correctly. Trusts and partnerships sit in a complicated part of the world of tax, and that’s why you need Sydney accountants who specialise in this area.

Take one client example. A family trust had multiple beneficiaries, some based overseas, and the distributions were tied to both wages and investment income. On top of that, one of the beneficiaries was also running a sole trader business. The situation was messy, and the ATO’s reporting requirements left the family unsure of how to proceed.

We worked through the return step by step, aligning the trust distributions with each beneficiary’s other income. Along the way, we provided clear financial advice, showing how the trust could be structured more efficiently in future years. Importantly, we were able to personalise the strategy so it reflected both the family’s needs and their long-term financial planning goals.

That’s the approach we bring to every trust or partnership return. It’s not about applying a template — it’s about listening, untangling the details, and making sure the return is accurate and defensible, while also setting you up for smoother compliance in the years ahead.

We do it by walking you through the CGT rules and showing you where the real opportunities lie. Selling an investment property can mean a big outlay, and without the right planning, many Australians end up paying more than they should. The key is getting expert advice early, so you can look at your numbers well before you sell and make adjustments that count.

Here are some of the common myths we hear:

Myth 1: You always pay full CGT when you sell.

That’s not the case. If you’ve owned the property for more than 12 months, you may be entitled to the 50% CGT discount. On top of that, certain ownership structures can shift how the gain is taxed. For example, selling through a trust can change how the distribution flows to beneficiaries. These are details most people don’t think about, but they make a huge difference.

Myth 2: You can avoid tax completely by reinvesting the money straight away.

This is a common misunderstanding. Unlike business assets, there’s no rollover relief for residential property. However, you can still reduce the impact by choosing the right financial year to sell in, or by offsetting the gain against carried-forward capital losses. That’s where advice to help simplify the rules comes in handy — we’ll map out different scenarios and show you what the after-tax result looks like.

Myth 3: CGT is only about the sale price.

It’s much broader than that. A holistic review looks at the property’s cost base in detail — things like legal fees, stamp duty, renovations, and even some borrowing costs. All of these add up to reduce your taxable gain. Without someone combing through the paperwork, it’s easy to leave legitimate deductions on the table.

Minimising tax on an investment property sale isn’t about shortcuts. It’s about knowing the rules and applying them properly to your situation. With the right planning and tailored advice, you can protect your profit and keep more of it aligned with your long-term investment goals.

Yes, we can. Charities and not-for-profits face unique reporting rules, and having Sydney tax accountants with the right expertise to help means your organisation can stay compliant while keeping its focus on community impact. From payroll through to GST concessions, we guide boards and managers through the obligations so they can achieve the best outcomes without losing sight of their purpose.

The challenge is that compliance involves more than just keeping receipts. Accurate records, strong business administration, and support from a skilled bookkeeper ensure your financial statements meet ATO and ACNC standards. We also help you look ahead, so the numbers you report today line up with your organisation’s financial future. By tailoring our various services to the not-for-profit sector, we make sure your reporting is both efficient and reliable.

Specialist advice in this space isn’t just about ticking boxes. It’s about protecting your reputation, satisfying regulators, and freeing you up to focus on the work that really matters.