Accounting and Taxation
An approach to accounting and tax compliance
Business owners are burdened as tax compliance and reporting regulations is time consuming. Tax legislation and reporting compliance can massively affect your resources and your business performance if not effectively managed, regardless of whether you are an individual, small business, or multinational company.
With over 15 years of service, our accountants have a wealth of experience in areas of taxation, including building and construction related industries, medical, legal, and transport industries, and we understand that different clients have different level of compliance.
Our experienced Chartered Accountants can assist you on how to cut down tax payments, thereby increasing financial security irrespective of your business experience, as it is certain you will benefit from our accounting principles.
We raise our shoulders to effectively manage each client’s needs with competent people, rendering a dedicated, premium service over time.
At Portman Newton, we work with public and private organisations as well as individuals to effectively execute business strategies in tax effective ways while meeting your tax compliance obligations.
Our accountants are competent to provide assistance and advice on the following:
- Tax planning and advice;
- Direct and indirect taxes;
- Bookkeeping.
Tax planning and advice
Planning is crucial when it comes to implementing a tax strategy that minimizes tax impact on your business. Taxes affect every aspect of your business, so it is necessary to plan to avoid unnecessary losses of thousands of dollars.
The way your business is structured can also determine financial status, so it is your responsibility to understand the different types of entity structures to avoid spending more time and money. Whether your business is being structured as a sole proprietorship, partnership, or unit trust, your entity structure is key in determining many variables including tax levels, annual reports, and fees. You have to be confident in the structure of your business, so if you think you are dissatisfy with the results it may have on your business, we are here to help.
At Portman Newton, we provide end-of-year planning and advice in order to correlate with your expected returns and ensure you are making profit as much as possible. As tax advisors, we are engineered to review potential transactions aimed at achieving your goals and to offer you the best advice towards that course.
Direct and indirect taxes
Business owners can be overwhelmed with all the taxes that apply to their business.
Our team is up to the task across the range of taxes to strategically provide sustainable planning ideas to help your business reduce the cost and full impact of these taxes and attain compliance requirements and goals.
We are ready to give advice on indirect taxes as our clients extend across the following areas:
- GST;
- Fringe benefits;
- Land tax and payroll tax;
- Luxury car tax;
- Fuel tax credits;
- Income tax returns.
Bookkeeping
Updating business general ledger account, account reconciliations, and ATO requirements can be tricky for any financial manager.
At Portman Newton, we are designed to provide tailored, comprehensive, long-term bookkeeping solutions that are easy to understand, relieving you of time that can be invested in other parts of the business. Whether you need support to manage your cash flow, predict income and expenditure, or giving comprehensive financial reporting, our experienced team of bookkeepers will offer their assistance to ensure your business is functioning as planned.
We provide the following:
- Payroll solutions;
- Software and systems;
- BAS and GST;
- Virtual CFO;
- Accounts department.
