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Personal Tax
Income Tax Returns
Tax returns are prepared cost effectively by :
~ Meeting to review tax position and collect data
~
Preparation of tax return using customised software
~
Review and explanations prior to signature
~
Electronic lodgement
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Property and Shares
We would welcome the opportunity of working with you
from the outset on the income tax and capital gains tax
issues which will arise.
Apart from helping you to work out the best structure
for these activities, if your strategy includes negative
gearing we have software which will quickly analyse the
tax outcome before you commit to the purchase and/or
borrowings. After determining the structure and level of
borrowings and anticipated tax outcome we will help you
ensure that the loan contract supports the proposed
strategy.
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Termination Payments
Tax advice on redundancy will often be needed urgently
and in stressed circumstances. If you know your personal
tax position in advance then you will be armed with the
knowledge to negotiate the best tax outcome.
We have a lot of experience in this area and will work
through the issues with you at the time, and then ensure
that the various amounts are dealt with correctly on
your tax return.
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Share Plans and Options
While it is great to be awarded shares or options by
your employer, they are accompanied by lots of
documentation, and don't necessarily tell you what you
should do. While we can't tell you what to do either, we
have lots of experience in dealing with Australian and
overseas share and option plans and can take you through
the tax side of things in 'plain English'.
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Foreign income and gains
We have the experience to quickly advise you in relation
to tax on your non-Australian interest, dividends,
pensions, rent etc and know how to claim a credit for
any foreign tax incurred. We can also help you to
understand how the capital gains tax rules apply if you
inherit property or you decide to sell an overseas
asset.
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Tax for International Assignees
Inbound to Australia
The best tax planning will be delivered where we are asked to become involved prior to your arrival in Australia. Even if this is not feasible, it is appropriate to review your individual circumstances as soon as possible. Apart from advising you how you will be taxed under current laws as the holder of a visa, we will be able to advise you of the status of any proposed tax legislation and how it may impact you. It is often appropriate to look at your salary package and incentives as well as existing assets, income streams, and proposed transactions prior to arriving in Australia.
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Working Outside Australia
After you leave Australia your ongoing tax status will depend upon the expected and actual length of absence, as well as the type of income you continue to derive from assets, and the types of assets involved. You will find it really useful to understand your alternatives, particularly when you then also need to consider how your host country will tax those amounts. If you have Australian or overseas shares or overseas property then special rules may apply when you leave Australia.
You also need to understand how your host country will deal with investment income and unrealised capital gains when you leave there to return to Australia at the end of your assignment.
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Short Term Assignments
A tax exemption in Australia may be able to be claimed if you work overseas for periods of 90 days or more. You will have to meet certain conditions. The provisions are sometimes complicated, and are impacted by a number of tax rulings, but we can help you to work through them and see if these provisions would apply to you.
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US Taxes
We have been preparing US individual tax returns since 1978 and use that experience and the latest software to ensure that your US return is prepared efficiently and cost effectively. We can also advise you in relation to US taxes while you remain a US citizen or green card holder. We have experience in advising on the tax impact of ceasing to be a US citizen or green card holder.
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Business Tax
Structure
We can help you review the taxation issues relating to whether you establish or continue your business as a sole-trader, partnership, company etc, We can also assist in obtaining an Australian Business Number, help with your GST registration, and guide you in relation to the ongoing tax compliance obligations of your business.
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BAS, Tax Returns, etc.
We will be pleased to be involved at the appropriate level for your business, to assist you in meeting your periodic and annual tax compliance obligations.
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Employer obligations
Whether you need to update your salary packaging arrangements, or need help with your Superannuation Guarantee Charge obligations, or Fringe Benefits Tax return, or even Employer Share or Option Plans, we have the experience to provide appropriate input and advice.
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Extracting Wealth on Retirement
Certain tax concessions are available in relation to your business when you retire. In order to ensure that they qualify for these concessions and maximise the value of them, many business owners seek advice as to the various tax consequences some years prior to the proposed retirement.
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It's your business
- make sure its ready to provide you with a comfortable retirement.
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