Causbrook & Associates

That's because the lockdown forced the four-partner firm, led by principal Darrel Causbrook, to finally move their accounting systems into the cloud

"We've become a cloud-based practice Clients can transfer documents to us with security, we can work offsite and gain access to documentation It's all real-time," Mr Causbrook said

Suite 2, Level 3A, 1 Bligh Street, Sydney NSW 2000 info@causbrooks com au +61 2 8222 6100

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We have looked after hundreds of SMSF clients over the last two decades and have many years of experience delivering quality SMSF accounting services

The notice of assessment is an important document as it includes the date your tax return was processed by the ATO and is a summary of your taxable income and tax position for the year Super choice - short for 'superannuation standard choice form' is a form that advises employers of the employee's choice of super fund

Bucket companies can work well as part of a tax savings strategy for business owners and investors alike, however, they are not for everyone

When investors in Australian companies receive dividends they may also receive franking credits if the dividends are partially franked or fully franked These franking credits represent the tax the company has paid on its profits in Australia As dividends are usually funded from profits, the dollars paid to investors in the form of the dividends may have already been taxed

A Director Identification Number (also known as a DIN or Director ID) is a unique identifier which must be obtained by all existing or prospective directors or eligible officers

A Business Activity Statement is used to report on the Goods and Services Tax (GST) amount that your business has collected on its sales minus any GST that you’ve paid on your purchases, with the net difference being what you are refunded or required to pay to the ATO

A GST credit, otherwise called input tax credits because they are a credit for tax paid on your business inputs, is a credit you claim for any GST included in the price you pay for business expenses You claim GST credits (input tax credits) when you lodge your quarterly or monthly business activity statement (for more on business activity statements, see our article here ) As a business owner, you need to understand your obligations when it comes to compliance and third-party reporting Keeping accurate records of the taxable payments your business makes to any contractors who are engaged to help provide your services is one of the key reporting obligations that you need to pay particular attention to That’s where the Taxable Payments Annual Report (TPAR) comes in

Pay As You Go Withholding and Instalments are two different processes the ATO uses to help businesses and individuals manage their tax obligations

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We provide a full range of corporate secretarial services for public companies, including preparation and lodgement of all ASIC requirements

Review your accounting fundamentals and identify potential risk exposure

Let us take care of the details, allowing you to take control of your business and achieve your financial goals

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We can help you establish an SMSF and ensure all obligations are met

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We work with you to provide a tailored estate planning strategy, ensuring all of your assets are successfully transferred in the event of your death