Gotsis Accounting

Self-managed super funds and their compliance

In Five Dock, Sydney, Gotsis Accounting works as an accounting and tax practice. It works with business owners and individuals, and it describes its advice as well-researched and tailored to each client's circumstances. Its clients come from the Inner West and wider Sydney, and the practice has grown its own business over the years, which it says gives its accountants first-hand understanding of what owners face.

Self-managed superannuation funds form a distinct part of the work. The practice gives tax and accounting advice for SMSFs, including whether a fund is compliant, and it helps clients choose the right structure from the start, with an explanation of the tax consequences of different structures and of how they protect personal assets. The accountants are experienced in superannuation and can advise on what a fund must do to stay compliant.

Tax returns, BAS and GST for business owners

Tax planning, advice and compliance make up another core service. The practice prepares accurate tax returns and gives well-researched advice on complex tax issues, aiming to give clients the right answer every time, whether the question concerns structuring a business, keeping watertight accounts or individual tax returns. Owners who want the BAS ready on time can rely on the practice to prepare it on time.

GST is handled both as routine compliance and as strategic advice. The practice advises on the GST treatment of particular business transactions, and on the purchase of a property or a business, so that the tax impact is understood before a deal is signed. Because the firm reports that it closely advises many businesses, it says it can also be relied on to explain a fast-moving government measure and what it means for a client.

Property investors, shareholders and managed fund holders

The practice gives guidance on a range of tax strategies for property investors, shareholders and people who have invested in managed funds. The advice includes making sure that all the deductions a client is entitled to are claimed, expert input on capital gains tax, and a clear view of whether negative gearing suits the client's position.

Gotsis Accounting says it takes time to learn each client's situation and goals at the outset, so that questions asked later are answered with advice specific to that person or business. It also reaches out with further advice when the firm believes it will help the client.