Knox Tax

Tax is a subject many people avoid until a deadline forces the issue, and this Melbourne practice builds its pitch around making it less intimidating. It describes its approach as working with clients rather than simply producing a return, so that each person understands where they stand financially and what to do next. The team operates from Boronia and now describes itself as part of a wider finance group.

Individuals, retirees and families

For individuals the practice prepares and lodges tax returns and helps with tax planning. It also offers help with setting a budget and with planning investments in property, shares and other assets. Families are a distinct group: the site lists superannuation accounting, reporting and tax returns, family trusts and structures, and the tax implications of divorce settlements. Retirees appear alongside individuals in the same service group.

Property investors

A separate set of services is written for people who own or plan to buy investment property. It covers advice and analysis for a first purchase, tax returns for investors and advice on the best structure to hold assets in. For investors who are growing, the practice discusses positive and negative gearing and helps clients build and manage a wider investment portfolio.

Business clients

Business owners can have their business tax returns and quarterly business activity statements prepared. The practice also gives guidance on business insurance and works with the common bookkeeping systems, naming SageOne, MYOB, Xero and QuickBooks. Its advisory offer takes in cash flow and budgeting, improving processes and systems, advice on whether to hire contractors or employees, help setting up Single Touch Payroll and the development of an exit strategy. It also supports people who are starting or growing a business with compliance and advisory work.

Plain language as a working method

The firm says its tax agents try to use language a client can follow, and that the team deliberately brings some personality to the experience. Its resources include a capital gains tax checklist and a page on business tax returns and compliance.

Knox Tax, trading as Knox Taxation and Business Advisory, is an accounting practice that aims to make tax easier to understand. Its terms, such as BAS, superannuation and Single Touch Payroll, show that it serves Australian clients.

Products and services

• Tax planning and returns: preparing and lodging individual returns, with budgeting and investment planning support.
• Business tax and BAS: business returns and quarterly activity statements.
• Accounting software help: systems such as SageOne, MYOB, Xero and QuickBooks.
• Business advisory: cash flow, budgeting, processes, hiring contractors versus employees and exit planning.
• Family and superannuation matters: family trusts, structures, super reporting and divorce tax questions.
• Property investor services: tax help for those holding property.

Who it serves

Individuals and retirees, families, property investors and business clients.

Key facts

• Payroll support: setting up Single Touch Payroll
• Guidance: capital gains tax checklist and business insurance advice