Financial Statements will include at least a profit and loss statement and balance sheet for a given period. We at Trilogy Accounting make sure you understand what the numbers mean and coupled with our benchmarking reports we can use the information to compare you to your competitors and identify areas of improvement.
We prepare financial statements and statutory returns and can take care of the audit of your self-managed superannuation fund. If you are nearing age 55 we can discuss the tax benefits of commencing a pension and help you decide what best suits your circumstances. Superannuation is a great tax planning tool, but the wrong advice can cost you money and additional tax.
We prepare financial statements and statutory returns and can take care of the audit of your self-managed superannuation fund. If you are nearing age 55 we can discuss the tax benefits of commencing a pension and help you decide what best suits your circumstances. Superannuation is a great tax planning tool, but the wrong advice can cost you money and additional tax.
Services
Reporting burden increases with the introduction of Taxable Payments Reporting regime for building and construction businesses. The system will be similar to the PAYG Withholding system currently used for employees. Good record keeping will be essential to enable this report to be prepared.
Business in the building and construction industry will need to ensure that their accounting software or bookkeeping system can keep track of contractor payments.These records will be used for ATO data matching purposes and information gathered may be passed on to building regulatory bodies eg BSA.
Business in the building and construction industry will need to ensure that their accounting software or bookkeeping system can keep track of contractor payments.These records will be used for ATO data matching purposes and information gathered may be passed on to building regulatory bodies eg BSA.
It is very important to get the relationship right, and as an employer, ensure that your contractor or employee understands the relationship. Most bad consequences for employers occur where there has not been a clear understanding of the relationship and dissatisfied contractors or employees report their grievances to the Australian Taxation Office or Industrial Relations Authority.
Sale property/shares etc - documents of sale and purchase price, including solicitor's settlement statements, legal fees, commissions, broker statements. Self Education Expenses - For courses completed at educational institutions, University or TAFE that have nexus to current work. Work Deductions - Union fees, tools, stationery, telephone etc - must be incurred for work.
Higher income earners will receive less private health insurance rebate or, if they do not have the appropriate level of private patient hospital cover, the Medicare levy surcharge may increase. Your income threshold calculation is based on the definition of income used to calculate Medicare levy surcharge for individuals or families.
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