Taxation

Tax Compliance

The correct business structure is vital to ensure that you are not paying more tax that you are legally obliged to.

At Dicandilo Thomson we can assess and review your current business structure and make recommendations as to ways you could be better set up to offer both asset protection and to help you pay the tax you should be.

The services we can provide to assist you with your taxation obligations include:

  • Lodging of income tax returns for all small business structures including sole traders, partnerships, private companies, family trusts, unit trusts and self managed super funds.
  • Assistance in completion and lodgement of Fringe Benefit Tax (FBT) returns, payroll tax returns, Business Activity Statements (BAS), Instalment Activity Statements (IAS) returns and other returns and claims
  • Withholding tax variation forms
  • Capital gains tax on the sale of assets such as property and shares
  • Budgeting and planning for future tax liabilities
  • Correctly identifying all possible business deductions and rebates you are entitled to claim
  • Payroll tax reviews

Tax Planning

Dicandilo Thomson is very big on tax minimisation as opposed to tax evasion.
What is the difference you ask?

Tax minimisation – under Australian taxation law a tax payer is allowed to reduce/minimise their taxation liability through legitimate arrangements.

Tax Evasion – Put simply tax evasion is a criminal act! It is when a tax payer applies illegal tactics to reduce their taxation liability

Effective tax planning can have a significant impact on a small business, which is why it is so important to get effective accurate tax planning advice with regards to:

  • Maximising your business deductions
  • Capital gains tax and applicable discounts
  • Negative gearing strategies
  • Available ATO concession an rebates
  • Maximising your after tax income
  • Deductibility of assessable losses