Our Services
1. Tax Returns (Personal & Business)
Enhancing your net worth is the basic founding principle behind the process of providing taxation lodging and advisory. Taxation does not imply giving away your money for charity. In fact efficient tax management could give you distinct advantage. This calls for application of appropriate and effective strategies and identify solutions according to your needs. We have a wide tax management team that covers entire gamut of personal, business, trust and company taxation. Our team is well equipped with the skills to cater to clients from diverse industry background.
A lot of our fellow men who lodge tax returns every year are lodging more tax than required because of lack of knowledge. This is where we play a role of your financial counselor. Our team has both specialized skills and knowledge to help you sail through the process and attain advantage at the same time. It is our obligation to provide services that satisfy our clients and maximize their returns.
Our Expertise
- Preparation of financial statements and income tax returns for companies, trusts, partnerships and individuals.
- Preparation of Business Activity Statements (BAS)
- Fringe benefit tax return
- Tax planning & advice
- Capital gain tax
- Rental properties
- Assistance with ATO tax audit process
- Assistance with tax office queries
- General taxation advice
2. Business Services
We believe that one must do what one is best at. We are best at providing financial business services and provide these services so that our clients can concentrate at what they are best at. We have an expertise in providing business solutions to financial problems. We have an expert team with an impressive portfolio having an experience of handling servicing clients, high net worth individuals and businesses
We understand that keeping up to date with fast moving financial markets could pose to be a huge challenge for many. Ever changing rules and regulations only adds to the woes of investors. We strive to set ourselves apart from financial service providers by improvising our knowledge base and applying that to generate better results for our clients. It is because of this trait that the organization and clients can very confidently navigate in the complex investment world.
Our Areas of expertise includes:
- Business establishment/Registration and consulting
- Business structural advice to minimize your tax obligations and protect your assets
- Company and trust formations
- Register for TFN, Australian Business Number (ABN), GST and trading names/business names
- Accounting software support
- Company secretarial services of your company via the ASIC
- Compliance advice
- Ongoing business support
3. Self-Managed Superannuation Funds (SMSF) Audit
We provide independent and impartial advice while ensuring compliance with relevant regulatory requirements and accounting standards. We have an expertise in providing independent SMSF audit by ASIC registered SMSF Auditor. Our organization follows SISA and SISR compliance. We are trusted name in market for exceptional services at affordable rates. We have always had a happy base of clients with our reliable services and fast turnaround. We offer audit services to both trustees and accountants.
A self-managed super fund (SMSF) is a super fund controlled by its trustees and the concessional tax is regulated by the ATO. Limit of number of members in SMSFs is restricted to four members. The primary objective of the SMSFs is to provide death and retirement benefits for the members and the members’ dependent. SMSF can be established through a trust deed and super laws form the governing rules of the fund.
An SMSF could have either individual trustees or a company that acts as trustee (a corporate trustee) and is responsible for the fund. All members must be either individual trustees of the fund or directors of the corporate trustee. There are special rules for single member funds and minors.
Why consider Shah Tax and Audit for your SMSFs?
- Our team has appropriate time, skills and assets to manage your SMSFs at their best capacity.
We have suitable skills to comply with the law. There are strings of rules that apply to super funds. In case of failure to comply with these laws can lead to burden of severe penalties and the fund may suffer the consequences. Under such circumstances our services makes it very convenient for our clients to manage their SMSFs.
4. Superannuation
Superannuation is an arrangement designed to collect funds that are available for withdrawal ideally at the time of retirement. This is a government supported process. Under this process an employee deposits a fixed proportion of salary into a superannuation fund. Though people are obligated to deposit a minimum of 9.5% as of July 1, 2014, we encourage our clients to set aside a larger chunk for this fund. This rate is set to increase annually in the coming years. Our clients may choose to voluntarily contribute more funds to superannuation fund and in return receive tax benefits.
Basically there are seven types of superannuation funds:
- Industry Funds – This category of funds is operated by an employer’s association. This fund is set up by an organization to benefit its employees.
- Wholesale Master Trusts – This category of funds is run by financial institutions for its employees. They are also referred to as retail funds by APRA.
- Retail Master Trusts/Wrap platforms - This category of funds is operated by financial institutions for profits.
- Employer Stand-alone Funds – This category of funds is run by employers for their employees where every fund may have different structures.
- Self-Managed Superannuation Funds (SMSFs) –
This category of funds is the largest sector in Australia. This fund limits its members to four where the trustees of the fund are the fund members. This process is regulated by Australian Taxation Office.
Shah Tax & Audit Services has an expertise in establishing and managing SMSFs. In addition to this we prepare the financials and tax return for the same. We conduct audit for SMSF and provide advice and support.