Accounting & Taxation Services

We believe accounting services should be straight forward and stress-free. By providing bookkeeping, accounting, and taxation solutions we will work with you to manage your cash flow and meet your tax obligations.

Compliance is of the upmost importance but we also believe in offering quality management advice and support. We are committed to offering the highest level of friendly and professional service and welcome the opportunity to work with you.

The areas we specialise in are as follows:

Accounting & Tax Consultancy Services
Personal & Business Tax Returns
Business and Tax Advisory
ATO correspondence Management
Self-Managed Super
Cloud accounting options.

Business Accounting

You concentrate on running your business and let us take care of your business accounting and taxation requirements.

Some of the services we can offer your business include:

Accounting and bookkeeping
Accounting software advice and assistance
Business & company tax returns
Taxation – GST & PAYG advice, BAS preparation
ATO liaison when required
WorkCover advice and support
Audit advice & audit insurance
Superannuation for you and your staff
Business ‘start up’ advice
Prepare Business plans and financial budgets and review regularly
Measure your performance against industry benchmarks
Trust & company structures
Business Insurance.

Personal Accounting

We offer a range of Personal Accounting services for individual employees but our most popular service is assisting with the completion of individual tax returns.

Tax returns can be complex and there are often allowable tax deductions and expense claims available that our clients are often not be aware of. We can help you minimise your payable tax and potentially increase your tax return plus make sure your tax return is lodged on time.

We also offer advice on:

Investment properties, tax and negative gearing
Tax & share investments
HELP (higher education loans) debts
Superannuation advice
Advice on setting up a self-managed super fund (SMSF)
Late tax returns.

Bookkeeping & Financial Record Management

Data entry is one of the most important steps in the preparation of financial information. The more accurately data is entered then the greater benefit it is to ensuring your management information is up to date and accurate.

2020 Tax staff will get this job done efficiently, especially if using cloud based products and software shortcuts, which leaves you more time to concentrate on your business.

We can:

Design, establish and review accounting systems and software
Perform checks, reconciliations and end of financial year reports
Manage your accounts receivable and accounts payable
Ensure your business is up to speed with legislative requirements and management reports
Undertake payroll duties and compliance
Prepare and lodge BAS statements
Complete GST Reconciliation
Manage PAYG Withholding & Superannuation reports
Complete expense reports
Direct link to bank account transactions
Organise your documents and records
Help with data / ledger entry
Help with paying bills
Provide general business administrative support.

Business Advisory

Our main aim is to help clients grow, develop and strengthen their businesses. Small, medium or large businesses all benefit from receiving expert help in areas such as strategy development, management accounting, cost analysis and budgeting. Such help is very important to attaining their short and long term objectives.

Our aim is to enable you and your business to maximise potential and profitability. We do this by providing the highest level of technical and commercial solutions to resolve issues that might impair the attainment of these outcomes.

Our expertise and time will help you attain your goals.

We specialise in the following:

Corporate Structure
Strategy development and facilitation
Strategic management reporting
Budget preparation and review
Updating your business plan
Business value maximisation
Systems review
Financial diagnostic analysis
Cash flow and profitability
Business succession planning and implementation
Business valuations for acquisition or sale
Estate planning
Asset protection structuring.

Business Start-Ups & Structures

There are four main business structures commonly used by small businesses in Australia and we can help with them all:

Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.

Partnership: an association of people or entities running a business together, but not as a company. A partnership is relatively inexpensive to set up and operate.

Company: a legal entity separate from its shareholders.

Trust: an entity that holds property or income for the benefit of others. Trusts require a formal trust deed that outlines how the trust operates, requires the trustee to undertake formal yearly administrative tasks and if you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection.

It is important to note that you can change your business structure throughout the life of your business.

We can help with the following:

Corporate Structures
Updating your business plan
Business value maximisation
Systems review
Sustainability
Strategic planning
Financial diagnostic analysis
Cash flow and profitability
Corporate compliance
Formation of trusts and new company registrations
Provision of registered office services for service of notices
Attending to ASIC returns and regular filings on your behalf
Business name registrations and maintenance
Preparing minutes and drafting resolutions.

Cloud Accounting

Cloud accounting is based on your accounting software being stored online and accessed over the Internet. This allows you, your staff and your accountant to gain access from any location plus software and tax tables are automatically upgraded and data backups automatically managed.

Our solutions will help your business take advantage of an eco-system where your accounting software is the centre of all your information. From manufacturing and inventory, to customer relationship management (CRM), to rostering/timesheets and payroll, you will be in control of every aspect of your business. All is supported by comprehensive reporting.

Do not hesitate to contact us for an obligation free consultation session on business software solutions. With customised solutions, discounted software subscription, hands-on and personal training, we are committed to deliver you a quality of service that will meet and even exceed your expectations.

Payroll Management

Whether you’re just starting out, experiencing rapid growth or sustaining a mature company we have the solutions for your payroll needs. We know that accrual and recording of annual and sick leave is a headache most employers can do without.

At 2020 Tax we offer a cost saving service that will keep your company compliant with all relevant legislation and will process your payroll on time and accurately.

We will save you time, reduce costs and offer flexible options.

We can assist with the preparation of:

Pay slips
Updating to comply with Single Touch Payroll requirements.
Payment of salaries and other benefits
Accrual of all types of leave and recording of leave taken
Calculation and payment of superannuation

Our Services