Taxation
It is important to stay abreast of changes in taxation legislation so all our staff are trained up to minute to ensure clients are provided with the most appropriate advice.
Tax Planning and Advice
Our staff have extensive knowledge covering all areas of taxation legislation and are at the coal face to provide up to date advice on changes and implementations made by the ATO that can impact individuals and businesses. This assists with ensuring our client base is provided with the best advice to minimize tax effectively within the parameters and make financial decisions on the future with confidence.
Our support and specialist advice covers income tax, company tax, payroll tax, fringe benefits tax, capital gains tax and GST as well as respecting the importance of asset protection with sound group structuring.
We pride ourselves on keeping fully up to date with the profession to provide our clients with the very best service and advice.
Preparation and Lodgement
Our firm works directly with our client base to engage and prepare financial accounts and tax returns, utilising the very best in software to service and implement cloud based accounting practices. We have a focus to reduce time and expense to set up our clients with software compatible with our office systems. We partner with XERO accounting software and work seamlessly to access client files without the need to request paperwork and documentation. This allows us to easily manage and update bookkeeping to assist with all lodgement requirements.
Our clients know well in advance of their lodgement deadlines and are well placed with having an understanding of when current and future tax payments/refunds are due.
Business Activity Statements
Our experienced staff prepare, review and lodge Business Activity Statements (BAS) on a monthly or quarterly basis to accurately report GST and PAYG withholding. We utilise our firm’s ATO portal to lodge online directly with the ATO on behalf of our client base to then provide our clients with payment deadlines to assist with managing cash flow.
With having an involvement in bookkeeping we ensure accurate reporting of GST on income, expenses, capital purchases and property transactions.
R&D Claims
Research & Development (R&D) tax incentives are available for innovative companies undertaking eligible R&D activities and may claim up to 45% of the expenditure as a refund from the ATO. There is a complicated list of criteria to gain eligibility and our staff can provide guidance and advice regarding eligibility together with lodging the R&D application.
Payroll Tax Returns
For those Victorian businesses whose wages exceed $650,000 per annum or $54,166 monthly there is a requirement to be registered for payroll tax. On preparation of financial accounts our staff will determine the necessity to register for payroll tax with the State Revenue Office and assist with ongoing reporting to ensure obligations are met in a timely manner.
ATO Administration
Our staff assist clients in dealings with the ATO whether it be liaising over extension time to lodge tax returns, settling disputes or requesting of remissions of ATO imposed late lodgement or interest penalties. We make it our business to work with our clients to keep the ATO satisfied with operations.
“We have a trusting relationship with all of the staff at Lenton Partners and will always be comforted that we have great financial support that not only looks after our accounts and tax but is proactive in providing necessary advice to assist us from day to day.”
— Joe Dema, Director, BD Projects Pty Ltd