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Company Tax Returns

What are Annual Financial Statements?

We are here to assist you with your Business Activity Statement (BAS) and help you manage your GST obligations. Our team can handle the preparation and lodgement of your BAS to ensure accuracy and compliance with the Australian Taxation Office (ATO) requirements.

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How Can Amaze Accounting Help You?

Amaze Accounting can provide you with professional advice and guide you through the business registration process required by the various government agencies, saving you time and ensuring your business is set up correctly from the start.

Our Services include:

  • Advice about which business structure best suits your needs: sole trader, partnership, company or trust.
  • Assisting you with the application process for an Australian Business Number (ABN) and a Goods and Services Tax (GST) registration.
  • Helping you register a Pty Ltd Company, Partnership or a business name with the Australian Securities and Investments Commission (ASIC).
  • Guiding you through the process of registering for Pay As You Go (PAYG) withholding with the Australian Taxation Office (ATO) if you plan to employ staff.
  • Assisting you with the licenses and permits required to operate your business.

[FAQ’S]

Top Questions Answered

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A company tax return is a form that is used to report a company’s income and claim any tax-related deductions or offsets for a financial year in Australia. It is used to calculate the amount of tax that the company is liable to pay to the Australian Taxation Office (ATO).

The due date for lodging company tax returns is generally the 21st of the month following the end of the quarter in which the company’s financial year ends. However, if you are using a tax agent, you may have additional time to lodge your return.

You will need to include information on all income received during the financial year, such as sales and revenue, and any tax-related deductions or offsets, such as operating expenses, depreciation, and employee benefits. You will also need to provide information about capital gains and losses, foreign income, and any other income and deductions relevant to the company.

You can lodge your company tax return online through the Business Portal on the ATO website, or through a registered tax agent.

You may be able to request an extension for lodging your company tax return if you are experiencing difficulty in meeting the lodgment due date. But you will need to apply for the extension in advance and the ATO will consider your application.

If you do not lodge your company tax return on time, you may be subject to penalties and interest charges. Additionally, the ATO may take legal action against you, which can result in fines and even penalties for the company’s directors.

Yes, you can get help with your company tax return from a registered tax agent or from the ATO. They can assist you with understanding your obligations and ensuring that your company tax return is completed correctly. It is also good to consult with an accountant to ensure that all the financial transactions are recorded and reported correctly in the company tax return.