Accountants in Brighton: Expert Tax and Bookkeeping Services for Businesses

Many times, for services like bookkeeping and other such tasks companies do not have internal resources and hence hire professional accountants in Brighton from specialised accounting firms for handling such tasks. Professional accountants understand the whole process of accounting as they have significant experience with various aspects like the preparation of financial statements, cash flow management, tax processing, etc.

What Type of Specialist & Tax Services Do Specialist Accounting Firms Offer?

GST management is a crucial aspect of financial compliance for businesses operating in Australia as it is a 10% value-added tax. GST is applied to most goods and services and hence businesses are required to register for GST and submit Business Activity Statements (BAS) regularly. Professional accountants offer different services and businesses need to claim back the GST amount through proper procedures. Accountants understand the various procedures that need to be followed for minimising GST costs and ensuring compliance.

accountants brighton

Sometimes people fail to lodge a tax return and, in such situations, there are penalties from the ATO. However, in such situations, people must understand that contacting professionals is required for handling such issues so that late tax returns can be filed. Certified accountants check ATO records, calculate outstanding tax amounts and ensure that all past issues are resolved correctly. When one does not lodge a tax return in time then the fines can range from $222 to $1110.

A foreign resident tax return applies to individuals earning income from Australian sources while living overseas. Non-residents are taxed only on income generated within Australia and are not subject to taxes on foreign income hence professional services are required. Non-residents cannot claim a tax-free threshold and sometimes such individuals need to respond to notices from ATO hence professional help is required.

Ask any questions you have related to bookkeeping and various other tax services from the leading companies offering specialist accountant services and get a price quote easily.

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