Personal Accounting

Find an accountant that gets the bigger picture, helping you solve your business problems and empowering you to reach your goals. Having a knowledgeable expert focused on your personal financial and accounting needs simply allow you to spend enough time on struggling in the areas where you can excel much.

At DG Powell & Associates, we are aimed to help you in personal accounting services and can proficiently provide you with the great record of your financial transactions and offer the advantages of having maximum foresight into your potential gains and losses.

We have a dedicated team of accountants who are able to provide private wealth management services to help clients to achieve their financial goals. We can assist with:

• General accounting and taxation advice
• Preparation of tax returns
• Advice on rental property taxation and negative gearing
• Share investment tax advice
• Capital Gains Tax advice
• Late tax return preparation

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9744 3588 or make an enquiry via email at admin@dgpowell.com.au and one of our staff will get back to you as soon as possible.

Business Accounting

Building a business can be a time-consuming process. You've got clients or customers to chase, staff to manage and many more day-to-day aspects that keep you busy. We provide you with the support you need to manage your accounts, taxes and bookkeeping effectively, giving you more time to attend to other business matters.

We offer a wide range of services for businesses to assist with their accounting and taxation requirements. From advice for startup and established businesses to the preparation of your end of year reports, our team are here to help you.

We provide a full range of Accounting Services to assist you in gaining an accurate picture of your business, to provide the basis for future planning and meeting your compliance obligations.

Services include:

• Statutory Accounts
• Periodic Management Accounts
• Budgets and Cashflows
• Special Purpose Management Reports
• ASIC requirements
• Payroll management
• WorkCover management
• GST Margin Scheme
• Superannuation

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9744 3588 or make an enquiry via email at admin@dgpowell.com.au and one of our staff will get back to you as soon as possible.

Taxation Services

When the time comes to deal with your own taxation and accounts, it can be stressful and hassling. Though through good preparation and planning, you can make tax time work for you and potentially reduce the impact of tax, while keeping up to date.

DG Powell & Associates are specialists in taxation services and we aim to provide our clients with comprehensive tax planning advice and strategies, all at competitive prices.

We also complete tax returns for individuals. They can be complex and there are allowable tax deductions and expense claims that can be made that you may not be aware of. We can help you minimise your payable tax and potentially increase your tax return and make sure your tax return is lodged on time. We also offer advice on:

• BAS preparation: We can prepare your Business Activity Statements (BAS) and ensure every claim is met.
• GST Advice: We provide advice in relation to transactions that may have GST implications.
• Tax Returns: From the most basic to the very complex we can prepare your tax returns.
• Instalment Activity Statements (IAS): We can assess your personal circumstances and ensure the correct amount of tax is paid on your quarterly IAS.
• PAYG Variation: For those clients who have extensive claims we can put in place a PAYG variation to ensure you get your tax refund each week rather than in one lump sum at the end year.
• Fringe Benefits Tax: We can prepare your FBT return where a fringe benefit is provided to employees.

Tax can be complicated in many ways—that's no secret. What can you actually claim? Are you entitled to any government incentives or benefits? Is there anything you should concern yourself with when recording expenses?

A professional accountant can help you identify potential tax deductions and government benefits in detail, which could help you minimise tax payable. They'll also inform you of any obligations and laws that you have to meet and abide by, thus helping you stay up to date.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9744 3588 or make an enquiry via email at admin@dgpowell.com.au and one of our staff will get back to you as soon as possible.

Business Advisory

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 that is 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.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9744 3588 or make an enquiry via email at admin@dgpowell.com.au and one of our staff will get back to you as soon as possible.

Cloud Accounting

More small to medium-sized businesses are moving to cloud accounting and using cloud based applications for their bookkeeping and accounting needs through desktop and mobile apps. All businesses need to keep track of their accounts, and cloud accounting allows businesses to make invoicing and cashflow management decisions based on more up to date information. It also provides for other business efficiencies including payroll for off premises workers. The cloud revolution is propelled by fast, reliable internet, cheaper servers and widely-used open-standards for interchanging data and instructions between software. Moving to the cloud does not increase data risk if good password policies and back-up strategies are in place. Businesses should ensure staff understand modern security risks and complete training when moving to cloud accounting or using any service that provides remote access.

Contact us to discuss your circumstances so we can help determine the most appropriate solution for you based on functionality, ease of use and cost.

The main cloud accounting players in Australia are:

Reckon – Intuit (the global company) created QuickBooks software and Reckon (the Australian company) now continues to provide this cloud-based accounting software in a variety of formats including desktop, hosted and online cloud versions.

Quickbooks Online – Provides a cloud based version of their previous product, QuickBooks.

MYOB – An Australian company originally offering desktop accounting software, now offers several subscription-based cloud accounting products, including both desktop and cloud versions of their product.

Xero – A New Zealand based software company that offers cloud-based accounting software for small to medium-sized businesses.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9744 3588 or make an enquiry via email at admin@dgpowell.com.au and one of our staff will get back to you as soon as possible.

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