Services

Accounting Services and Income Tax Returns

We believe accounting services should be straight forward and stress-free. By providing cutting edge accounting, taxation and financial solutions, our team at Plouto will work with you to understand your needs and help you achieve your goals. Our approach will make it easier for you to manage your cash flow and meet your tax obligations.

Income Tax Returns can be complex and there are tax deductions and expense claims which are permissible, but of which you may not be aware. We can help you minimise the tax payable, and potentially increase your tax refund, while making sure your tax return is lodged on time.

We understand that Fiscal compliance is of the upmost importance, however, we at XX also believe in offering additional input regarding management support for all levels of your business and personal situations.

Our expertise includes the following:

• Personal & Business Tax Returns
• Annual Reporting
• Business and Tax Advisory Services
• Management of ATO Correspondence
• Self-Managed Superannuation Funds
• Investment properties - tax and negative gearing
• HELP (higher education loans) debts
• Superannuation
• Estate Returns and Financial Statements
• Business Valuations
• Interim Management Accounts and Reporting
• Testamentary Trusts

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Business Accounting

At Plouto, we specialize in providing comprehensive business accounting services designed to support your financial needs and help your business thrive. Our experienced team offers the following services:

• Bookkeeping Services
• Financial Statement Preparation
• Tax Planning and Preparation
• Budgeting and Forecasting
• Payroll Services
• Audit Support and Advisory
• Financial Analysis and Consulting

Partner with us to ensure your business's financial health and make informed decisions for a successful future.

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Business Advisory

Choosing your business structure is an important decision and XX can consult with you and suggest the best structure for your business. There are four main business structures commonly used by small businesses in Australia. They are:

• Sole trader: an individual operating as the sole person legally responsible for all aspects of the business. Like other structures, as a sole trader you can employ people to help you run your business. The structure is inexpensive to set up because there are few legal and tax formalities.
• 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. It is a complex business structure, with set-up and administrative costs that are usually higher than for other business structures.
• 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, require 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.

Companies and Trusts are more complicated business structures but they have their advantages and XX can discuss these with you. It is important to note that you can change your business structure throughout the life of your business.

We can also assist with:

• Business takeovers
• Valuation of business
• Due diligence reports
• Due diligence services
• Business risk profiles
• Specialist Tax advice
• Tax planning
• Board of Directors representation
• Specialist Tax advice

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Tax & Accounting Consultancy

Management Accounting includes the preparation of management reports and accounts that provide accurate and timely financial and statistical information. Information required by managers to make day-to-day and short-term decisions more efficiently and effectively to achieve desired outcomes such as increasing profit or delivering improved services.

Unlike financial accounting, which produces tax returns and annual reports, management accounting generates monthly or weekly reports for an organization's management and decision makers. These reports typically show items such as available cash, sales revenue, orders in hand, accounts payable and accounts receivable, and outstanding debts. An important aspect of Management accounting is determining what information management needs and communicating this effectively.

XX can assist with all aspects of management reporting including:

• Strategic advice to managers about the financial implications of projects
• KPI reporting
• Explaining the financial consequences of business decisions
• Formulating business budgets and business plans and strategies
• Monitoring spending, financial control and Cashflow projection
• Conducting internal business audits
• Monthly/quarterly management reports
• Product costing reviews.

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SMSF Administration

Self-Managed Superannuation Funds (SMSFs) offer a good strategy option for many individuals, families and small business owners to build tax effective wealth and to protect assets over time. SMSFs are becoming popular for those who are ready to take control of their own super investments as they give you ultimate control and flexibility to manage your retirement benefits.

It must be noted though, that you will have increased responsibilities as a trustee of the fund. As a SMSF Trustee you need to keep up to date with all required regulations and keep up with the fast paced financial markets.

Plouto can work with you to understand your personal financial situation and decide whether a SMSF structure is appropriate for you. We will also make sure your assets are invested in the most effective way to maximise your retirement benefits.

Should you wish to consider establishing a SMSF then we can help with:

• Establishing your fund through a third-party
• Annual Compliance Services
• Administration Services
• Pension advice through a third-party
• Superannuation Advisory Services

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GST & BAS Compliance

Once a business reaches a turnover of $75,000 per annum, the business is required to register for GST and lodge Business Activity Statements with the Australian Taxation Office. Depending on the nature of the business and the turnover thresholds, the business will register to report using either the cash or accruals method.

GST is an important tax consideration in events such as sale of property, development projects, new business structures, mergers and acquisitions and international transitions.

We can help you to prepare comprehensive financial statements for a wide range of readers and an equally wide range of purposes. Whether your statements relate to your business or your personal financial standing, we can accommodate your needs. The GST-related services we offer include, but are not limited to:

• Advice on registering for GST
• Monthly/quarterly Business Activity Statements (BAS)
• Income Activity Statements
• Pay as you go (PAYG) instalments
• Annual Business Activity Statements
• ATO audit assistance

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Lodging your BAS correctly and on time can be a difficult and confusing process. You can avoid risk and stress simply by being confident that your ATO tax liabilities and obligations are sorted and your BAS lodgement is correct every time.

It’s not surprising that peace of mind for many business owners comes with appointing an experienced agent to look after their BAS services for them.

Our friendly, service orientated team offer a range of BAS services and lodgement options to suit all small business owners so you have more time to do what you do best – running your business and earning money.

Services include:

• Preparation of Business Activity Statements from business data
• Electronic Lodgement of Business Activity Statements
• Personalised advice on BAS provisions (including GST, PAYG, Withholdings and Instalments, Fringe Benefits Tax, Fuel Tax Credits and more)
• Preparation of Instalment Activity Statements and Employee Payment Summaries
• Management of financial data files and preparation of reports for business tax returns
• Handle payroll and superannuation obligations including Reportable Employer Super Contributions

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