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Business tax incorporates a number of taxes including goods and services tax, fringe benefits tax, payroll tax and the most common, income tax. Whilst most of us are familiar with income tax, it’s the other taxes that often get lost in the daily business operations. Business Tax can be quite vast and complex if the time is not given to understand and be aware of your tax obligations as a business owner. The Australian Taxation Office continues to target small to medium sized enterprises that aren’t meeting their tax obligations. If your business is falling behind in regard to reporting requirements, it may be time to meet with Falanga & Co to ensure your business is being driven in the right direction. Falanga & Co provide advice and guidance on all tax matters. Maximising profit and driving growth for your business are our goals, and we can work with you to ensure all your business tax obligations are up-to-date.
Financial planning is about developing strategies to help you manage your financial affairs and meet your life goals – and the first step is to make sure you have access to the right advice. For this reason, Falanga & Co have a long-established relationship with Barnett Financial Planning. Adrian Barnett and the team at Barnett Financial Planning are trusted advisers to our clients, for all things finance.
Falanga & Co have the expertise to ensure that your finances are set up in the most cost-effective manner possible. We work closely with a number of finance brokers whom have extensive experience and expertise in all facets of lending. The associated benefit to our clients is the direct access to trusted professionals who share the same commitment to the wellbeing of our clients.
In addition to our standard accounting services, Falanga & Co also offers expertise to help you manage and build your own SMSF. We can manage all administration, tax returns, reporting and financial statements that are required to be submitted to the Australian Tax Office. Additionally, we can assist in developing your investment strategy, plan for your transition into retirement and ensure that your SMSF is compliant with all legislative requirements.
Over the years we have assisted a number of clients through the business start-up maze. We have identified the key elements that you need to address in the start-up phase which extend beyond your choice of business structure, accounting software and business registrations. We do not believe in a one-size-fits-all approach to structuring your business. Tailoring our advice ensures that our solutions fit your personal situation and business ambitions as well as delivering the best tax outcome and asset protection. Falanga & Co are proud of our reputation as a business start-up specialist; we have sound solutions backed up with practical help for managing the unique challenges of the start-up phase of the business life cycle.
A modern business demands up to date accurate financial information. We can take care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes. We can also assist with meeting your reporting requirements including Business Activity Statements, Instalment Activity Statements, PAYG Withholding and Single Touch Payroll. Falanga & Co will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
Falanga & Co has the power to make your investment property infinitely more valuable to you. Not only do we have years of experience in accounting, tax and property, we also have the time and resources to investigate and implement every legitimate tax saving that we can possibly pass on to you. The Australian Taxation Office actively looks for reporting that may be incorrect or false, so accurate record-keeping is your best line of defence. Falanga & Co will assist in ensuring that you stay on the right side of the law whilst maximising your tax return.
A trust provides a valuable way of protecting the assets you have accumulated for the benefit of yourself and others. A trust can also be an effective structure for running your business. We have extensive experience with trusts and are able to offer specialist advice on establishment and compliance, ensuring that all statutory requirements are met. Falanga & Co can organise the preparation and execution of documentation involved in trust formation, annual accounts, taxation and income distribution.
A good budget is a necessity in a good business plan. It is one of the best business tools to set your financial targets and measure performance. In addition to goal setting, budget setting will often improve your chances of acquiring funding. Financers often require budgets as a prerequisite for funding approval. Falanga & Co have extensive experience with assisting clients in the budgeting process for both business and personal needs.