Accounting and Book keeping Service
We are here to help you
As Australia’s prominent bookkeeping professionals, we know the challenges faced by sole traders and the companies. Our bookkeeping solutions are tailor-made for a range of businesses from medium to large-sized organizations. From tradies to retailers, we cater to all types of clients.
We have a comprehensive knowledge of bookkeeping systems. We shape the minds of our clients as what matters require their attention the most. We know you need the service which can save your money, time and most importantly your peace of mind.
Hand Over your Bookkeeping Service to us and enjoy your weekend
With expert professional accountants, we can keep you out of the hassle to manage your books. We keep your books and you keep your other business matters.
What we Provide in our Bookkeeping Service?
- Accounts Payable and Receivable
- Bank Reconciliations
- Single Touch Payroll
- Quarterly and Annual Financial Statement’s Preparation
- Preparation and Lodgment of your BAS and Returns
Through Glorious Business Advisors and Tax Consultants, you make yourself assured that you are compliant with ATO. We can come to you for handling your books and it can be vice versa. You can benefit from us in the shape of corporate advice.
We assist to link your books with your business.
ASIC matters & Secretarial Services
Glorious Business Advisors and Tax Consultants provides company sectorial service at full-scale. We serve our clients by helping to comply with ASX Listing Rules, Corporations Act and other relevant regulations. We have the expertise of professionals who have complete grip on governance. Our experienced ASIC team enables our dear clients to efficiently and proactively satisfy their obligations.
We provide advice on ASIC maters and provide secretarial services to Australian companies who seek cost-efficient solution for the management of their compliance, governance and disclosure obligations.
Our Secretarial Services
We provide following corporate secretarial services:
- Incorporation of companies
- Deregistration of old entities
- ASX and ASIC compliance management.
- Registration of business names.
- Maintaining and updating the statutory registers and minutes of meetings books.
- Advising on corporate requirements
- Managing directors and members’ meetings
- Attending BOD meetings and writing minutes
- Drafting materials for corporate governance including charters and policies
- Appointment of company secretary
- Dealing with share registrar
- Drafting subsidiary minutes, circular resolutions, and delegated authorizations
- Registration of GST, ABN, and TFN
- Acting as designated company secretary
We are providing corporate secretarial services for more than ten years. We will effectively meet your secretarial obligations. To avert fines and breaches, or possible regulatory penalties, you need a reliable corporate secretary just like Glorious Business Advisors and Tax Consultants.
Business Advisory Services
While we provide peace of mind by taking care of accounting and taxation matters, our prominent feature is that we address your business challenges.
Glorious Business Advisors and Tax Consultants uncover business opportunities through the development of an understanding of your ambitions and challenges. We take a proactive approach to tackle all your facets related to business. Through offering fresh perspectives and insights in combination with pragmatic solutions, we enable you to make crucial decisions with confidence.
You may have an idea to strengthen your success, but is that idea good for your business? Your company is doing fine, can it be the finest? You are facing difficulty in company’s financial matters, can you turn it around?
The answers to all the above questions are YES. Provided you get the right adviser like us.
Glorious Business Advisors and Tax Consultants advise our clients the best structure. The structure can be:
We can structure and plan all your phases of startup, growth, and maturity.
Our Business Advisory Services Include but not limited to:
- Changing business structures to form new ones
- Preparation of budgets and cash flow forecast
- Forecasted Profit & Loss and Balance Sheet
- SWOT analysis
- A graph that tells how you performed on key success factors.
As a business, you have to file and pay GST and claim GST credits through lodging an annual GST return or Business Activity Statement (BAS).
Australian Tax Office (ATO) issue a business activity statement to the registered companies two weeks before the end of the reporting period. For GST return, the period is three months. The activity statement depicts the date for paying and lodging a tax return.
BAS are lodged electronically and Glorious Business Advisors and Tax Consultants helps its clients to lodge the same. We help to report their GST to the ATO. To avoid any sort of penalty, you must lodge your return on time. We can help you if you are facing difficulty. We also make payment plans for our clients.
Lodge Return Online
Lodging your quarterly BAS online makes you eligible to get the concession. The concession gives you an extra two weeks for lodging and paying your tax.
We assist our clients in lodging their GST return via following portals:
-Online Services through MyGov
For sole traders and individuals.
ATO website used for management of your corporate tax affairs
It allows you direct lodgment from payroll, accounting or financial software.
We assist you by communicating the notification from ATO. Through the notification, you ensure that your BAS is available and contact details are up-to-date.
Registration of ABN/TFN/Companies
An Australian Business Number (ABN) is an 11-digit unique number which gives your business identity to the community and government. An ABN is not a substitute to your tax file number (TFN). However, it is used for numerous business purposes.
After applying for an ABN, you can run your business in entire Australia. ABN enables you to:
-Confirm the business or corporate identity to others while invoicing or ordering.
-Avoid the Pay As You Go (PAYG) tax on receipts
-Claim credits related to GST
-Obtain an Australian domain
Step to Follow
To carry on business as an Australian resident you need the ABN and TFN. As an Australian resident, you can apply for TFN through following procedures:
-Fill the online form
-Print the application summary and take it to Australia Post interview.
-Attend the interview at the Australia Post outlet within thirty days of completion of the form.
After the above steps, ATO will send your TFN within a month.
All the above procedures need significant time, and patience. If you get involve to carry out this work, you will not be able to do other important tasks.
Therefore, Glorious Business Accounting and Tax Consultants helps our clients to apply for their ABN and TFN work. We can carry abovementioned hassles for you as well at the most affordable price. So, if you are new to the corporate world and need a business identity, contact us.
Tax returns for Businesses including companies, trusts, sole traders and partnership
Taxes in Australia are managed and collected by the Australian Tax Office (ATO). Companies can save money through payment of the correct amount of tax payable on the due date. Also, they can take benefit of tax concessions on which they are entitled to.
The critical taxes that companies including trusts, sole traders, and partnerships are income tax, Capital Gain Tax (CGT), and the Goods and Services Tax (GST), Payroll taxes and Fringe Benefits Tax.
For our corporate clients, Glorious Business Advisors and Tax Consultants specializes in all the above-mentioned taxes apart from superannuation and fringe benefits tax. We have comprehensive knowledge about the applicable tax laws along with the rates. We ensure that our clients take full advantage of their available deductions.
Summary to What We Offer
Every resident company in Australia is subject to corporate tax. We provide company tax services to our resident clients.
Capital Gain Tax (CGT)
CGT is applied when a company made gain by disposing-off its assets. Businesses including small businesses might be eligible for CGT concessions under specific circumstances.
We provide comprehensive guidance to our clients regarding CGT tax and deductions.
Goods and Services Tax (GST)
GST is a consumer tax on goods and services sold around Australia. We assist our clients in gaining eligible GST concessions.
We assist our clients in calculating their amount of wages paid per month and the tax they have to pay on the amount exceeding the threshold is to be paid by the company. It also incdues superannuation and FBT.
Tax returns for individual
Are you in search of reaping tax benefits or wish to shape your tax compliance in the simplest way? Regardless of your identity as an individual or business, Glorious Business Advisors and Tax Consultants professional and friendly tax specialists can assist you best.
Taxation service of Glorious Business Advisors and Tax Consultants is unparalleled. With vast experience and industry in-depth knowledge, we enable the individual businesses to stand out on the financial front.
Our tax team has exact knowledge to deal with every tax obligation arising from your personal affairs in an expedient and efficient manner. Our technology alongside processes make sure you manage the tax burden effectively and optimize your tax position.
We ponder beyond the work at hand for a better understanding of your goals. Broader vision helps us to better apply our expertise around every area of taxation. As a result, we achieve beneficial outcomes for you.
How Glorious Business Advisors and Tax Consultants Help you
We cover all states of Australia to provide our tax services to the individuals. We assist you with:
- File your tax returns electronically
- Business Activity Statement
- Evaluating and advising regarding correspondence of all tax offices
- Ensure that tax deductions are claimed correctly
- Ensure all sources of income are disclosed correctly
So, whether or not you are a business individual, you can avail of the best taxation service from us.
Tax returns for Investment properties
If you rent out your property or make an investment in a rental property, you need to declare all your rental income in your return. Also, you can claim the relevant deductions.
If you make a capital gain by selling or otherwise disposing off the property, it will be subject to Capital Gain Tax (CGT). However, there is an exception where you rent out the property you are living in.
If you have any investment property which is available for rent or is not rented, such as holiday home, hobby farm, etc., you opt not for rent:
-CGT applies to the property just like a rental property
-You might be able to include your cost of ownership in the cost base of the property. That would minimize any liability pertaining to capital gains when you sell it.
We make sure you identify all the eligible costs to be added in the cost base, as it may increase any capital loss. A capital loss can be carried forward for the application of future capital gains.
We assist our clients in keeping their records including correct depreciation schedule alongside capital works schedule.
To file your investment property return, keeping in mind all the aspects mentioned above, Glorious Business Advisors and Tax Consultants is here for you.