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Expert Company Tax Return and Accounting Services by Vitas Advisory.
We handle everything from preparing, filling out, and submitting your company tax return. Our team of experienced accountants keeps abreast of the latest tax regulations in Australia, ensuring your company is compliant, and your tax returns are filed accurately and on time. This not only saves you valuable time but also helps to minimise your tax liabilities.
Keeping track of your company's financial operations is crucial to its success. At Vitas Advisory, we offer precise and reliable accounting services that provide you with clear financial insights and allow you to make informed business decisions.
What sets Vitas Advisory apart is our commitment to our clients. Each business has unique financial needs, and we strive to meet these needs with personalised solutions. We offer expert taxation and accounting services and provide financial advice that can help grow your business – from getting you a better company tax rate to ensuring your assessable income tax is up to scratch.
When you hire a company accounting service, your business can enjoy a multitude of benefits. First and foremost, you can save valuable time. Managing your company's finances can be time-consuming, and you need more expertise in the field to find it challenging. By hiring a service like Vitas Advisory, you can focus on growing your business while we handle your accounting needs. Accuracy is vital in accounting, and our team of experienced professionals can provide error-free reports, ensuring your finances are in order. We stay up-to-date with all of Australia's latest tax laws and financial legislation, so you're always compliant. Besides, our insightful financial advice can be invaluable in making key business decisions, from managing capital gains tax to ensuring you maximise deductions on the full company tax rate. And don't forget, hiring a company accounting service can often be more cost-effective than employing a full-time in-house accountant, especially for small to medium-sized businesses.
At Vitas Advisory, we offer an array of unique features within our company tax return service to ensure you gain the most beneficial outcomes.
This includes:
1. Customised Tax Strategies: We analyse your business model to design tax strategies tailored to your unique needs, ensuring maximum tax effectiveness and compliance. Pay tax only where you should, not in areas where you could have reaped the benefits of deductions. Make use of benefits like a lower company tax rate.
2. Accurate Reporting: Our team ensures flawless, accurate reporting of your financial statements and reporting to circumnavigate any possible penalties or late submissions.
3. Expert Guidance: From understanding complex tax demands to offering insight on tax-saving maneuvers, our dedicated team of accountants is there for you every step, whether you’re a small business entity or a medium-sized operation.
4. Dedicated Account Manager: You’ll have a dedicated professional who understands your business completely. They will save you time, keep you compliant and help your company grow. Our end goal is to unburden you from the stress of tax season while maximising your return.
With Vitas Advisory, a trusted partner walks with you at every stride of your tax journey.
A company tax return is a legally required document that all businesses must submit to the Australian Taxation Office (ATO) annually. It provides a detailed summary of a company's income, expenses, and details of tax paid or payable. This document plays a key role in the ATO's assessment of the amount of tax your company owes, or if it's eligible for a refund.
Preparing a company tax return in Australia can be daunting, especially if you're unfamiliar with the intricacies involved. However, it can become a manageable task with careful tax planning and an understanding of the Australian tax landscape.
Here is a basic step-by-step guide:
1. Identify Your Tax Obligations: Determine your company's specific tax obligations. This can depend on its size, type, and industry.
2. Keep Accurate Records: Ensure all financial transactions within the fiscal year are accurately recorded and kept orderly. This includes receipts, invoices, payroll records, etc.
3. Understand Your Deductibles: Familiarise yourself with what items can be considered tax deductibles, such as business expenses or depreciation. This can greatly reduce your taxable income.
4. Review Your Company's Financial Position: An overview of your company's financial position can provide a clearer picture of your tax situation.
5. Fill Out the Appropriate Forms: Depending on your company's circumstances, you should fill out the necessary tax forms. The Australian Taxation Office (ATO) provides online services that help you manage your tax affairs and lodge your company tax return.
6. Lodge Your Tax Return: Lodge your tax return with the ATO before the deadline to avoid penalties.
Running a successful business comes with its own set of challenges, and accounting issues can add to these struggles.
Vitas Advisory offers robust solutions to your accounting issues. Whatever finance-related roadblocks your company faces, our professional team is ready to solve them efficiently and responsibly.
If your issue concerns bookkeeping, we can clean and maintain this crucial aspect of your business. Our experts ensure competent management of data entry, bank reconciliation, accounts payable and receivable, and payroll services.
On the other hand, if you're facing issues with your company tax return, our comprehensive expertise in tax legislation allows us to optimise your tax, ensuring you're not overpaying. We'll meticulously prepare your return, ensuring it's compliant with current Australian taxing regulations.
Vitas Advisory also offers financial reporting solutions to companies dealing with ambiguous or inconsistent financial data. Our team ensures you get clear, accurate, and timely reports that offer deep insights into your business performance. This enables you to make informed decisions to drive growth.
In short, we have the expertise, experience, and excellent service commitment to solve any company accounting problem you might encounter.
Vitas Advisory follows a thoughtful and meticulous company tax return process to ensure you get the most efficient service.
Initial Consultation:
This is where we get to understand your company and its business tax needs. Here, we will discuss your business's current financial standing, tax obligations, potential deductions, and any other pertinent information that can aid in preparing an accurate tax return.
Gathering of Documents:
After consultation, we’ll request the necessary financial documents, including your Profit and Loss statements, balance sheets, and other paperwork for your tax return.
Preparation and Review:
Next, our certified accountants will meticulously prepare your tax return. After all the information has been accurately entered, it is then reviewed thoroughly to ensure no errors or potential tax benefits have been overlooked.
Filing:
Once everything is confirmed and you are satisfied with the outcome, we will file the tax return on your behalf. We ensure it is submitted to the Australian Taxation Office (ATO) within the stipulated timelines to avoid potential fines or penalties.
Post-filing Support:
Our service doesn't end with your tax return filing. We continue to provide support post-filing. We'll help you review notices from the ATO, ensure all your tax obligations are met, and prepare you for the next tax season.
Register your new or existing business to legally operate in Australia
An Australian Business Number (ABN) is a unique number that identifies your business to the government and community. All businesses operating in Australia need an ABN to pay taxes, hire employees, open a bank account, and more. We can assist with filing the application and receiving your ABN.
You may need to register for GST and other business taxes based on your annual turnover. We can analyse your situation to advise which tax registrations apply, walk you through the process, and help you understand ongoing compliance. Services include registering for GST, PAYG instalments, FBT, income tax, state taxes, fuel credits, and more. We can also assist with tax planning and filing.
Register a Company; If you want to incorporate and register a company rather than operate as a sole trader, we will guide you through the entire process. This includes advising on business structures and liability, checking availability for your proposed company name, completing ASIC (Australian Securities & Investments Commission) registration, obtaining the certificate of incorporation, and advising on post-registration compliance.
With Vitas Advisory, you get a team of qualified accountants and registered agents guiding your business every step ofthe way from the get-go.
We handle the full application process and follow up to obtain your ABN.
We assess your situation, advise if GST registration is required, and assist with application and compliance.
We check availability for business names, file the paperwork, and register your business name on the ASIC website so that you have exclusive rights.
We provide tailored advice on business structures and prepare and lodge all ASIC paperwork to register your company as a separate legal entity
Besides GST, we can register you for PAYG, FBT, payroll tax, land tax, stamp duty and other tax planning obligations required by the Australian Taxation Office (ATO).
We facilitate any state, council or industry-specific licences or permits required for you to conduct business and where your business operates.
Once you have a registered company, we proactively remind you of renewal dates, required filings, and other compliance duties.
With over 25 years of accounting expertise helping South Australian businesses like yours and organisations across the wider country, Vitas Advisory has the knowledge to ensure you complete all necessary registrations seamlessly while remaining compliant.
We stay up-to-date on changing tax laws, filing requirements, and other regulations so you can focus on running your business.
Whether you need a new registration or want to ensure existing ones are up to standard, contact our friendly team today to get started.
You can check if a business is registered in Australia by searching the ASIC Connect database.
This free online service allows you to search by entity name, ABN, or ACN to verify registration info and documents lodged.
It covers ABN registration status, business name and company registration information, and other public records.
You can also use the Australian Business Register's ABN Lookup tool.
We recommend confirming any registration questions with your accountant or registered agent.
The cost to register a business name in South Australia is currently $45 for one year or $104 for three years, paid to ASIC upon lodgement of the application. The fee is the same nationwide, thanks to uniform business registration laws across Australia.
Costs can go up if you need customised legal advice on the availability of your proposed name or complex business structures. Accounting firms may also charge service fees to facilitate the registration process and ensure correct paperwork.
Yes, you need to register your proposed business name with ASIC to trade in South Australia and the wider country.
Registration gives you exclusive naming rights and other legal protections. It also prevents customers from confusing you with a separate business.
We recommend registering any business name or entity before marketing, promotion, or sales. The process only takes a few weeks, and we can handle it seamlessly end-to-end.
The exact registration process for small businesses depends on your structure — sole traders, partnerships, trusts, companies, etc.
Key steps are getting an ABN, registering a business name if using one beyond your personal name, considering trademarks, and understanding your tax obligations based on turnover.
We guide you through each aspect, from choosing a business structure to obtaining an ABN, GST registration, completing necessary ASIC paperwork, and more. With tailored advice for SA requirements, we simplify setting up so you can focus on operations.
Contact us today to register your small business seamlessly.
We provide tailored accounting services to help your NDIS business thrive.
Our experienced NDIS accountant team stays updated on the latest ATO rules to maximise deductions and concessions for your business. Our services help you minimise taxation obligations, claim eligible deductions, meet reporting requirements, develop ongoing tax planning strategies, and comply with quality standards. With years of experience assisting NDIS scheme providers, we take care of your complex tax compliance so you can devote more time to your participants.
We offer tailored NDIS payroll solutions to take the stress out of paying your staff correctly and on time. Our services include setting up payroll, processing pay runs, calculating entitlements, providing reports and managing ATO reporting for new and established providers. By automating payroll compliance, our experienced accountants give you more time to focus on service delivery and participant outcomes.
As NDIS bookkeepers, we implement bookkeeping systems for real-time visibility of your finances. Our NDIS bookkeeping services cover processing transactions, account management, financial reporting, cash flow statements and forecasting and helping you understand your financial position. With a clear view of your cash flow, you can make informed decisions to improve financial outcomes for your NDIS business.
Set up an NDIS accounting system and software tailored for NDIS providers to track invoices, expenses, payroll, cashflow and more
Ongoing bookkeeping services for recording transactions, preparing financial records and statements, and providing visibility of your finances
Processing and identifying NDIS invoices correctly according to pricing guidelines
Tax planning and optimisation strategies to maximise deductions and tax-saving opportunities specific to NDIS businesses
Tax compliance services for BAS/GST, income tax returns, and managing tax payments
Payroll services suited for NDIS providers include calculating entitlements and managing reporting
Cash flow forecasting to inform business decisions and ensure financial viability
Guidance on budgeting and financial management to improve profitability
Our specialised knowledge of the NDIS system allows us to provide accounting solutions that set you up for success. We aim to automate compliance processes so you can stay focused on service delivery and participant outcomes.
With over 25 years of experience, our NDIS accountants understand unique financial and regulatory fields, such as the one NDIS landscape service providers operate in. We stay up-to-date with the latest NDIS reforms to provide proactive accounting advice tailored to your changing needs.
As forward-thinking chartered accountants, we take a practical approach to delivering accounting strategies personalised for your business. Our personalised services aim to provide the insights and visibility you need to make informed decisions for growth and success. We build long-term partnerships with our clients based on trust and reliability. And with decades of assisting businesses and individuals, our hands-on, responsive approach sets us apart.
Yes, NDIS providers must pay income tax like all any other business owner, as outlined by the Australian Taxation Office (ATO). As the NDIS market grows, providers should ensure they understand and meet their unique tax obligations through proper record keeping, claiming deductions, meeting BAS/GST reporting requirements, and lodging annual. Being an NDIS provider means supplying support services to NDIS participants who have a permanent and significant disability under the National Disability Insurance Scheme.
Providers can range from sole traders to large organisations, but they must register with the NDIS Quality and Safeguards Commission to deliver services.
They must also comply with rules and standards such as the NDIS Code of Conduct and NDIS Practice Standards when servicing participants.l income tax returns.
Being an NDIS provider means supplying support services to NDIS participants who have a permanent and significant disability under the National Disability Insurance Scheme.
Providers can range from sole traders to large organisations, but they must register with the NDIS Quality and Safeguards Commission to deliver services.
They must also comply with rules and standards such as the NDIS Code of Conduct and NDIS Practice Standards when servicing participants.
You can access the NDIS portal, myplace, or call the National Disability Insurance Agency at 1800 800 110.
Here you can access information and resources, view plan details, request payments, provide documents, and more, depending on your account permissions.
No, there is a single national NDIS Code of Conduct that applies consistently across all Australian states and territories.
The NDIS Commission oversees this national Code of Conduct, which sets expectations for appropriate conduct by NDIS service providers and workers in service delivery.
Providers operating in any Australian jurisdiction must abide by this national code. There are, however, intergovernmental agreements that detail NDIS operational and funding arrangements.
Not sure how to start a new business?
Vitas will help you select and implement the right legal structure for your business for tax, asset protection, and growth. We help you understand your rights, obligations, and duties.
When you start a new business, it can take time to understand what is legally required. The Vitas team will guide you through each step to ensure compliance.
Understanding your financial position will help you allocate the appropriate resources within your business to ensure you don’t miss out on any opportunities.
The first, and often the toughest, part of starting a new business venture is having a clear, concise strategic and operational business plan. This forms the road map for your business.
At Vitas Advisory, our experts can collaborate with you to develop a customised business plan that checks all the boxes.
Is your business idea commercially viable?
What sort of market exists for your product or service?
Have you defined your business objectives and goals in the short, medium, and long term?
Have you defined your target market and potential customer base?
Who are your competitors?
How much start-up capital do you need?
Finding the right accountant in Adelaide can make all the difference when starting your business successfully. At Vitas Advisory, we provide services for the Adelaide area, but also cater to wider Australia.
Best of all, we’re not your typical ‘number-crunchers’—our team genuinely cares about seeing your venture thrive. With decades of combined experience under our belts, we have the expertise to handle your bookkeeping, tax preparation, financial reporting, and beyond.
But we also understand that every business is unique. That’s why we take the time to dive into the specifics of your operations and goals, so we can provide tailored accounting solutions that help move the needle.
Our clients appreciate that we make accounting less of a chore. We proactively keep you compliant and financially healthy, so you can focus on doing what you love. You can trust that we'll be transparent, accessible, and accountable every step of the way.
There are a number of structures open to you when you are starting a business.
For example, you might decide to operate as a sole trader, or it might be more effective and tax-efficient for you to form a company or set up a trust.
Our business accountants team can advise you on what sort of structure will work best for you.
Vitas can help you prepare a budget, a cash flow analysis and forecast, and a profit and loss projection for your new business.
This information can be vital in obtaining funding for your new enterprise and getting your business off the ground.
If you are considering buying an existing business, Vitas Advisory can assist you in gaining a clear understanding of the business's financial position, especially any tax implications.
We can forecast the sales and profit projections and set up the best ownership structure for you.
There isn’t necessarily direct funding access for individuals to start new businesses.
However, the Australian government recognises that small businesses are the backbone of the country’s economy, so there are a few pathways, including state government grants, you can potentially explore:
R&D Tax Incentive — Startup businesses pursuing innovative technology or science may qualify for the Research and Development Tax Incentive. This provides tax offsets and cash refunds that can be used to cover operating costs.
Grants and Programs — The Australian government offers targeted grants for export-oriented startups, women founders, indigenous entrepreneurs, etc. There are also state startup programs worth exploring.
Funding for Skills Training — Programs like JobTrainer can provide the skills development and training needed to start your enterprise.
Equity Crowdfunding — Australian regulators allow startups to raise capital and project funding from everyday investors through equity crowdfunding platforms.
The key is knowing where to look and what eligibility criteria you have to meet. Working with an accountant or small business specialist can help identify and leverage every available funding avenue for your startup.
Validating your business idea before investing significant time and money into its launch is absolutely essential.
Here are some tips on assessing the viability of your new business concept:
Conduct market research — Is there a demonstrated demand for your product or service? What data indicates a gap in the market? Use surveys and focus groups to analyse industry trends within Australia and global markets.
Analyse the competition — Research competitive products and services in local and international markets and identify how to differentiate. SWOT analysis can identify weaknesses to exploit.
Review your costs — Create projections for startup costs, operating expenses, and goods sold. Ensure your margins are workable.
Assess legal feasibility — Get qualified advice on regulations, intellectual property, licensing, and other legal considerations.
Develop a minimum viable product — First, test your idea on a small scale by building a prototype or proof-of-concept.
Seek expert guidance — Consult with mentors, accountants, and lawyers to assess viability from all angles.
Following these steps lets you identify flaws, risks, and assumptions early when your idea is still flexible. Validating before launch also builds evidence to attract potential investors.
While exciting, moving forward without evaluating viability can save time, money, and missed opportunities. Do your due diligence first.
Which legal structure is best for my business?
Vitas regularly assist clients in choosing and establishing business and investment structures appropriate to their needs.
We will help you transition to a more effective business and investment structure to maximise your business profits.
The choice of an appropriate business or investment structure is crucial to maximising your returns and minimising the legal and economic risks.
It is very important to receive professional advice in order to choose an appropriate structure prior to commencing a business or acquiring an investment.
In particular, this is because there are often substantial capital gains tax, stamp duty, and advisory costs involved in restructuring to a more appropriate or necessary structure.
How much tax you pay
Your responsibilities as a business owner
Your potential personal liability
Your asset protection
Ongoing reporting requirements and costs
How your business or investment is structured is important in order to maximise your returns while also minimising any associated legal and economic risks.
There can be significant tax and legal implications if you attempt to change the structure of an existing business, so it’s important to make the right choices at the outset.
There are significant implications in terms of capital gains tax, stamp duty, and advisory costs for setting up or restructuring a business or investment.
Professional advice is essential in order to fully understand the full range of tax and non-tax-related factors.
A business with a turnover of less than $2 million is classified as a small business entity (SBE), which means there are a number of specific concessions available.
These include Goods and Services Tax (GST) concessions and Pay As You Go (PAYG) instalment concessions, as well as Fringe Benefits Tax (FBT) concessions, excise concessions, and capital gains tax concessions.
Vitas will take the time and hassle out of managing your bookkeeping
Our team are experienced with MYOB and Xero and can quickly get you set up with the software that suits you best.
From managing invoices and payments to debt collection, our team can provide support at every step of the way.
We offer a range of solutions to suit the needs of small, medium and large businesses, including payroll, bookkeeping, BAS reporting, IAS lodgement and more.
You deserve a break from all the paperwork, data entry, and administrative work that comes with running a business.
We can take care of these important but time-consuming functions for you, providing your business with a variety of bookkeeping services designed to meet your needs and budget.
Xero, including migration to Xero
Bookkeeping / Reconciliations
BAS/GST and PAYG
Payroll, Superannuation, Work Cover, Payroll Tax
Debtors/Creditors
Management Reporting, Budgets, Cash flows
End of Year Financials
When Vitas Advisory provides your business with bookkeeping services, you save a great deal of time, money, and stress.
You also get peace of mind knowing that your books are up to date and that all records are being kept accurately.
In addition, if required, we can deal with the ATO on your behalf.
We provide bookkeeping solutions for SMEs in a wide range of industries and sectors.
Regardless of the areas in which your business operates, we can support you with a variety of professional bookkeeping services.
Bookkeeping is not only about record-keeping or providing information to the ATO.
The data derived also enables you to better understand your business and make informed strategic decisions to grow and develop your operations.
Vitas will help you successfully run your business
Vitas Advisory offers monthly bookkeeping packages that cover bookkeeping, payroll, super, GST obligations and financial statements, depending on your needs.
We can help you with all financial reporting obligations, such as Business Activity Statements, PAYG, Instalment Statements and Taxable Payments Annual Reports.
We support you to make the right financial decisions for your business by providing timely and proactive solutions to meet your accounting and taxation needs.
Vitas Advisory provides an extensive range of company and trust accounting services, including business set-up, compliance, financial and management reporting, implementing tax-efficient strategies, and more.
Accounting services
Business set up
ASIC compliance
Financial reporting
Single Touch Payroll
Performance & KPI tracking
Cashflow & budgets
Business plans
Our specialist team can advise you as to which approach would be best for you, given your particular needs and circumstances.
We can also take care of all necessary registrations and prepare all relevant documentation on your behalf.
Vitas Accountants can act as your ASIC agents and deal with ASIC on your behalf. This also includes processing your ASIC annual review.
It can be a complex task to set up a trust, and the requirements are stringent.
Therefore, professional advice is needed when setting up a trust deed, and for the annual updates that are required.
Trusts can be an effective way of minimising tax and protecting wealth, but this requires a solid structure at the outset.
Expert partnership accounting for your business.
At Vitas Advisory, compliance is not just a buzzword but our way of protecting your partnership. We'll diligently handle your tax filings, financial audits, and reporting, ensuring your partnership adheres to Australian financial regulations.
Vitas Advisory goes beyond bookkeeping. We offer consultancy services to help your partnership make financially sound decisions. From asset acquisitions and budgeting to financial risk assessment, our team can provide you with sound financial counsel.
Fed up with complicated numbers or time-consuming bookkeeping duties? Let Vitas Advisory take the helm. With our professional bookkeeping services tailored to partnerships, we ensure accuracy, timeliness, and consistency in maintaining your organisation's financial activities.
Our team can assist you in setting up a new partnership TFN and ABN, and guide you on managing your ongoing business and tax obligations.
To ensure your new enterprise is as tax-efficient as possible, we can support you with record-keeping to ensure you claim all entitlements. We can also provide professional bookkeeping services that enable you to run your business more efficiently.
Deciding on partnership accounting services can feel like a mammoth task. It's a crucial decision that directly impacts your business's growth and sustainability. That’s where Vitas Advisory offers unrivalled expertise and services to handle all your partnership accounting needs in Australia.
Going from an individual return to creating a partnership will add an additional return, but it could maximise profits for your business.
You can contact us to discuss whether a partnership or sole trader is the correct choice for your business, and we can handle partnership registration if you would like to go forward.
If you're in a business partnership in Australia, you know that precise accounting practices are a necessity. That's where Vitas Advisory steps in. We're skilled at helping businesses like yours navigate the world of partnership accounting, a crucial area where mistakes can be costly.
We provide the tools and expertise you need to keep your accounting and partnership running smoothly.
We offer comprehensive services tailored to your partnership's unique needs. This may include:
Filing partnership tax returns
Helping to divide and distribute profits among partners
Recording routine financial transactions
Creating and maintaining a balance sheet
Tracking and managing capital accounts
Partnering with a professional accounting service, like Vitas Advisory, has many benefits for your partnership-based business in Australia.
Let us take you through some of the key advantages:
Ease of Compliance
We navigate the complex landscape of Australian tax laws, regulations, and compliance requirements for you, alleviating the stress of ensuring your business's finances are in order.
Time and Cost Savings
Instead of spending valuable time on accounting tasks, you can focus on what you do best — running your business. This not only saves time but also reduces the cost involved in hiring a full-time accounting staff.
Accurate Financial Management
Our team of experienced accountants brings precision to your financial management, ensuring minimal errors. This accuracy helps in the long run by preventing costly mistakes.
Insights and Advice
You'll gain access to professional advice, which can be invaluable in shaping a prosperous financial future for your partnership business. Whether it's tax planning, budgeting, or investment advice, our seasoned accountants have got your back.
Peace of Mind
Knowing your accounting needs are being professionally handled, you can focus more on growing your business and less on the intricacies of financial management.
Several accounting rules govern partnerships.
First, there's the principle of profit and loss sharing, which stipulates that profits, losses, and any changes in equity should be proportionately distributed among partners based on their defined percentage in the partnership agreement. This holds true even when losses exceed a partner's capital account.
Secondly, partnerships use the accrual method of accounting, and revenues and expenses are recognised when they are earned or incurred, not when money changes hands.
Unlike corporations, partnerships don't pay income tax. Instead, profits trickle down and are taxed at personal levels as income tax — often called pass-through taxation.
Another key rule is that of unlimited liability, meaning all partners are personally liable for the total sum of the partnership’s financial misfortunes.
Lastly, partnerships are required by law to maintain proper books of accounts. They must regularly prepare and present financial statements like any other business entity.
This whole accounting process can be tedious and tricky, and that's where hiring a professional partnership accounting firm, like Vitas Advisory, can save you time and hassle while ensuring accuracy and compliance.
