Business Tax Returns

Don’t underestimate the importance of a good accounting service. Let the professionals at ITP get you back to what you do best in your business. Call us to book your business tax appointment today.

Running a business? Whether you operate as a Company, Trust, Partnership or Sole Trader, we can prepare your return.

Your business, whether large or small, deserves the best management of your accounts and bookkeeping affairs. In addition to keeping your mind at ease, our specialist consultants can assist right from the start with individual & Sole Trader structures, company, partnership or trust set ups, GST, BAS and all bookkeeping management big or small.

If you are thinking of starting a business, we can advise you of the best bookkeeping process. Integrate this with our Tax Checklist and you are well on your way to keeping on top of your expenses and making tax time a breeze.

Looking to grow or invest in property through your business? We have expert advice on how to take that next step forward and the benefits you can expect to see through the small business tax offset, capital gains tax concessions for small business and deductions for your business and investments.

Save your business valuable time and have an Income Tax Professional organise your business tax preparation for you. Make an appointment with an ITP Queensland professional today and start making sense of all your business accounts.

Q. I have started a new business on top of my regular job – Do I need to register for GST?

A. If your taxable income claimed on your ABN is under $75,000 then no you do not have to register for GST but you may do so if you believe you will grow beyond that in the current financial year. If you are earning income as an Uber driver, you MUST be registered for GST.

Q. Do ITP provide a bookkeeping service?

A. Yes we do! We can manage your bookkeeping with the latest technology and utilising up to date and advanced accounting programs. Keeping your records under control and organised makes BAS, GST and payroll easy. Speak to one of our tax agents to assess your needs.

Q. How can I minimise my annual tax bill?

A. There are a number of tax concessions that you may be eligible for if you are a small business entity, ie; turnover is less than 10 million dollars(the turnover threshold).

These include:

  • Instant write-off for assets under $20,000(threshold $10 million).
  • Small Business Income Tax Offset (threshold $5 million).
  • CGT Concessions(threshold $5 million)

Getting these would be serious. Book your appointment today.