Taxation

 

BD Welsh has been an expert in Australia taxation law and advisory for 25 years. We stay across all tax changes in Australia but also potential changes so we can offer quality and timely advice to our clients.

We are also an active member of the National Tax and Accountants’ Association Limited (NTAA).

BDWelsh & Co offer taxation services across:

  • Tax lodgments
  • BAS preparation and lodgments
  • Business registration (TFN, ABN, GST)
  • Setting up individual and company Pay As You Go tax arrangements (PAYG)
  • Income tax
  • Capital gains tax,
  • Fringe benefits tax,
  • Assistance in claiming R&D tax incentives(jump link to below section on R&D incentives)

We also offer:

  • Capital Gains Tax advice
  • Strategic Tax Advice
  • Tax consolidation
  • Tax Planning (jump link to below section on Tax Planning)
  • Compliance reviews
  • Variations to PAYG income tax instalments
  • Trusts, company and asset structures

Areas of particular interest to our clients include:

Tax Planning 

Providing tax advice on a wide range of tax planning issues is a core part of our practice.

BDWelsh & Co provides advice on the full range of domestic tax issues but we also regularly advise on international tax planning matters.

Our tax planning advice can span the complete life cycle of a business from choosing the right structure when starting a business; to selecting the most effective means of bringing in new business partners; to deciding how best to divest the assets and distribute the profits of a business on a wind-up or merger.

A range of tax matters need to be considered on the acquisition or sale of a business including goods and services tax (GST), capital gains tax (CGT) and income tax issues, as well as state taxes (stamp duty) and we can advise on all of these issues.

For individuals and families, we are often asked to consult on a wide array of tax planning matters. Examples include the best way to structure an individual’s investments; tax matters related to family law; and tax-related estate planning and inheritance issues on the passing of a parent.

Tax-effective salary packaging is an important aspect of retaining key staff in a progressive organisation. We can structure a salary package for staff that benefits both employer and employee.

We assist in the administration of self-managed superannuation funds (SMSF) and also superannuation planning and advice. We pride ourselves on giving tax-effective advice in relation to the setup and ongoing operation of SMSFs.

Tax Compliance Services

BDWelsh & Co prepare and lodge all forms of tax returns – individual income tax, company, partnerships; trusts and superannuation fund tax returns and fringe benefits tax returns.

We prepare and lodge business activity statements (BAS), instalment activity statements, PAYG instalment notices, and annual GST returns. For individuals, we prepare and lodge applications to vary PAYG withholding tax. We also prepare and lodge State payroll tax as well as land tax returns.

Australian Tax Office matters (ATO)

We regularly provide advice to clients on a range of tax compliance issues including record keeping that meet ATO expectations and also how to meet business benchmarks set by the ATO.

We also assist clients with ATO reviews and audits, often acting as a welcome buffer between the client and the ATO. Our team prepare and submit objections to tax assessments and make submissions to the ATO for penalty and interest remissions and reductions where the circumstances warrant it.

Research & Development (R&D) tax incentives

R&D incentives in Australia are very generous but many eligible companies involved in R&D don’t realise they could be accessing these incentives.

It is important to know that R&D is not just about pure research.

The Australian Tax Office (ATO) is becoming increasingly sophisticated in their data matching. For example, the ATO is now collecting data from designated cryptocurrency service providers to identify individuals or businesses buying, selling or transferring cryptocurrency to ensure they are paying the right amount of tax.