At Walter Cowen & Co, we provide clients with expertise in Taxation, Accounting and Business Planning. Please contact us for details of solutions to all your financial problems, and see our detailed list of services below:
OUR SERVICES INCLUDE:
Preparation of Financial Statements
- Year-end accounting
- Preparation of periodic management accounts
- Preparation of periodic budgets
- Assistance with preparation of business plans
- Assistance with preparation of cash flow statements
- Fixed asset register maintenance
Assistance in Setting up Business Structures
We support your new business to ensure you make the right decisions, use the right business structure and get the right finance while fully understanding your obligations and opportunities.
At Walter Cowen & Co, we provide Business structures advice for:
- Sole traders
- DIY superannuation funds
- Discretionary family trusts
Business Tax Advice
As a proactive tax accounting firm we provide you and your business with the essential tax advice you need to operate your business better.
When you choose Walter Cowen & Co as your accounting firm you’ll have the benefit of the technical skill and expertise based on our extensive experience. Our qualified tax accounting team take a proactive approach to your small business accounting and financial ambitions, as we thrive on delivering you with timely, quality service to improve the profitability of your business. We are a firm that provides your business value with a diverse range of accounting and business services.
Tax Consulting and Services
As registered Tax Agents we can provide a full range of taxation services to assist clients in effectively managing business tax issues. Our taxation specialists are qualified accountants with many years of experience.
Walter Cowen & Co can ensure your business keeps track of its annual compliance obligations. The ATO ensures businesses are kept in check with their tax obligations by maintaining a thorough compliance program for businesses.
Prepare Business Income Tax Returns
We at Walter Cowen & Co, can assist you with all aspects of your business tax return. All businesses in Australia are required to lodge a business tax return. This includes for any year in which you run a business, even if you expect to have no tax liability. In Australia, Federal income tax for businesses is levied on the taxable income of a business. It is calculated on assessable income less any allowable deductions.
This becomes due at the end of a financial year which is the 30th of June. A business’s income and expenses is often detailed from the profit and loss statements prepared at year-end. These are reported in a business schedule section of the tax return – it is important to know that the format is different for sole traders, companies, partnerships and trusts.
Prepare Business Activity Statements (BAS)
These forms are due either monthly, quarterly or annually depending on the size of the business activity.
BAS’s can entail the reporting of;
- GST (Goods and Services Tax) activity via monthly or quarterly statements or via the payment of regular instalments, with annual reporting at the end.
- PAYG (Pay As You Go) Withholding tax for employees.
- PAYG(Pay As You Go) Instalments involving the pre-payment of tax towards the tax return.
- Fringe Benefits Tax (FBT)
Advise and Prepare your FBT Tax Return
Becomes due at the end of the 31st of March, and involves reporting the taxable fringe benefits paid out to employees by a company.
Prepare Annual Payment Summary Reports
Becomes due at the end of the financial year to be submitted to the ATO before the 15th August ( or later for "closely held" employees). A business must report on the Payment Summary, the salary or wage information of its employees annually.
Prepare ASIC Annual Company Statements
This becomes due on the anniversary of the company’s formation. Involves paying ASIC an annual fee as well as preparing minutes stating that the company can meet its debts when they are due.
We also can:
- Provide advice on appropriate structures for business and personal asset protection and tax minimisation
- Prepare company, trust, superannuation funds, sole trader and partnership tax returns