Tax Accounting - Businesses looking for a more professional approach to tax planning should think seriously about engaging someone experienced in tax accounting. With years of knowledge and membership of a professional association that keeps them up to date with legislative changes, a tax accountant can set a growing business squarely on the road to success. http://www.charterpartners.com.au

1. Tax Accounting Services Essential for Business Growth
To the ordinary pay-as-you-go taxpayer, the most involvement they have with tax generally is
their annual visit to a tax agent to lodge their tax return and hopefully, get some sort of a
refund. For a business, however, or even for a small investor, the complexity of our taxation
laws makes it prudent for expert assistance to be sought in a range of taxation areas including
preparation of the Business Activity Statement (BAS) and Instalment Activity Statement (IAS),
payroll and fringe benefits tax, tax planning, compliance and lodging tax returns, to name just a
few. The service provided by these trained experts is called tax accounting.
Most businesses of any size already have accounting assistance for the preparation of the
financial statements. These statements are then used as the basis for the preparation of the
relevant tax returns, and while larger companies have in-house accountants who manage their
operational information most use an external accountant Brisbane to provide up-to-date
knowledge and support in the area of tax accounting.
While at first glance this might seem like a duplication of effort, in fact it makes perfect sense.
Operational accountants deal with day-to-day management and financial issues, while tax
accountants are specialists in the legislation and rules around current tax legislation. Since this
legislation is constantly changing, it requires a specialist to keep current by reading professional
journals and attending conferences and seminars where a range of tax issues are discussed.
To put it quite simply, tax accounting is the method of accounting that focuses on tax issues and
all activities relating to the fulfilling of taxpayer obligations, including filing tax returns. It can
also include tax planning, compliance advice and issues, and assistance with the development
of effective structures and tax strategies.
A competent tax accountant usually has years of training and professional development behind
them and this expertise and experience is an invaluable asset to a business. They have an in-
depth knowledge of the taxation system and supporting legislation that an operational
accountant cannot be expected to know in detail.
As part of an effective tax planning strategy, a tax Brisbane accountant can offer advice on the
best way to structure a business to minimise tax and still remain compliant with all the relevant
laws. They can assist with the management of a large payroll and advise on the requirements
for payroll tax and unfamiliar state taxes for businesses that have operations in other states.
It is never too late to approach a professional tax accountant especially if the business is

2. starting to grow. This is the perfect opportunity to seek advice on setting up an effective tax
planning strategy that will support the business as it expands, while at the same time, feeling
comfortable that all compliance issues have been addressed.
http://www.charterpartners.com.au