Business Advisory
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Proactive Tax Accounting for Business Growth
Managing the government’s long list of requirements—like Business Activity Statements (BAS), income tax returns, and fringe benefits tax returns—can be overwhelming for business owners. The better your financial data, the smoother these processes become.
Businesses often face pressure when owners aren’t fully aware of their compliance obligations and deadlines. This is particularly true for new business owners, who may not fully grasp what’s required. Falling behind on tax obligations is a leading cause of business failure in Australia. In today’s increasingly complex tax environment, staying up to date with taxation regulations is essential for businesses of all sizes and industries.
At Ark Accounting, our team of tax accountants will work closely with you and your team, sharing their knowledge and expertise to provide transparency and clarity. Whether you’re an established business or a start-up, our proactive approach is designed to make a real difference. We focus on improving your performance and achieving genuine growth, all while ensuring compliance with current taxation laws.
With Ark Accounting’s Business Advisory services, you can trust that your business or personal tax matters are in expert hands, allowing you to focus on what matters most—growing your business.
Experienced and qualified
tax accountants.
Ensuring your income tax return and fringe benefits tax return are lodged correctly, and on time, are important. With Carbon, you will be able to rest assured the work is being completed accurately and by the deadline to the Australian Taxation Office (ATO).
- Avoid penalties for late lodgment.
- Accurate preparation of all work.
- Preparation of your financial statements.
- Reduced stress from trying to do it yourself.
Maintain accurate financial records, file tax returns on time and stay updated on tax laws. Consulting with a tax professional can also help ensure compliance.
As a business grows, individuals often look to set up various structures to own the business. With a company comes a few more responsibilities.
As a company is separate from its owners, there is the need to lodge a separate tax return for the company.
Income and expenses are calculated for the company, with the major difference being the tax rates applied. This is all calculated through the submission of your company tax return.
The degree of separation between the owners of the company, and the company itself does have other advantages, such as a layer of protection between the personal assets of the owners, and the dealings of the company itself.
If you would like to know more about whether a company is right for you, contact our team at Carbon Accounting & Tax, where we tailor business structures to your needs.
A capital gain or loss is the difference between the cost of an asset and the sales proceeds you received when you dispose or sell the asset.
You pay tax on your capital gains as it forms part of your income in your tax return. If you make a capital loss, you can’t claim it against your other income, but you can use it to reduce a capital gain in the same year. If your capital losses exceed your capital gains in an income year, you can generally carry forward the loss and deduct it against capital gains made in future years.
All assets acquired from 20th September 1985 are subject to CGT unless specifically excluded. Most personal assets are exempt from CGT including your home, car and most personal use assets such as furniture. CGT also doesn’t apply to depreciate assets such as business equipment.
Businesses may be required to pay income tax, goods and services tax (GST), payroll tax and fringe benefits tax (FBT), among others.
Yes, you can claim deductions for expenses directly related to earning your income such as operating costs, travel expenses and equipment depreciation.
Strategies include maximising deductions, taking advantage of tax offsets and credits, and effective tax planning with a tax accountant.
PAYG withholding is a system where businesses withhold amounts from payments made to employees and contractors and remit them to the ATO.
You can register for GST through the Australian Taxation Office (ATO) if your annual turnover is over $75,000.
Late payments can result in interest charges, penalties and potential legal action by the ATO.
Find out how Ark Accounting can help your Business Financials & Tax.
Fringe Benefits Tax (FBT)
How ARK Accounting can help
If you reward your employees with benefits other than their salaries, you must pay fringe benefits tax (FBT). Our tax accountants are here to help. Together, we’ll maximise the tax savings you’re entitled to, identify potential fridge benefits and create effective strategies to reduce your FBT liability. Don’t forget that the FBT year differs from the financial year and is from 1 April to 31 March.
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Find out more about our Business Financials & Tax service and learn how it can benefit your business.
Many organizations realize the
benefits of forming work teams.
Ahad Abul Kalam
Managing Partner
Rayan Botton Noonan
Manager
Sharmin Ali
Customer Relations Manager
Lewis Water
Senior Consultant
Brent Mclauchlan
Senior Consultant
Saif Rahman
Accountant
Henry Hu
Senior Accountant
Ishmam Ahmed
Accountant
Kelly Ma
Accountant
Christine Naguiat
Accountant
Shanine Antonio
Accountant
Janelle Lansang
Accountant