Virtual CFO
Elevate your financial strategy with Ark Accounting’s Virtual CFO services. Get expert financial oversight and strategic advice tailored to your business needs.
Navigating Compliance with Confidence: Your Virtual CFO Solution
The government requires business owners to manage a range of complex tasks—Business Activity Statements (BAS), income tax returns, fringe benefits tax returns, and more. The better your numbers, the smoother this process can be.
Businesses often struggle when owners are unclear about their compliance obligations and deadlines. This is especially true for new business owners who may not fully grasp what’s required. Falling behind on tax obligations is one of the leading causes of business failure in Australia. In an increasingly complex tax landscape, staying up to date with taxation regulations is essential for businesses of any size or industry.
Our Virtual CFO services at Ark Accounting provide the expertise and support you need to manage these challenges with confidence. Our team of tax accountants will collaborate closely with you, sharing their knowledge to ensure transparency and compliance.
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 while ensuring full adherence to current taxation laws.
With Ark Accounting’s Virtual CFO services, you can have absolute confidence that your business or personal tax is in expert hands.
Experienced and qualified
tax accountants.
At Ark Accounting, we provide expert advice on crafting the best business plan and structure tailored to your current situation and future growth plans. Our comprehensive approach ensures that your business is positioned for success by helping you:e 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).
- Minimise income tax
- Maximise asset protection
- Facilitate the addition of new business partners or investors
- Ensure compliance with all legal requirements specific to your industry
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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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