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It’s time to stop treading water and build confidence with a better performing business.
23 Hamilton St,
Subiaco WA 6008
It’s time to stop treading water and build confidence with a better performing business.
23 Hamilton St,
Subiaco WA 6008
Tax compliance is only one part of a sound business tax plan. In Australia, businesses registered for GST must lodge a Business Activity Statement (BAS). Business tax advisory in Perth can connect these obligations with tax planning and broader financial decisions.
Keeping records, meeting reporting responsibilities and planning for tax can feel like separate jobs, especially when you’re managing the business day to day. A joined-up approach helps you see how tax decisions relate to cash flow, business goals and future financial needs.
This article explains what business tax advisory can cover, how compliance and tax planning work together, and what to consider when choosing support. It also explores how accurate bookkeeping and financial planning can inform business decisions.
This content is for general information only, not advice tailored to your circumstances. Seek professional advice before making business-structure or financial decisions.
For Australian businesses, tax compliance means keeping reliable records, meeting reporting obligations and paying amounts due. Start by matching each transaction to a clear record. For example, link a supplier invoice to its payment and accounting entry. This gives an accountant better information to prepare returns and identify errors before lodgment. Consistent processes also help you see whether cash is available for upcoming liabilities.
Compliance can support better financial decisions when records are useful for more than reporting. Review income, costs and outstanding invoices alongside accounting reports. For example, a Perth business noticing late customer payments can distinguish a cash-flow problem from a tax expense. That makes decisions more grounded in actual business activity. A documented process for storing invoices, reconciling accounts and reviewing reports also makes it easier to prepare information when a return is due.
When comparing tax advisers, consider their relevant qualifications, experience with businesses like yours, service scope and approach to reviewing your finances. Ask for a written explanation of fees, what the work includes and how advice will address your obligations. Compare the proposed support with your needs, such as tax returns, GST reporting or planning.
ATO lodgment and payment deadlines vary by obligation and reporting cycle. Use the dates in the relevant ATO notices to create a calendar for each return and payment, including who prepares and reviews it. An accountant can help organise this workflow around your records and reporting responsibilities.
In Australia, businesses registered for GST must lodge a Business Activity Statement (BAS). BAS reporting includes relevant business activity, including GST, so keep records of sales, purchases and other transactions organised. Link invoices and receipts to their accounting entries, then reconcile those entries before preparing the BAS. Tax advisory can help clarify the reporting process and improve recordkeeping consistency.
Tax deductions also need to be supported by sound records. Keep the invoice, note the business purpose and record how the cost relates to earning business income. A business purchase, for example, should be identifiable in the accounts rather than mixed with personal spending. Reviewing expenses throughout the year helps flag missing evidence and supports accurate reporting. Eligible deductions can form part of tax planning, but records must make the underlying transaction clear.
Business tax and compliance advisory brings these tasks together: an adviser can review records, reporting processes and upcoming obligations, then explain how they affect business decisions. Bring recent financial reports, transaction records and any ATO correspondence to a review. This gives the discussion a practical starting point, whether you need a clearer BAS process, more reliable accounting or a better understanding of your tax responsibilities.
Lodgment and payment deadlines vary by obligation and reporting cycle. Use the dates in the relevant ATO notices to calendar each return and payment.
Tax planning in Australia starts with decisions about how income, costs and risk are managed. A business structure affects tax outcomes, so consider a sole trader structure, company or trust in light of your income, risk and long-term goals. Each has different tax implications. The structure should suit how the business operates, not be chosen on tax rates alone.
For a start-up, work through three practical steps before trading: choose a structure, complete the registrations that apply and establish financial systems. A separate business account and consistent transaction records can help track income and expenses from the start. Recording an equipment purchase as a business transaction, for example, keeps it visible for review. Good foundations make it easier to monitor cash commitments and prepare for tax obligations.
Proactive planning also means considering when income is received and whether expenses qualify as deductions. Timing can affect the period in which income is reported, while eligible deductions may affect taxable profit. Decisions should reflect genuine business activity and clear records. Before major commitments, compare expected income, planned purchases and operating costs. This helps you understand potential tax liabilities and plan cash reserves without assuming a particular saving.
Business plans should connect tax considerations with commercial goals. If you’re considering hiring, investing in equipment or entering a new market, first model the expected costs and income. Compare the forecast with current cash flow and upcoming commitments. A partnership, a business run by two or more individuals, also needs clear arrangements for contributions, responsibilities and sharing business outcomes. These discussions support more informed financial decisions.
Succession planning brings business value and personal goals into the same conversation. Start by identifying what drives value, such as recurring customer relationships, reliable processes or key equipment. Then consider who could take over, what information they would need and how a transition could affect your retirement plans. A business valuation can provide a structured view of assets, income and risks to help assess possible transition paths. Consider tax implications alongside timing and personal financial needs.
A planned review can bring these threads together: outline the business goal, compare available options, and record the tax and cash-flow effects. This gives you a clearer basis for decisions about growth, transition or long-term success.
Tax decisions can shape more than your annual tax return. Accurate, up-to-date bookkeeping gives an accountant a clearer view of income, costs and cash flow. That information can support decisions about equipment, hiring or expansion. Before committing to a purchase, for example, compare it with the cash needed for wages and supplier payments. This connects tax planning with the practical financial needs behind business growth.
Before meeting a tax adviser in Perth, prepare recent financial statements, bookkeeping records, prior tax returns and a list of decisions you’re considering. Include forecasts for expected income and major costs, such as a new vehicle or staff member. Clear records help focus the discussion on specific choices and their possible business and personal effects.
Financial statements and tax returns serve different purposes, but they should tell a consistent story. A profit and loss statement shows revenue and expenses, while a balance sheet summarises assets and liabilities. Compare these with the tax return figures and note differences, such as an expense recorded in one period but reported in another. This gives an adviser useful questions to investigate and helps you understand how reported results relate to day-to-day trading.
For an innovative business, connect proposed development spending with its expected commercial value. Map project stages, cash requirements and likely revenue before deciding how to fund the work. A business developing a new service, for example, might compare development costs with its operating budget and planned investment. This supports a grounded discussion about financial capacity and funding options, without assuming every project qualifies for a concession or support program.
Business finances also affect personal wealth and financial goals. If you’re planning to reduce your workload, sell a business or prepare for retirement, compare personal income needs with business cash flow and future plans. A financial plan can bring these priorities into view alongside tax decisions. For example, consider how retaining profit for business investment may affect your personal savings plan. This makes the trade-offs clearer before you act.
Tax planning schemes can create risks if they rely on artificial transactions, promise unusually certain tax outcomes or pressure business owners to act quickly. Ask the adviser to explain the commercial purpose, assumptions and records behind any proposed strategy. To check credentials, request the adviser’s full name, qualifications and relevant registration details, then verify them through the official register for their professional role.
These steps turn a general discussion into a review of specific decisions, from funding innovation to planning personal wealth. Keep forecasts and bookkeeping current so advice reflects your business’s actual position.
Business and corporate tax services help owners understand how taxation connects with transactions, reporting and commercial plans. A useful review starts with the current business structure, recent financial statements and upcoming decisions. For example, a company considering expansion can map expected costs, income and cash commitments before proceeding. Business tax advisory in Perth can bring tax considerations into that planning discussion, rather than leaving them until year end.
For a corporate tax review, organise information by topic: revenue, operating expenses, asset purchases, finance arrangements and ownership changes. Compare each item with the accounting records and identify questions that need attention. If a company has bought equipment, for instance, an adviser can review the transaction details and explain how to consider it in tax reporting. Clear records make the discussion specific and useful.
Tax planning works best as a series of decisions, not a last-minute search for deductions. Review forecasts, planned purchases and expected cash position before committing. This can help you understand trade-offs and choose a path that supports your operating goals. It does not mean every strategy will reduce tax. The business purpose, available records and relevant circumstances all matter.
Corporate activity can also change the questions an adviser needs to consider. A new shareholder, a change in company operations or a major asset sale may affect how records and future plans should be reviewed. Keep a decision log with the date, purpose, people involved and supporting documents. This gives an adviser useful context and connects each transaction with the company’s broader financial position.
If you’re seeking business tax advisory in Perth, clarify the work you need before a review begins. Note whether you need help understanding a transaction, planning for year end, reviewing financial information or preparing for a major decision. Ask what the work covers and how the advice will be explained. A clear scope helps you assess whether the proposed support matches your priorities.
Useful questions for an advisory meeting include:
Bring the company’s latest accounts, a list of planned transactions and relevant agreements. If you’re reviewing a new operating arrangement, for example, explain its commercial purpose and expected effect on the business. This keeps business tax advisory in Perth focused on the decision at hand. With the right information, you can assess options and make tax considerations part of a more informed business plan.
For 2025-26, a business’s tax position depends on its structure, taxable income and eligibility for relevant concessions. A sole trader, company and trust can have different tax implications, so the business structure alone doesn’t tell the whole story. Start by identifying the entity that earns the income and the financial information used to calculate its taxable result.
Keep three terms distinct when reviewing a tax estimate. A tax rate applies to a taxable amount; a threshold can determine when a rule or treatment applies; a concession may change how eligible income or expenses are treated. These terms are not interchangeable. A business’s sales revenue, for example, is not automatically its taxable income, because expenses and other tax adjustments can affect the final calculation.
To assess a company’s likely position, bring together its financial statements, transaction records and income forecast for the relevant year. Compare projected income with actual results, and separate business expenses from personal spending. Then identify changes that may affect the estimate, such as a new income stream, asset purchase or change in structure. This gives a tax adviser a clear basis for assessing which rates, thresholds or concessions may be relevant.
Eligibility matters. Do not treat a concession as an automatic reduction or include it in a cash forecast before its conditions have been assessed. If you’re planning an investment, for example, record the purchase details, commercial purpose and expected timing, then ask how these facts affect your tax position. Keep supporting documents with the transaction record so the reasoning is clear during tax preparation.
For 2025-26 planning, use a simple review process:
This approach helps you compare tax estimates with cash-flow plans without mistaking an estimated liability for a final amount. If a company expects lower sales than forecast, for instance, revise the income projection and review the assumptions behind the estimate. Record what changed and why.
For a Perth business, the useful question isn’t simply which rate applies. It’s how the business’s structure, taxable income and eligible transactions combine in 2025-26. Keep those details organised, and use professional advice to assess the relevant tax treatment before relying on a rate or concession in your financial plan.
The applicable tax treatment depends on whether income belongs to a sole trader, company or trust, the entity’s taxable income and its eligibility for concessions. Rates apply to taxable amounts, thresholds determine when a rule or treatment applies, and concessions can change how eligible income or expenses are treated.
KHT Accounting & Wealth can help connect your business accounts with practical decisions about tax and future plans. Its Business Accounting Services can support clearer financial records and a better view of business performance. Turn to this support when tax obligations feel disconnected from cash flow, or when you’re planning a change that could affect the business’s finances.
Business Advisory can help you assess business decisions, while Financial Planning and Wealth Management can bring personal priorities into the wider picture. Together, these services can help you consider how business choices align with long-term financial goals, rather than treating tax as an isolated task.
To discuss your business accounting needs, contact KHT Accounting & Wealth.
Tax planning can support stronger decisions when it connects with where you want your business and personal finances to go. If you’re weighing a change, preparing for growth or seeking a clearer view of your financial position, business tax advisory in Perth can help you consider tax implications alongside your wider plans.
KHT Accounting & Wealth offers Business Accounting Services, Business Advisory and Wealth Management to bring business performance and longer-term financial goals into the same conversation. Start by identifying the decision you need to make and the information that will help you assess it.
This content is for general information only. Seek professional advice from a registered professional about your circumstances before making business-structure or financial decisions.
A clearer plan starts with a practical conversation. When you’re ready to move forward with greater confidence, book a meeting with KHT.
Business tax advisory can cover tax planning, accounting records, annual accounts and tax returns, as well as advice on how business decisions affect tax. The scope should match the business’s needs. A company preparing for an ownership change, for example, may need to discuss that transaction alongside its accounts. KHT Accounting & Wealth offers Business Accounting Services, Business Advisory and Tax Advisory for businesses seeking connected support.
Look for an adviser whose work suits your business structure and stage, then discuss the specific decisions you need help with. A start-up may need guidance on organising its finances, while an established company may be planning for growth. KHT Accounting & Wealth provides business accounting and advisory support in Perth, including from its Subiaco base, for business owners seeking help with financial performance and planning.
Businesses can claim eligible deductions, and some may qualify for concessions, but eligibility depends on the business’s circumstances and the relevant rules. Keep records showing what each cost relates to and how it connects with business activity. Before lodging a return, review potential claims against the business structure, accounts and tax position. This helps distinguish supported claims from assumptions and gives an adviser clear information to assess.
Article by
Ben Elliot
I'm Ben, and I help Aussie business owners make more profit, pay less tax and build long-term wealth. I've been an accountant for over 20 years, and you can access my knowledge on things like business structures, tax planning and wealth-building through any of the channels below,
If you'd like to discuss your specific business and financial goals, my team at KHT Accounting & Wealth would be happy to have a chat! Reach out to me directly on https://calendly.com/benelliott
The information contained on this website is intended for general informational purposes only and does not constitute financial, tax, or legal advice. While KHT endeavours to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability of the information. Any reliance you place on such information is strictly at your own risk.