Taxation Services in Adelaide
Taxation & business Services
Our taxation consulting division is nationally recognised.
Let us help you turn your business idea into a reality.
Did you know that we can set up
your Self Managed Super Fund ?
The GST system is a complex and confusing one. For this reason Wilson Colman ensures its staff are continuously up to date on any changes, and able to offer you accurate advice.
Every transaction now brings with it a GST issue. We have experience with these issues and are able to offer expert advice on the implications of GST for your business. The GST related services we offer include, but are not limited to:
- Advice on registering for GST
- Preparation and lodgement of Business Activity Statements
- GST and property transactions
At Wilson Colman we offer a full range of taxation services. Our taxation consulting division is nationally recognised which means we can offer advice based on proven knowledge and experience. Our proactive approach ensures we deliver a consistent service and build solid relationships which stand the test of time.
Taxation can be a major cost to your business. We will work in partnership with you to minimise your tax and help you achieve your key objectives.
We provide a complete service of help and advice in all of the following areas:
- Preparation and lodgement of tax returns for individuals and businesses
- Preparation of financial accounts
- Preparation of activity statements and advice on payment of tax
- FBT obligations
- Advice on and implementation of tax effective trust structures for asset protection and tax minimisation
- Management of any ATO Audits or disputes
- Capital Gains Tax
- Assistance with PAYG obligations
Capital gains tax (CGT) generally applies to CGT events that happen to CGT assets acquired after 19 September 1985. CGT is not a separate tax; it forms part of income tax.
The most common CGT event is the disposal of an asset by selling it or giving it away. Wilson Colman will calculate the cost base and net sale proceeds for you to establish if a capital gain or a capital loss has arisen.
A CGT asset is any kind of property, or a legal or equitable right that is not property. CGT assets include:
- Land and buildings
- Shares in a company
- Units in a unit trust
- Part of, or an interest in, a CGT asset
- Goodwill, or an interest In it
- An interest in a partnership asset
Special rules apply to some kinds of CGT assets, including collectables, personal use assets, certain investments, leases and options.
Modern business demands up to date accurate financial information.
We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.
We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
Have you ever wondered if you are holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all expenses every month?
Survival in today’s business climate requires you to spend more time working on your business rather than in the business. We can provide you with accurate, timely and informative cash flow forecasting reports – allowing you to:
- Realize and understand when cash is available
- Plan and prepare for expansion, stock control, and taxes
- Analyse and anticipate key expenses
Armed with this information, we’ll work with you to develop action strategies to improve your bottom line.
The pressures of daily business can often mean strategic planning takes a back seat – but to have a successful business you must plan ahead.
We’ll help you establish a strategic plan that looks at where you want your business to be in the next 3-5 years and exactly how you and your team can achieve these aims and objectives.
Your strategic plan will:
- Define the characteristics of your business in three to five years
- Identify your competitors
- Define your objectives and financial goals
- Put in place an effective implementation plan to achieve your goals
At Wilson Colman we have the necessary expertise to assist in a variety of areas in relation to residential and commercial property.
The services we offer our clients include:
- Advice on the purchasing of a property
- Reviews of lease agreements
- Advice on funding
- Guidance in tax minimisation
- Advice on ownership structure
- Periodic reviews to ensure returns are maximised
The importance of forecasts in making a residential investment cannot be emphasised enough. We are able to provide for you:
• Forecasts of revenue returns
• Forecasts of financial position
• Forecasts of potential growth
Contact us today for more information about how we can assist you in the business of rental properties.
As the Government encourages Australians to take responsibility for and reach their financial retirement goals, citizens are repeatedly required to deal with superannuation funds.
Self-managed superannuation is a means of saving for retirement. It allows you to control your investment strategy, reduce tax while obtaining tax benefits, and control administration costs.
Superannuation law is a delicate area and personalised planning is required for each individual. At Wilson Colman we are superannuation experts and can assist in establishing a superannuation fund that will effectively allow you to reach your financial retirement goals.
Services we offer include:
- Establishment of Self Managed Superannuation Funds
- Prepare annual accounts
- Prepare taxation returns
- Advice on pension and lump sum payments
- Advice on property acquisitions and borrowing
- Succession planning
- Advice concerning compliance matters
- Advice concerning taxation benefits
- Advice on employer obligations
- Arrange for superannuation audits
Let us help you turn your business idea into a reality.
If you have a good idea for a new business venture but don’t have expertise in the legal or financial aspects of creating a new business, we can help you:
- Decide on the most suitable structure for your business – sole trader, partnership, trust or limited company
- Prepare a business plan, cashflow projections, budgets, and trading forecasts
- Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
- Establish a good working relationship with your bank
- Register for an Australian Business Number and Tax File Number with the ATO
- Complete registration procedures with Australian Securities and Investments Commission
- Deal with company secretarial issues
- Set up a recording system for your internal use and for complying with statutory requirements
- Register for Workcover
Selling a business can be a difficult, often disheartening time. In this state the tasks involved in selling a business can seem particularly arduous. Here at Wilson Colman we are able to relieve that stress for you.
The services we provide in relation to organising the selling of a business include:
- Obtaining comparative results
- Establishing a realistic sale price
- Taking the business to the market
- Negotiating with potential purchasers
- Drafting a contract
Our friendly and professional staff are able to assist in such a way that a maximum return for your business can be achieved.
A trust provides a valuable way of protecting the assets you have accumulated for the benefit of others.
We have extensive experience and so are able to offer specialist advice on Trust formation, ensuring that all statutory requirements are met. Obligations for trustees can often be onerous, and our assistance in Trust administration will also be invaluable.
We are able to:
- Prepare and execute the vital documentation involved in Trust formation
- Attend to the special requirements involved in reporting for Trusts
- Trust administration
- Minute keeping service
- Annual accounts
- Asset management
- Investment monitoring
- Income distribution
Contact us today to ensure that your trust is formed and administered as effectively as possible, covering all legal requirements allowing it to fulfil its purpose.
An independent valuation provides you with answers to the questions you often need to ask about the value of a business or property. Am I getting the best price for the sale of my business? Is the asking price too much?
We are trained and experienced in business valuations and are able to provide you with simple guidelines and formulae for evaluating the worth of a business. We are also able to appear in court and in arbitration as expert witnesses in relation to business valuations.
Choose Wilson Colman for a professional and accurate valuation service.
Farm accounting involves specific business, financial, and taxation issues, and as such requires a specialist understanding of the industry. At Wilson Colman we keep abreast of the developments in both the farming and accounting industries, putting us in a position to provide up-to-date and accurate advice.
Our services include:
- Farm budgeting and cash flows
- Farm sales and purchases
- Ownership structures
- Preparation of financial statements
- Seasonal planning
- Succession planning
Company legislation requires businesses to perform many administration tasks which take up a lot of valuable company time. The last thing you need as a business owner is to be stressed out trying to ensure you are complying with the Corporations Law.
The possible threat of penalties for failing to keep up with the changing rules is too great a risk to take.
At Wilson Colman we are able to relieve this burden for you. Our services include:
- General advice on company law
- Company formations
- Filing of annual returns on your behalf
- Preparation of all documentation related to minutes and resolutions
- Maintenance of statutory books
- Assistance in changes of directors, shareholders, addresses, and office details
- Bonus Issues
- Share transfers
- Registered Office Facility
In ensuring the long term success of your business, it is critical to establish a well-designed succession plan. Coordination of the transition of your business to your successors can be an arduous process. However, with our years of experience we can address the complex issues of business continuation, taking the stress off your shoulders.
Contact us for more information on forming a plan that allows for a hassle free continuation of your business.