March 29 2022 treasurer Josh Frydenberg has handed down the budget. Having a strategy of stimulus pursued alongside major infrastructure, health and defense spending. Borders are open and Australia is getting back to business Added to this spending, is the assistance through tax breaks and cash payments to assist with the cost of living…Download our full budget summary
For small businesses, auditing can be extra and unnecessary work. It can be costly, and small businesses would rather not do so, especially if not required. However, auditing can be beneficial for a lot of small businesses. If you consider getting your business audited, check the list below to learn more about how it could help your business.
Applying for a Business Loan
If you are planning to get a business loan, you need to be able to present your company as a legitimate business to the lender. An excellent way to do this is by getting your business audited by an expert. A business audit can help make your business look like a viable investment on the lender’s part; they want to ensure that your business is doing well so they do not lose their money.
Securing Government Grants
Like with lenders, the government will not give grants to just anyone. They would want to receive an accurate financial statement of how the business is faring. An audit will not only provide accurate data, but it can be excellent proof that the company is doing good and will continue to do well in the future.
Keeping Shareholders Updated
Shareholders will want to know how well the business is doing financially. They would like to keep track, considering they own a part of the business. An audit will give your shareholders a good view of the stand of the business in terms of its finances. It assures them that they are not being swindled and that their investment is in good hands.
It will also help them understand which aspects of the business may need more attention than others and how they can continue to support the company as shareholders.
Track Fraudulent Activity
If your business is not auditing, anyone can get away with committing fraud, especially the employees. Auditing is a detailed manner of checking finances and identifying any discrepancies in statements. Furthermore, you can check the business’s weak areas and see what can be done about them.
Without an audit, your business could be easily losing money without being detected. It may already be too late by the time you notice it, and the perpetrator can get away with it and hide their tracks.
Selling Your Business
For people planning to sell their businesses, audits are a must. An audit will give buyers all the information they need to make a good decision on purchasing a business. It will provide buyers with confidence in the choice, and it would also make sure the owner commits no fraud.
Complying with Regulatory Obligations
If you are not auditing your small business, you are not complying with rules and regulations. It is a good idea to get your business regularly audited to have documents to show that you comply with Australia’s laws.
Conclusion
If you have not been auditing your small business, then it is time you do so. Auditing can help your business get loans and apply for government grants, as well as keep your shareholders updated on your financial status. It will also help you track any fraud or discrepancies in the company and help you prevent it before it gets worse. Overall, auditing gives you an overview of your business and how it is going.
If you need a small business audit done, you can work with SMB Accounting. You do not have to worry about keeping track of your books and finances, and you can focus on growing your business. Contact SMB Accounting today to get started.
Each fiscal year, no matter the profit earned, all businesses must file a tax return with the Australian Taxation Office (ATO). As a business owner, you must file a tax return if you own a business that operated in the previous year. Today, there is more than one way to accomplish this task.
For example, you can file it electronically via MyTax, on paper, or through a licensed tax agency. Because the file must be completed within a certain time frame, you, as the business owner, must proceed with considerable caution.
Read on to discover everything about lodging your company tax return.
Options for Filing myTax Return
A tax return can be filed in a myriad of ways. Depending on your circumstances, you may choose an alternative.
- Online: It is safe, simple, and secure to use myTax to create and submit your tax return online.
- Tax Agent: Licensed tax agents have a wide range of interests, which may make hiring one advantageous. If this is your first time filing taxes, you should seek advice from a certified tax agent.
- Paper: If you don’t feel comfortable filing electronically, you can do so on paper. It is possible that exceptional circumstances will emerge, in which case you must respond accordingly.
- Advanced Filing: You may file your tax return early if you are leaving Australia permanently.
- Abroad Filing: Assume you are filing your tax return for a legitimate cause while abroad. In that scenario, you’ll need to make modifications to your myGov account settings. In order to receive any returns, your Australian bank account must be active.
Note that any previously unfiled tax returns must be filed. Otherwise, sanctions could be imposed. Meanwhile, non-lodgement counsel is required when no tax return is required.
Details to Provide
Prior to completing your corporate tax return, you will need the following information:
- Account number and bank’s state branch
- Statements of Earnings for All Employees
- Centrelink payment summaries
- Income from your spouse
- Expense or receipt statements for tax deductions
- Information of private health insurance
Because the ATO fills up the majority of the information for you when you apply online, you should file your tax return through myTax. You must first link your myGov account to the ATO in order to file your tax return online. Furthermore, the needed information fluctuates from year to year, so double-check before booking.
Deadlines for Your Company’s Tax Return
When it comes to the tax return filing deadline, keep the following points in mind:
- The deadline for filing it on your own is 31 October each year.
- If the 31st of October falls on a weekend, you must file by the next working day.
- If you hire a tax preparer, they will be given the option to file returns at a later date. You must, however, recruit them by October 31.
- If you receive a tax bill after filing your return, you must pay it by November 21 of the following year.
- If you are having trouble filing your tax return or paying your tax obligations, please contact the ATO right away.
Conclusion
Note that sometimes it’s not all about raking in revenue and increasing your profit. A part of your company’s success is fulfilling your responsibilities and adhering to laws. This way, your company can function at its fullest without worries. As you file your company tax returns properly and timely, you’ll reach success without undercutting the necessary steps.
Are you in need of a professional accountant in Australia? SMB Accounting is here to manage your small business’ finances, and more. Work with us today!
A tax deduction reduces taxable income, allowing qualifying businesses and individuals to lower their tax obligations. There are two basic types of tax deduction in Australia: deductions for eligible expenses and tax deductions for specific types of income. If you are preparing your business for tax season, keep in mind that you could get potential tax deductions if you know the right one for you.
Let this article enumerate some you can use.
The Instant Business Asset Write-Off
The instant asset write-off is available to businesses with a turnover of less than $10 million. The main goal of this is to reduce the compliance burden of small businesses and allow them to invest more in their business assets.
From March 2020, every asset’s instant asset write-off threshold amount is $150,000, significantly higher than the previous $30,000. Businesses are also allowed until 30 June 2021 to first use or install the said asset, which should have been ready for use. The only note is that the asset should have been purchased by 31 December 2020.
This tax deduction is for small businesses with an annual turnover of less than $10 million and allows a depreciation deduction for assets used to generate income. It aims to ensure businesses have enough money to cover the cost of assets and reduce the burden for small businesses.
Your Prepaid Expenses
If you are a small business owner, you may be able to claim a tax deduction on work you have already done. That includes paying a deposit on your business premises or buying stock to be sold in your small business. Remember, though, that your prepaid expenses must help you earn taxable income.
There is one important thing to remember when claiming your prepaid expenses. If you use the cash basis tax system, the prepaid expenses must be paid in the same income year. If you use the accrual basis, you can claim prepaid expenses under the following rules:
You can claim the expenses if they are incurred and paid in the same income year. If the expenses were incurred but not paid in the income year, you could claim the payments in the income year you paid for them.
Personal Super Contributions Deductions
If you make personal super contributions, you can claim them as a tax deduction. To qualify for this tax deduction, you must make personal super contributions to your super fund, not to your spouse’s super fund. It’s important to note that personal super contributions must satisfy the following:
- You must not be contribution- or benefit-restricted
- Your total super must be less than $1.6 million
- You must have at least 10% of your total contributions in your super fund in the income year
The tax deduction is available for personal contributions up to $3,000 per year, and a maximum of $30,000 over three years. However, if you are over 49 years of age and you meet the above conditions, you may be able to claim a tax deduction for personal super contributions up to $100,000 over a three-year period.
You can claim your tax deduction for personal super contributions in the same income year you made the contributions.
Conclusion
Preparing for taxes can be exhausting. However, one important thing to remember is that your business has some deductions you can take advantage of. When preparing for tax time, you should check whether your small business can claim a tax deduction on your expenses or whether you can claim a tax deduction on your personal super contributions. These tax deductions may save you money come tax time.
If you are unsure of these rules and limits, we can help. SMB Accounting is an accounting firm along the Sunshine Coast that can provide you with your much-needed SMB tax solutions. Contact us today at 1-300-854-159.
Given how messy finances can be it pays to have a quality audit every once in a while. It’s understandable of course to face difficulties with organizing your financial records— what’s important is how you deal with them. Thus, it is vital that any audit you undergo is kept to a standard. It’s the only way to really know that the service you’re paying for is worth your time and money.
Why This Is Important
The main reason you want to make sure that your audit is done right is to make sure that the people dependent on your company’s financial statements, shareholders and investors alike, will feel more confident if they know that your records are clean and accurate. After all, if people know they can trust you that makes making deals with them a lot easier for you, right?
The challenge now is that it can be tricky for others to find the perfect auditing firm. With so many new firms popping up it becomes difficult to find a firm that is strict with its practice. For that, you’ll need to know what makes a good firm.
A Proper Vision
The right firm will have the right vision. It might seem like a vague tip now but you’ll know it when you actually get to talk with their management. If you can get an idea of what their goal is, you can have a better understanding of what you stand to gain with them.
It should be noted that not every firm will even be willing to talk to you. Take this as a reflection of their attitude. A professional firm should be open to dialogue with anyone, be it a current client or a potential one.
A Firm With Integrity
When you look for an auditing firm you are putting the firm up against a list of requirements and such for them to pass your standards. This shouldn’t be a one-sided thing. Make sure that whatever auditing firm you check out is checking your background as well.
The reason for this is that you do not want an auditing firm that is willing to work with shady companies. Think about, should they be implicated, all your records will be thrown into question immediately. It’s a show of quality whether they care about your background or not.
Financial histories, relationships, and similar topics should be covered in whatever interview you end up doing. Of course, others might make use of forms but, again, take this as a reflection of their approach. We all know a face-to-face interview would be a lot more effective.
The Right Team
Lastly, we have the team. Take your time talking to all the members of the auditing firm you can. Try to get a feel for what they focus on, what their attitudes about work are like, and how they treat their clients.
The reason you need to do this is to understand what kind of people will be working on your financial records. Of course, you’re going to have to factor in the fact that these are all unique individuals. The point here is to get a feel on how seriously jobs are taken in their team.
Conclusion
At the end of the day, it’s all about being prepared. It’s unsurprising that auditing firms are such a necessary service but it is something that we should take seriously every time we undergo an audit. Take some time to learn what you can about the auditing firms you are interested in before even visiting. What’s important is that the job is done right.
SMB Accounting provides quality services for an SMSF audit in Australia. Aside from that, we also do other types of audits to ensure that you’ll have an idea of how your business or your finances are doing to help you take the best course of action. Contact us today to learn more!
Our financial year ends on 30 June, and for some people, it’s straightforward. But for others it can be a little more complicated, especially if you are doing your numbers for the first time.
The average number of Australians during the 2010 – 2011 financial year, who lodged their tax returns online with the ATO (Australian Taxation Office) were 5.3 million people.
Many people search for legal tips to maximise their tax returns, while others look to reduce tax liability legally. Even if you want to pay your tax in full, there are legal steps that can help you save money.
Here is how you can do it.
1) Claim Work-From-Home Expenses
You can claim a deduction for expenses that you incur while working from home. Generally, you can claim either the ‘actual’ or ‘reasonable’ amount of the expense.
In ‘actual’ claim, you can deduct expenses that actually have occurred. These expenses may be work related, such as phone calls and internet. You can also claim for cleaning expenses – for example, cleaning products, vacuum cleaner and laundry detergent.
On the other hand, in ‘Reasonable’ claims, you may not have spent the money on a particular item, but if the cost is in line with market conditions, you can claim the actual amount that you have spent.
To claim work related expenses, you need to keep receipts and other records of your expenses. The ATO will typically send you a Notice of Assessment at the end of the financial year.
2) Claim Other Work-Related Expenses
Working from home isn’t the only way to claim work-related expenses. Here are some other deductions you can claim:
If you bought a computer for work, you can claim for depreciation. If you are on an hourly wage and you use an electronic diary to clock your hours, you can claim for the diary. If you travel for work, you can claim your travel expenses. If you bought a uniform, you can claim for those.
Keep all receipts. If you are not sure whether your claim is tax deductible or not, you can search the ATO’s website or contact them to settle your doubt.
3) Reclaim Your Donations
You can claim tax deductions for donations, up to certain limits. If you have donated to charity or religious organisations, or if you have made donations under the tax-deductible gift recipient scheme, you can claim tax deductions. You will be able to claim a deduction if you have paid for someone else’s travel, accommodation and meals.
The basic rule is that you can claim a tax deduction for donations to charities, approved organisations and religious institutions that are registered with the Australian Charities and Not-for-profits Commission (ACNC).
To claim a tax refund, you can log onto the website of the ACNC and search the list of registered charities and organisations. You can also ring up the ACNC to check whether an organisation is registered.
4) Claim Your Extra Refund from Working Side Jobs
Extra earnings from side jobs are usually not enough to be included in your Tax Return. However, this does not mean that the tax office will not ask you to update your tax return.
To have your extra income in the tax return, you need to be in the same occupation. For example, if you are a web designer and you have worked as a tutor, then you can add the income from the tutor job to your web designing job.
Conclusion
In order to minimise your tax liabilities, you need to ensure that you are deducting all the right amounts. But be careful not to claim for something that you are not cetain about.
If you’re not sure what to claim, get a professional opinion on your financial health. SMB Accounting has some of the best accountants in Sunshine Coast, QLD. Get in touch with us today to learn more.
Everyone makes errors from time to time. When preparing and lodging your self-managed super fund (SMSF) annual return (SAR), you want to get it right. The top five errors are listed below, along with some advice on how to avoid them and where to find the best accounting firms on Sunshine Coast.
Not Stating a Bank Account in Your Fund’s Name
You’ll need a bank account in your fund’s name to handle SMSF operations and accept contributions, rollovers of super, and investment income. When filing your SAR, you must include this account.
The account must be kept distinct from the accounts of your trustees and any associated employers or advisers. This will safeguard that you enjoy the benefits of SMSF and guarantee that super payments may be made to it.
Using The Wrong Electronic Service Address (ESA)
If you have members earning super from non-related jobs, an ESA permits your SMSF to receive electronic remittance advice and contributions.
An ESA is made up of alphanumeric characters that are case sensitive and contain a mix of upper- and lower-case characters. It’s not an email address or the SMSF messaging provider’s contact information.
Disregarding Assets In SMSF At Market Value
To create your fund’s accounts, statements, and SAR, assets must be recorded at market value as of June 30. Your valuation will be accepted if you fulfil the appraisal rules.
It’s critical to have accurate asset valuations to keep your SMSF compliant. Inaccurate appraisals may result in penalties since they adversely affect your members’ balances.
Lodging With Zero Assets
An SMSF isn’t legally created unless it has assets put aside for its members’ benefit. A SAR from an SMSF with no assets will not be accepted unless the fund is being wound up.
If this is your SMSF’s first year and you have no assets put aside for the benefit of your members, you can ask us to either terminate or indicate your fund’s registration as return not necessary (RNN).
Missing or Incorrectly Indicating Auditor Information in the SAR
Before lodging the Annual Return, your SMSF must have its financial accounts and records audited by a qualified SMSF auditor each year (SAR). Take note that within 45 days before your SAR is due, you’ll need to employ an approved SMSF audit in Australia.
Take note of the following:
- Before filing your SAR, get a copy of the audit report.
- On the SAR, report the accurate auditor information, including the SMSF auditor number, auditor name, and audit data.
- If you submit your SAR without providing authorized SMSF auditor details, it will be stopped and not accepted. The fund’s compliance status will be affected until the SAR is submitted with the appropriate information.
You might be fined for making a false and misleading statement if the auditor’s information is wrong.
The advantages of incorporating your ABN
We urge you to disclose your Australian business number (ABN) on your SAR since it assists systems in appropriately matching your members. This guarantees that the SMSF account data is presented when a member accesses ATO online services.
If your member is filling out the following forms online, they will be able to select their SMSF account.
- compassionate release of super
- early release of super
- excess concessional contribution election
- excess non-concessional contribution election
- Division 293 election
If your member utilizes a registered tax agent, it also implies that the member’s SMSF account data is displayed on online services for agents.
You may not need to file a return for the first year your fund was registered if it did not have any assets.
Conclusion
Preparing an SMSF annual return is a major undertaking that must be done correctly if you don’t want your fund to become non-compliant and be required to pay tax at a rate of 45% on the fund’s entire value, excluding non-tax-deductible contributions.
SMB Accounting delivers a high-quality SMSF audit in Australia. Apart from that, we also perform various sorts of audits to guarantee that you understand how your business or finances will make the best decisions. Get in touch with us to learn more!
If you run a business, you may find yourself struggling to keep up with annual tax obligations. Between managing your staff, your investors, and other challenges, it’s easy to forget about the responsibilities that come with owning a business in Australia. In this article, we’ll review what you need to know in case you miss tax deadlines.
What Are Tax Return Due Dates?
Tax due dates vary based on the type of business structure you choose. The Australian Tax Office (ATO) has a full list of lodgment due dates for the different types of returns and filings. It’s in your best interest to be informed about these dates so you can avoid any issues that come with late filings.
What Happens When You File Late?
If you lodge your tax returns late, you may be penalized by the ATO. This penalty can range from $180 to $900 for small businesses, depending on how long your returns take to arrive. The penalty can also add a rate of interest, starting from the due date of payment until your tax liabilities are paid. The interest rate at this stage is 7.04% for taxpayers
For those of you who cannot pay the ATO on the due date, be sure to contact the ATO about a defaulted tax payment arrangement. You can reach out to the ATO directly to request an extension to the due date for tax returns by calling them at 13-28-66.
What Can You Do to Avoid Late Tax Returns?
While it’s not ideal to lodge your business tax returns late, sometimes it just can’t be avoided. In case you end up lodging your business tax returns past the due date, it’s best to pay the outstanding tax as soon as possible.
If you have to pay tax for the income you received for the last financial year, you can make a tax payment before you lodge your income tax return. Tax payments are often due shortly before the income tax return is due or within a short time after that date.
The ATO can charge interest on any late payment of income tax liability, but you can prevent this from happening by making the tax payment before you lodge your tax return. If you don’t have all the information available to accurately calculate your tax liability, you can make an estimate and pay that amount as a down payment on your bill. Remember, the money will not count as a payment on your tax bill unless you file your return with the ATO.
Additionally, you need to pay off any outstanding tax returns from the previous two years. This can be accomplished by paying off the last year’s tax return entirely and setting up a payment plan for the current year. This will prevent your interest from continuing to compound on any previous years’ returns.
Conclusion
We hope this article proves to be useful when it comes to helping you deal with issues that come with filing late tax returns. To avoid any of these issues, it would be wise to lodge your tax returns in a timely manner. If you need more help with this, be sure to reach out to a professional accountant.
If you’re looking for an accountant on the Sunshine Coast to help you with your business’s finances, SMB Accounting is here to help. We offer various accounting services, such as individual tax returns, small business accounting, SMSF audits, trust account audits, special financial statements, and more. Learn more about how our accountants can help your business today!
So, you have a work-related trip coming soon, and you wonder how much of your travel expenses can you claim. If you are a small business owner or an independent worker who manages their taxes without an accountant, you might find the answers you need in this article. Here is what you need to know.
Defining a Work-Related Travel Expense
“Work-related travel expenses” refers to the соmеrсiаl travel expenses incurred by a taxpayer that is related to carrying out their job. It can be within or outside Australia.
Allowed Work-Related Travel Tax Claims
The ATO allows taxpayers to claim tax deductions for the following expenses:
- Transport costs (such as cost of fuel, ferry, train or taxi fares)
- Travel allowance paid to you by your employer or client (if applicable)
- Traveller’s cheques and foreign exchange fees
- Motor vehicle expenses (such as fuel, registration and loan interest costs)
- Telephone and internet charges
- Accommodation and meals
- Other expenses (as approved by the ATO)
You can refer to the ATO website for a comprehensive list of allowed work-related travel expenses.
What You Cannot Claim
Travel expenses cannot be claimed if they are not directly related to employment.
For example, you cannot claim travel expenses as a deduction if:
- Your employer or client covers the full cost of the work-related travel expenses; or
- Your employer or client reimburses you for work-related travel expenses after the expenses incurred.
Here are some examples for your reference:
Some common expenses that cannot be claimed include:
- Non-work-related telephone calls
- Expenses for travel within your workplace
- Meals and accommodation paid for by your employer or clients
- Travel insurance
- The cost of your flights, unless it is part of an allowance paid to you by your employer
- Travel to and from the airport
What If Your Employer Gave You Allowance?
If your employer or client gave you a travel allowance, you could claim tax deductions for the work-related travel expenses you incurred.
For example, you were required to travel from Sydney to Melbourne for work reasons, and your employer gave you an allowance of $400. That means you can claim $400 as a deduction.
The expenses claimed as a tax deduction must not exceed the allowance received. However, if you received less budget, you are required by the ATO to report the amount of expenses claimed as a tax deduction.
What If Your Employer Did Not Give You Allowance?
The ATO allows you to claim tax deductions for the work-related travel expenses you incurred, based on a reasonable amount.
You can claim a deduction based on a reasonable amount, provided the work-related travel expenses you incurred are supported by evidence such as:
- Receipts
- Diary entries
- Mileage
How to Keep a Travel Diary
What you should do before you start claiming for your work-related travel expenses is to keep a travel diary and record all the details of your travel, including the following deductible expenses: accommodation, meals, car expenses etc.,
It would be best if you keep a travel diary detailing:
- The reason for the trip
- Where you travelled to and from
- The duration of the trip
- The date and place of the trip
- The name and address of the organisation, person, or property visited
- The number of kilometres travelled or the amount of petrol used
- The total amount of travel expense you incurred
- The amount of your travel allowance you received
- Other benefits you received from your employer or client (if any)
- Any other relevant information
This travel diary will help substantiate your work-related travel expense claims during the tax return filing.
Conclusion
If you are a small business owner or an independent worker managing your taxes, it would be in your best interest to claim as many tax deductions as possible. Should you need to go out to travel for work, keep in mind that you need to have a travel diary to record all details of your work-related travel expenses. More importantly, keep all your receipts.
Let experts deal with your tax preparation, audits, financial preparation, and more while you focus on your work. SMB Accounting has been the trusted accountant on the Sunshine Coast since 1993. Call us at 1300 854 159 to learn how we can serve you.
Every aspect of a business is necessary because it makes the entire operation efficient. One tiny yet crucial part of running a company that’s often overlooked and taken for granted is auditing.
One of the reasons for this oversight is the belief that it’s only necessary for larger companies and organisations. However, all businesses, even small ones, should integrate this process to record information, monitor expenses properly, and, most importantly, assess the company’s overall success. If a company doesn’t take this vital step, it runs the risk of turning into a company focused on the bottom line, not its overall success.
So, what is this process, and why is it so important to have it in place? Read on below to learn more.
More about Auditing
Auditing a company is a necessary process that’s designed to assess the entire business. This lets people in the company know about the current state of the business and where it might head.
Auditing should be done often and carefully because it’s not limited to simply record-keeping but also covers all the aspects of the company. This makes it a valuable tool for running a business because it allows the business owner to identify where the strengths and weaknesses are.
It’s not enough to simply identify what’s going on; you also need to know why it’s happening. You can also understand how to change it to make the company more successful with proper auditing. It’s also important to keep in mind that there are different kinds of audits and knowing how to choose the right one for your company is vital.
Types of Auditing
The first step in creating a successful auditing process is understanding what audits exist. There are two types of audits, and these are:
Financial Audit
The most common form of audits is financial audit because they evaluate the company’s financial transactions and records. These are the most basic kinds of audits and the most popular with businesses.
This is because financial audits provide a complete picture of the company’s finances by looking at the various aspects of the business. This includes everything from how much it costs to run the business, profit is made, and how money is spent.
Operational Audit
Operational audits are another common type of audits and are designed to look at the day-to-day operations of both the company and its employees. This is beneficial because it allows the company owner to see how the business is performing and how the employees are running it.
This is why it’s crucial to use both an internal and an external auditor to provide honest feedback about specific areas that need improvement. This will allow the company to make necessary adjustments to the way it does things so that it can be more efficient and be a better business overall.
Auditing for Small Businesses
When auditing a small business, it’s essential to understand that you can use both types of audits and a few others to assess the company properly. The most important thing is to understand what type of audit is most effective for your business to make it more efficient.
The best way to do this is to evaluate what kind of business you have, recognise your needs, as well as the way you want to run it. With this information to work from, you can create a flawless auditing process that will help you improve the business and its employees.
How Small Businesses Can Benefit from Auditing
There are many ways that small businesses can benefit from auditing. These include:
- It helps you find ways to reduce costs without negatively impacting the business.
- It helps you to attract new customers.
- Helps identify risks.
- Allows you to spot growth opportunities.
- Gets you on track with strategic and long-term goals.
Above all, the most critical advantage of auditing is that it gives you the information you need to better your business. This can help you save money, attract new customers, and adapt to the changing marketplace.
Conclusion
When auditing your business, it’s essential to not only keep an eye on the immediate future. Instead, you need to also look at the long-range future of the company so that you can plan accordingly. This is especially important when adapting to the changing marketplace, so you shouldn’t take it lightly.
SMB Accounting provides quality services for an SMSF audit in Australia. Aside from that, we also do other types of audits to ensure that you’ll have an idea of how your business or your finances are doing to help you take the best course of action. Contact us today to learn more!