I Merhi & Co has substantial experience providing business accounting and taxation services – from the preparation of financial accounts to the lodging of company tax returns. Our range of business accounting services include all your compliance obligations, such as Goods and Services Tax, Fringe Benefits Tax, and Withholding, Superannuation and Audit obligations.
Business Accounting Services Specialists.
With vast knowledge in business accounting services, we review your current accounting methods to ensure your accounting records are delivering accurate reports. Accurate records also ensure that on-going compliance costs are minimised. We educate you on the best accounting practice techniques, improving information flow and accurate reports for critical decision making.
Maximise Available Tax Benefits.
By working closely with you, the team at I Merhi & Co will get to know your business intimately, together with the challenges you face. Through our knowledge and planning we will identify any implications for your business and maximise any available tax benefits or available opportunities.
We Minimise Your Tax To Maximise Your Profit.
Contact I Merhi & Co and ask about our various business accounting services that will maximise your business’s profit!
TRUST TAX RETURN.
Trust is mostly an asset protection entity that also provides many tax benefits. It is basically a fiduciary/trust arrangement that allows a third entity to hold the assets for the beneficiary (ies). There are many different trust structures.
The parties to a trust include trustee, beneficiary, settler & appointer (if applicable). Various different trusts provide various benefits. A trust tax return will hence vary depend on the kind of trust formed and also on the extent and extensiveness of recordkeeping, compliance and bookkeeping required. Also, the business activity or investment activity determines the benefits associated with forming and running the activity via a trust structure.
Why do we need to file trust tax return?
If there is any income generated from the Trust’s activities, all the income is generally distributed among beneficiaries and hence the trustee is required to prepare and lodge tax returns to the Australian Taxation Office. So basically, the trustee is responsible for managing the trust’s tax affairs and registering the trust in the tax system, lodging trust tax returns. The beneficiaries are generally liable to pay the tax.
How can we help? What is our fee for a trust tax return?
We can help prepare the trust tax return, carry out the required bookkeeping complete relevant schedules and distributions in accordance with the deed or based on the minutes. It is difficult to provide a fixed fee for trust tax returns, however if you get in touch with us, we should be able to pretty much advise about our fee over the phone.
Self Managed Superannuation
How Can We Help.
Set up of your Self Managed Super Fund
Set up of your TFN and ABN registration
Assist with your choice of Trustee
Accounting & tax compliance
Handle you administration obligations, taxation, reporting and audit requirements
Answer all technical queries
Ensure your fund is ATO compliant
Advice on pensions and tax implications
Assist with borrowing within super funds
Minimise your tax to maximise your profit.
Many of our clients have minimised their tax and secured their retirement future by investing in their own Self Managed Super Funds (SMSF).
Superannuation is essentially a retirement savings vehicle that also supports the retirement dreams and quality of life of all future retirees. The impact of a poorly performing fund can have a significant effect – often leading to an uncertain financial future.
So talk to I Merhi & Co now about securing your future with a SMSF.
The ATO and APRA (the two primary regulators in the industry) have placed a regulatory burden on SMSFs due to their long list of requirements. This has deterred many from enjoying the vast advantages to be gained from SMSFs, notably, control of their own money and retirement destiny.
Our Superannuation specialists remove the worry of this regulatory burden from our clients, allowing them the options to make more informed choices.
Small business, big potential.
The Australian Taxation Office (ATO) differentiates between Individuals and Non-Individuals. Individual is a term used to distinguish natural individual persons.
As a Sole Trader is a natural person, sole traders are taxed as other normal individuals, pay income tax at individual tax rates and lodge an Individual Tax Return.
We understand 2020 has been a tough year for us Aussies, from bush fire to the unpredictable COVID-19, but lodging tax return need not be. Keep tax time stress-free by allowing a good personal tax accountant to maximize your tax return. We are experienced accountants and tax agents and our fees are deductible.
Sole trader return is a business tax return that should be prepared by experienced business accountants. we try our best to achieve the best results for you.
We give you specific and detailed advice on how to keep your business record
We provide advice when you should change your business structure from a sole trader to a company or trust
We help you claim all the legitimate expenses, such us concessional contributions, home office and motor vehicle expenses etc
We will minimize your capital gain tax when you sell you sole trader business
Business names & Partnerships
Why do I need a Partnership Agreement?
In a partnership business structure, it’s important that you and your partners formalise the terms of the partnership in writing. A Partnership Agreement covers important matters like how partnership decisions are made, how disputes are handled and what happens when a partner leaves.
Partnership tax returns should show assessable income with allowable expenses and deductions to compute net income/loss for the financial year. Our team will help you recognize your business expenses which can be deducted against partnership income.
Individual Tax Returns
Get the most out of your refund.
Super fast tax refund without any compromise on accuracy and compliance at any stage. Our experienced and qualified accountants will ensure you get the maximum tax refund to which you are entitled. They will take the time to understand your occupation and situation in order to claim all possible deductions including travel expenses, uniforms, laundry, self-education and laptops, amongst many others. We will also ensure all the relevant tax offsets and government rebates are applied to your return.
The I Merhi & Co Philosophy.
Our Philosophy is to ensure a complete understanding of our clients, their needs and their business. We have partnered with an extensive range of highly qualified and skilled associates. These associates specialise in the below.
Wealth management companies
We want to streamline your experience. If your needs are beyond accounting services we can refer you to a number of close associates that we are partnered with.