As of 1 October 2015 Online Accounting and Taxation Solutions has changed name to Affinitas Accounting, you have now been redirected to the new page.

Planning Season Upon Us – Newsletter March 2016

Planning Season Upon Us

Easter and the end of March is looming, and that means we enter the final quarter of the 2016 income tax year. This is the time when businesses and investors should be reviewing how things are travelling for the year and considering any strategies to optimise performance and/or reduce tax.

It also is the time when many accountants take some leave, before tax season hits again from 1 July. So get in early for a pre-30 June appointment with your favourite tax and financial adviser.

At these business reviews, not only will we be reviewing the financial numbers, but also completing a business checklist to ensure that the business is healthy and protected in a variety of areas – including insurances, shareholders agreements, updated employment and other legal contracts to name just a few areas. We see this as part of properly ensuring we are acting in your best interests as your tax and business advisers.

Referrals a Great Compliment.

The greatest compliment that you can give a professional services business is a willingness to refer us new business. New systems and efficiencies introduced have allowed us extra capacity to both value add to our existing clients and also take on new clients.

So if you hear family, friends or business colleagues saying that they are not happy with the accounting services they are (or possibly are not) receiving, then we’d be only too happy to chat with them to see if our practice and it’s range of services and pricing options suits them.

FBT Returns Due

The FBT year ends on March 31, so those businesses who need to submit returns will be contacted for their annual information in April. FBT returns are due for lodgement by 21 May.

New Laws Open Up Restructuring Possibilities

As many businesses grow they often realise, for a variety of reasons, that they need a new tax structure. Sometimes those who start as a sole trader or partnership grow to the extent that they need to consider either a trust or company structure.

Many businesses in trusts need to change to a company structure, especially when they consider selling or taking on a partner outside the family group.

New tax laws have been passed that will make restructuring easier. These laws include Capital Gains Tax rollover relief and potential to reset levels of goodwill to the benefit of small business owners.

And while these laws definitely do make restructuring easier, it is still a complex process that may involve paying for valuations of goodwill and other assets.

PAYG Variations

Investors and business people who submit PAYG Variation forms each year will need to provide figures again by mid May. We will be in contact with those who have previously submitted forms to analyse whether their situation is similar or has changed.

First time investors, particularly those with multiple rental properties, may wish to consider lodging a PAYG variation to boost their cashflow as the year progresses rather than wait for a large lump sum tax refund.

The Old Bloke’s Getting Hitched

Those who wish to catch up with Brad between now and 30 June, he will be away from 11 May to 11 June this year. He and fiancé Suzanne are getting married in May and he’s been allowed to go an a honeymoon afterwards!!

From the team at Affinitas Accounting

 

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  • I’ve been dealing with Affinitas Accounting for about 3 years now and I have found them to be nothing but friendly and helpful. I’m a Bookkeeper and on occasions have been stuck with various accounting problems. Affinitas have not hesitated to spend time with me until the problem was solved. Any queries or questions have always been answered in a timely manner.

  • I highly recommend coming here for all your tax needs! They explain everything you need to know about tax thoroughly and go about there jobs professionally, always leave here with a cheery smile and satisfaction.

  • Affinitas Accounting has been so helpful with the restructure of my business. They made it an easy process and explained it in a language that was easy to understand. My ongoing tax and gst is all prepared by them, they’ve really taken the stress out of it all to let me focus on growing my business.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Rebecca & Russel Johns

    Since moving to Affinitas Accounting we have a clear understanding of companies and trusts. We have no hesitation in saying the team here will meet and then exceed your expectations! I never feel like i am annoying them. Thank you Team Affinitas

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Paul Maclaine

    Affinitas has looked after all our financial needs for our business and personal tax returns. We have been with our accountant for 10+ years. I have no hesitation in recommending Affinitas to anyone looking for an accountant or any financial advise. We have always found and received friendly professional and practical advise.

  • For the past 6 years, Tammy has been lodging our tax. The team always spend the time to explain how things will affect us and always manage to maximise our returns. We highly recommend the team to anyone we speak to and have had friends move to do their future tax with the team at affinities accounting. Couldn’t recommend them highly enough.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Kirsty Whittaker

    I’ve been using Deb from Affinitas Accounting now for many years and have found her to be excellent in looking after my taxation needs. I’m in Tasmania, Affinitas Accounting is in Queensland and distance is no barrier. She understands my business needs, everything is done in a friendly and efficient manner and I happily recommend to anyone looking for ‘down to earth’ taxation advice.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    David Williams

    We’ve been with Affinitas Accounting for over 5yrs when they were known as Online Accounting & Taxation Solutions. From our initial phone call with Brad looking for an accounting team that would meet our expectations as well as provide efficient service, we’ve been really impressed with the team’s professionalism, knowledge & expertise.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Allyson O'Connell

    Debbie is our accountant and has been for seven years. She is thorough and always does what she can to honestly get us the best return but always adheres to the ATO guidelines. We recommend her to our friends and wouldn’t take our business to anyone else. Thanks Debbie.

  • We have only been with Affinitas Accounting for the past 12 months but in this time they have by far exceeded our expectations of an accountant and far surpassed previously used accountants.
    Affinitas are not just about annual returns, BAS statements etc, they take the time to get to know you enabling them to provide advise to help you work toward personal & business goals.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Mark D’Andrea

    Can’t fault Affinitas.

    Have been coming here for years (when it was then called online tax). Deb has been happy to always go the extra mile and doesn’t mind dispensing helpful advice throughout the year.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Deagon Fixing

    I have been a client of Affinitas Accounting (previously Online) for the past 8 years. It is like a one stop shopping experience, all my needs were addressed in the one office.

    Thanks Affinitas you for all your assistance and I would strongly recommend them to anyone to use

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