GM Tax

Preparation of End of Year Accounts / Financial Statements

End Of Year Accounts & Financial Statements

If you are a business that is operating in Australia you must prepare accounts / financial statements based on the financial year end which is generally 30 June.

It you are running your business as an unincorporated entity – such as a sole proprietor, a partnership, or as a family trust – these accounts will not need to be lodged with a third party regulator in Australia, but they will form the basis of the tax return which is submitted to the Australian Taxation Office.

The same applies for most businesses that are being operated through a Pty Limited.

Note: Overseas businesses that are operating in Australia through a branch with an ARBN will have an obligation to submit accounts with Australia’s company regulator – ASIC – each year.

If you are a business that is not incorporated in Australia that is operating in Australia through a branch – or you are planning to do so – please contact us to discuss your filing obligations in Australia.

If you are a business in Australia GM Tax can help with your end of year obligations, including:

  • Preparing the financial accounts of the business for discussion and approval
  • Preparing the tax return of the business for submission to the Australian Taxation Office
  • Advising on steps that can be taken to improve the after tax and financial position of the business along with guidance to its share holders and/or directors, management reporting during the year, etc
  • Business advice and guidance regarding asset purchases

In common with the other areas in which we advise, GM Tax has a policy of providing a fixed fee quote to businesses that are interested in engaging our services on a monthly or quarterly basis.

If you are interested GM Tax working with you and your business and would like a fee proposal on setting up your accounting records and/or ongoing book-keeping assistance please complete the online enquiry form on our home page or call a GM Tax office closest to you.