Small Business Accounting & Taxation Annual Compliance Pack – Sole Trader Employer GST Plus


Small Business Accounting & Taxation Annual Compliance Pack Sole Trader Employer GST Plus

Suitable for Sole Trader Small Businesses that are: registered for GST; only have to report business activity annually; only have a few employees with simple payment arrangements; and conduct business on a cash basis (invoicing and payment on same day, purchases paid c.o.d.). Perfect for architects, taxi drivers, bricklayers, carpenters, plumbers, electricians, mechanics, landscapers, and other similar small business operators. Compliance package fee of $149 per month (conditions apply).

Package includes:

  • Preparation of quarterly financial accounts for the business
  • Preparation and lodgment of a maximum of four Business Activity Statements
  • Preparation and lodgment of annual employee Individual PAYG Payment Summaries (up to a maximum of three employees)
  • Preparation and lodgment of annual employer PAYG Payment Summary Statement (for a maximum of three employees)
  • Preparation and lodgment of the end of year Sole Trader Business Income Schedule
  • Preparation, lodgment and assessment verification of the annual Australian Individual Income Tax Return
  • Preparation of Annual Financial Report (non-reporting entity Special Purpose Financial Report comprising balance sheet, profit or loss statement, summary of significant accounting policies and other explanatory notes)

Package prerequisites:

  • Taxpayer must be have and maintain quarterly GST reporting status
  • Business must transact on a cash basis (i.e. no requirement for tracking of debtors and creditors)
  • All transactions conducted via bank account, loan accounts, credit cards, etc. (no data entry of uncompiled source documents included in this package)

Initial Requirements:

  • Access to prior year information, including: latest lodged Tax Return and Associated Schedules, prior year Financial Reports & Statements, and other information as required
  • Taxpayer information, such as TFN, ABN, Trading Name, Banking Details, etc
  • Employee information, such as TFN, personal details, addresses, etc
  • Carry forward information such as Motor Vehicle Log Book data, Finance Amortisation Schedules, etc.

Ongoing Requirements:

  • Information re: classification of transactions required
  • Bank statements, Loan statements, Credit Card Statements, etc
  • Accurate payroll summaries, employee payslips, superannuation contribution information, other payroll related information
  • Documentation associated with Capital Acquisitions (e.g. purchase contracts, invoices)
  • Information about mixed transactions or changes in usage

Package Limitations:

  • Maximum of 5 accounts used by the business (i.e. bank accounts, loan accounts, credit cards, etc)
  • Excludes all additional compliance requirements such as preparation of finance amortisation schedules for new asset finance, foreign exchange transactions translation, differential treatment depreciating assets reports, business restructuring adjustments, Capital Gains Tax calculations upon sale of business, and other isolated events (subject to add-on charge at end of year at standard professional rates)
  • Excludes advice fees for additional out-of-scope services, such as business restructuring advice, etc (subject to add-on charge at standard professional rates as required)
  • Excludes amounts payable to the ATO, ASIC or other regulators, etc
  • Excludes preparation of Taxable Payments Annual Reports (available at additional cost)
  • Excludes preparation of payroll calculations and payslips (available at additional cost)
  • Excludes non-standard payroll arrangements (e.g. salary sacrifice arrangements, FBT packaging, etc)(available at additional cost)
  • Requires accurate payroll information (inaccurate payroll information with be subjected to additional charges for reconciliation and adjustment)
  • Minimum 12 month subscription applies
  • Maximum 1 years reporting (i.e. financial accounts, business schedule, annual tax return, etc) per 12 month subscription
  • Payment only by pre-approved automated recurring monthly billing (via PayPal) or 12 months non-refundable prepaid via BPAY
  • Subject to Small Business Accounting & Taxation Compliance Fixed Fee Package Engagement Terms & Conditions

How to order:

  • Step 1: Process recurring monthly payment authority via PayPal using the button below

    or contact us to arrange for payment by BPay

  • Step 2: Complete and Submit Registration Form
  • Step 3: Await contact from us regarding setup authority for electronic data feeds