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Standard Company or Trust Income Tax Return
Are you looking for cheap company or trust tax returns? Taxopia is a professional but affordable solution to comply with annual business tax and accounting lodgements!
Taxopia is Australian owned and based in Melbourne. We use state of the art solutions to ensure your sensitive company or trust tax information are kept safe and confidential. We minimise other costs through streamlined work procedures allowing us to provide you with cheap company tax returns. Rest assured, at Taxopia cheap does not equate to low service or less qualified business tax accountants.
We can complete and lodge all of your annual business accounting and business tax return reporting, and even offer quarterly BAS solutions as well. Our extensive expertise allows us to provide more complex business tax advice for your company or trust if required.
Click here or scroll down the page to learn more about companies and trusts.
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Stefan Zvonar
22:00 11 Aug 21
Extremely knowledgeable and professional accountants. Highly recommended.
Damien Beer
07:24 09 Aug 21
Taxopia provided a diy solution for submitting my company tax return, which was well set out, easy to follow and priced... very competitively.read more
Tom Morley
05:45 23 Jul 21
Super responsive. Love it all being online and accessed through my cloud accounting software.
Jacqui Gibbons
02:18 17 May 21
Very easy to navigate, effective and quick communication, highly recommend.
Standard Company or Trust Income Tax Return
Welcome to Taxopia’s Standard Company or Trust Tax Returns ($800+ GST)
- Includes Tax Return Prepared & Lodged
- We act as your Tax Agent so you may be eligible for tax extensions
- Preparation of full Financial Statements (for bank use)
- Dedicated accountant tax adviser support regarding tax minimisation and tax position for the relevant tax year(s) that service is being provided for.
- Business size & record keeping criteria apply*
* Conditions. Please take note the standard pricing excludes the following items; however, these services can be provided for an additional cost.
- Excludes businesses with turnovers of more than $1 million per year.
- Excludes Capital Gains Tax events.
- Excludes share trading activities
- Excludes Companies who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)
- Excludes fixing bookkeeping errors
- Excludes fixing GST errors
- Excludes asset finance schedule reconciliations above 2. (i.e. up to 2 asset finance schedules are included)
- Excludes year-end adjustment entries to match your bookkeeping figures to the financial statements for all record-keeping software other than Xero
- Excludes Accountant Tax Adviser support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that service is being provided for.
If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.
Basic Tax Reporting Company/Trust Tax Return
- $400exc gst *
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- Includes Tax Return Prepared & Lodged
- We act as your Tax Agent so you may be eligible for tax extensions
- Business size & record keeping criteria apply
- *See conditions here
CURRENTLY SELECTED
Standard Tax Reporting Company/Trust Tax Return
- $800exc gst
-
- Includes Tax Return Prepared & Lodged
- Preparation of full Financial Statements (bank use)
- Max business turnover $1M/year
- Record keeping criteria apply
- Dedicated Accountant Tax Adviser support for that tax year
- *See conditions here
Premium Tax Reporting Company/Trust Tax Return
- $1200+exc gst
-
- Includes Tax Return Prepared & Lodged
- Preparation of full Financial Statements (bankuse)
- Turnover $1M or above per year
- Record keeping criteria apply
- Dedicated Accountant & Manager Support for that tax year
- *See conditions here
For our complete pricing list, please click here.
Companies
A company is a separate legal entity created for the purposes of business activity. There are two types of enterprise that are possible, and these are a proprietary company and a public company. A proprietary company has shareholders up to a maximum of 50 and is limited by its shares, it must have at least one director appointed. A public company must have at least 3 directors appointed and has no limit to how many shareholders own it. It can be listed or unlisted on the Australian Stock Exchange (ASX).
For both proprietary and public company shareholders, liability is limited to the nominal amount of their shares, so no individual’s assets are personally liable. The tax rate for a company is between 26% to 30%. This is lower than 45% (plus 2% Medicare levy) which is the highest tax rate for an individual in Australia, therefore, a company structure may be a more viable option for individuals who reach this bracket.
A company structure is more complex than other types of business structures and there is more involved in winding it down. A company has a unique Tax File Number as well as its registered Australian Business Number.
Trusts
A Trust is an obligation imposed on an individual or company to hold property or assets for the benefit of others. The holder of the trust is called the Trustee and the others are Beneficiaries. Trusts are not at a separate entity therefore liability lies with the Trustee. The Trustee is responsible for all business operations and there are yearly administrative tasks to complete. All transactions are undertaken by the Trustee and all are therefore a personal obligation.
A Trust is a more expensive business structure to set up, but there are benefits to working within this model. The Trustee can be employed by the Trust, and there can be employees. Income Tax doesn’t need to be paid for this structure as an entity but is passed on to beneficiaries however, GST may be applicable. Tax-free capital gains and tax incentives can be claimed by the beneficiaries should the structure be set up to allow this. A Trust requires an official Trust Deed to be completed by a qualified accountant or business lawyer.
There are two types of trusts and they are a Unit Trust and a Discretionary Trust. Unit Trusts are fixed, and Discretionary Trusts are not fixed. Beneficiaries of a Unit Trust are similar to shareholders in a company, beneficiaries can be referred to as Unit Holders. In this model, the beneficiaries hold the beneficial assets in the trust assets. A discretionary trust allows the Trustee to determine distributions for the Beneficiaries.
As with other types of Australian business structures, an annual tax return must be lodged and a tax file number must be obtained. If the trust is carrying on an enterprise or business activity in Australia, then an Australian Business Number registration must be obtained as well.