Welcome to Austax Townsville

Austax Townsville is a locally owned and operated business. Our highly qualified team has vast experience in working with individuals from a range of occupations, as well as small businesses in all types of industries. Our professional and experienced consultants are dedicated to taking the worry and hassle out of complying with your tax obligations and getting the best tax result possible. Whilst we are one of the largest preparers of individual tax returns in North Queensland, we do so much more than just tax.

For our small business clients, we provide a full range of accounting and taxation services, including the analysis of your business performance against industry benchmarks to assist in identifying areas for improvement, advice on the most appropriate business structure, acquisition and sale valuations, tax planning and all compliance needs.

For individuals, we provide advice on tax planning and negative gearing, we are also a preferred advisor on salary packaging for Queensland Government employees, and we can provide financial advice.

Latest News

Record Keeping

Record keeping is one of the most overlooked, yet vital, business management activities. It is also frequently one of the biggest challenges for a small business.

Taking time to organise a good system can be tedious and time consuming, but it only takes one visit by a tax auditor or a refusal for a loan by a bank, to convince any business owner that an organised system would be useful.

Our qualified accountants and bookkeepers have many years experience in developing and maintaining good accounting records and systems. If you need help to understand your obligations or to set up a good record keeping system, please contact our office.

National Workplace Relations

You may be aware that from 1 January 2010, ALL businesses are now covered by the National Workplace Relations System.

One of the key changes to occur under the new system is the modernisation of awards. The Australian Industrial Relations Commission (AIRC) is currently consolidating all existing awards into industry or occupation-based categories.

The introduction of the new workplace relations system means changes to the way you operate your business. Our qualified advisers are available to help you understand your obligations. If you have any queries regarding the new National Workplace Relations System or any other accounting or taxation matters, please do not hesitate to contact our office.

Reportable Employer Super Contributions

For the 2009/2010 financial year and all future years, if you make super contributions under a salary sacrifice arrangement or extra super contributions to a super fund for an employee, you may need to report those contributions on your employee’s payment summary. This includes working owners of a business who pay themselves a salary.

The introduction of the Australian Government’s Reportable Employer Super Contribution scheme means change for you and the way you run your business. Our team of qualified accountants and experienced bookkeepers are available to help you understand your new obligations and changes to payment summaries and payroll systems.

Profit Improvement Strategies

Welcome to the start of a new decade and best wishes from all at Austax for a happy and successful 2010.A new year is always a good time to reflect on how your business is performing, and to look at new ideas and strategies you can implement to improve operations, revenue and profitability.

This is also a good time to plan for what you hope to accomplish in your business. That is your short, medium and long term goals. Every business should have a forward plan (both strategic and financial). But the reality is that very few businesses do.

This is where we can help. We can work with you to develop budgets and targets for your financial performance.

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Important Dates

28 Feb	Final date for lodgement and payment of Quarter 2 (October – December) activity statements.
31 March	Final date for lodging most individual income tax returns for Austax Townsville clients.
28 April	Final date for lodgement and payment of Quarter 3 (January – March) activity statements.
30 June	End of 2008-2009 Financial Year
1 July	Start of 2009-2010 Financial Year Start date for lodgement of annual income tax return for individual self-preparers.
14 July	Employers must issue PAYG withholding payment summaries to employees.
28 July	Final date for lodgement and payment of Quarter 4 (April – June) activity statements. Final date for employers to pay 9% super in respect of employees for Quarter 4.
14 Aug	Final date for employers to lodge the PAYG withholding payment summary annual report.
28 Oct	Final date for lodgement and payment of Quarter 1 (July – September) activity statements.
31 Oct	Due date for lodgement of annual income tax return for individual self-preparers.

Services We Provide

Individuals

We are Townsville’s largest single preparer of Income Tax Returns and provide:

Income Tax Return lodgement for people in all types of occupations.
Australian Defence Force specialists.
Rental Property advice – we prepare over 1,000 rental property tax returns.
Managed funds and Shares advice – we prepare tax returns for many hundreds of people with various types of investments.

Businesses

We provide traditional business services including:

Financial Statements & Tax Returns.
ABN & GST assistance.
Bookkeeping advice, including assistance with MYOB & QuickBooks.
Advice & assistance with buying/selling a small business.
Assistance with applications for finance.
Tax Planning.
Business restructuring including Partnerships, Companies & Trusts.

We also provide profit improvement services including:

Cash flow projections.
Budgeting.
Break even analysis.
Assistance with price setting.
Analysis of financial performance, including comparison with industry average.
Profit improvement strategies.

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