Active Australian entity accounting and tax obligations

Active Australian entity accounting and tax obligations in 2024

Since 2003, Healy Consultants Group assists multi-national Clients’ timely accurately and completely discharge their annual Australian legal, accounting and tax obligations. Our in-house Accounting and Tax Department prepared this web page to help you understand how we will help your Australian subsidiary:

No.	Tax resident company – active annual accounting & audit & tax obligations	US$
1.	Preparation of abridged financial statements (a 15-page annual report) including: Restructuring and reclassifying income and expenses to i) clearly explain transactions and ii) legally minimize corporation tax and country withholding tax; and Compliance with Australian Accounting Standards Board; and Crafting accurate and complete financial statement disclosures, to properly explain to the ATO the annual transactions including i) the corporation tax liability (if any) and ii) related party transactions and iii) foreign exchange gains and losses and iv) depreciation and finance costs and v) Intelectual Propherty expenses and vi) dividends and vii) BAS and payroll taxes such as superannuation and viii) Head Office expenses (if any) and ix) transfer pricing and x) so on;	1,540
2.	For our Client’s tax-resident entity and where possible, our in-house Accounting and Tax Department will help: Secure a legal exemption from multiple statutory obligations including i) independent statutory annual audit and ii) annual FATCA and CRS reports; and Evaluate the statutory obligation to submit i) quarterly Business Activity Statement (BAS) and ii) Superannuation and PAYG and GST reporting; Determine if the shareholders and directors meet their Australian statutory responsibilities including i) maintaining proper record-keeping standards are met and ii) if the company directors or shareholders have Australian personal income tax obligations and iii) there is withholding tax reporting requirements and iv) employer registration obligations;	850
3.	Legally minimize local and international corporation tax including withholding tax; Preparing an accurate and complete i) corporate tax return and ii) tax computation and iii) tailored cover letter to the the Government tax authority, explaining annual net profits and the corporation tax liability (if any); and Negotiating written inquiries and phone-calls from the Tax Authorities (post tax return submission), justifying annual net profits and losses;	1,250
	Estimate of total annual accounting & tax & audit fees for a tax resident active entity	3,640

Conclusion

These professional services and fees represent the average requirements of our multi-national Clients’. To agree a more tailored fee quotation for your specific Australian entity, please communicate with our in-house Accounting and Tax Department Staff; contact details follow: