BASIC
COMPANY TAX RETURN
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Company is generating Revenue
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No Wages
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No Company Assets
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You supply:
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Profit & Loss Statement
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Balance Sheet Statement
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Prior Year Company Tax Return (if any)
PLUS
COMPANY TAX RETURN
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Company is generating Revenue
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Payroll
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Company Assets
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Depreciation Schedule
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You supply:
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Profit & Loss Statement
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Balance Sheet Statement
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Prior Year Company Tax Return
ENTERPRISE
COMPANY TAX RETURN and UNAUDITED FINANCIAL REPORT
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Company is generating Revenue
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Payroll
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Company Assets
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Depreciation Schedule
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Unaudited Financial Report
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Bank Loan
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Business Sales
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You supply:
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Profit & Loss Statement
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Balance Sheet Statement
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Prior Year Company Tax Return
What are the documents required for your Company Tax Return
Bank Statements for 12 months
Business Activity Statements 12 months
Profit & Loss Statement for period ended 30 June
Balance Sheet Statement as at 30 June
Prior Year Company Tax Return
Corporate Tax Act
The Corporations Act requires small proprietary companies to keep sufficient financial records but they are not required to produce actual preparation of the reports.
The Income Tax Assessment Act requires companies to prepare financial statements if they elect to use certain tax provisions that most companies will not utilise.
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Company Tax Rate
The small company tax rate has been reduced from 30% to 27.5% for income years starting on or after 1st July 2015. The lower tax rate also applies to small businesses which includes corporate unit trusts and public trading trusts with aggregate turnover of less than $10 million.
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