Taxation

Consult for advice on Tax Returns in Australia for Strategic Insight and Compliance

Filing your tax return is a legal obligation, but for the wise, it is also a legitimate opportunity to protect your income. Our team of Tax consultants in Australia can help you to manage risk and make strategic financial decisions. At Ray Accounting Group, we offer highly specialized tax return preparation services with our comprehensive understanding of Australian taxation legislation, industry-specific deductions, and small business concessions. We have helped numerous individuals, companies, trusts, and SMSFs in Australia to stay compliant with Australian Taxation Office (ATO) frameworks with confidence.

Understanding Australian Tax Returns

A tax return is a formal declaration submitted by individuals and commercial entities of all kinds to the Australian Taxation Office (ATO) that discloses your total income, allowable deductions, offsets, and tax paid throughout the financial year. It determines whether you are entitled to a refund or owe additional tax. From a functional perspective, a tax return is much more than an annual requirement. It is a foundational element of your financial transparency which is used by and informs your lenders, government bodies, and auditors to evaluate the financial prudence and compliance practiced by you or your firm. Tax returns are the base for identifying your eligibility for benefits, and financial credibility.

Why hire professional Tax Agents in Australia

  • ● Get fully compliant with the Australian Income Tax Assessment Acts 1936 & 1997
  • ● Stay Application-Ready for relevant tax offsets and deductions
  • ● Avoid common audit triggers
  • ● Timely submission to avoid late lodgment penalties under Taxation Administration Act 1953

What are Professional Tax Return Services?

Individual Tax Returns (Employee, Sole Trader & Investment Income Filers)

Whether you are a PAYG employee, a contractor, or managing multiple income streams (including rental, dividends, or crypto assets), we ensure your return is:

  • ➢ Accurately reconciled with ATO pre-fill data
  • ➢ Optimized for work-related deductions, interest offsets, and private health insurance rebates
  • ➢ Lodged with supporting schedules where needed (e.g. rental property expenses, capital gains)

We also assist with:

  • ➢ Tax returns for expats, temporary residents, and foreign income reporting
  • ➢ Amendments for prior-year returns
  • ➢ Disputes involving ATO notices or assessments

Company Tax Returns (For Pty Ltd Entities and Trading Companies)

Corporate compliance in Australia is governed by a legal matrix of income tax laws, Division 7A considerations, capitalization rules, and director responsibilities under the Corporations Act 2001. Tax Return Experts at Ray Accounting Group can help you prepare comprehensive tax returns including but not limited to:

  • ➢ Income reconciliation with accounting records
  • ➢ Fringe Benefits Tax (FBT) lodgments and salary packaging impact
  • ➢ Small business entity concessions (SBE rules)
  • ➢ Loss carry-forward provisions
  • ➢ R&D tax incentive advice and eligibility reviews

We also work closely with business owners to plan quarterly PAYG installments and effectively manage variables like time differences that may affect taxable income.

Self-Managed Super Fund (SMSF) Tax Returns and Regulatory Reporting

SMSFs in Australia operate under a strict regulatory environment and there are stringent guidelines set by both the ATO and ASIC that SMSF have to comply with. Our SMSF tax services include:

  • ➢ Preparation of the Annual Return (SAR) including Section H, assets & liabilities, and member balances
  • ➢ Lodgment of trustee declarations and independent audit coordination
  • ➢ Verification of contribution caps, pension drawdowns, and asset valuation compliance under SIS regulations

We act as advisors to SMSF trustees to ensure that all actions taken are aligned with Superannuation Industry (Supervision) Act 1993 (SIS Act) obligations.

Trust Tax Returns (Family Trusts, Discretionary Trusts, and Unit Trusts)

Trust structures are widely used in Australia for asset protection, wealth transfer, and business income distribution. However, they come with specific reporting complexities.
We assist with:

  • ➢ Trust income allocation in accordance with the trust deed
  • ➢ Distribution statements and resolutions prior to 30 June
  • ➢ Streaming of capital gains and franked distributions
  • ➢ Preparation of trustee and beneficiary statements for taxation reporting

Our approach ensures transparency and compliance while maximizing tax efficiency across the trust structure.

Professional Tax Return Services

Strategic Business Planning and Tax Forecasting

Ray Accounting Group supports business clients in building integrated financial plans where tax is a forecasted and controlled variable, and you can avoid any unfavorable surprises. We prepare:

  • ➢ Provisional tax estimates for the year ahead
  • ➢ Income distribution modelling for partnerships and trusts
  • ➢ Tax structuring recommendations for new business setups or business restructuring.
  • ➢ Industry-specific benchmarking and small business CGT concession eligibility mapping
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