small business Taxation

Your small Business taxation Specialist

As a small business owner, you know that taxation can be a confusing and time-consuming process. Every year there are changing tax regulations to figure out, piles of paperwork to complete, and deadlines to meet.

It takes time away from the things that really matter, like growing your business, networking and building relationships with customers, or simply taking some much-needed rest.

Small business taxation doesn’t have to be such a headache. With our comprehensive range of services, we make it easier than ever for you to stay on top of your taxes while leaving you more time for the important things in life.

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how we help with you tax Preparation

At Ingrams Accounting, we understand that as a small business in Australia, it is mandatory for you to file a business tax return for each financial year that you operate.
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do you need help with your business tax?

Our highly skilled team of accountants is dedicated to providing you with professional assistance in preparing and submitting your business tax return to the Australian Taxation Office (ATO) promptl

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taxation is your return late

What to do when you tax return is late.

If, by any chance, your company tax returns are already overdue, there’s no need to worry! We offer an expedited service option, subject to an urgency fee, which allows us to deliver your tax return on time.

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taxation tax experts

Expert small business tax advice.

In addition to handling the necessary paperwork, we offer expert advice to help you minimize your company tax obligations. Our goal is to ensure that you have a clear and comprehensive understanding of your business’s financial position..

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Book a free consultation with one of our small business Taxation accountants today

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Our Small Business Accounting Services

At Ingrams Accounting, our small business accountant specialises in comprehensive tax and accounting services for professionals like tradies, doctors, and traders. Our experienced team helps navigate complex tax laws, providing tailored solutions to keep you on track financially.

From accounting and bookkeeping to audits and business setup, we address the unique challenges faced by professional service providers. We also understand the importance of crypto accounting and offer assistance in filing taxes for cryptocurrency transactions. With our reliable support, you can focus on growing your business and delivering exceptional service while we handle your financial needs. Trust Ingrams Accounting your small business accountant to keep you on top of your financial game.

small business accountant

Taxation

At Ingrams accounting, we understand that tax and accounting can be overwhelming for tradies, doctors, and traders alike.

Our team of experts can help you navigate the complexities of tax laws and provide comprehensive accounting solutions tailored to your unique needs. Let us help you stay on top of your financial game.

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Accounting

Ingrams Accounting offers comprehensive accounting services tailored specifically for professional service providers.

Our experienced team understands the unique financial challenges faced by businesses in this sector. From bookkeeping and tax preparation to financial analysis and strategic planning, we are dedicated to helping you achieve your financial goals.

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Bookkeeping & Payroll

Ingrams Accounting provides reliable bookkeeping and payroll management services for transport companies and healthcare professionals.

Our team of experienced professionals can help you streamline your financial operations, allowing you to focus on what matters most – growing your business and providing top-notch care to your patients. Let us handle your financial needs.

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Trust Audits

Ingrams Accounting offers auditing services for compliance audits for lawyers and real estate agents.

Our experienced auditors can help you maintain compliance with relevant regulations and provide accurate financial statements for your stakeholders. Let us help you ensure the integrity of your financial records and maintain the trust of your clients.

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waterloo

Business Setup

Ingrams Accounting provides expert guidance for startups and small businesses in setting up their business structures.

From registering for GST, PAYE, ABN, and ACN to advising on the most suitable business structure, our team can help you establish a strong foundation for your business. Let us help you start on the right foot.

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crypto accounting

Crypto Accounting

At Ingrams Accounting, we understand why crypto accounting is important. We help take away the pain of filing taxes if you buy, sell, or invest in Bitcoin, Ethereum, Dogecoin, etc. With all the excitement surrounding cryptocurrencies in 2022, the ATO is cracking down on crypto and NFT investors this year, and the penalties can be severe if you don’t disclose this income.

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Female tradie taxation

Taxion

At Ingrams Accounting, we understand that tax and accounting can be overwhelming for tradies, doctors, and traders alike.

accounting

Accounting

Ingrams Accounting offers comprehensive accounting services tailored specifically for professional service providers.

cafe owner bookkeeping

Bookkeeping & Payroll

Ingrams Accounting provides reliable bookkeeping and payroll management services for transport companies and healthcare professionals.

lawyer audits

Trust Audits

Ingrams Accounting offers auditing services for compliance audits for lawyers and real estate agents.

small business owners

Business Setup

Ingrams Accounting provides expert guidance for startups and small businesses in setting up their business structures.

crypto accounting

Crypto Accounting

COMING SOON

Female tradie taxation

Taxation

At Ingrams Accounting, we understand that tax and accounting can be overwhelming for tradies, doctors, and traders alike. Our experienced auditors can help you maintain compliance with relevant regulations and provide accurate financial statements for your stakeholders. Let us help you ensure the integrity of your financial records and maintain the trust of your clients.

accounting

Accounting

Ingrams Accounting offers comprehensive accounting services tailored specifically for professional service providers. From registering for GST, PAYE, ABN, and ACN to advising on the most suitable business structure, our team can help you establish a strong foundation for your business. Let us help you start on the right foot

cafe owner bookkeeping

Bookkeeping & Payroll

Ingrams Accounting provides reliable bookkeeping and payroll management services for transport companies and healthcare professionals. Our team of experienced professionals can help you streamline your financial operations, allowing you to focus on what matters most – growing your business and providing top-notch care to your patients. Let us handle your financial needs.

lawyer audits

Trust audits

Ingrams Accounting offers auditing services for compliance audits for lawyers and real estate agents. Our experienced auditors can help you maintain compliance with relevant regulations and provide accurate financial statements for your stakeholders. Let us help you ensure the integrity of your financial records and maintain the trust of your clients.

small business owners

Business Setup

Ingrams Accounting provides expert guidance for startups and small businesses in setting up their business structures. From registering for GST, PAYE, ABN, and ACN to advising on the most suitable business structure, our team can help you establish a strong foundation for your business. Let us help you start on the right foot.

Our Loyal business customers

Check out the Melbourne businesses that trust us as their small business accountant, while they get on with business and life.

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Testimonials

Read all about what our long term clients say about the great taxation services at Ingrams Accounting group

Henry Louey
Melbourne
I have been a client/customer/friend of Ingrams Accounting Group since i chanced walking pass their pop-up shopfront in Carlisle St East St Kilda and popped in to submit my tax return.
Fast forward 32 years, 5 change in jobs, opening up an ACN and 31 tax returns later i cannot speak highly enough of the team and Ingrams.
Louise Dingley
South Yarra
My annual tax return is not an issue, as Ingrams make it easy and follow up with anything I may or may not have included. My return is prompt and the service is outstanding. Chris and Cathy are very professional and extremely reliable.
Hawa Evans
Melbourne
Amazing professional services. Been dealing with Chris and team for quite some time now and really appreciate the consultation support provided by the team.

How can we help you tax it easy?

Get your taxation done with a smile.
Book a free 15 minute chat with our accountants South Yarra to discuss your circumstances.

03 9826 6000

[email protected]

Suite 2026, Level 19/644 Chapel St
South Yarra, Victoria 3141

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Small Business Tax Accountants – Frequently Asked Questions

We are here to help answer all your taxation questions and provide you with the information you need to make an informed decision.

As a small business owner in Australia, tax accounting can be a daunting task that eats up your valuable time and resources. That’s where a small business tax accountant can help. Here are some ways that a tax accountant can assist your business:

  1. Ensuring compliance: A tax accountant can help you comply with Australian tax laws, ensuring that you meet your obligations and avoid penalties.
  2. Maximizing deductions: A tax accountant can identify deductible expenses that you may have overlooked, helping you minimize your tax liability and maximize your profits.
  3. Providing advice: A tax accountant can provide expert advice on tax-related matters such as structuring your business, planning for retirement, and minimizing taxes on the sale of assets.
  4. Saving time: By taking care of your tax obligations, a tax accountant frees up your time to focus on running your business and pursuing your goals.

Taxation is an integral part of any country’s economy. In Australia, the tax system can be quite complex but understanding it is essential. The Australian Taxation Office (ATO) is the primary agency responsible for collecting and administering taxes. They provide a range of services and information to assist taxpayers in understanding their tax obligations.

Australian taxation is based on a progressive system where those who earn more pay a higher proportion of their income in tax. This system guarantees that everyone contributes to society based on their ability to pay. Understanding the intricacies of Australia’s tax system can be challenging, but it is worthwhile as it enables individuals and businesses to make informed decisions about their finances, which can ultimately benefit the entire country’s economy.

Australian income tax rates for 2023–24 and 2022–23 (residents)

Income thresholdsRateTax payable on this income
$0 – $18,2000%Nil
$18,201 – $45,00019%19c for each $1 over $18,200
$45,001 – $120,00032.5%$5,092 plus 32.5c for each $1 over $45,000
$120,001 – $180,00037%$29,467 plus 37c for each $1 over $120,000

Over $180,001 tax payable on income will be $51,667 plus 45c for each $1 over $180,00

The above rates do not include the Medicare Levy of 2%

Example of income tax applied to earnings

Annual salary$60,000
Marginal tax rate32.5%
Annual tax paid$11,067
Annual take home pay$48,933

The amount of tax paid in Australia is influenced by various factors. The Australian tax system is designed to fund government programs and services, such as healthcare, education, infrastructure, defense, and social welfare. The government relies on tax revenue to finance these initiatives and maintain the functioning of the country.

Several reasons contribute to the perception of high taxation in Australia. Firstly, Australia has a progressive income tax system, which means that higher-income individuals pay a larger proportion of their income in taxes. This progressive structure aims to distribute the tax burden more equitably based on an individual’s ability to pay.

Secondly, Australia provides a range of public services and benefits, including universal healthcare (Medicare), social security programs, and education subsidies. These services require substantial funding, which is partly supported by tax revenue.

Furthermore, Australia has implemented a Goods and Services Tax (GST) on most goods and services. The GST is a value-added tax levied on consumption, and it contributes to the overall tax revenue.

It’s also worth noting that Australia has a robust social welfare system, with various income support programs, pensions, and other forms of assistance. These programs, while vital for providing a safety net, require significant funding, which is partly derived from taxation.

Lastly, tax rates and policies can be influenced by government decisions and economic circumstances. Tax rates and thresholds may change over time to respond to economic conditions, government priorities, and budgetary requirements.

Overall, the tax system in Australia is designed to balance the need for revenue generation with the provision of essential services and social welfare programs. The perceived level of taxation can vary depending on personal circumstances and individual perspectives.