Tax Services

Taxation Services

At MGH Advisory we offer a full range of taxation services. Our proactive approach ensures we deliver sound advice and efficient service.

Taxation can be a major cost to your business. We will work with your business to legally minimise tax and help you achieve your key financial objectives. We provide a complete service of assistance and advice in each of these areas:

  • Preparation and electronic lodgement of Business and Individual tax returns
  • Preparing activity statements and advice on tax payments
  • GST/FBT obligations
  • Advice on, and implementation of, tax effective trust structures for asset protection and tax minimisation
  • Managing any ATO audits or disputes

Business & Individual Tax Advice

 Australia’s taxation regime is as complicated and comprehensive as any in the world. It is therefore vital that you have access to accountants who have the technical knowledge and practical expertise to help you make critical business decisions.

The services provided by the MGH Advisory go beyond compliance matters to provide specialist, high-level advice on complex areas of taxation law. The team's expertise is in researching and understanding complicated taxation matters with the aim to deliver tax strategies for clients that minimise the tax burden and meet business or family objectives. 

We provide advice on the more intricate areas of:

  • Income taxes
  • Goods and Services Tax
  • Capital Gains Tax (CGT)
  • Employment taxes
  • Other indirect taxes including land tax and stamp duty.

In addition we offer specialist advice on company, trust and partnership structures.

MGH Advisory aims to provide specialist advice that is technically accurate, meets the legislative and regulatory requirements and is cost effective. 

 

Tax Planning

By reviewing your tax position prior to the end of the financial year, we can advise you of the best way to legally reduce your taxes and keep money in your bank account. We can provide you with an accurate picture of your profit and tax position for the financial year so you can account for them in your plans. Many opportunities to reduce tax are only available if action is taken prior to the end of the financial year.

GST Advice

The GST system is a complex and confusing one. Consequently MGH Advisory ensures our team remains up to date with any changes, enabling us to offer you accurate advice.

Every transaction now has an associated GST issue. We are experienced in these issues and can offer expert advice on the GST implications for your business. The GST-related services we offer include, but are not limited to: 

  • GST Implications on the purchase/sale of a business and/or investment interest

  • GST advice on taxable supplies and acquisitions
  • Advice on registering for GST
  • Filing and adjusting GST returns
  • ATO audit assistance
  • GST on fringe benefits and entertainment

BAS Preparation

The GST system is a complex and confusing one. For this reason MGH Advisory ensures their staff are continuously up to date on the changes, and able to offer you accurate advice. Every transaction now brings with it a GST issue. We have experience with these issues and are able to offer expert advice on the implications of GST for your business. The GST related services we offer include, but are not limited to:

  • Advice on registering for GST

  • Filing and adjusting GST returns

  • ATO Audit assistance

Capital Gains Tax Advice

Capital Gains Tax (CGT) is a complex area in the Australian taxation system. CGT makes the profit from the sale of certain assets taxable as income. With a myriad of rules covering asset acquisition and disposal, valuation, and complex provisions on CGT exemptions, capital gains tax is an area that has profound implications for all businesses and investors.

We can advise you on how CGT affects your business, investment and retirement plans. As part of our extensive taxation advisory and planning services, we will help structure your financial affairs to reduce your exposure to many of the unexpected pitfalls that CGT can present.

We ensure that our clients are fully informed of the very latest CGT developments affecting both their business and personal financial affairs. We provide expert services in all areas, including;

  • Appropriate entity structures to hold assets

  • Business rollover provisions

  • Effective tax planning strategies for businesses and individuals

Fringe Benefits Tax Advice

Is your organisation using fringe benefits to their full potential?

Many opportunities exist to significantly increase employee take home pay or benefits through the effective use salary packaging and FBT rules.

We can help you legitimately leverage and maximise FBT concessions, whilst maintaining simple and compliant systems. We offer assistance with all fringe benefits tax issues including:

  •  review and assessment of FBT systems

  • review and lodgement of annual FBT returns

  • consulting advice on specific FBT issues – identifying opportunities, alternatives and providing tax minimisation strategies

  • salary packaging advice:

    • review current arrangements & advise options

    • support for payroll and HR staff, selection of associated service providers, etc

    • assistance with new systems, policies & manuals

    • informative and easy to follow presentations to employees to explain the system and handle queries

We can develop a unique FBT planning strategy for you, with our in depth and up-to-the-minute knowledge of the legislation. We encourage you take advantage of our expertise in what can otherwise be a confusing and cumbersome area for employers.

 

 

 

 

 

 

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