Countdown to the EOFY –Tax Returns

EOFY Tax Returns

With the end of the financial year right around the corner, every small business is in a rush to complete essential tasks like bookkeeping, tax returns, BAS returns and planning for the new financial year ahead. With Australia introducing JobKeeper to help small businesses sustain their workflow while paying their employees, taxes, and bookkeeping is not a layman’s game anymore.

Hiring professional services through accounting firms can be of great help in juggling JobKeeper declarations along with normal EOFY workflow for small businesses. An accounting firm would make sure all your essential tasks are completed in time for the EOFY.

Here are the top three reasons why small businesses should consider hiring services from a tax accountant in Melbourne.

Getting Your Paperwork Up To Date

The best way to streamline your EOFY process is to get your paperwork up to date. A small business accountant Melbourne would help you in doing so by collecting your financial records in one place and checking them for any tax deductions and concessions you can claim.

As it is necessary to have legitimate records to prove the expenses you claim as business deductions, your accountant will make sure records concerning activity statements and tax returns are available.

Online Accounting Tools

Fortunately, online accounting tools have simplified the times of EOFY. Your accountant would introduce you to reliable and efficient online accounting tools to help capture all your business expenses in one place.

Online banking is a great step for a small business as you will gain access to tools for everyday business activity. These tools have information gathered for tax returns automatically by the EOFY, and your small business accountant Melbourne would access them to complete the process in no time.

Covid19 Relief and JobKeeper

The year 2020 brought many changes in our lifestyles and our routine tasks. Hence, even accounting and the way people know how to do their taxes has changed. In such circumstances, it is better to have a professional tax accountant helping you understand these without putting your small business on the line.

For instance, the JobKeeper payment option and other COVID-19 relief options may impact many small businesses’ EOFY tax situation. An accounting specialist would remember to report it rightfully.

Contact Opulent Accountants today to get your tax returns sorted in time for the EOFY!

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Moumita Ghosh
Moumita Ghosh
2020-11-18
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We've been meeting Dayan for years now and he is great with his advice and is very knowledgeable and pragmatic. We recently used his services to get the home loan for our house and he and his team went above and beyond to get us the best possible deal. Ishara in his team was super communicative and responsive in following through and made the process very easy for us. Highly recommend them!
Cara Neela
Cara Neela
2020-10-24
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Dayan and Hasi are wonderful, wouldn’t hesitate to recommend them! They went through all with a fine tooth comb to ensure all was correct. Thanks to you both and the Opulent team!
Jason Barry
Jason Barry
2020-09-29
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I was looking for a different accountant and was recommended to Opulent Accountants. I have been blown away with there service. I wish I moved accountant sooner. Platinum Plumbing Enterprises P/L
Afshin Koohestani
Afshin Koohestani
2020-09-10
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Uditha Illeperuma
Uditha Illeperuma
2020-09-08
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Opulent Finance gave professional advice for my unique home loan requirement. They respond quickly with the proper information. The process was smooth and I felt comfortable to deal with the team. The team is friendly and professional to deal with. Highly recommended for any one looking for finance.
Dinesh Fernando
Dinesh Fernando
2020-09-03
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Very happy with the service provided in getting my tax returns done. Mr. Dayan is very helpful and professional and has extensive knowledge in his field of expertise. Highly recommend if you are looking for a hassle free and prompt service.
Ronald Turner
Ronald Turner
2020-07-16
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Opulent were absolutely fantastic to deal with, they are competitively priced and incredibly proactive and friendly. For me I have been much better off using their fantastic services as opposed to doing tax returns myself. Sum was amazing, incredibly knowledgable and super friendlyI'll certainly be back with Opulent next year
Milinda Wickramasinghe
Milinda Wickramasinghe
2020-07-05
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Opulent team has been fantastic and it has been truly a pleasure dealing with the team for more than 10 years. Dayan and Ishara have gone above and beyond to assist and communicated with me even when I was overseas. Excellent service has being provided in a professional and timely manner. I would highly recommend the team.
Chami Ranaweera
Chami Ranaweera
2020-04-28
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I have been working with Dayan last 9 years. All of my loans, refinance and tax are done through Opulent.Dayan and his team including Ishara are very helpful and easy to deal.
Edmund Lobo
Edmund Lobo
2019-12-02
Verified review
We were new entrants to the cattle farming scene. All the rules and regulations surrounding primary production can be very confusing. The team at Opulent Accountants walked us through all the steps, set up the necessary ABNs and Company / Trust accounts, filed the related pending BAS and Tax returns, and is currently keeping us up-to-date with all ATO related transactions. We recommend them highly to all.