Lending and Mortgages

We can refer you to our third party partner who can help you to find the best Home loan, Investment Loan, Motor Vehicle Loan.

Incorporation & Registrations with ASIC and ATO

If you are planning to start a business, or you have already set up a business, and want us to asses if the current structure is best for you. We will do a thorough review and reorganisation (if required) of your business and investment entities. We can analyse your current structure and suggest the best plan of action for your business. We can set-up company or trust depending on your business.

We can also do ABN, TFN and GST registration.

Advice

We can provide advice on your business plan, intended market, and operational considerations.

Tax minimisation strategies

We can advise you on how to minimise your tax liability by restructuring your business. If you are high earning individual, we can help you too. Our staff at Mas Tax Accountants can advise you on the best course of action to achieve tax minimisation.

Asset protection advice

Most people don’t realise how they are exposing their personal assets. Sometimes things can go wrong and you can lose your assets you have worked so hard for. Our staff at Mas Tax Accountants can advise you on asset protection.

Cash flow Analysis and Management

Most businesses find it hard to manage their cash flow. Our staff at Mas Tax Accountants can analyse your cash flow and help you manage.

GST advice and compliance

If your business is earning more than $75000 per year you are required to register for GST. Since the Goods and services tax has been introduced, small business owners (including Sole traders and Partnerships) have to register for GST if they are earning more than $75000 per year. As small business accountants (Cranbourne) we come across lot of errors made by business owners on their Business Activity Statements; as most Sole Trader/Partnerships and small businesses try to prepare their BAS’s themselves.

Here are some of the most common mistakes we encounter regularly:

  • Claiming credit without proper invoice- Make sure you have the invoice to substantiate your claims.
  • Wrongly claiming GST credit for common expenses – For example not splitting the use for private and business use.
  • Claiming GST credit on GST free Items such as water, Council rates and other GST free government services.
  • Banks* do not charge their customers GST. Sometimes small business owners made mistake by wrongly claiming GST on bank fees.
  • Wrongly claiming a full GST credit for Superannuation and Salary to employees- These Items does not include GST.
  • Not reporting GST on government incentives or grants that include GST.

Errors are not uncommon and if you have made mistake, you can always go back and correct it. Good record keeping will help to avoid such mistakes. We can help you find good bookkeeping software.  Make sure you keep an eye on sundry expenses that are not directly related to your business. As small business accountants In Cranbourne, Hallam, Lyndhurst and Lynbrook and surrounds we are always here to help small businesses.

Company Secretarial

We provide secretarial service to our small business clients.

We will;

  • Set up Company and register for ABN, TFN and GST.
  • Act as an agent with ASIC.
  • Lodge documents to ASIC.
  • Facility of Registered office.
  • Maintain company register under current Corporations Act.