At Chrome Accountants
we provide you with many business services
A sole trader is a person who is running, managing and controlling his/her own business. As a sole trader, you will need an ABN and you are legally responsible for all features of your business including any profits or losses. Other things that you need to take into consideration include GST, super contributions and quarterly PAYG installments.
As a partnership, the profits will be equally divided between the partners. Partners will be liable for the business debts and liabilities. Under a partnership, you will need to submit a tax return for both partnership and individual return for the partners.
At Chrome Accountants, we are ready to set your partnership legally with the ATO and ASIC as well as GST recognition when required, lodging BAS, preparing partnership and individual returns and so forth.
Company Tax Returns
Chrome Accountants are fully trained in the area of business and corporate tax. Being a member of the Tax Institute, we have all the resources to prepare efficient returns.
Chrome Accountants can assist you in getting a Trust that will distribute your income, manage and minimize taxes and create structures to maximize long-term wealth and asset protection.
The income of your SMSF is usually taxed at a rate of 15%. For you to be given this rate, your fund has to be a ‘complying fund’ that follows the laws and rules for SMSFs. The types of assessable income that we look at include assessable contributions, net capital gains, interest, dividends and rent.
Chrome Accountants will be able to assist you to prepare your SMSF lodgement along with various services.