Australia's tax system is one of the most complex in the world, made worse by legislation that contains grey areas that require the courts to work out if something is tax deductible or not.
In addition to tax, Government imposes additional compliance burdens, such as:
- Companies are required to review annual statements and inform them of any change to a company structure (shares, officeholders, etc);
- State Governments impose payroll tax requirements;
- All employers are required to hold Workcover insurance;
- Self Managed Superannuation Funds are subject to onerous record keeping requirements;
- And so on.
We are experts at navigating these minefields and while doing so are always on the look out for improvements you can make to save tax and keep the money in your pocket.