Australia has one of the most complex taxation systems in the world that is getting more complicated every year. In the 1989 year the individual tax return was 3 pages long, but fast forward to 2016 and you need to work through at least 12 pages to fulfill your annual obligation. At least the ATO provide instructions... all 82 pages worth that more often than not just confuses you.
Getting it done right is something MCA prides itself on. Our staff have spent years studying how our tax system works to ensure your return is accurate. However accurate tax returns is not the only thing we do - tax minimisation (legally of course) is an integral part of our standard service. Nobody should pay more tax than they are legally obliged to.
If you run a business, you shouldn't look at tax returns and financial statements as a burden and a cost. The reality is that your annual financial statements tell you a story about your business, and is the first step towards further planning.
A common mistake failed businesses make is not monitoring the financial position regularly enough or accurately enough. Most business owners don't have the expertise to analyse the financial position of their business.
A prime example is the correlation between the amount of cash in the bank and profitability. You can easily be "cash rich" and losing money at the same time. The more regularly you look at accurate financial statements, the better your understanding of where you business sits.