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F.A.Q.

Frequently Asked Questions

How much do you charge for a simple tax return?

Thanks for asking. What you pay is important to us. However, we don’t have a standard fee for a tax return as every one of them is different. What we do provide though is an upfront cost estimate once we know the full extent and complexity of work involved in correctly preparing your tax return. Therefore there shouldn’t be any unexpected costs. 

Given the current COVID-19 situation, do you offer online appointment ?

Yes. Your safety is our top priority. As much as possible, in line with current health guidelines, we are able to conduct our meeting via secure video call platforms eg Microsoft Teams. We could get the whole work done remotely without you having to leave your home or place of business. 

I am ready to start my own business, what can an accountant help me with?

Congratulations! Starting a business is no small decision. Over 90 percent of businesses close down in the first two years. Getting support from the right accountant significantly improves the chance of your business surviving its early years. A good accountant can help you with a number of key decisions including:

  • Should I register a company or a trust?
  • How do I prepare a business plan?
  • What expenses can I claim through my tax?
  • How do I grow my business?
  • How do I protect myself and my business if things go wrong?
Can I use Excel to prepare my business accounts?

In the very early stage, it may be viable to use Excel to keep a complete record of your income and expenses. However given the extra efficiency and data security offered by most accounting softwares, the huge benefits would far outweigh the small cost incurred, especially as your business grows in size and complexity. We could help you set it up and train you on how to use it on a day to day basis in your business.

What is GST?

GST is a Goods and Services Tax introduced by the Australian government which came into effect in 2000. The current rate is 10% tax which is added to the price of most goods sold and consumed in Australia. If you run a business, you may be required to register for GST if your turnover is $75,000 or more. Talk to us if you are unsure.

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Verity Advisory
1 Whipple Street
Balcatta WA 6021
Email: support@verityadvisory.com.au

 

About Us

Verity Advisory provides personalised accounting services to a select group of small businesses in Perth.

Liability limited by a scheme approved under Professional Standards Legislation.

 

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