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F.A.Q.

Frequently Asked Questions

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

Congratulations! Starting a business is no small decision. A high percentage of businesses close down in the first two years. Getting good advice from the qualified Accountant shows that you’re on the right track. They can help you with a number of key financial decisions including:

  • Should I register a company or a trust?
  • How do I prepare a business plan?
  • What types of business expenses can I claim through my tax?
  • What registrations do I need to operate my business legally?
  • When do I need to lodge tax and how much do I need to put aside?

To help you understand other steps you might need to consider, please go to this link: Guide to starting a business. If you’re still stuck, feel free to contact us for further assistance.

Can you recommend a suitable accounting software for our business?

Well done on deciding to get help with this important step.  Yes, we could help you set up your software or train you on how to make the most of it on a daily basis in your business operations. Having access to up to date financial data means you know if your business is on track and what to do if it’s off track. We recommend market-leading softwares such as Xero, MYOB or Quickbooks to all our small business clients.

Do I need to register for GST?

If you run a business, you may be required to register for GST if your turnover is $75,000 or more. This thereshold is assessed on a monthly basis. Most registered businesses are required to lodge Business Activity Statements (BAS) to the ATO every quarter. Contact us if you are unsure or need further assistance.

How much do you charge for a simple tax return?

What you pay is important to us. Therefore, to give you more certainty, we are able to give you a fixed price estimate once we know the full scope and complexity of work involved. Our fee schedule is transparent, there shouldn’t be any unexpected costs. Contact us for more info.

Do you offer online appointment?

Yes. For convenience or health reasons, we are able to conduct our meeting via secure video call platforms such as Microsoft Teams or Zoom. We could have the whole work done remotely without you having to leave the comfort of your home or place of business. Contact us for more details.

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1 Whipple Street, Balcatta WA 6021
P: 08 6377 7632

 

Verity Advisory is a Chartered Accounting firm servicing local businesses in Perth.

Liability limited by a scheme approved under Professional Standards Legislation.

 

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