Personal Tax

c l financial charts and graphs

    Personal tax services from reliable Accounting firm.

    At CL Financial, our expert financial team provides clients throughout Raymond Terrace and Cardiff with a comprehensive range of professional taxation and accounting services. So, for hassle-free accounting in Newcastle, just give us a call today.

    Expert accounting services in the Hunter

    At CL Financial, our expert financial team provides clients throughout Raymond Terrace and Cardiff with a comprehensive range of professional taxation and accounting services. So, for hassle-free accounting in Newcastle, just give us a call today.

    Accountancy, superannuation and pension funds

    We provide accounting services to both small and micro business, and will accept any form of bookkeeping, including manual and electronic. With a monthly service available, this will help you to keep pace with your business and cash flow and ensure that all records are suitably up to date.

    For an appointment with us in Newcastle, contact us on 02 4987 2413 or email accountancy@clfinancial.com.au.

    Bookkeeping

    We also provide bookkeeping services to small business at very reasonable rates (depending on the complexity of the job) through our Cardiff office.

    Contact: Brenda Low

    Phone: 02 4956 6224

    Email: bmlow@idl.com.au

    Business structures

    Every business owner should take care to protect their assets, as one mistake from you or a careless employee could result in the loss of the business and/or family home. At CL Financial, we can provide the advice you need to ensure that you’re covered, should the worst happen.

    This includes guidance on issues such as deciding which ‘vehicle’ a business or asset is placed upon – i.e. whether it’s established as a company, trust, sole trader business, partnership, etc. Mistakes could be costly and expensive to wind back.

    Download : Taxation & Accounting Articles

    Example

    A person may purchase a real estate agency in his or her own name. As things go well, the owner may then want to share the profits with their spouse to reduce tax. Later, the owner may want to take on partners or gain the benefit of a family unit or service trust.

    Every time you change the business entity and structure, however, you change ownership. This means the tax man takes his cut before you’ve even sold your business.

    If you started your business from scratch, then your ‘cost base’ may well be nil. If you later sell or transfer the business, to say, your Family Trust, then you may pay Capital Gains Tax on virtually 100% of the value of the business – often as calculated by the Tax Office. This can have VERY COSTLY results. Your decision made today may affect the future value and flexibility of the business.

    Which structure is best? 

    Every taxpayer is different. For one person, a Family Trust is best. For another, a partnership may reduce more tax. The business vehicle best suited for you requires the skills of your accountant and tax lawyer – which is where we come in.

    Taxation and accounting articles

    More information regarding taxation and accounting is available to download below. Download the PDF to read about:

    • Self-managed superannuation - keeping the deed up-to-date
    • Investment properties record keeping

      Don't hesitate to call us for expert taxation and accounting services in Newcastle.

      Call us today on 02 4987 2413 for more information
      about our personal tax services.

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