ACCOUNTING

Our services including bookkeeping, reconciling, accounting systems, financial reporting, cashflow and finance forecasting, stock control and financial analysis. We have access to professional support through a number of associations, including a Certificate of Public Practice with Chartered Accountants Australia and New Zealand, and membership with the National Tax and Accountants’ Association.

TAX

We advise on Income Tax, Capital Gains Tax, Fringe Benefits Tax, Goods and Services Tax, Pay As You Go Tax and Division 293 Tax for high income earners. We also advise on State taxes and charges, including Payroll Tax, WorkCover and Land Tax.

We prepare and lodge income tax returns and business activity statements for companies, trusts, partnerships, individuals and superannuation funds. In particular, we prepare schedules on rental properties, capital gains and work related expenses. We also calculate and claim the myriad of tax offsets and rebates available.

SMALL
BUSINESS

Our definition of small business is basically one where the owners are the chief executives – or to use a catch-phrase “where the man who runs the store, owns the store” ! Whilst this definition certainly covers one person businesses, it also includes various small business clients we have that employ well in excess of 50 staff and with annual turnover in excess of $10m.

Our advice and service in this area includes corporate structures, business registrations, shareholder and partnership arrangements, start up and exit strategies, succession planning, employment issues, and ongoing compliance, secretarial and regulatory requirements.

SMSF
ADVISORY

We are an Authorised Representative of an independent Australian Financial Services Licence (AFSL) holder. This is important if an accountant is to advise on Self Managed Superannuation Funds (SMSF) and superannuation related issues generally.

From 1 July 2016, accountants are no longer able to legally advise on SMSF’s and superannuation related issues unless they are licensed under an AFSL. Basic questions that need to be answered under an AFSL include:

• How much should I contribute to super?
• Should I direct some of my company profits to super?
• Should I rollover into a SMSF?
• When do you think I should start my super pension or take a lump sum?
• Should my pension be reversionary to my spouse?
• What is the best structure to purchase property in my SMSF?

To ensure L. E. Hamilton & Co continues to meet clients’ expectations in providing advice, and to satisfy these new legislative requirements, Leigh Hamilton personally completed a “Superannuation and SMSF” qualification in 2016 through Kaplan Professional and has since become an Authorised Representative of SMSF Advisers Network Pty Ltd (SAN). SAN has been set up by the National Tax and Accountants’ Association and is not owned by any fund manager, bank, superannuation fund, life insurer or financial planner – imperative to ensure independent and impartial advice.

Liability limited by a scheme approved under Professional Standards Legislation

ABN 19 884 726 380