If you are a business that is operating in Australia you must prepare accounts and a tax return each year.
The accounts and tax return are usually prepared for the year to the 30th of June, although a different year end – known as a Substituted Accounting Period – can be sought from the Australian Taxation Office if you have an overseas parent company that prepares accounts to a different financial year end.
It you are running your business in Australia as an unincorporated entity – such as a sole proprietor, a partnership, or as a family trust – the annual accounts will not need to be lodged with a third party regulator in Australia, but they will form the basis of the business tax return.
The same applies to businesses that are being operated through a Pty Limited.
However, overseas businesses that are operating in Australia as a branch with an Australian Registered Body Number (an ARBN) have an obligation to submit the accounts of the overseas business with Australia’s company regulator each year.
If you are a business that is not incorporated in Australia that is operating in Australia through a branch – or you are planning to do so – please contact us to discuss your filing obligations in Australia, as this is a specialised area.
You should be aware of the additional costs and obligations of trading as an Australian branch, compared with alternatives such as establishing a new limited company in Australia.
If you are a business in Australia bdh Tax can help with your end of year obligations, including:
- Preparing the accounts of the business
- Preparing the tax return of the business for submission to the Australian Taxation Office
Whenever possible bdh Tax provides a fixed fee quote to all who are interested in engaging our services.
If you have a business in Australia that requires assistance with the preparation of your end of financial year accounts and tax returns please contact us by completing the enquiry form on this webpage, or telephone the bdh Tax office that is closest to you.
We look forward to hearing from you.