SAVE TIME, MONEY, AND STRESS

Business accounting, made simple

We understand accounting and tax can eat up a lot of your time, and we are here to take the weight off your shoulders. Beany’s team will help you manage your business with ease – from structural advice, to bookkeeping, tax preparation, tax filing, Xero setup and training. Our expertise comes without the jargon, and is designed to help you save you both time and money.

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CALLING ALL BUSINESS OWNERS

Understanding business accounting and tax

Business structure

In Australia, the common business structures are sole traders, companies, partnerships, and trusts. The choice of your business structure can affect how much tax you need to pay, and other tax responsibilities.

Paying taxes

Businesses are required to pay various taxes – including income tax, GST, and payroll taxes (PAYG withholding).

Registering for GST

Australian businesses with an annual turnover above $75,000 are required to register for GST, and then charge GST on their sales. If your annual turnover is below this threshold, GST registration is voluntary.

Filing tax returns

Businesses are required to file tax returns with the ATO on a regular basis. If you file your own income tax returns, the deadline each year is the 31st of October. However, if you’re working with an accountant, this deadline may be extended to the 15th of May the following year.

You’re also required to file BAS returns on a regular basis. The BAS filing frequency in Australia is monthly, quarterly, and annually. Our key date calendar helps you keep track of these deadlines.

Keeping up with the changes

Tax laws and regulations can change, so it’s important to stay informed on any new developments that may affect your business.

Keeping records

Business owners are required to keep accurate financial records to ensure compliance with tax laws- this includes invoices, receipts, and bank statements. The ATO requires you to keep these records for at least 5 years.

WHAT’S IN IT FOR YOU

What do you get with a Beany core package?

We’ve bundled everything you need into our core package, with one fixed cost split over 12 months. This covers your end-of-year accounts, tax minimisation, unlimited support/advice and more.

We also have a wide range of other helpful services to help you as you start out or as you grow, such as bank reconciliation, tax returns, advisory, and more. Reach out to us for a free chat – we’d love to help.

Dedicated AU-based accountant

You’ll get your own dedicated, certified accountant for all your accounting needs.

Tax compliance

With a painless annual questionnaire, Beany accountants will have all the information they need to process your tax returns.

Unlimited support

Need help with your Xero file? Not sure when your tax is due, or what to do with your payroll? You can call and email our Customer Support desk as often as you like.

Reduced taxes

Conquer your taxes once and for all – we carefully interpret accounting and tax legislation to enable you to pay the least amount of tax legally possible.

Goal setting

Achieve your financial goals with Beany. Your accountant is there to help you set a plan, and will keep in touch to see how you are tracking.

Proactive information and alerts

Never miss a deadline or vital information again with key business tips and strategies delivered to you.