We like to think of ourselves as different to your standard accountancy firm. We look at each of our clients as a unique individual, with unique circumstances and needs. Looking at our clients from a holistic viewpoint gives us an opportunity to find out what is really driving you, why are you getting up each morning to go to work? Where do you want to be in one, two, five or ten years? What is really important to you and how can we help you achieve your goals? Sometimes this might not have anything to do with tax or BAS or accounting compliance work. We just want to see our clients get to where they want to be. We want to help them grow and thrive. We offer a free one hour, no obligation initial appointment for all potential new clients.

We deal with a wide range of clients from employed individuals with PAYG tax returns, rental properties, investment portfolios and cryptocurrencies right up to small, medium and large business clients, Self-Managed Superannuation Funds. We have clients locally, interstate & international and offer Zoom calls for all clients. We have experience in many different business areas and with all business structures; sole traders, partnerships, trusts, companies and other listed organisations. Our relationship with our clients is more than just about making sure their compliance work is up to date. We want to work with our clients to grow & develop their business and personal wealth and offer a range of services to suit their needs.

Short answer is 'no' you don't need to have a registered tax agent complete your accounts. Long answer is 'however, there are a tonne of benefits of enlisting their services' A Tax Agent must be registered with the Tax Practitioners Board and follow strict regulations that ensure they act in a professional manner. A registered Tax Agent lives and breathes tax and accounting, they can help you make the most of the tax reporting process and obligations, they know the ins and outs of what you can and can't claim, and can offer you up-to-date and sound advice on YOUR financial circumstances. We hear a lot of people say things like, "My mate from the gym said he got thousands back by claiming XYZ." or "My friend said that we should be able to do ABC like they did and not pay tax on it." From our experience it is important to remember that each and every situation is unique and it is important to get the most up to date and accurate information for your needs for what best for you in this current financial year and moving forward. Most registered tax agents have special lodgement schedules and can lodge returns for their clients later than the usual 31 October deadline. **If you did not go to a registered tax agent for the last tax year – or if you will be going to a different tax agent this year – make sure you see them before 31 October. See this article from the ATO that further explains the role of the tax agent.

Not at all, changing accountants is a simple process. Once you decide you are happy for us to be your registered tax agent, we take care of the hand over of all information and documents.

It really depends on your business needs, but generally, we recommend touching base with your accountant quarterly to review financial statements and discuss any tax planning opportunities. For more complex businesses, monthly meetings might be more appropriate.

Not at all. We welcome face-to-face appointments for all clients; however it isn’t an essential part of having your work done with us. We have clients all over Australia (and some overseas) and have several different means of keeping in touch; calls, emails, online submission forms, and online Zoom or Teams meetings. For new prospective clients – we offer a complimentary one hour meeting with no obligations.

A straight forward income tax return means there is usually just one or two payment summaries; some claimable expenses and private health insurance. It does not include any tax returns that include rental properties, investment portfolios or any business income (i.e. sole trader). The cost of one individual tax return, for one year is $165 (inc GST) (2024 pricing). If your work is a little more complex; you have a business, or rental properties or are looking for more than just a tax relationship, we suggest an initial meeting to get to know you and what is really important to you. We always quote upfront so you are fully aware of what is included BEFORE we start any work. We are transparent with all fees, so there are never any unexpected surprise bills. The traditional model for accountants was an hourly rate and we have moved away from this model in recent times, towards offering our clients monthly service agreements and upfront quoting. This is for a variety of reasons; – this traditional model, in essence, is a conflict of interest, because it means (as an industry) we are directly rewarded for how inefficient we are – the longer we take to do a job, the more we get. By having a set price or agreement in place, we are able to promote our emphasis on customer service and completing jobs quickly for our clients, ensuring our relationship is mutually profitable. – we have found it greatly assists your business cashflow, you know what to expect and when, there are no surprise invoices. – with our monthly agreements it can you peace of mind. Feel safe and secure in the knowledge that you can contact us, meet with us, ask us questions, whenever you need to and there will be no bill for our time.

Common tax deductions include work-related expenses, home office expenses, vehicle and travel expenses, and investment property expenses. However, it’s important to ensure these expenses are directly related to earning your income and that you keep evidence of purchases (receipts) for at least 5 years post lodgement.

Bookkeeping involves the day-to-day recording of financial transactions, while accounting involves interpreting, classifying, analysing, reporting, and summarising financial data. Essentially, bookkeeping is the foundation of accounting. If you need help managing daily financial transactions, a bookkeeper is ideal. However, if you require financial advice, tax planning, or need to make strategic business decisions, you should consult with an accountant. We offer both services here at MJA Business Solutions.

Business advice and coaching goes beyond traditional accounting by providing strategic advice to help your business grow. This includes financial forecasting, cash flow management, business planning, and helping you make informed decisions about expansion, investments, and more.

You should regularly review your income statement (profit and loss statement), balance sheet, and cash flow statement. These reports provide insights into your business's financial health and help you make informed decisions.

Financial forecasting helps you predict future revenue, expenses, and cash flow, allowing you to plan for growth, manage risks, and make informed decisions about investments and budgeting.

You must register for GST if your business has a turnover of $75,000 or more. Once registered, you need to charge GST on your sales, lodge BAS, and claim GST credits on your purchases.

A Business Activity Statement (BAS) is a form submitted to the ATO to report and pay GST, PAYG instalments, PAYG withholding, and other tax obligations. BAS is generally lodged quarterly, but some businesses may need to lodge monthly or annually.

The best business structure depends on your specific situation, including liability concerns, tax implications, and future growth plans. We can help you evaluate the pros and cons of each structure to make the best decision for your business.

As a business owner, you need to be aware of several tax obligations, including lodging your annual income tax return, registering for and lodging BAS for GST, and meeting your PAYG withholding obligations and superannuation, if you have employees.

The type of insurance you need depends on your business activities. Common types include public liability insurance, professional indemnity insurance, workers' compensation, and business interruption insurance. It’s important to assess your risks and speak to an insurance advisor.