Accountants in Leichhardt 

Unwanted attention and penalties from the ATO can jeopardise your small business. Newcombe & Co., located just a 10-minute drive away from Leichhardt, can help you protect your business by avoiding these common small business tax errors.

Tax laws frequently change, and compliance requirements can be time-consuming and demanding. A registered tax agent in the Leichhardt area will streamline your financial processes, provide advice on maximising your finances and keep you compliant.

Small businesses that do not declare their income and deductions accurately will attract the ATO’s attention and financial penalties. All foreign income, capital gains tax, business sales and bank interest must be declared. You must also have legitimate evidence supporting your tax deduction claims.

Businesses that fail to keep accurate records will struggle to remain compliant. our accountants near Leichhardt can help you keep track of:

• Cash, online, EFTPOS, bank statements, credit and debit card transactions.
• Records showing when you use business purchases for private purposes to provide evidence for tax deduction claims.

The ATO will sanction employers that fail to pay their employees’ superannuation correctly and on time. Make sure your mandatory quarterly payments are paid at the correct rate of 9.5% of your employee’s pay. The cash-flow benefits of delaying super payments and missing deadlines are not worth the financial and criminal punishments incurred by frequent breaches.

Newcombe & Co. is a dedicated team in the Leichhardt area. Our business accounting services can be tailored to suit businesses of any size, at any stage of their life cycle.