Link Accounting | Small Business Tax Questions - WA
Have a question about small business accounting or tax in Western Australia? You’re not alone - and Link Accounting & Business Solutions is here to help with answers and expert guidance. Running a small business comes with lots of questions, especially when it comes to accounting, tax and compliance. Our goal is to take the hassle out of managing your business finances so you can focus on growth. Below we address a couple of the most common questions new and existing business owners ask us. Don’t see your question here? Just give us a call - our friendly team is always happy to help!
- Home
- Link Accounting | Small Business Tax Questions (WA)
I’m new to business. Can you help me get set up correctly?
Absolutely! We love working with start-ups and new entrepreneurs. Getting your business off on the right foot is crucial – and we handle all the initial financial setup so you don’t have to stress. With our small business accounting services, Perth start-ups don’t need to worry about registering a new entity or dealing with the ATO paperwork. We can:
With over two decades in the industry, our team brings extensive experience across industries and business life stages. We’ve coached start-ups, growing enterprises, and established companies, so we can tailor our expertise to your situation. Our accountants are Chartered Accountants and registered tax agents, ensuring you receive the highest standard of advice and compliance.
We believe in building long-lasting relationships. You’ll get a dedicated client manager who truly understands your business. We take the time to get to know you and tailor solutions – because no two businesses are the same. Whether you’re a solo tradie or manage a growing team, our advice is aligned to your goals.
Forget only seeing your accountant at tax time. We partner with you year-round, providing proactive tax planning, regular check-ins, and strategies to improve performance. Our clients often tell us they “sleep better at night” knowing we’ve got their compliance and planning covered – before issues arise. We’re not just number-crunchers; we’re business advisors who help you forecast, plan, and grow.
Tired of paperwork? So are we. Link Accounting will set up seamless cloud-based accounting systems (like Xero or MYOB) to streamline your bookkeeping and reporting. Enjoy real-time financial data and automated processes that save you time and reduce errors. We’ll train and support you in using these tools, so you have clarity and control over your numbers anywhere, anytime.
We welcome you to the firm with a complimentary first consultation*. This no-obligation meeting lets us discuss your needs and show how we can add value – a risk-free way for you to get to know us. (Book yours now at (08) 9455 7022)
Based in Victoria Park, we are proud locals. Our team understands Western Australia’s business landscape, state tax requirements, and local market conditions. When you work with us, you get big-firm expertise delivered with small-firm friendliness and the practicality of a fellow WA business. Expect a professional yet approachable tone in all our interactions – we explain accounting in plain English and are always just a phone call away for quick questions.
ABN & TFN registration▼
We lodge the applications and keep you compliant from day one.
With over two decades in the industry, our team brings extensive experience across industries and business life stages. We’ve coached start-ups, growing enterprises, and established companies, so we can tailor our expertise to your situation. Our accountants are Chartered Accountants and registered tax agents, ensuring you receive the highest standard of advice and compliance.
ST & PAYG Withholding ▼
We assess if you need them now, register when appropriate, and configure your accounts.
We believe in building long-lasting relationships. You’ll get a dedicated client manager who truly understands your business. We take the time to get to know you and tailor solutions – because no two businesses are the same. Whether you’re a solo tradie or manage a growing team, our advice is aligned to your goals.
Right business structure▼
Sole trader, partnership, company or family trust; we explain tax/asset-protection pros & cons and can arrange fast company or trust setup.
Forget only seeing your accountant at tax time. We partner with you year-round, providing proactive tax planning, regular check-ins, and strategies to improve performance. Our clients often tell us they “sleep better at night” knowing we’ve got their compliance and planning covered – before issues arise. We’re not just number-crunchers; we’re business advisors who help you forecast, plan, and grow.
Cloud bookkeeping (Xero/MYOB)▼
Tailored chart of accounts, invoice templates, bank feeds, and hands-on training for clear, real-time numbers.
Let us handle the setup while you build momentum. You’ll start fully compliant, optimally structured and confident with Link Accounting.
Tired of paperwork? So are we. Link Accounting will set up seamless cloud-based accounting systems (like Xero or MYOB) to streamline your bookkeeping and reporting. Enjoy real-time financial data and automated processes that save you time and reduce errors. We’ll train and support you in using these tools, so you have clarity and control over your numbers anywhere, anytime.
We welcome you to the firm with a complimentary first consultation*. This no-obligation meeting lets us discuss your needs and show how we can add value – a risk-free way for you to get to know us. (Book yours now at (08) 9455 7022)
Based in Victoria Park, we are proud locals. Our team understands Western Australia’s business landscape, state tax requirements, and local market conditions. When you work with us, you get big-firm expertise delivered with small-firm friendliness and the practicality of a fellow WA business. Expect a professional yet approachable tone in all our interactions – we explain accounting in plain English and are always just a phone call away for quick questions.
What is a BAS return, and should I register for GST?
Great question! A BAS (Business Activity Statement) is a form that businesses registered for GST must lodge with the ATO, usually quarterly (or monthly for larger businesses). In a BAS, you report and pay several tax obligations, primarily Goods and Services Tax (GST) collected and paid, as well as PAYG withholding (if you have employees) and other taxes if applicable.
Whether you need to register for GST depends on your turnover:
BAS & GST - Who lodges and when ▼
Any business registered for GST must lodge a BAS, usually quarterly, and monthly for larger businesses, reporting GST on sales and purchases plus PAYG withholding if you have employees (and other applicable taxes). If your projected 12-month turnover is $75,000 or more you must register for GST and start lodging BAS; if you’re under the threshold, registration is optional and depends on cash flow, admin burden and your goals.
Not sure whether to register? Our Perth tax planners can assess your forecast, guide the decision and handle registration and BAS lodgements to keep you ATO-compliant.
Accurate financial bookkeeping, preparation of financial statements, and ensuring you meet all compliance obligations. We handle GST/BAS preparation and lodgement, payroll processing, superannuation compliance, and PAYG reporting. All your routine accounting tasks are managed efficiently so you stay compliant with the ATO and avoid any penalties. (You didn’t go into business to do bookkeeping and admin paperwork – so leave it to us! We’ll put systems in place to handle it
Strategic tax planning to minimize your tax liability and maximize your after-tax profit. Our tax accountants prepare annual company tax returns, sole trader and partnership returns, and offer guidance on deductions and incentives relevant to your industry. We stay up-to-date on tax law changes and proactively advise you on the best tax-effective structure and strategies (for example, whether to use a company, trust, or sole trader setup). Before EOFY, we’ll meet for annual tax planning to implement strategies that legally reduce taxes and avoid surprises.
Expert advice on choosing and setting up the right business structure. Whether you are starting a new venture or looking to restructure an existing one, we’ll evaluate the options – sole trader, partnership, company, trust – and recommend the optimal structure. Our focus is on both efficiency and asset protection: safeguarding your personal and family assets from business risks. We can also review your current structure and suggest changes if it’s not providing adequate protection or tax efficiency.
“Cash is king” in any small business. We will help you prepare realistic cash flow forecasts and budgets, so you can plan for seasonal fluctuations and growth. By monitoring cash flow and comparing actuals to forecasts, we identify potential shortfalls in advance and craft solutions (like adjusting expenses or seeking finance). Our aim is to improve your business’s cash position, ensuring you can meet obligations and invest in opportunities.
Think of us as your external CFO. We provide business advisory services ranging from financial analysis of new opportunities to guidance on improving profitability. Are you looking to grow or scale up? We’ll analyze your financials and KPIs to pinpoint areas for improvement (cost control, pricing strategy, margin enhancement) and help set achievable goals. Considering a major decision like purchasing a new asset or expanding premises? We conduct feasibility studies and scenario planning so you can make informed choices.
Planning to eventually sell or hand over your business? It’s never too early to start succession planning. Link Accounting guides you through preparing your business for sale or transition – from valuing your business and tidying financial records to advising on tax-effective exit strategies (like small business CGT concessions). Our goal is to help you maximize the value you’ve built when the time comes to exit or retire.
We’re not just accountants; we’re partners in your success. Many of our small business clients benefit from regular coaching-style meetings. In these sessions, we review your financial performance, discuss challenges, and keep you accountable to your business goals. It’s like having a knowledgeable business mentor who can interpret the numbers and guide you on strategy. Our clients love that we explain financial concepts in plain language and help them become more confident business owners.
Why would a small business voluntarily register for GST if under $75k?
Under the $75k turnover threshold, GST registration is optional. For some Perth start-ups, registering early can improve cash flow and credibility—provided the extra BAS admin fits your capacity.
Voluntary GST (Under $75k): Pros & Trade-offs▼
Registering for GST below the $75k threshold can let you claim back GST on start-up purchases such as equipment and stock, improving cash flow; it may also signal that your business is established, which some clients and suppliers prefer. The trade-off is additional paperwork and regular BAS lodgements, so if cash is tight or admin capacity is limited, you may choose to wait.
With over two decades in the industry, our team brings extensive experience across industries and business life stages. We’ve coached start-ups, growing enterprises, and established companies, so we can tailor our expertise to your situation. Our accountants are Chartered Accountants and registered tax agents, ensuring you receive the highest standard of advice and compliance.
We believe in building long-lasting relationships. You’ll get a dedicated client manager who truly understands your business. We take the time to get to know you and tailor solutions – because no two businesses are the same. Whether you’re a solo tradie or manage a growing team, our advice is aligned to your goals.
Forget only seeing your accountant at tax time. We partner with you year-round, providing proactive tax planning, regular check-ins, and strategies to improve performance. Our clients often tell us they “sleep better at night” knowing we’ve got their compliance and planning covered – before issues arise. We’re not just number-crunchers; we’re business advisors who help you forecast, plan, and grow.
Not sure what’s best? We’ll review your 12-month forecast, weigh the pros and cons, and handle any registration and BAS preparation. Bonus tip: if you do register, we’ll set up your software (Xero/MYOB) to track GST correctly making BAS time far simpler.
Tired of paperwork? So are we. Link Accounting will set up seamless cloud-based accounting systems (like Xero or MYOB) to streamline your bookkeeping and reporting. Enjoy real-time financial data and automated processes that save you time and reduce errors. We’ll train and support you in using these tools, so you have clarity and control over your numbers anywhere, anytime.
We welcome you to the firm with a complimentary first consultation*. This no-obligation meeting lets us discuss your needs and show how we can add value – a risk-free way for you to get to know us. (Book yours now at (08) 9455 7022)
Based in Victoria Park, we are proud locals. Our team understands Western Australia’s business landscape, state tax requirements, and local market conditions. When you work with us, you get big-firm expertise delivered with small-firm friendliness and the practicality of a fellow WA business. Expect a professional yet approachable tone in all our interactions – we explain accounting in plain English and are always just a phone call away for quick questions.
More Questions? We Have Answers
The above are just a couple of common queries. You might also be wondering about things like:
What deductions can I claim as a business owner?
We’ll ensure you don’t miss out on any legitimate tax deductions, from home office expenses to vehicle use or depreciation on equipment.
How do I pay myself as the owner?
We explain the most tax-effective way to draw income, whether as salary, dividends, or drawings, depending on your structure.
Can you help with payroll and super compliance?
Absolutely. We set up and run payroll for many clients, making sure employees are paid correctly and superannuation is lodged on time.
Which accounting software should I use?
We are Xero and MYOB experts (among others). We’ll recommend the best platform for you and get you set up with training included.
In short, we provide a complete range of taxation, accounting, and advisory services to small businesses all over Perth and WA. Whether you’re a sole trader needing a simple tax return or a growing company requiring CFO-level advice, our team has the expertise to assist.
Accurate financial bookkeeping, preparation of financial statements, and ensuring you meet all compliance obligations. We handle GST/BAS preparation and lodgement, payroll processing, superannuation compliance, and PAYG reporting. All your routine accounting tasks are managed efficiently so you stay compliant with the ATO and avoid any penalties. (You didn’t go into business to do bookkeeping and admin paperwork – so leave it to us! We’ll put systems in place to handle it
Strategic tax planning to minimize your tax liability and maximize your after-tax profit. Our tax accountants prepare annual company tax returns, sole trader and partnership returns, and offer guidance on deductions and incentives relevant to your industry. We stay up-to-date on tax law changes and proactively advise you on the best tax-effective structure and strategies (for example, whether to use a company, trust, or sole trader setup). Before EOFY, we’ll meet for annual tax planning to implement strategies that legally reduce taxes and avoid surprises.
Expert advice on choosing and setting up the right business structure. Whether you are starting a new venture or looking to restructure an existing one, we’ll evaluate the options – sole trader, partnership, company, trust – and recommend the optimal structure. Our focus is on both efficiency and asset protection: safeguarding your personal and family assets from business risks. We can also review your current structure and suggest changes if it’s not providing adequate protection or tax efficiency.
“Cash is king” in any small business. We will help you prepare realistic cash flow forecasts and budgets, so you can plan for seasonal fluctuations and growth. By monitoring cash flow and comparing actuals to forecasts, we identify potential shortfalls in advance and craft solutions (like adjusting expenses or seeking finance). Our aim is to improve your business’s cash position, ensuring you can meet obligations and invest in opportunities.
Think of us as your external CFO. We provide business advisory services ranging from financial analysis of new opportunities to guidance on improving profitability. Are you looking to grow or scale up? We’ll analyze your financials and KPIs to pinpoint areas for improvement (cost control, pricing strategy, margin enhancement) and help set achievable goals. Considering a major decision like purchasing a new asset or expanding premises? We conduct feasibility studies and scenario planning so you can make informed choices.
Planning to eventually sell or hand over your business? It’s never too early to start succession planning. Link Accounting guides you through preparing your business for sale or transition – from valuing your business and tidying financial records to advising on tax-effective exit strategies (like small business CGT concessions). Our goal is to help you maximize the value you’ve built when the time comes to exit or retire.
We’re not just accountants; we’re partners in your success. Many of our small business clients benefit from regular coaching-style meetings. In these sessions, we review your financial performance, discuss challenges, and keep you accountable to your business goals. It’s like having a knowledgeable business mentor who can interpret the numbers and guide you on strategy. Our clients love that we explain financial concepts in plain language and help them become more confident business owners.
Need personalised advice or
have a specific question?
We’re just a phone call or email away. Contact Link Accounting at (08) 9455 7022 or enquiries@linkacct.net.au and we’ll happily answer your questions. We also offer a free initial consultation if you’d like to sit down and discuss your business in detail.
Additionally, you can explore our Frequently Asked Questions page for more quick answers, or read through our blog for helpful tips. Remember, no question is too simple or too complex – our goal is to give you clarity and confidence in all aspects of your small business finances.
What to Expect When You Work with Us
We offer a comprehensive suite of accounting, tax, and advisory services to cover every aspect of your small business’s financial needs. When you partner with Link Accounting, you effectively gain a virtual CFO and finance department that you can dial in as needed. Our business solution services include:
Initial Review & Personalized Plan ▼
Our first step with any new client is a complete review of your current operations and business structure. We want to understand how you’re set up, what’s working, and what needs improvement. From this review, we’ll provide you with actionable recommendations – whether it’s a better accounting system, a tax strategy you haven’t utilized, or an asset protection measure to put in place. Together, we develop a road map tailored to your business.
Smooth Onboarding and System Setup ▼
Next, we’ll get you set up on our systems with minimal disruption. If you require a cloud accounting platform (like Xero), we handle the setup and training. We also liaise with your previous accountant or bookkeeper (if applicable) to transfer information seamlessly. Our team will ensure all ATO registrations, accounting files, and records are in order. You’ll meet the key team members who will be looking after you, so you know exactly who to contact for what.
Ongoing Support & Meetings ▼
Throughout the year, count on us as an extension of your team. We’ll schedule regular check-ins – for some clients that’s quarterly strategy meetings (included in many packages), for others it might be a quick monthly call. Need advice out of the blue? Just ring or email us – we encourage questions and are happy to be your sounding board on financial decisions. And when those inevitable urgent issues pop up (say, a looming BAS deadline or a finance application needing statements), we prioritize getting you sorted fast.
Comprehensive Year-End Process ▼
Come end of financial year, we really roll up our sleeves. We’ll do a thorough tax planning session before June 30 to implement any last-minute strategies. After year-end, we prepare your financial statements and tax returns promptly. Then we sit down with you for an annual review meeting – to not only go over the past year’s results, but also plan for the year ahead. We’ll discuss tax-saving outcomes, business performance, and set goals for the new year. This annual cycle ensures continuous improvement and no surprises at tax time.
Access to Resources & Referrals ▼
As a Link Accounting client, you also gain access to our network and resources. We have affiliates in financial planning, insurance, and lending (finance brokers) – so if you need help beyond accounting, we can refer trusted professionals. Check out our blog for free tips and our client resources library for handy guides on topics like record-keeping or cash flow. We want to empower you with knowledge, not keep you in the dark.
Succession Planning & Exit Strategies ▼
Planning to eventually sell or hand over your business? It’s never too early to start succession planning. Link Accounting guides you through preparing your business for sale or transition – from valuing your business and tidying financial records to advising on tax-effective exit strategies (like small business CGT concessions). Our goal is to help you maximize the value you’ve built when the time comes to exit or retire.
Coaching & Mentoring ▼
We’re not just accountants; we’re partners in your success. Many of our small business clients benefit from regular coaching-style meetings. In these sessions, we review your financial performance, discuss challenges, and keep you accountable to your business goals. It’s like having a knowledgeable business mentor who can interpret the numbers and guide you on strategy. Our clients love that we explain financial concepts in plain language and help them become more confident business owners.
Your Local Perth Accounting Team
Here When You Need Us
Not sure which package fits you? Don’t worry – during our free initial consultation, we’ll learn about your business and recommend the ideal package. And as your business evolves, we can smoothly transition you to the next level of service.
Phone:
Hours:
Monday to Thursday 9:00 AM – 5:00 PM
Friday 9:00 AM – 3:30 PM
Closed on weekends & public holidays
Parking:
Free parking is available in our building
When you visit our office, you’ll be greeted with a smile (and probably an offer of coffee or tea!). We strive to create a welcoming, family-friendly atmosphere.
In fact, many clients tell us they actually enjoy coming to see their accountant now – a sentiment we consider the highest compliment!
