Tax & Accounting

Tax & Accounting in Coffs Harbour

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Serving Businesses & Individuals

At OTG Accountants, we work with you to meet your specific needs. We have the right person for you and provide a range of accounting services, from taking care of individual returns to advising on large corporate structures.

We have three accountants who specialise in different areas. Our team together can help you find the most suitable solution for your needs. We will review your overall tax situation and look for opportunities for you to improve your financial performance. Our goal is to help you to accumulate wealth more efficiently and minimise your tax.

Our Coffs Harbour accountants can help you no matter where you are in Australia. We are more than happy to answer any questions you may have at any time. Get in touch with us today on (02) 6699 2826 to book an appointment.

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Accounting Services For Individuals

Our accountants can assist with a range of individual returns, from basic salary and wages returns to investment and sole trader returns. We can also take care of your Business Activity Statements (BAS) and can help you with any GST or PAYG queries that you may have.

What’s more, we specialise in providing investment property and tax strategies to investors. Through our preferred financial advisor, we can assist you with using your superannuation to minimise tax or invest in property.

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Accounting Services For Businesses

Our accountants can help with the preparation and lodgement of company tax returns, ensuring you meet all your taxation obligations.

We prepare all kinds of financial statements and can take care of your accounting needs from the ground up, whether you operate a small or large business. We can prepare your Business Activity Statements (BAS) and assist with any GST or PAYG queries that you may have.

We also offer strategic accounting and business structure advice, budgeting services and bookkeeping services/assistance. Whatever your needs, we offer a complete range of services and will work with you to grow your business.

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Budgeting & Bookkeeping

We have preferred bookkeepers who can maintain your accounts for you on a regular basis, as well as provide bookkeeping or budgeting advice as required.

Our preferred bookkeepers are trained in accounting and can maintain the accounts for you with the view of simplifying the year-end accounting work at the same time, thus reducing time spent on preparing tax returns and financial reports. Our bookkeepers can use many different software programs and methods—from MYOB, Quicken, Xero and Excel to the good old shoebox, we can do it all.

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Strategic Accounting & Business Structures

The goals of most people who are investors or in business would be to make good returns for their efforts, and for the money they have spent on the investment in their business or other income-generating assets. Sadly, sometimes the structures these clients have chosen are not tax effective and may lead to expensive outcomes that are hard to reverse later on.

One of the most important decisions to accumulating wealth effectively and minimising your tax is by using the best structure that works for you or your business. As part of our tax planning, we can review your structure and help set things up for you to ensure you are getting the most from your business or investment.

Frequently Asked Questions

What expenses can I claim on tax?

Expenses that can be claimed on tax may include work-related expenses, such as uniforms, tools and equipment, work-related travel expenses, self-education expenses, charitable donations and income protection insurance premiums. It is important to keep records and ensure expenses are directly related to earning income.
Why should I pay someone to handle my accounting?

Hiring an accountant can help ensure that your finances are managed efficiently and accurately, saving you time and reducing the risk of errors. An accountant can also provide valuable advice on tax planning, financial analysis and business growth strategies, allowing you to focus on what you do best: running your business.
When do I need to register my business for GST?

Businesses are required to register for the Goods and Services Tax (GST) if their annual turnover is $75,000 or more. If your business is a non-profit organisation, the annual turnover threshold is $150,000 or more. Businesses can also choose to register for GST voluntarily if their annual turnover is below the threshold. This can be beneficial if the business wants to claim back the GST paid on expenses, as they will need to charge GST on their sales.