DNA Compliance includes effective bookkeeping, the numbers flows into your financial reporting in compliance with Australian Accounting Standards. From here the numbers flows into your quarterly GST/BAS return and to you annual income tax return. There is a direct relationship between the quality of your bookkeeping to the tax credits claimed through your GST/BAS return or tax deductions claimed through your income tax return. DNA compliance if managed ‘end-to-end’ by DNA is often bullet-proof to save you time and cost that ultimately translates into tax dollars saved for the future. Team DNA works with the ATO (Australian Taxation Office) and with ASIC (Australian Securities and Investments Commission) with a consultative approach to ‘manage’ your affairs on time and within expectation ranges so you can plan your business better.
Financial Reporting
DNA financial Reports are liked by clients, auditors and by banks. We have our own way to generate top quality financial reports from either your system or ours – after our expert team has reviewed the numbers to ensure a quality output is generated. In compliance with Australian Accounting Standards and tax legislations, DNA Financial Reports are undoubtedly one of our key difference makers.
BAS and Tax Returns
There are six elements that goes into preparing your BAS/GST returns. We ensure each of these six elements are reconciled with your books and numbers. These are also reconciled back to your financials so any future queries can be answered. Then there are cash incentives, government payouts, grants, GST credits, income tax benefits, franking accounts, tax deductions, tax offsets and payment arrangements that are diligently followed up by our tax team to create the maximum possible refund for your business permissible within the tax laws.
Bookkeeping
AS a DNA client, you will have a choice between two options each with a certain degree of assurance that auditors can place if they review your numbers signed off by us.
- Option 1 – You do bookkeeping using standard software and we do a review of your numbers. BAS compilation is based upon dual- reviewed data providing extra level of assurance. Medium level review performed on integrity of numbers.
- Option 2 – We do your bookkeeping using standard software. You have 24/7 access to your numbers. Your BAS to Financials to tax alignment is bullet-proof. Highest level of assurance can be placed on your numbers.