Income Tax Returns

Carmelo Mirabile & Co. is a CPA Firm located in Mt Evelyn. We are fully focused on obtaining the best possible tax results for our clients while at the same time ensuring they are legally compliant.

We offer a personalised service tailored to our clients’ individual needs. We pride ourselves on providing a warm, approachable and friendly environment for our clients thereby building long term relationships with them.

We keep up-to-date with the latest tax developments by attending monthly seminars, webinars and conferences. We understand how quickly tax laws change, how fast business strategies and methods develop and we recognise the importance of access to the latest information for the benefit of our clients.

Whether you are a small to medium-sized business, an individual, sole trader, superannuation fund or whether you are running your business through a trust, partnership or a company we have the expertise and knowledge to understand your business and to meet your needs.

No return is too big or too small we apply the same level of diligence and care to all our clients without exception.

While preparing client tax returns we look to claim all possible tax deductions to which they are legally entitled. We pay particular attention to the industry our clients operate in, review related ATO benchmarks and for the security of our clients, we ensure that any variations away from those benchmarks can be readily explained in the event of an ATO audit.

We can assist you with all your tax needs – Call for a confidential appointment.

Individual Tax Returns

Except in certain situations, every individual who is gainfully employed and/or has investment or other income must lodge a tax return every year. Australian resident taxpayers are taxed on their worldwide income from all sources. This includes:-

Salary and wages
Interest from bank accounts/interest bearing deposits/loans
Dividends and other income from investments
Bonuses/allowances and overtime an employee receives
Commissions a salesperson receives
Sole trader income
Pensions
Rent
All Australian and overseas income

We at Carmelo Mirabile & Co. look to provide personalised service to our clients aiming to build long term relationships with them. We are a long established firm and clients are not confronted with a new face every year. We recognise the importance of continuity and endeavour to provide friendly professional service to all our clients, with over thirty year’s professional service and experience we look to maximise your refunds by claiming all legally allowable deductions.

We have extensive knowledge and experience in all facets of rental properties, negative gearing, capital gains tax, other investment income reporting and taxation advice.

Our fees are very competitive and are fully tax deductible.

Company Tax Returns

Unlike individuals, companies do not have a tax-free threshold, they are taxed from the first dollar of taxable income.

The company tax rate can vary from 30% to 25% depending on:

whether the company is a Small Business Entity,
whether the company is a Base Rate Entity
whether the company is a not-for-profit company
the aggregated level of the company’s turnover
the assessable income percentage that is base rate passive income

Company tax returns can be very complex and with tax legislation constantly changing it is important to be up to date with these changes. Whether operating a small company enterprise or a large one, compliance is mandatory to all.

When preparing tax returns for our clients, we are not only looking to prepare their tax returns but we are committed to looking after our client’s interests. We seek every opportunity to save you money by identifying legally allowable deductions and expense claims and strategies by which to add value to your business.

We have extensive knowledge and experience in accounting, business and taxation practices and are well placed to assist you with a comprehensive range of services including;

Statutory compliance
Accounting services
Business structuring and entity section
Cash flow management and budget forecasting
Purchases and appraisals of businesses
Sale of businesses

Trust and Partnership Tax Returns

Many businesses operate through Partnership and Trust structures. The utilisation of these types of business entities can be quite complex. There are a number of business advantages that are available depending on the structure that is selected.

Except in certain circumstances Trusts are not taxed on their income at trust level as the income is generally distributed to trust beneficiaries who in turn report their share of income in their personal returns and pay tax on that income personally. The trust entity must account for its business operations and lodge a tax return each year.

Similarly partnerships do not pay tax at partnership level, even though a tax return must be prepared and lodge for the business operations each year. The individual partners will report their share of the partnership income in their personal returns and will be assessed for tax accordingly.

We at Carmelo Mirabile & Co ensure that our clients understand the structure that they are using along with the obligations that follow depending which structure is being used.

All too often we hear from new clients that they have been placed into a particular structure but they do not understand how it works and why they were put into it.

We take the time to make our clients familiar with the selected structure and make our client comfortable with its operation.

Take advantage of our friendly personal service and see how we can help you.

Profit from our experience.

Superannuation Fund Tax Returns

We at Carmelo Mirabile & Co. recognise how the costs of managing a Self-Managed Superannuation Fund (SMSF) have been constantly rising, consequently we endeavour to provide a cost effective solution to tax return preparation and financial reporting for Superannuation Funds.

The rules governing superannuation funds are very complex and it is important that these rules are complied with completely. Non-compliance can result in severe penalties which could result in the loss of superfund assets and financial penalties to trustees.

Compliance has become an onerous and complex task for trustees. We look to lighten the burden for you by ensuring that your superannuation returns are fully completed along with the obligatory financial reporting and associated documentation.

Superfunds must be audited each year by an approved auditor prior to the lodgement of their tax returns. We recognise the importance of independence when it comes to Superfund reporting which is why we utilise the services of independent external auditors for the obligatory annual audit of the Superannuation Fund.

Take advantage of our services so we can make a complex task simple for you.

Back Years Tax Returns

Have you fallen behind with your tax lodgement?

Whether it be your Business Activity Statement (BAS) your personal or business returns we can assist you.

Don’t ignore it!
It doesn’t go away – It only gets worse if you do.
Take the bull by the horns – call for an appointment.
We will bring you up to date giving you peace of mind again.
We can act on your behalf to negotiate with the ATO in an attempt to minimise or remit penalties and interest which may be raised.
Don’t bury your head in the sand. It’s never as bad as it may seem.