Business Tax, BAS, and Bookkeeping in Sydney

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Introduction to Business Accounting and Tax in Australia

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Running a business in Australia comes with opportunities and challenges. Whether you are a sole trader, company director, or not-for-profit manager, keeping your accounts in order is essential. Accurate accounting ensures compliance with the Australian Taxation Office (ATO), helps you track cash flow, and supports business growth.

For more than two decades, Trinity Accounting Practice has supported individuals and businesses across Sydney with professional accounting, taxation, and bookkeeping services. Established in August 2003, the firm understands the pressures that business owners face. From meeting tax deadlines to managing payroll, every detail matters.

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This guide brings together the most important areas of accounting and tax for Australian businesses. The service covers tax return preparation, BAS and GST compliance, payroll, bookkeeping, and industry-specific solutions. Each section is designed to help business owners make informed decisions and stay on top of their obligations.

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Finding the Right Accountant

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Accountants Near Me

When people search “accountants near me,” they are usually looking for a trusted local expert. Location is important, but expertise is what delivers results.

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Business Tax Services

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Business tax services cover much more than preparing and lodging annual returns. They include:

• Structuring your business for tax efficiency
• Preparing company, trust, or partnership tax returns
• Lodging BAS and GST reports
• Managing payroll tax and superannuation
• Planning for upcoming tax changes

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Tax Accounting Explained

Tax accounting focuses specifically on managing obligations with the ATO. Unlike general accounting, it ensures that income, expenses, and deductions are recorded correctly for compliance and tax efficiency.

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Managing BAS and GST Obligations

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What is BAS?

A Business Activity Statement (BAS) reports GST, PAYG withholding and other tax obligations. Most businesses lodge quarterly, but some do it monthly.

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Registering for GST

Businesses with a turnover above $75,000 must register for GST. Once registered, they charge GST on sales, lodge BAS, and claim GST credits.

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BAS Preparation and Lodgement

Accurate bookkeeping is essential for BAS. Reconciling accounts, calculating GST, and ensuring payroll accuracy prevents ATO penalties and keeps cash flow stable.

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Weekly Tax Table and Payroll Compliance

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Weekly Tax Table Explained

The ATO’s weekly tax table guides employers on how much tax to withhold from wages. Using it correctly avoids under- or over-withholding.

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Payroll Setup and Management

Payroll covers STP reporting, superannuation, leave entitlements, and PAYG withholding. Proper setup prevents compliance risks.

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Catch-Up Bookkeeping and Payroll Corrections

Businesses often fall behind on records. Catch-up services fix reconciliations, correct payroll, and ensure past BAS lodgements are accurate.

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Choosing the Right Accounting Software

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Xero vs QuickBooks

Both platforms simplify invoicing and bookkeeping. Xero is known for integrations and support in Australia, while QuickBooks is cost-effective for microbusinesses.

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QuickBooks vs Xero

Small businesses often compare features of both systems to decide which matches their workflow and budget.

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MYOB, Xero, and Cloud Accounting

Cloud systems provide real-time access, easier collaboration, and automated bank feeds, helping business owners stay on top of finances.

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Industry-Specific Accounting and Bookkeeping

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Construction Bookkeeping

Covers project costs, progress claims, payroll for contractors, and GST compliance.

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Trades Bookkeeping

Focuses on invoicing, expense tracking, and payroll for electricians, plumbers, and carpenters.

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Childcare and Education Accounting

Includes payroll, BAS, and ACNC reporting for childcare centres and schools.

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Pharmacy and Medical Accounting

Covers payroll, stock management, supplier payments, and compliance with health and tax regulations.

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Not-for-Profit Bookkeeping

Includes grant reporting, donor tracking, GST, and ACNC compliance.

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NDIS Provider Accounting

Support payroll, GST and compliance for disability service providers.

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Business Tax Preparation and Consulting

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Business Tax Preparation Process

Explains how companies, trusts and partnerships prepare and lodge returns with the ATO.

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New Business Tax Consulting

Startups benefit from structured advice, ABN registration, GST setup, and record-keeping systems.

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Tax Planning Strategies

Small businesses reduce liability through expense timing, depreciation, and superannuation contributions.

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Ongoing Bookkeeping and Compliance

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How Often Should I Do My Bookkeeping?

Monthly bookkeeping avoids errors, keeps BAS on track, and reduces end-of-year stress.

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Outsourced Bookkeeping vs In-House

Outsourcing gives access to experts and compliance support, while in-house is suitable for simpler businesses.

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Virtual Consultations and Cloud Bookkeeping

Online services allow businesses across Australia to work with accountants without travel.

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Frequently Asked Questions

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Do You Offer Weekend and After-Hours Appointments?

Yes, we provide weekend and after-hours appointments by request.

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Can You Help With ASIC and Company Compliance?

Yes, we manage ASIC reporting, company registrations, and compliance requirements.

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Do You Provide Bookkeeping for Small Trades and Contractors?

Yes, we provide tailored bookkeeping and tax services for tradies and contractors.

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How Do I Choose Between Xero, QuickBooks, and MYOB?

The choice depends on your business size, complexity, and industry. We provide advice and setup support.

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Can You Assist Businesses Outside Sydney?

Yes, we provide online consultations and cloud accounting services across Australia.

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Why Work With a Professional Accountant

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Local Expertise in Sydney and Beverly Hills, NSW

Trinity Accounting Practice provides professional tax and accounting services for local businesses.

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Over 22 Years of Experience

Established in 2003, our firm has been serving clients for more than two decades.

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Tailored Services for Every Industry

We specialise in construction, trades, childcare, medical, pharmacy, gyms, and not-for-profit organisations.

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Flexible Appointments

Weekend and after-hours consultations are available to suit busy business owners.

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Call to Action

For tailored tax, bookkeeping, and business advisory support, contact Trinity Accounting Practice today.

☎️ 02 9543 6804
📍 159 Stoney Creek Road Beverly Hills NSW 2209
🌐 www.trinitygroup.com.au
📅 Weekend & after-hours appointments available
📅 Booking Link: https://calendly.com/ramy-hanna

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🌐 Our Virtual CFO division, VCFO Australia, provides strategic financial management, budgeting,forecasting, and compliance support for growing businesses andnot-for-profits: https://www.vcfoaus.au/

📌 Learn more about whatwe offer:
https://www.trinitygroup.com.au/services

📌 Discover the industries we specialise in:
https://www.trinitygroup.com.au/niches

📌 Read more tax andaccounting tips on our blog:
https://www.trinitygroup.com.au/explore-learn

📌 Our mortgage brokeragedivision, Nexus Wealth Partners Pty Ltd,helps clients with home loans, refinancing, and business finance
https://nexuswealth.au/