Annual Company Tax Return

Our team of tax accountants can assist you with the preparation and lodgement of your annual Company Tax Returns. Financial statements are crucial in this process as they ensure compliance with regulatory requirements and maintain accurate financial records.

GET STARTED

Awards & recognitions

Who Can Lodge Company Tax Returns?

You can either lodge your company tax return directly with the ATO or with a registered tax accountant. The Tax Practitioners Board authorises Registered tax agents and BAS agents to prepare and lodge tax returns on behalf of their clients.

Using a tax professional can help ensure your company tax return is accurately prepared and lodged on time. Tax agents thoroughly understand tax planning and can advise on how to maximise your return.

When are Company Tax Returns Due?

If you submit your company tax return directly to the ATO without any prior year returns overdue, the due date for all 30 June balancing companies is 28 February or 15 May the following year. However, it is important to note that failure to lodge on time can result in penalties from the ATO.

If you have overdue prior year returns, the due date will be 31 October of the same year. The ATO requires company tax returns to be lodged promptly and will impose late lodgement penalties if deadlines are not met.

Lodgements with registered tax agents with good on-time lodgement track records are offered later than the initial deadline for company tax return lodgement dates. A professional tax agent can provide more time to accurately prepare your company tax return.

Why Get a Registered Tax Agent to Lodge Your Company Tax Return?

Box Advisory Services are registered tax accountants (Registration: 25452828) with over 13 years of company tax return experience.

Our expert team maintains the latest tax laws and ATO requirements, ensuring your company tax return is prepared correctly and on time.

We offer our clients a special lodgement program arranged with the ATO that affords a later company tax return due date. This provides extra time to gather information and review your company tax return while avoiding late lodgement penalties.

With decades of combined experience, our tax accountants can uncover tax deductions and strategies to minimise your tax liability within the law. We provide personalised tax planning and advice tailored to your unique business situation.

GET STARTED

Frequently Asked Questions

Completing a company tax return involves gathering all relevant financial documents, calculating total taxable income and expenses, determining tax deductions and credits, and filling out the right ATO forms. Key steps include:

  • Collect financial year records like profit and loss statements, bank statements, invoices, PAYG summaries, depreciation schedules, financial statements, etc.
  • Calculate total income, including sales revenue, interest, dividends, capital gains, etc.
  • Identify all tax information like deductible expenses related to earning assessable income.
  • Determine eligibility for rebates, offsets, franking credits, etc., that can reduce tax payable.
  • Use accounting software or ATO templates to fill out the company tax return form.
  • Review with a tax agent or accountant to maximise lawful deductions and minimise tax obligations.
  • Lodge the completed company tax return with the ATO by the due date.

Keeping organised records and using the expertise of tax professionals can help ensure your company tax return is accurately completed and on time.

The amount of tax a company pays depends on the business structure and taxable income. The current Australian company tax rate is 25% for businesses with less than $50 million in aggregated turnover. For larger companies with over $50 million turnover, the full tax rate is 30%. 

Additional taxes may include GST, FBT, PAYG withholding, etc. The effective tax rate can be reduced through tax deductions, offsets, rebates and other strategies.

To lodge your company tax return with the ATO:

  1. Gather all required documents and financial information to complete your tax return.
  2. Prepare the company tax return form either manually or using accounting software. Ensure all income, expenses, deductions, etc. are included accurately.
  3. Review the completed tax return with a tax agent or accountant if required.
  4. Log into the Business Portal on the ATO website and select Lodge Return under Taxation Tasks.
  5. Follow the step-by-step instructions to lodge your company tax return electronically.
  6. Pay any outstanding tax liability by the due date to avoid late payment penalties.
  7. Keep a copy of your lodged return along with supporting documents for your records.

Using a registered tax agent provides extra time to lodge and offers advice to maximise deductions and get your best possible tax outcome.

Australian business tax refers to the taxes a company or enterprise must pay when operating in Australia. The main business taxes include:

  • Company Tax – Tax on business and investment income based on taxable income. The rate is either 25% or 30% depending on turnover
  • GST – 10% Goods and Services Tax applied to most sales and purchases
  • PAYG Withholding – Tax withheld from employee wages and remitted to the ATO
  • FBT – Tax on fringe benefits provided to employees
  • Payroll Tax – State tax on total employee wages above a threshold
  • Land Tax – State tax on the ownership of land
  • Stamp Duty – State tax applied to property transfers and some insurance policies
  • Excise Duty – Federal tax on alcohol, tobacco and petroleum
  • Customs Duty – Federal tax on imported goods

Level Up Your Knowledge Further

  • Long Service Levy NSW – What Does It All Mean?

  • The Due Date for BAS Statements in Australia

  • Understanding the Company Tax Rate in Australia

  • Pty Ltd Meaning & Benefits: What You Need to Know

  • What Happens During an ATO Audit?

  • How Much Tax Will I Get Back? Estimate Your Tax Return for EOFY

Trusted by 10,000 Australian business owners

“A big thanks to Davie and the team for making the transition so easy.”

I run a small contracting business and have started using Boxas for my company and personal accounting. A big thanks to Davie and the team for making the transition so easy. Sean Yee in particular has been incredibly helpful starting from the first Zoom meeting we had. I've been very impressed with Sean's ability and willingness to help. 2
testimonial icon
Edgar P

“I couldn’t be happier with the results. Five stars, hands down!”

I highly recommend Box Advisory Services to anyone looking for top-notch accounting services for their business. The team of at Box are genuinely outstanding, providing personalised and expert advice at every turn. Their approach to accounting is a game changer, making it easy for anyone to engage and understand the numbers behind their business. The level of care and attention I received was exceptional, and I couldn't be happier with the results. Five stars, hands down.
testimonial icon
Michael Dean

“Sean, Davie, Molly and team have all been incredible!”

Sean, Davie, Molly and team have all been incredible! I signed up with Box Advisory Services 4 months ago and I can honestly say that it was one of the best business decisions I have made for my construction business. Their knowledge combined with their customer service are second to none. I would highly recommend them to anyone that is looking for an accountant.
testimonial icon
Patrick

“Very approachable and knowledgeable. Highly recommended!”

I found Box Advisory Services from their director Davie Mach's YouTube channel which provides lots of valuable information on taxation for business owners like me. Have been engaging with them for a year. Very happy about their professional advice especially from Mr Sean Yee who is very approachable and knowledgeable. Highly recommended.
testimonial icon
Owen C

“I cannot recommend Davie and his team highly enough”

I cannot recommend Davie and his team highly enough. From the moment we started working together, their approachability, dedication, and expertise were evident. They've demystified complex accounting issues, offering solutions that are both practical and efficient. Their friendly and helpful service truly stands out. For anyone looking for reliable and knowledgeable accounting support, Davie and his team are the go-to professionals!
testimonial icon
Alex Ip

“Will definately be using Box Advisory services again!”

Had the pleasure of having a consultation with Sean Yee and it was pleasant to know after many different consultants and advisors that Sean was able to provide honest and truthful feedback above and beyond our expectations. Will definately be using Box Advisory services again
testimonial icon
Nicholas Lao

“Exceeded my expectations!”

I have had the pleasure of working with Davie Mach as my accountant and I must say, he has exceeded my expectations. His professionalism and attention to detail have made the financial aspect of my business seamless and stress-free. Davie always goes above and beyond to ensure that I understand all of my financial statements and makes sure that I am fully informed of any important financial decisions that need to be made. He is always available to answer any questions I have and provides clear concise advice. I highly recommend Davie to anyone looking for an exceptional accountant who truly cares about their client's success.
testimonial icon
Rami Alcheik

“Highly recommend Box Advisory Services”

Box Advisory Services really understands how small business work and operate. Davie is a very professional accountant and one of the best in the game. He made accounting easy to understand and I trust him to handle all my businesses. Highly recommend Box Advisory Services for anyone who looking to grow their business.
testimonial icon
Paul Lin

“Davie and the Box Advisory team are incredible!!!”

Davie has helped me from feeling totally out of control with my personal financing no more than a year ago to getting everything in order for me to purchase a property this year. He has taught me so much and always has my best interest at heart!! It's great having him helping me with my personal finances and for my small business! Couldn't recommend this team more highly!
testimonial icon
Barton Tanner

“I would definitely recommend their services!”

I have just signed up with Box advisory services accountants and am very happy with their services. Sean Yee is very responsive and knowledgeable. He's very patient and has an awesome insight in accounts, software and financial statements. He is always happy to help me when I need help. His advice is helpful and meets you where you are in terms of sophistication. He simplifies everything so I am able to understand and goes the extra mile to make sure I understand. I would definitely recommend their services!
testimonial icon
Dj Mauza