Australia’s tax system is certainly not simple. In fact, it’s one of the most complex in the world, with frequent and often daunting changes, it can be a challenge to wade through the web that is compliance.
P&Y Partner’s focus on compliance ensures that you are doing the right thing, and doing it in a transparent fashion in order to be on the right side of the law. Understanding where you need to be compliant is based upon your personal or business finance is important.
Envisage that Australia’s tax system is the soil that surrounds the web of roots created once your seed has been planted, watered, fertilised and is competently growing. But to grow to be the strongest, tallest and greenest of trees, the roots must be contained securely, covered in soil and provided with the space and opportunity to grow.
Each root represents an element of your personal or business finances, they can be as complex or as simple as required by life or business situation. If the soil is turned, has no rocks nor clay, is fed the right nutrients and nurtured, the roots can grow as needed and the plant is relatively unrestricted in its growth. You, the soil and your plant are working together to build success.
Should by any chance, the soil not be tuned and become firm or become full of rocks due to external but controllable factors, the plant suffers as the transparency and integrity of the soil prevents the root from being able to grow as required.
Though much more complex, Accounting Compliance is similar to the care for the roots of the seed or plant we are cultivating. How?
Well if we aren’t reporting on our activity and working within compliance scope regarding personal or business finances then it becomes difficult for your wealth or profitability to develop. In other words, the earth becomes firm, infertile or rocky around us and makes it difficult to grow.
P&Y Partner’s ensures that transparent and legal reporting on the right income and assets in the case of personal finances and with business compliance so that you’re on point with the more involved items such as various levy’s, SuperStream, PAYG, GST, Payroll tax and more.
Our accounting compliance and client support cut’s through the chaos that is compliance and ensures that when dealing with the Australian taxation system that you understand how compliancy works towards… building you a better future.