Client survey | Wilson & Assoc Chartered Accountants

Service Inclusion

Know what's included in our individual services

Individual Tax Return Service Inclusion

Salary

Personal tax return base fee covers salary income and general work expenses only. Excludes ABN income, business income including side hustle, home office, motor vehicle, rental properties, capital gains and shares and cryptocurrency investments. Click here to download a template to list work related expenses.

ABN income

Fee applies for ABN income of up to $30K.  Additional fees apply to higher income.  Please provide income and expenses summary from clients or your own accounts.

Rental income

Fee applies to each property. Please provide agent’s EOFY statement, interest and tax summary, depreciation schedule and any other related expenses.

Home office

Fee only applies if your home office deduction is more than $500.  Please click here to complete the Home Office Expense Declaration.

MV Expense

Fee only applies if MV deduction is more than $500. Please click here to complete a Motor Vehicle Expense Declaration.  Click here to download an MV logbook template.

 Cryptocurrency

Fee applies to portfolio of up to $30K in value and up to 30 transactions.  Additional fee applies for higher portfolio and larger number of transactions.  Please provide financial year statement from your trading platform.

Shares

Fee applies to portfolio up to $30K in value and up to 30 transactions.  Additional fee applies for higher portfolio and larger number of transactions.  Please provide financial year statement from your trading platform.

Introductory rebate

Also referred to as Welcoming Rebate.  Applies to the first tax year only. We reserve the right to discontinue or extend it in part or in full at our discretion.

Business Service Inclusion

 

Below are the service inclusion and bases for calculating fees, unless otherwise agreed.

Set up of a private company or discretionary trust

Services include:

  1. Perform Registration of the company
  2. Perform Registration of business name as required
  3. Perform Registration of ABN
  4. Perform Registration of TFN
  5. Perform Registration of GST as required
  6. Perform Registration of payroll withholding tax as required
  7. Perform Registration of payroll tax as required
  8. Perform Registration of FBT as required
  9. Perform Registration of Super payment with Super Clearing House
  10. Compile incorporation pack
  11. Obtain Certificate of Registration
  12. Prepare Constitution
  13. Prepare Notice of ABN registration
  14. Prepare Notice of GST registration
  15. Prepare Notice of PAYG registration
  16. Prepare Notice of TFN registration
  17. Prepare Notice of Payroll Tax registration as required
  18. Prepare Notice of FBT registration as required
  19. Draft Letter to Bank Manager
  20. Prepare Form 362 Appointment of registered ASIC Agent
  21. Draft Director’s resolution re Digital Signature
  22. Draft Members’ Resolution re Appointment of Officeholders
  23. Draft Director Resolution re Share Structure
  24. Draft Director Resolution re Issue of Shares
  25. Draft Declaration of Trust (Trust only)
  26. Draft Declaration of Company not traded (Corporate Trustee only)
  27. Draft Officeholder Consent
  28. Draft Occupier’s Consent
  29. Prepare Share Application
  30. Prepare Share Allotment Journal
  31. Issue Share Certificate
  32. Create Register of Members
  33. Prepare Share Transfer Journal
  34. Create Register of Charges
  35. Create Debentures Register
  36. Provide 3 quotes for Public Liability insurance (optional)
  37. Provide Workers insurance quote (optional)
  38. Create accounts for super fund members (SMSF only – up to 2)
  39. Roll over pre-existing super fund balance (SMSF only – optional)

 

Essential package

The package fee –

1. Starts at $3,600 per annum
2. Applies to the annual revenue estimate used for the proposal.
3. Is the minimum only and is subject to review every quarter or/and after finalising the year.
4. Increases by 1.2% of revenue for each 50K annual revenue increase
5. Fee adjustments will be applied forward only, i.e., from the quarter subsequent to the quarter under review.
6. We will notify you in writing of any adjustments.

The package includes:

1. Quarterly and year-end accounting review
2. Quarterly BAS
3. Quarterly Profit & Loss & Balance Sheet reports for income above 100K
4. Company income tax return
5. Annual accounts and tax planning
6. Simple tax planning, i.e., within the existing business and transactions structure only, including pro-rata estimate of the tax due and the optimum quarterly instalment amount.

The package excludes:
1. Bookkeeping, Payroll. See bookkeeping details below.
2. External CFO services. See details below.
3. Personal tax return. See details below.
4. ASIC annual return. See details below.
5. Xero setup, migration and subscription. See details below.
6. Complex advice exceeding 15 minutes in duration.
7. Complex tax planning, including different tax structures, strategies and simulation of the tax and financial outcomes for different scenarios as covered by External CFO Service. See details below.

Bookkeeping service

The bookkeeping service fee is a minimum fee, not a fixed fee.  It is calculated on the following bases:
2. The fee is based on an estimate of the minimum hours required per week.
3. Excess hours will be billed at the end of each quarter or the end of the financial year.
4. We will review our team’s activities with you and reach an agreement before any adjustments or billing.

Bookkeeping service includes:

1. Process weekly bank feed transactions by mid-day.
2. Match receipts to invoices and payments to payable invoices.
3. Ensure correct accounting classification and compliant tax treatment.
4. Update weekly Fixed Asset register schedules.
5. Perform quarterly Bank reconciliation to bank statements.
6. Perform quarterly Tax reconciliation.
7. Perform quarterly Director loan reconciliation.
8. Perform quarterly Fixed Asset register reconciliation.
9. Perform quarterly Activity Statement reconciliation.
10. Perform quarterly reconciliation of all other assets and liabilities.
11. Perform quarterly Balance Sheet review to identify risks and opportunities.
12. Perform quarterly and year-end accounting, including depreciation, amortisation, impairment & income tax provision.
13. Provide quarterly Account Transaction report.
14. Provide quarterly ATO Payment plan update, if applicable.
15. Provide quarterly Aged Receivables analysis.
16. Provide quarterly Aged Payable analysis.
17. Perform ongoing maintenance of Contacts, product and service items, and Chart of Accounts.

Bookkeeping service excludes:

1. Create sales quotes & receivable invoices.
2. Create purchase orders and processing suppliers’ bills / payable invoices.
3. Make bank payments and transfers to suppliers and employees.
4. Receive stock & inventory items.
5. File and store paper source documents.
6. Update employees’ payslips.
7. External CFO services.

Payroll Service

Payroll includes

1. Perform periodic pay runs
2. Process employee leaves
3. Provide quarterly pay run summary report
4. Provide quarterly payroll employee summary
5. Perform ongoing maintenance of employee details and entitlement.

HR Support

The following HR support services are available as incremental service
1. Support recruitment process and execution of employment agreements
2. Prepare employment contracts, onboarding documents and notices, including TFN declaration
3. Coordinate employee exit process, including deed of release and staff notices
1. Calculate and process severance pay in accordance with Fair Work Act 2009
2. Provide employment and income certificates on requests
3. Monitor and report impact of changes to labour law
4. Support and coordinate with MS HR re talent search, recruitment, development, retention, succession, exit and dispute resolution.
5. Facilitate payroll tax and Fair Work audits.

 

External CFO

External CFO service may include:

1. Cash & performance improvement: Optimise cash flow. Enhance performance & profit
2. Tax strategy simulation: create a model to simulate the tax outcome of various tax structures and strategies.
3. Business Planning: long-range plan, annual budget and monthly forecasts
4. Empowerment: Provide metrics & targets, reward & incentives strategy
5. Commercial viability: Develop sustainable pricing, costs & profitability.
6. Financial modelling: Visualise financial outcomes and providing strategic choices for business cases and projects.
7. Growth and transition: restructuring for growth or consolidation
8. Governance: Strengthen internal controls. Develop policies, processes and systems.

External CFO service excludes:
1. Essential services – tax and annual accounts
2. Bookkeeping & Payroll
3. Business setup, Corporate secretarial and Xero services

Unused days will be rolled over to the new financial year, except where it is offered as a complimentary service or as a bundle with the Essential Package.

 

Personal tax return

Personal tax return base fee is for salary income and general work expenses only and excludes home office, motor vehicle, property rental, capital gains and income from share and other investments.

Corporate Secretarial

Under Corporations Law and ASIC regulations, Directors are required to keep specific and timely documentation to justify accounting, tax treatment and every decision you make for your company. We help ensure compliance and prepare meticulous documentation t in accordance with the relevant legislation to ensure maximum protection for you and your business. Some of the key documents include:

1. Director resolution for Annual Financial Statements
2. Director resolution for Dividend Distribution
3. Director resolution for Director Loan
4. Director resolution for Director Remuneration
5. lodgement of Annual ASIC return. Excludes ASIC renewal fee.

 

Xero setup

Xero setup is one-time service and includes:

1. Organisation setup
2. Financial and tax setup
3. Company branding setup & customisation
4. Chart of account setup & customisation
5. Bank account & bank feed setup
6. Payroll, pay run calendar and employees setup
7. Users setup
8. Short-term cash flow and business snapshot

 

Xero migration

Xero setup is one-time service and includes:

1. 2 financial years of historical transactions
2. Open invoices & bills
3. Unreconciled Transactions
4. Bank Account Mapping
5. Chart of Accounts as per the source file
6. Contacts
7. Items
8. File fixes

 

Xero subscription

Xero subscription are at Xero pricing to save you the hassle of managing another separate service.Click here to view Xero pricing details.