At DB Accounting, we are dedicated to providing you with a personalised, full suite of accounting services. With our combination of expertise, industry insight and approachable style, we are here to help advise, plan, manage and protect your interests.
Specialising in business and management accounting, individual taxation needs, as well as complex superannuation services, we go beyond the standard compliance services, by providing strategic advice and planning. We’re driven to help you grow and develop your business.
Our team offers decades of accounting, taxation and business service expertise; coupled with the agility to work quickly, sharply and alongside you, so you can relax in the knowledge that you have the best team behind your business.
We provide personalised and sincere advice, and have a reputation for forming and maintaining strong client relationships.
We service a wide range of clients from variety of industries providing personal advice.
DB Accounting is a CPA Practice
Our Business Services
Business Advice
Whether starting out in business or you are already in business, our business advice will be the key to giving you the edge that you need to succeed.
Our strong and tailored advice can include but is not limited to advice on your business system, starting or purchases an existing business, due diligence reports, structuring your business, business plan & development and plant & equipment acquisition.
We are able to help you with setting key performance indicators, risk management strategies, systems & procedure reviews, growth strategies, succession planning and advice on selling your business.
Self Managed Super Funds (SMSFs)
The Government encourages Australians to personally take responsibility for, and reach their financial retirement goals through superannuation funds. Superannuation law is a complex area and personalised approach is required for each individual. Our office specialises in SMSFs from set up to administration to retirement/pension phase.
Services we offer include:
Establishment of SMSFs, preparation of financial statements, income tax return and regulatory returns for SMSF. Advice concerning Compliance Matters, Taxation Benefits, Employer obligations, and strategies to transfer assets tax effectively into SMSF. Advice on borrowing with SMSF to acquire real estate or shares, implementing strategies to converting super fund accounts to Pension Phase and various strategies including, estate planning to minimise income tax for members and their beneficiaries.
Tax Planning Structures
We see many businesses that either over pay tax or are not claiming all the deductions available to them. Whether starting out in business or continuing, tax planning is crucial to arrange your financial affairs so as to minimise your taxes and identify areas that can do with improvement.
Budgeting & Cash Flow
Settling budgets and understanding your cash flow is vital for any successful business. DB Accounting can assist you in getting your cash flow back on track so that you can demonstrate you business’s capability to your bank and other stakeholders. We can assist with reporting for budget requirements, calculation of ratios and comparisons to industry standards.
Taxation Services
Whether you are a large corporation, or just require a basic Income tax return prepared, taxation can be a major cost to you or your business. We will work in partnership with you to minimise your tax and help you achieve your key objectives.
We provide a complete service in all of the following areas:
Preparation and lodgement of income tax returns and or financial statements for: companies, trusts, partnerships, superannuation funds and individuals. Preparation of activity statements (BAS) and advice on payment of tax, GST/FBT obligations, capital gains tax (CGT), Negative Gearing and Management of any ATO Audits or disputes.
Bookkeeping
Our bookkeeping services can help you keep your business on track while relieving you of the burden. We go beyond data entry to assistance with selecting and training on the software that best suits your business needs. We can set up your ABN, GST registration and trading name. Payroll services, employer obligation, creditor and debtor management are all part of the services we can provide.
Asset Protection
Certain industries and professionals are more susceptible to litigation than others and asset protection is an effective prevention strategy. Businesses with considerable plant and equipment or even intellectual property should speak to us about some form of asset protection to keep your assets safe from creditors.
Corporate Secretarial Services
We are able to give you piece of mind that all of your corporate compliance obligations are covered as required under the Corporations Act 2001. Our services include annual ASIC company statements, registering of a company, incorporating an association, share transfers, registered office facilities, maintaining statutory registers, change of details, preparing company resolutions and minutes and deregistering a company.
SMSF Audit
We are Registered Self-Managed Super Fund (SMSF) Auditors. Our experience has enabled us to develop a cost-effective audit approach that adds value to you throughout the process.
Documents to bring to your appointment
Clients often ask us what documents they should have in preparation for their tax appointment. One of the simplest ways to work out what to bring is to look at your previous year’s tax return. This will remind you which categories of income, deductions and tax offsets apply to you.
You need to be able to prove (or substantiate) your deductions. This usually means keeping receipts or tax invoices for the amounts you have spent. However there are some exceptions.
- If your total claim for work related deductions is under $300 you are not required to keep written evidence.
- Home office expenses can be claimed without reference to receipts or utility bills. You can claim 45 cents per hour to cover certain expenses, however you should keep a four week diary of home office as substantiation.
- You do not need written evidence to claim motor vehicle expenses using the set rate or cents per kilometre method. But don’t just invent work trips – you still need a verifiable basis for working out your claim. There are several methods for claiming car expenses but cents per kilometre usually provides the best deduction where your business related trips are infrequent.
Here are some specific examples of what you should bring to your appointment
New clients only
- Your most recent Tax Return
- Notice of Assessment
Work Related Expenses
- Use of own motor vehicle for business travel (home-work-home excluded)
- Other business travelling expenses (car parking, road tolls, accommodation)
- Purchase of protective clothing or uniforms
- Sun protection expenses
- Self-education expenses (related to your current job)
- Home office running expenses (total hours spent in home office needed)
- Telephone expenses
- Depreciation of library, tools, business equipment, percentage of home computer
- Tools of trade
- Subscriptions to trade or professional magazines
- Union membership
Other Expenses
- Donations (made to a deductible gift recipient)
- Income Protection Insurance Premiums (not claimable if policy is held in super fund)
Income
- Payment summaries for salaries and wages
- Allowances (ie. entertainment/car / travel / uniform / laundry / meals)
- Lump sum termination payments
- Government pensions and allowances
- Payment summaries for superannuation income streams or other pensions
- Payment summaries for superannuation lump sum payments
- Interest (tip: check internet banking) and dividends
- Distributions from partnerships or trusts, including managed funds)
- Details of investment assets sold, such as shares or real estate
Investment Related Expenses
- Account keeping fees
- Ongoing management fees
- Interest on borrowing to buy shares
- Advice relating to changing and managing investments (but not setting them up)
- Investment publications (e.g. financial review, magazines, not ordinary newspapers)
Additional information
- Contact details, if changed from last year
- Bank Account details for your refund (BSB, Account Number and Account Name)
- Remote zone allowance (if you lived in a remote area, not just FIFO travelled there)
- Private health cover statement
- Medical expense details if net expenses exceed $2,000 and are disability or assisted living related
- Spouse details (Date of birth, taxable income, fringe benefits, reportable super contributions)
- Dependent details, DOB and separate net income
- Any other information that you may consider relevant
Rental Properties – Key documents required
- Rental Summary from agent – or if not using an agent, your record of rent received
- Interest paid (most banks will provide a total online or on your June bank statement)
- Depreciation report from a quantity surveyor
- Repairs and maintenance (itemised list with receipts)
It is important to itemise repairs & maintenance so we can distinguish between amount that are immediately deductible and amounts that must be written off over time.
Other expenses (please summarise these), including: advertising, cleaning, gardening, pest control, council/water rates, insurance, property agent fees, printing, postage and stationery.
Contact Us
Please use our contact form if you wish to make an appointment, and we will call to confirm.
Opening Hours
Monday to Friday
9am to 5pm
or by appointment
Postal Address
DB Accounting
PO Box 450
FORRESTFIELD WA 6058
