Do all business structures need to finalise a tax return?
Yes. Partnerships, trusts, companies and SMSFs must finalise an annual return with the ATO.
Do partnerships pay tax directly?
No. Partnerships distribute income to partners, and each partner is taxed individually.
Do companies pay tax directly?
Yes. Companies pay tax at the applicable corporate rate.
How are trust distributions handled?
Trust income is distributed to beneficiaries, who include it in their own returns.
Do SMSFs need to finalise a return?
Yes. Every SMSF must finalise an annual return with the ATO.
Is GoTax Business cheaper than a traditional accountant?
Yes. Accountants often charge $600+; GoTax offers flat-fee certainty.
Can GoTax prepare both entity and individual returns?
Yes. Many business owners finalise both with GoTax for full compliance.
What records do I need to provide?
Income and expense records, bank statements, payroll summaries, and relevant agreements (partnership, trust deed, constitution).
Which bookkeeping software do you support?
We work with MYOB, Xero, QuickBooks and eCashBooks. We recommend eCashBooks for simplicity.
What happens if I miss the deadline?
The ATO may apply penalties. Using GoTax as your tax agent provides extensions.
Can you finalise overdue business tax returns?
Yes. We handle prior-year returns across all structures.
Are GoTax Business accountants qualified?
Yes. Our team includes Chartered Accountants and CPAs with years of experience.
Can business losses be carried forward?
Yes. They may be carried forward subject to ATO rules for each entity type.
How secure is my data with GoTax?
We’re ISO 27001:2022 certified and use encrypted, ATO-compliant systems.
Can I switch from my current accountant?
Yes. Provide last year’s records and we’ll handle the transition.
What does a partnership tax return include?
It includes the partnership entity return plus allocations to each partner’s individual return.
What does a trust tax return include?
Preparation of the trust entity return and correct distribution to beneficiaries.
How do company tax returns differ from individual returns?
Companies are taxed at the corporate rate and must report company financials, franking accounts and shareholder details.
Do SMSFs have special compliance requirements?
Yes. SMSFs must complete annual audits and returns in line with ATO rules.
Can GoTax help with GST and BAS?
Yes. While this page focuses on tax returns, we can also coordinate BAS and GST matters.
Do you assist with tax planning, not just preparation?
Yes. We can identify opportunities for timing and structure to improve outcomes.
Can I restructure from sole trader to company or trust?
Yes. We advise on structure changes and tax implications before year-end.
Do you support multiple entities or groups?
Yes. We handle consolidated groups, multi-entity arrangements and inter-entity transactions.
How do I know my return is accurate?
Every return is reviewed by a qualified accountant before finalisation.
How quickly can a business return be completed?
Most are completed in a week or two. We’ll fit your time frame.
Do you prepare financial statements for companies and trusts?
Yes. We prepare or work with your existing financial statements to ensure compliance.
How does GoTax compare to low-cost online providers?
We pair flat-fee certainty with human accountant review and ISO-certified systems — not just a form.
Do you prepare franking or dividend statements for companies?
Yes. We can prepare supporting schedules and statements as required.
What if my business had no income this year?
You generally must still finalise a return unless specifically exempt by the ATO.
Do you provide guidance on super contributions?
Yes. We can advise on deductible super contributions for business owners and partners.
What if I’ve received ATO penalties already?
We can still finalise your overdue returns and help you work with the ATO to reduce penalties.
Can you prepare prior-year financials if missing?
Yes. We can reconstruct financial records if data is incomplete.
Do you help with business exit or winding up?
Yes. We assist with final returns when closing a company, trust, or partnership.