Situations we sort out
Company tax returns that show their workings.
A company return is a reconciliation, not a form. We take the accounting profit, adjust it to taxable income with each step documented, and keep the workings — so every figure lodged can be traced back to the ledger.
A company return is tested differently from an individual one. The starting point is the accounts, and the return is the path from accounting profit to taxable income — a sequence of adjustments, each with a reason. We prepare that reconciliation in full and retain it, so when anyone asks why the two numbers differ, the answer is a document rather than a reconstruction.
The riskiest part of most company files is not the return — it is the money that moved between the company and its directors during the year. Drawings, loans, wages never formalised, private costs paid from the company account: each has specific tax consequences, and each needs to be characterised and documented properly before lodgment. We review those movements every year, as a matter of course, and put the treatment in writing.
We also read the company file against the household's returns. Directors' wages, dividends and loan movements appear on both sides, and a reviewer will check that they agree. When one practice prepares the company and the individuals together, they do. Appointments run by phone and video Australia-wide from our Brisbane base.
What we see in company files
- Returns lodged with no reconciliation retained between accounting profit and taxable income.
- Directors drawing on the company account all year, with the treatment decided at the deadline.
- Dividends paid without the resolutions and minutes to show they were ever declared.
- Company and personal returns prepared separately, telling two different stories about the same money.
What a company engagement covers
Accounting profit to taxable income
Each adjustment between the accounts and the return documented and retained, so the workings answer the question before it is asked.
Director and company money movements
Drawings, loans and repayments identified through the year, characterised correctly and papered properly before lodgment — not explained after it.
Dividends, resolutions and minutes
Declarations resolved, minuted and filed when they are made, with the franking position tracked rather than assumed.
The company and the household, reconciled
Wages, dividends and loan accounts agreeing across the company return and the directors' returns — because a reviewer reads them together.
BAS that agrees with the return
Quarterly lodgments reconciled to the ledger, so the year-end return confirms the quarters instead of contradicting them.
Structure reviewed in daylight
If the company no longer fits the business, we say so early — with the commercial reasoning documented while change is still simple.
A company return from this office lodges with its evidence — the reconciliation, the minutes and the loan documentation stay on file, so any figure can be re-derived years later without guesswork. See our method →
Common questions
What do you need from us to prepare the company return?
The accounting file, bank statements to reconcile it against, and access to the registers — minutes, loan agreements, prior returns. Documents move through our client portal rather than email. If the bookkeeping is behind or unreliable, we tell you before we start and quote the clean-up as its own stage.
I've been taking money out of the company through the year. Is that a problem?
It is a question with a right answer and several wrong ones. Money moved between a company and its directors must be characterised — wages, dividend, loan or repayment — and each carries its own tax consequences and paperwork. Handled during the year, it is routine. Discovered at lodgment, it narrows your options. We review the movements and document the treatment properly.
Do you prepare the directors' personal returns as well?
Preferably, yes. The company return and the household's returns describe the same money from two sides — wages, dividends, loan movements — and the first thing a reviewer does is check that they agree. One practice preparing both is the simplest way to make sure they do.
Our minutes and resolutions are not up to date. Does it matter?
Yes. Dividends and distributions are decisions, and decisions need to exist on paper when they are made — a resolution reconstructed later is a weaker document than one signed at the time. We review the registers as part of the engagement, bring the record up to standard where it can be, and set a routine so it stays current.
What tax rate does the company pay?
It depends on the company's circumstances — the rules distinguish between companies on tests that have to be applied to your facts, not assumed. We confirm which treatment applies each year, apply it, and note the basis in the file so the position is documented if it is ever queried.
Can you take over a company mid-year from another accountant?
Yes. With your authority we handle the agent transfer, request the prior files and workpapers, and reconcile the opening position before we rely on it. Taking over is also the right moment to test what has been carried forward — assumptions inherited from a previous accountant deserve the same scrutiny as new ones.
General information only — not tax, legal or financial advice. Advice specific to your circumstances is provided within a signed engagement.
Related reading
Speak to the person who signs the return.
Consultations are with a registered tax agent — by phone or video, wherever you are in Australia.