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Payroll Services

Payroll Services in the Eastern Suburbs of Sydney

There are so many good Payroll services in eastern suburbs of Sydney. This is where the office and the shop are, there are the clubs and the restaurants, and it is the home of the famous Sydney Harbour Bridge. So when you are looking for Payroll services in the eastern suburbs of Sydney, what exactly do you look out for? How much should you ask for? How much time should you be given?

The first thing that you should know is that Payroll services in eastern suburbs of Sydney are not a dime a dozen. There are plenty of places to work, but no one will hire you unless you have a good enough resume to back up your qualifications. The more experience you have, the better. It should also say where you have worked and what you have done. Most of the time if there is a specific location for your work it should also state the hours you will be working and the amount of money you will be getting.

What to Consider in Payroll Services in Eastern Suburbs

Another important consideration is what kind of income you will be getting. This can range from hourly rates through per hour, daily, weekly, and several hours per month. The more money that you receive, the more flexible you will be able to work with a payroll service provider. Some service providers will offer more time than others, so you should always look at all options before making a final decision.


Not all Payroll services in eastern suburbs of Sydney are equal. There are certain factors that will decide which payroll service is best for you. For example, what type of business are you running? How many employees do you have? How many employees will each person have? These are just some of the questions you should ask yourself before deciding on which service to use.


Many service providers in the area will have different options when it comes to pricing. They will base their pricing on what type of company they are and on the number of employees they have. The pricing can also change depending on which service you choose. However, most of the time, each service provider will charge about the same price for their services.

Benefits of Payroll Services for a Business

What types of benefits are included in the cost of your payroll service? This is one of the most important questions you should ask. Most payroll services in the area will provide a host of benefits for their clients. These benefits can include medical, dental, vision, life, and retirement plans. However, some companies may go above and beyond this to ensure you are completely satisfied with your service.

Tax Preparation and Assistance

Will your payroll service include or provide tax preparation and assistance? When you are looking for a payroll service in the Eastern Suburbs, you need to make sure that they have expert tax advisors available to help you with your income taxes. Many Eastern Suburbs area payroll services will provide their clients with both a federal tax return and a return that is filed by the state of residence. The federal tax return will help you with any income tax questions and will also help you understand the complex tax deductions you may be eligible to take. The return is essential if you are considering taking out loans, student loans, or an investment loan from the government.


How many employees does your payroll service have? This is one of the biggest questions you should be asking any payroll service you are interested in doing business with. The more employees a payroll service has, the more reliable their services will be. If a payroll service has only one employee, they will be very unreliable in regards to their services. If you are going to work with a payroll service in the Eastern Suburbs, you need to make sure that their employees have gone through thorough background checks before being put on their payroll.

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Investment Property

Getting Investment Property in the Eastern Suburbs

If you are thinking of moving to the city or are already there but want to apply for tax benefits, then consider looking into taxation services in eastern Sydney. Eastern Suburbs is one of the most sought-after suburbs to live in if you are a taxpayer. Because of the low crime rate, plenty of shopping, business opportunities, and investment property. It’s also home to the popular Sydney Casino, a major drawcard for people who are looking to move to Sydney. By choosing to live in this area you will have everything you need right in your backyard!

With so many benefits, it is no wonder that these suburbs are a favorite among property owners, investors, and buyers. With tax benefits and property incentives, you can save a lot on housing costs. Also property taxes, electricity, water, and other expenses associated with living in the suburbs. Some of the most well-known suburbs to live in include Pyrmont, Edgefield, Belmont, Rosehill, Surry Hills, Castle Hill, Bellmore, Glenfield, and Sydenham. Taxation services in Eastern Suburbs are available from a number of professional service providers who are familiar with all the areas of Eastern Suburbs. These service providers can offer their clients everything from property management to accounting, legal, and financial services.

Why Investment Property in the Eastern Suburbs?

Peaceful Environment

If you are wondering what differentiates Eastern Suburbs from the city, there are a few differences worth noting. For one, homes and businesses in the suburbs are generally smaller and more customized. You can also enjoy a more peaceful environment with plenty of greenery, parks, trees and open spaces. However, the key feature that sets the suburb apart is the amazing array of services it offers to its residents. There are taxation services in Eastern Suburbs, which provides a variety of financial, accounting, legal and management assistance to residents.

Zero Liability Basis

Most service providers operate on a zero-liability basis. Which means they don’t have to pay any damages or penalties to their clients. They also have highly qualified staff members who can help their customers with all kinds of administrative and financial matters. The professionals working at these service providers are well-versed with all the rules and regulations that govern homebuyers, investors, and business owners. They are able to make sure that their clients get the best possible deal.

Taxation Services in Eastern Suburbs

Homebuyers and investors who are looking for a property located within the jurisdiction of taxation services in Eastern Suburbs should check out properties that are listed for sale through private sales. Private sales are where agencies put their houses up for sale, without taking care of any obligations to the government. This can be a great way for first-time homebuyers. To purchase properties located within the jurisdiction of taxation services in Eastern Suburbs. This can also be a good option for homebuyers. Those who want to invest in a range of properties located within the area. By investing in a range of homes, you will be able to increase your chances of securing a low mortgage rate and capital gain.

Investors and homebuyers can also find good deals on properties located within the jurisdiction of taxation services in Eastern Suburbs by searching the internet. By using the right tools and resources, anyone can quickly find out what is on offer from various real estate agents and investors. It is also important to do some research on the background of the estate agent or broker before proceeding with any transaction. You can use the internet to search for testimonials and reviews of a particular property seller.

Investment in Property at Eastern Suburbs

Finding homes for sale that are currently being sold by RT Taxation in  Eastern Suburbs is easy. If you live in the area, then you will probably know of several individuals or businesses that are selling off their properties. Check the newspaper or pick up a free newspaper in your neighbourhood or suburb. Most of these ads will have contact information, so you can arrange to have a visit or communicate directly with the seller. You may even be lucky enough to chat to the seller face to face before purchasing the property.


Property prices in the Eastern Suburbs will definitely appreciate over time. There are always bargain properties that become highly sought after. The key is knowing how to spot these deals. Don’t get in over your head when it comes to real estate, especially when dealing with properties that are located outside of Sydney. Be prepared and you should find that it’s not too difficult getting investment property in Eastern Suburbs.

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Investment Property Loans

Investment Property Loans

What is an Investment Loan?

An investment loan can come in many different shapes and forms. Some may require a business loan to start up their brilliant new idea. Or others may see an opportunity in the share market. And look to leverage that knowledge by taking out a margin loan. However, the most common type of investment loan is a type of home loan that a person/trust/company/SMSF takes out to buy an investment property. It is a mortgage designed for those people who would like to buy a property. And rent it out as an investment, subsequently using the rental income to fund regular mortgage repayments.

How does an Investment Loan Work?

Investment loans generally operate on a similar idea to normal home loans that you would encounter if you were buying a house to live in yourself. Essentially, you buy the property, you pay a deposit. And the bank can lend you the rest of the amount required to purchase the property. You are then required to pay back the loan along with any interest charges in regular installments for the term of the loan. Simple enough right?

Investment loans can vary from this norm is that some of their approval conditions and features. For example, you may need to pay a larger deposit when compared to the total purchase price of the property. This is called the loan to valuation ratio (LVR). According to Canstar’s database, loans on investment properties tend to garner a higher interest rate on average than residential home loans.

Benefits and Disadvantages of Owning an Investment Property

There are a lot of benefits and similarly a lot of disadvantages when it comes to owning an investment property. It is important to note that you should do your own research and seek independent financial advice in-house at R T Accounting & Taxation Services to see whether owning an Investment Property is a wise move for you.


Source of Income

There are two types of investment properties. Those that are positively geared and those that are negatively geared. A positively geared property is an investment property that earns an income that is greater than the costs required for the property to be owned. A negatively geared property is one that earns a loss after costs. Investment properties have been known to provide a long-term income stream that typically increases over time.

Growth in Property Value Over Time

Historically, Australian house prices have grown. Basically speaking, it could be noted that the value of property investments has increased in that time as well. With the Australian housing market rising in demand over the last year, garnered by low-interest rates, it has never been a better time to purchase a property.

Tax Advantages

Going back to the positively geared and negatively geared properties, both types can provide tax benefits. Firstly, claiming expenses against buying and maintaining an investment property can be claimed as tax deductions to reduce your rental income generated by the property. Below are the deductions one can claim:

  • Interest on the investment loan
  • Home and contents insurance and landlord insurance
  • Property agent fees and commissions
  • Repairs and maintenance costs
  • Council rates
  • Decline in value of certain depreciating assets such as timber flooring, carpets, and curtains.
  • Construction costs (“capital works”)
  • Costs of advertising for tenants

If you are in the highest tax bracket and wish to reduce your taxable income by purchasing an investment property, it would be beneficial to negatively gear your property to have a loss and lower the tax bracket you are in. The net benefit here is that when you sell your property, you make your income from the sale of the property to make up for the years of losses.



If you negatively gear, and in some instances, positively gear properties, then it is possible to make a capital loss when you sell the property, which means you could have to pay the bank the difference between the property sale price and any leftover amount left on the loan.


With many people deciding to move back home due to COVID-19, coupled with low interest rates which has made even buying a property easier for you, vacancy rates have risen in the past year. This does not mean you mortgage repayments will stop; you will still need to pay your mortgage repayments. 


Investment properties can be beneficial to many people. However, each situation is different, so it is important to consider all other costs before deciding to invest in a property and take out an investment property loan. Get in touch with the Mortgage Lending team at R T Accounting & Taxation Services to get a tailored quote on how purchasing an investment property can be beneficial or otherwise for you.

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Payroll for your small business

How to learn about payroll for your small business

It’s time for you to start hiring some employees. Hiring your first employee is a huge accomplishment for your business! However, before you start celebrating, you need to plan for payroll, and it’s no small feat. Unfortunately, payroll is not the most exciting aspect of running a small business, but it is definitely an important part of ensuring your business goes smoothly. And it pays to get payroll right from the very start. The smallest mistakes can cost you and cause you and your employees financial stress in the long run. Wages and benefits are complicated to navigate. And you may not be too keen on the cost of outsourcing payroll, however – payroll is something you can learn, it’s just a matter of wanting to. 

What exactly is payroll?

Knowing exactly what payroll is may seem obvious, but payroll is a lot more complicated than what we think. It can quickly become confusing with all the rules, terminologies, and legislations you need to follow. Payroll involves the process of paying employees their wages and superannuation benefit. Employee wages need to be processed withholding the appropriate taxes. And secondly, payroll keeps the data and records that are kept for your employees’ wages and salaries. This also includes their leave entitlements, benefits, and other contributions. 

There are three parts to the payroll process which include: 

  1. Calculating employees’ gross salaries / wages including their overtime and special contributions. Employers need to ensure they are correctly renumerating their employees based on their correct employment status (salary, contractor, apprentice etc). All relevant taxes and other deductions are withheld from their gross pay. 
  2. Compensating employees via EFT or through cash payments. 
  3. Ensuring all records are kept for each individual and for the business. These records are needed for the Australian Taxation Office. 

Moreover, Payroll can quickly become complicated – which is the exact reason why businesses often outsource to a bookkeeper or tax accountant. 

Before you start wondering if you can do payroll yourself, we recommend it is best that you educate yourself on the process, and make a decision on whether you will do it manually or via payroll software. Regardless of the method you decide on, you will need to start gathering information – as the same information will be used for both processes. To help you make the process a bit easier, we have a helpful checklist to ensure you meet your responsibilities. Completing each step will help you be on your way to transitioning to a smooth payroll process.

1. To outsource payroll or do in-house? 

It’s is really important to understand the work that goes into your payroll, and the knowledge you need to be across when it comes to tax laws. If you have the knowledge, time and energy to dedicate to managing your payroll manually and in-house, then this solution will save you money and give you control over your payroll. If you feel that it is too overwhelming and not manageable, then it is best for you to work with a bookkeeper or your accountant. Whether you decide to do it yourself, or use a bookkeeper, we recommend you work with a simple payroll software to help you manage the process.  

2. Record gathering

When you hire a new employee, it is a requirement that you gather information for taxation purposes. This information is needed for the Australian Taxation Office. It’s helpful to complete this during the employee onboarding process. The information required includes: 

  • Employee full name, and contact details
  • Australian Tax File Number
  • Superannuation fund. If they are not part of a superannuation fund, it is helpful for you to assist in choosing a fund. 
  • The type of employment contract they are hired under. This includes whether they are full time or part time, casual, apprentice, trainee, or contractor. 
  • Salary and wage deductions.
  • If they are receiving any benefits, or allowances.
  • What leave entitlements they are eligible for. 
  • Bank details for direct EFT payment. 

3. Ensure you’re compensating correctly

It is a legal requirement to pay your employees according to the minimum award wage. To ensure that you are adhering to payroll entitlements for employees you can view the following resources:

  1. Australian national minimum wage
  2. Awards
  3. National Employment Standards (NES) 

Once you are across minimum wages, you also need to develop a payslip for your employees. You are required to supply a pay slip with information about an employee’s wage within a day of their pay. It can be in electronic form or hard copy. The Australian Fair Work Ombudsman has some great resources on their website. With their Pay and Conditions Tool (PACT) you can calculate an employee pay rate, leave, notice and redundancy and shift. The site also has information about workplace entitlements during COVID and how to JobKeeper scheme can help your business. 

Don’t forget to decide how often you will be paying your employees. Pay cycles are what works for you, and can be weekly, fortnightly or monthly. You need to commit and ensure you are paying consistently and on time, as employees rely on their wages / salaries for their own payments. 

4. Understand employee taxes

When you are processing payroll, your business needs to adhere to the Australian Taxation Office taxation obligations. Firstly, you need to register for PAYG withholding, then you need to withhold tax from your employee’s salaries. To understand how much tax you need to withhold, check out the Australian Taxation Office PAYG Taxwitholding

5. Don’t forget about superannuation contributions!

As an employer, you are required to pay superannuation contributions. An employee does have the opportunity to nominate their own fund, however you also need to identify which fund will be used as a default one if your employee does not have one, or does not provide you with the details of their nominated fund. 

6. Single Touch Payroll

Single Touch Payroll is new in Australia and is a government initiative to reduce employers’ reporting burdens to government agencies. It means that you are required to report your business payroll information to the Australian Taxation Office in real-time and with every pay-run. 

7. Understand different types of employment

You need to classify your employees correctly as employees, apprentices, trainees, and contractors are treated differently for taxation and superannuation purposes. If you make a mistake on employee’s classifications, you may receive a penalty. It can also break employer / employee trust if you are underpaying or incorrectly renumerating employees. 

8. Use technology to your advantage

If you do decide to manage your own payroll, we recommend you find a digital software as employee’s service solution that can help you automate your payroll process. Even if you work with a bookkeeper or tax accountant – it is still worth you while to utilise a software that can be accessed from different persons with different roles. 

Working with the software provider and your payroll team (or external payroll team of tax accountants) be sure to determine if the software is secure, how the systems can be accessed, how easily the software can be customised to fit your business (and how much this will additionally cost), and what kind of costing framework is in place. Is it a subscription or upfront cost? 

9. Keeping records is important!

The Australian workplace laws require you to keep complete records for all your employees for seven years – this is relevant even after they leave. This is where a payroll software solution comes in handy – it allows you to keep data and regularly save data in the cloud. 

In conclusion

There is so much to learn when it comes to learning about payroll. Whether you decide to do it in-house, manually, or with a tax partner don’t ever feel that any question is too hard. That’s why you can call us at RT Taxation & Accounting Services.  You can take advantage of our Outsourced CFO Services to leave the administrative hassle of running your small business to the experts and for you to do what you know best. We can ensure your business has all the right payroll tax documents in working order and all exemptions are correct. We want you to be ready if a payroll tax audit comes knocking on your door. Feel confident in our tax expertise and you focus on building your business.

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Payroll Outsourcing Companies

What do Payroll Outsourcing Companies do?

Payroll is one of the most integral parts of a business. However, it is also the part of the business that can become messy and stressful should you expand and have more employees. As a result, many businesses have started payroll outsourcing departments to companies such as R T Accounting & Taxation Services. Let us see how we can help improve your efficiency and keep employees happy.

What is Payroll Outsourcing?

Payroll Outsourcing is like most jobs you cannot or will not be able to do. There are specialists like us to take payroll off your hands. Like hiring a plumber if your tap is leaking. They are specialists, so it is best to let them handle what they are good at. And for you to handle your specialties.

Payroll Outsourcers can calculate your pay run cycle. As well as calculating any appropriate deductions in a timely and efficient matter. Along with this, we can also transfer pay runs into your employees’ accounts. As well as any obligations with the ATO (PAYG Withholding) and State Governments (Payroll Taxes). If you do not wish to fully outsource your payroll, that is fine as we can just do parts of the job you may not understand fully or not have the knowledge to carry out.

Why Outsource Payroll?

Payroll can be a long and arduous task for many employers, as well as there being many legal requirements and obligations, which can lead to some heavy penalties if things can go askew. Misunderstanding is not a valid excuse for getting things incorrect according to the ATO and the State Governments. For these reasons, many business owners prefer to leave it to experts such as us at R T Accounting & Taxation Services. It gives the business owner more time to spend on the actual running of their business, as well as peace of mind knowing that they are in safe hands with us.

What do Payroll Providers do?

We are capable of:

  • Calculating pay runs (including the calculations of any redundancy payments, unused holiday pay, employee reimbursements, commissions and bonuses, and any allowances, you, as an employer may have given an employee)
  • Deducting employee PAYG taxes as well as any payroll taxes based on which state and how many employees you have employed.
  • Calculating any other employer expenses such as Superannuation contributions 
  • Filing taxes with the ATO
  • Physically making payments to employees based on your pay cycle whether it be weekly, fortnightly, or monthly
  • Keeping payroll records

Types of Payroll Service

Our payroll Services can come in many forms. They can be customisable based on each client as we understand each client is different and unique. However, our services can be split into two broad categories:

Full-Service Payroll 

Basically, with the Full-Service Payroll package, we manage your payroll cycle from start to finish. Simply have each employee fill out our basic employee information sheet, TFN Declaration form, and Super Contribution form and we will take care of the rest.

Full-Service payroll is generally preferred by many larger scale entities as one entity looks after the entire set up and run through. We have our own secure cloud-based software to ensure that all data is kept secured and accessible for both the client and us the payroll provider. We will need to be kept up date with any changes to personnel, or changes to an employee’s employment terms or tax status, however that is very simple to keep a track of and we will tell you what information we require and when.

Do it yourself Payroll

Most Payroll tasks are administrative tasks that can easily be set up by the business owner. However, we can help you out with more of the technical stuff by calculating pay runs, taxes and other deductions and leaving you to do the rest.

Many small business entities prefer this as they generally do not have large turnovers in staff, which makes for a simple pay run.

Choosing a Great Quality Payroll Service Provider

Payroll is the most critical part of your business. You want employees to remain happy, so they continue to deliver the best work for you. You also will want to keep on top of any reporting obligations, so there is no hassle with your reporting come tax time. Keep this in mind when you choose R T Accounting & Taxation Services as your Payroll Service Provider.

Get Top Quality Service

With R T Accounting & Taxation Services, we are available day and night to help you and your business. We help you understand what services we provide and what you will need to handle within your business to ensure that every pay cycle can run as smoothly as possible,

Automation is key.

Our in-house payroll outsourcing experts are qualified with most Accounting Software Packages, so we can use the software you feel most comfortable with and already use. For example, it would not make sense for us to run payroll cycles via MYOB when you already use Xero.

Check Employees Details Regularly

With pay runs it is important to ensure that your employee’s details are up to date and checked regularly. We can set up reminders for you to check with your employees if they need to update their details on our system. We can give employees a deadline in which to give their information by so they can be paid correctly for the upcoming pay run. 

Secure Your Data

Many small businesses do not have the most secure systems. At R T Accounting & Taxation Services, the privacy and security of your business are our number 1 priority, we will ensure that all your information is kept in a safe manner that can only be accessible by those predetermined by us and your business.

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Tax Consultation Services

6 Reasons Why You Should Hire a Professional Tax Consultation Services

The growing need for specialized tax advice has prompted many organizations to develop their own tax consultation services, and Australia is no exception to this trend. A number of professional advisory firms offer their members a range of specialized services, including tax planning and consulting, and income tax planning and consulting. In this article, we will discuss the key advantages of hiring professional tax advisory services in Australia.

Taxation is an area of great concern for any government. Effective taxation is necessary to ensure that the tax base is maintained and improved. And by providing advice on tax matters, an expert can assist the government in its effort to properly administer the tax. Proper tax administration also plays an important role in economic growth. Experts who provide tax advice have the knowledge and expertise necessary to provide sound recommendations for tax expenditure management.

 Advantages of Hiring Professional Taxation Services

Savings and Reduce Tax Burden

Many individuals and businesses face the dilemma of undertaking new financial projects or expanding existing ones that will have a significant impact on their tax bills. Expert advice in this area is vital in assisting clients to determine the most suitable structure and type of company to protect assets and reduce their tax burden. An expert can also assist in creating a working budget that allows for tax-expenditure savings and possible reduction of tax payments. Taxation is complex and there are many laws surrounding taxation issues. This is why it is advisable to seek the help of a professional advisory firm.

Highly Experienced and Knowledge

Another key advantage of seeking professional tax services is that these experts have extensive experience and knowledge of tax matters. This experience and knowledge translate into highly effective and persuasive advice, as they are aware of the rules and regulations that govern tax affairs and how to best utilise tax expenditure to minimize income and increase income. A tax specialist will be able to assist clients in maximising their tax benefits and minimising tax liability.

Quality Taxation Services from Professional Services

When engaging the services of a professional tax consultant, it is wise to look for someone with extensive experience and knowledge in tax matters. This will ensure that the advice provided is of the highest quality and that the client receives objective and thorough guidance regarding the taxation regime. Some tax advisors may offer their clients a limited service of providing advice and incorporating a company structure. However, professional tax consultants who offer comprehensive tax planning and tax liability management will be able to deal with all matters that may arise during the course of a business’s operations. These include legal, corporate, accounting and other procedural issues.

Ensure Maximum ROI

Tax consultation is an essential component of any business venture. The proper selection of the right tax consultant will ensure maximum return on investment and minimal tax expenditure. Tax advisors can be found in a number of locations including post offices, tax consultancy companies, tax consultancies, law offices, accountancy firms, and online resources. Most advisors offer a free no-obligation consultation and provide an appraisal of your current tax situation and options available to you. A tax consultation is most effective when undertaken after the purchase or rental of a business and at least six months prior to issuing any tax-related bills.

Tax Payment Calculator

Tax consultants also offer a tax payment calculator that can be used to determine possible tax savings options. Calculating the tax expenditure for a business is not an easy task as it requires information about total revenue, tax payable, tax rate, etc. Some consultants will use internal and external information to help in the estimation of the tax liability and provide recommendations as to how to avoid any unnecessary pitfalls. They can advise on the correct procedure to take in order to minimize the tax liability and maximize the tax savings.

Accurate Advise on Tax Matters

Tax advisors have a duty of care to provide accurate advice on tax matters. It is the responsibility of the client to research the various options available to him and select the option that best suits his requirements and provides him with maximum comfort. Tax advisors must have a sound knowledge of UK tax law, in particular those areas which are subject to substantial variation, and must be conversant with the relevant laws of their client’s country of residence. It is important to ensure that the tax adviser selected by you provides good honest tax advice and helps you maximize your tax expenditure.

Help You in Many Ways

Tax advisory services | tax consultation | tax expenditure | advice | advisable} One of the most important things that you must do before hiring a tax advisor is to thoroughly check his experience. It is advisable to seek advice from people who have been in the business for many years. A tax consultant firm may be able to guide you in selecting the right person and in deciding on the amount of tax that you can afford to pay. It is advisable to take the advice of a tax consultant who has a sound knowledge of Australian tax law and laws pertaining to tax matters in other countries.

Where to Get the Best Local Taxation Services in Sydney?

There are few reputed and long-time experienced accounting and tax consultants in Sydney, Australia. RT Taxation and accounting is one of them. We are 10 years experienced and have been working as a tax consultant in Sydney. Here few of reasons to hire RT Taxation & Accounting

Why RT Taxation & Accounting?

  1. Our consultants are very well experienced in Australian taxation
  2. We are committed to reducing the tax burden of your company
  3. We help you to calculate the tax amount
  4. Provide very accurate advice and taxation services
  5. Get support from us 24/7
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Accounting Consultation Services

What Benefits Accounting Consultation Services Brings For Your Business

Accounting Consultation Service is an innovative solution to management problems. It empowers the senior management of a company to make informed financial decisions and implement those decisions within the corporate framework. The key feature of a well-established Consulting service is flexibility with a high level of access to the right people, tools, and information in order to get the best bang for your buck.

Saves Time

With an accounting consultation service you can save a significant amount of time. You won’t have to waste time trying to get the “right” accounting person. You can find them easily through the various online resources. Also, you can find out what their experience has been in the field of accounting and if they have any related academic qualifications. This is particularly important when it comes to matters such as taxation, which require very in-depth and specialized knowledge.

Saves Money

You can get the most value for your money from an accounting consultation service. You won’t be paying for expensive advertising or marketing campaigns that end up losing your business. They will focus on giving your company the most relevant and useful advice possible based on their experience and knowledge. In other words, you will be getting what you need at a price you can afford.

Outsource When You Need

Many accounting executives will recommend that you hire an outsourced accounting professional. However, there are benefits to using an outsourced service and advantages as well. Why? Because an outsourced accounting professional has the necessary skills, training, and expertise to meet your specific needs – something you as a company simply can’t do.

 What Benefits Accounting Consultation Services Brings For Your Business

Get Wide Range of Service

For example, an accounting consulting service can provide a far wider range of professional financial services than an internal accountant can provide. Outsourcing your accounting expertise to a third party allows you to: provide budgeting and risk analysis; create a risk management plan; hire a third party to handle internal accounting matters; hire a third party to perform fraud detection and audit activities; provide payroll administration; create an operational plan and track time spent on specific projects. The list goes on. And, it’s not just outsourced accounting firms that offer these additional capabilities.

Helps in Payroll Services

If you hire an outsourced accounting firm, you still get oversight of your company’s accounts. However, if you use an accounting consulting firm, they do everything for you. They develop a customized client profile, conduct interviews, provide complimentary training and even manage the entire payroll and accounting process. In other words, you don’t have to know any accounting at all in order to outsource your accounting needs to a third party. If you want to, you can spend hours every week on accounting issues.

Affordable and Attractive Package

If you’re worried that outsourcing your accounting responsibilities will cost you too much money, don’t be. A reputable accounting consulting firm will provide you with an affordable and attractive package. You can receive oversight of your company’s accounting responsibilities without worrying about whether your budget is enough to cover the cost of outsourcing. You’ll also have the peace of mind that comes with knowing that your financial data is being protected at all times – just in case something comes up.

Before you decide to outsource your duties, ask yourself why you’d want to use an outside provider. Are there significant advantages that come with hiring an outside firm? Are there challenges you’ll face? Do your research and you’ll soon find the right partner for your company.

Why Is Outsourcing Accounting Consultation Services Better?

  1. Outsourcing your accounting needs allows your business to concentrate on what you do best – build customer relationships.
  2. The company with the best outsourced accounting consulting service will be able to focus on its core services and improve its bottom line.
  3. Outsourcing is a good way to lessen employee expenses and free up resources for new projects or expansion.
  4. It also allows your accounting department to focus on generating new business rather than chasing down old leads.
  5. By delegating accounting responsibilities to a third party, you can let go of a headache-inducing job and free up your staff for more important tasks.
  6. With an outsourced accounting consultation service, you get experienced consultants who know how to deal with accountants and meet client deadlines.


Even if your company already outsources other accounting functions, you’ll still benefit from using an outside consulting firm. Since they’re working for a third-party provider, they’ll have access to company information and data. They’ll also be familiar with your company’s system, so they’ll know exactly what to do to help improve efficiency. You can expect your accounting experts to be experts in their field. They’ll have industry experience and understand the intricacies of complex accounting functions.

If you want to save time and money but are unsure about how to make the switch, ask your accountant about an accounting consultation service. You’ll be surprised at how much they can help your company. And you’ll be able to rest easy knowing that your business’s financial records are in good hands. Let your consultant’s expertise help you achieve greater results.

Get a the Best Accounting Services from RT Accounting

If you are looking forward to hiring an accounting consulting firm at affordable and attractive prices, RT Taxation would be the best choice for you. RT Accounting has been serving various industries ’ business for the last few years. We have top-notch accounting and tax consultants in-house. So, Why late? Hire RT Taxation and accounting to boost up your business.

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Accounting & Taxation Services

What does R T Accounting & Taxation Services Do?

The Accountants and Tax experts at R T Accounting & Taxation Services do more than you think. We give strategic advice and can find different methods to either save yourself or your business money and increase your income. We can also help facilitate the automation of tedious administrative tasks that take time away from your most important stakeholder – your customer. Contact us and you will be able to run your business with far more clarity and confidence.

So, what exactly do we do at R T Accounting & Taxation Services? Below is a rough guide on the services we can easily provide to you.

Help Set Up Your Business

Starting a new business, at the start may seem like a simple and easy process. You create a good idea and set off on your journey. However, many people seem to underestimate the work prior to setting up a business. You will need to know that it will make money, as well as convincing stakeholders such as potential investors and lenders the same idea. We can help you set out a clear plan on how to fully optimise your business prior to starting.

We can help test your idea, identify your start-up and operating costs as well as creating revenue forecasts to account for every possible scenario. 

Along with these key pieces of planning, we can also carry out administrative tasks in setting up your business including, but not limited to:

  • Registering your company with ASIC
  • Getting an ABN and TFN for your company

Help with Business Strategy

When starting out a new business, it can often be clustered in that it is hard to know where you should focus your attention to. We can help you understand what is important and the attention you should be giving certain aspects of your business to increase optimal efficiency.

We can work with you to set achievable personal, professional, and financial goals as well as giving you the tools to measure your progress. Quite often, many Accountants and for that matter, small business managers, have fantastic business ideas, but do not know HOW to operate a business efficiently. The experts at R T Accounting & Taxation Services not only guide you in answering the important accounting and tax queries but how you can run your business to become its best possible self. 

However, what happens when market situation dictates that sales will slow down. COVID-19 saw many profitable businesses fail simply because they ran out of cash flows at the wrong time and could not afford to pay suppliers or staff. Even if your business, deals in high frequency outputs, it will not go anywhere if your payments take too long to enter your company, or if your expenses are higher than the norm. 

We understand that revenue can differ from time to time as well as your expenditure. Also, can help you plan as best as we can for events to manage bad situations so you can continue to operate even during the worst economic periods. We can organise cash reserves and ensuring that a proper schedule is made so there is always enough cash left in your bank. This will make your pay day a lot more efficient and allow you to think more freely and focus on your business. 

Debt Management

Most businesses will have some form of debt in their lifetime. No entity starts off with $100,000 cash in the bank, to begin with. However, did you know that there is good debt and bad debt? We can help you differentiate these two key aspects of your business. We can help find you the least expensive borrowing strategies for your business, with the perfect about of principal repayments as well as the low interest garnered from a record low cash rate.

Also, has found that many businesses do not know when to pay back loans or use any residual cash to reinvest in their business. At R T Accounting & Taxation, we can help you make those key decisions to ensure that your debt levels are always manageable.

Setting Up Cloud Software

Rapid advancements in technology have made many Accounting medial tasks automated and far more efficient. One way of taking advantage of these advancements is to set up a cloud accounting software. Many of these software’s come with inbuilt sales and expense data flows directly linked with your bank accounts, as well as invoicing automation that can let you know what has been paid and what is still outstanding. Cloud Accounting Software makes BAS and Tax Reporting far simpler come due date.

At R T Accounting & Taxation Services, we not only look after your business, but also you, the individual. Below are just some of the services we provide for individuals looking to get their tax returns completed.

Tax Return Lodgement 

The main thing is that we can lodge your tax return, saving you the stress of having to fill out every detail on MyGov, a task that is tedious and time-consuming. Along with this, as registered tax agents we have an extra 7 months to lodge your tax return. The ATO and other tax practices like to scare you into believing that 31st October is the deadline date for the lodgement of your tax return. This is only true if you are completing the tax return yourself. If you are lodging through a tax agent, the deadline is extended to sometime in May depending on your history.

Traded in Shares, Forex or Cryptos?

Several clients have come to us having traded in Shares, Forex and Cryptocurrencies and did not know that you are required to report any income (losses) made through trading in these methods. Every taxpayer is required to report any capital gains earned throughout the year in their tax return, no matter how often you may have traded throughout the year. Simply send us your end of financial year statement through your broker and we will be able to calculate the rest. 

Want to calculate your gains during the year? No problem just message us and we will send you an excel template on what we need for reporting of capital gains come tax time. This process will make tax time far more efficient as well as help you identify which assets have made you gains, and which have made losses.

Residency Status

Many of our clients in the Eastern Suburbs of Sydney are Working Holiday Makers. Did you know that Working Holiday Makers have their own special tax rate? Most probably you did not. Coming to a new country is daunting, and the tax process in that new country can be even more confusing to understand. We have found that many clients were taxed at the wrong rate simply due to confusion with Australian tax laws.

We liaise with the ATO to ensure that you are taxed fairly and appropriately based on your visa status and future intentions for living in Australia or moving back. Get in contact with us to make sure you are not paying more tax than you need to.

No assignment is too big or small for us at R T Accounting & Taxation Services. Whether you are a large corporation or an individual taxpayer, get in contact with the Accounting & Tax experts at R T Accounting & Taxation Services today to optimise your earning potential.

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Outsourced CFO Services

Outsourced CFO Services: Are CFO Services Right for Your Business?

“Part-time” and “virtual CFO” are two terms often seen when searching for a full-time or virtual CFO provider. Often, though, a CFO firm will specialize in only a particular area, such as accounting, corporate finance, human resources, or banking. Another term often used is “Outsourced CFO Services” (OCFS). Many times, CFOs that outsource their services also offer consulting services. In this article, we’ll take a look at what Outsourced CFO services entail, and how they can benefit your business.

What are Outsourced CFO services?

Essentially, when a company needs to hire a full-time CFO, they’ll turn to a CFO service provider. The service provider will handle all of the recruiting, hiring, training, and payroll duties for one company. They may also handle other types of CFO services including financial planning and advice. When turning to an outsourced CFO services group, companies can save money by avoiding the additional costs associated with hiring an in-house CFO.

Can startups utilize CFO services to help them grow?

Absolutely! Many startups find that hiring a CFO makes business operations easier, particularly during the start-up phase. A CFO will also be invaluable in helping to establish a strong succession plan, especially if that startup is a small or medium-sized company.

What are some common ways to use CFO services?

 As mentioned earlier, many startup businesses turn to CFOs during their startup stage because they don’t have the expertise necessary to successfully operate their finance function on their own. By turning to a CFO service, companies can alleviate some of these challenges by ensuring that their CFO has the knowledge and expertise necessary to run their finance function. Additionally, CFOs will have established relationships with business lenders and banks that will make it easy for them to get business financing on their own. By outsourcing their CFO responsibilities to a CFO firm, startups will free up internal finance staff to handle day to day business operations.

How do I find the best of services?

 First, it’s important to understand that there are a variety of different types of CFO services that can help businesses. Different types of Cfo service providers have different strengths and capabilities. For example, some provide more superior analytics and reporting capabilities, while others offer more services like customized reports and prototype engineering.

Which services should you use?

To determine which CFO offerings to consider, ask yourself what types of analytics and reporting would improve your company’s bottom line? Would increased or improved productivity be worth the cost of hiring a CFO? Ideally, you’ll want a CFO service that offers additional value to help your business be more profitable.

What advantages do CFO services offer startups?

CFO services can provide your company with several benefits, including the ability to properly document and track financial metrics. Also, hire the right CFO, and outsource administrative functions to a CPA, all without having to provide that person as a full-time employee. These benefits can allow you to focus on running your business. And building relationships with customers instead of focusing on fulfilling administrative requirements. In addition, CFOs often provide technical support for your business in the form of support services or bookkeeping help. This added support can help your business stay streamlined and on track.


Before making the decision to outsource CFO services to a startup or large business, you’ll want to take a close look at your finances. And also assess whether or not they will be a good fit for your business. If your startup does not currently have a CFO on board, you may need to weigh the benefits provided by a full-time CFO against the cost of hiring a CFO to assist you. If you think a CFO could benefit your business, consider hiring a full-time CFA. You may be surprised at just

Where to Find Out the Best Outsourced CFO Service?

Outsourcing these services to R T Accounting & Taxation means that you and your staff can spend more time on ensuring the successful operation of your core business while remaining confident that we are achieving the best results with maximum efficiency for your business.

Our Outsourced CFO services include:

  • Company set up and management
  • Management of all or part of the accounting and finance role for local companies
  • Regular management accounting and reporting
  • Employee payroll and remuneration packaging
  • Industry benchmarking and KPI analysis
  • Working capital and cash flow management
  • Development of policies and procedures
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how to hire a tax accountant

Tips on how to hire a tax accountant

Before you know it, your annual tax return time will be here. When tax season is upon us, almost 70 percent of businesses hire a tax accountant to handle all aspects of their tax returns. Even though there is a cost involved with outsourcing to an experienced tax professional, it is very important to work with an accountant – especially when it comes to your tax return. It will save you time, and take away the stress from ensuring you are completing your taxes correctly. You won’t have to worry about mistakes, and your returns will more likely be done accurately than if you had tried to do them yourself.

In addition, not only do tax accountants offer you convenience, but they can also give you the right advice and ensure you are receiving the best possible refund from the Australian Taxation Office. The peace of mind, and understanding that working with an accountant is a necessity for your business is enough to look for an account today! 

Not everyone is familiar with tax accountants and professionals in Australia. Here in Australia, we have different three types of accountants. 
  1. Registered Tax Agents: Registered tax agents need to complete a minimum standard of hours per year studying tax law to continue to be registered to lodge tax returns. They are the best accounting professionals to help your complex tax situations. They will also represent you with you being audited by the Australian Taxation Office. 
  2. Certified Practising Accountants: A certified practising accountant is unable to lodge tax returns in their own right and is often not trained to handle diverse tax issues. 
  3. Tax Lawyers: A tax lawyer specialises in tax law, and works as solicitors. They are best used when you need to take a case before the court or when complexing a complex business tax return that has legal requirements involved. 

While all accountants are great with accounting and ledgers, not all may be able to lodge a tax return on behalf of a business and clients. They also may not be trained or have the expertise to deal with complex tax issues. The only accountants that can help you lodge your tax returns is a qualified professional tax agent or an accountant that works under the supervision of a tax agent. To ensure that you are working with a qualified tax agent, you can always ask them for their tax agent number and check their details online at the Tax Practitioners board.  

Here are our tips for finding someone you can trust with your finances and sensitive personal information.
1. Ask your peers

It’s easy to google “tax accountant” and go with the first result. But that may go pear shaped for you if you haven’t done your research. Referrals are a great way to find a trusted accountant. By asking your peers, family, friends and other business owners, you can discover valuable information such as pricing models and average costs. Your financial advisor may also be able to point you in the right direction. All businesses file taxes, so you should be able to find a wealth of names from people you know. 

It’s always good to call around to the recommended firms before you set up meetings to explore whether they have the capacity for your business and if they have the expertise for your business. Don’t forget to check out their independent reviews, assess their website and the services they provide.

2. Meet the accountant in person before hiring

You need to trust your accountant – after all, they will be working with your money and trying to find ways to maximise your tax return, so it is important to meet them before hiring or making any big decisions to get a feel of their personality and working style. It’s good to explain why you are looking for an accountant and what you want to achieve from the partnership. This will help you set expectations up front and assist the tax accountant in understanding the scope. It is also a great opportunity to make sure the tax accountant understands your taxes and tax situation. 

You should also ensure that the tax accountant is a registered tax agent through the Australian Taxation Office

3. Questions to ask a prospective tax accountant

I’ve already mentioned that you should guarantee that the tax accountant is a registered tax agent. But there are some additional questions that are helpful to ask and be comfortable with the answers before hiring a professional tax accountant. Some include:

  • What licenses and designations do you have? 
  • What kind of fee structure do you offer? 
  • Your fees and are they negotiable based on workload? 
  • How long has your practice been servicing small/medium businesses? 
  • Do you offer services outside tax filing? Will they be able to offer you business advice as well? 
  • What tax issues do you specialise in? 
  • Do you and your team personally complete all the tax filings or are you outsourcing to other externals? 
  • What are the time frames to complete a yearly tax return? 
  • How do you think you can work together with my business? 
4. It’s ok if you made a mistake on your decision

It’s reality – you may be unhappy with your chosen professional tax accountant. Also, it’s easy to think you are stuck with them forever, however, this isn’t the case. If you are not happy with your relationship or the results, you always have the chance to look around for someone else. 

In conclusion

Your tax professional should care about you, your business, and most importantly, your tax return. You need to put the effort in to build a solid relationship and keep your best interests in mind. On the other hand, your tax agent should be dedicated to helping you become financially secure, committed to providing the best and most effective tax solutions and services to your business. They should be upfront with their expectations from you, their costs, and transparent with the process required to complete your tax return. Your investment into a tax agent is a necessity for your business. 

A tax accountant service for small businesses is an important part of your company’s success. You need a firm that is reliable and there for you when an issue arises. When you choose an accountant firm for a small business, they can manage your accounting tasks and offer your business advice and support. Start your accounting firm search today, by getting in touch with us at R T Taxation & Accounting Services. You can take advantage of our Outsourced CFO Services to leave the administrative hassle of running your small business to the experts and for you to do what you know best.

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