Frequently Asked Questions
Clear Answers. Straightforward Advice.
We get it – tax, compliance and business decisions can feel overwhelming. Whether you’re running a company, managing a trust, lodging an individual return or looking after your SMSF, we’ve answered the questions we get asked most.
No fluff. No jargon. Just honest answers from a team who knows what they’re doing.
Ask Us Anything – We’re Here to Help
We know some questions feel too small to ask – or too big to Google. That’s why we’ve pulled together the most common questions we hear from our clients, from the everyday to the curly ones.
Our goal is to give you clear, honest answers – so you can make confident decisions and get on with what matters most.
Your Questions, Answered
General Accounting FAQ’s
How easy is it to switch to a new accountant?
Much easier than most people think. We’ll guide you through the handover process and communicate with your previous accountant (with your permission). You don’t need to have any awkward conversations, we’ll handle it professionally.
How do I know if we’re the right fit?
Our clients usually come to us because they want more than just a tax return. They’re looking for a team who understands their business, speaks in plain terms and cares about the bigger picture, not just ticking boxes.
If that’s what matters to you too, chances are we’ll get along well.
Do you offer monthly payments or retainers?
We do offer monthly payment options, though most of our clients prefer to pay after we’ve completed the work or following their appointment. We’ll always make sure the payment process is simple, clear and works for your situation.
What’s the best way to get started with Avoda?
It’s easy, just reach out to our office or book a time online. We’ll chat about what you need, explain how we work and make sure we’re the right fit before anything moves forward. No pressure, no hard sell, just a conversation to see if we can help.
Business Accounting FAQ’s
What’s the difference between a tax return and financial statements?
A tax return is what gets submitted to the ATO. Financial statements tell the story behind the numbers – your income, expenses, assets, liabilities and profit. They’re what help you make decisions, apply for finance and measure progress over time.
How often should I meet with my accountant?
We recommend quarterly catch-ups for most businesses. It helps you stay across your numbers, adapt to change and make decisions with real time information – not just last year’s results.
What’s the benefit of having the same team do both bookkeeping and tax?
It means less back and forth, fewer surprises and a more complete picture of your business. When your bookkeeping is managed by the same team handling your BAS and tax returns, everything flows more smoothly.
Do I need tax planning if my business is small?
Yes. Tax planning isn’t just for big businesses and can be of benefit to any business. It’s about using the rules available to you, at any size to reduce surprises, plan cashflow and make sure you’re not paying more tax than you need to.
Can you help with buying or selling a business?
Absolutely. Whether you’re preparing for sale or doing your due diligence on a purchase, we help you understand the numbers, ask the right questions and avoid expensive surprises.
Do you help with business structuring?
Yes, and we strongly recommend reviewing your structure as your business grows. The right setup can protect your assets, manage tax more effectively and give you more options as things evolve.
Individual Tax FAQ’s
Can you help with investment properties or capital gains?
Yes, we handle all aspects of property related tax, including cost base calculations, capital gains and the main residence exemption (PPR). We also help you track and document key records so your return is accurate and complete.
Do you prepare returns for sole traders?
Yes, we do prepare returns for sole traders, however we’re currently not taking on new sole trader clients. If you’re looking for someone, we’re happy to refer you to a local accountant who is taking on new clients. While we can’t personally vouch for their work, they may be a great fit for what you need.
Can you help if I’ve fallen behind on my tax returns?
Definitely. We work with clients who are years behind – no judgement here. We’ll help you get back on track, deal with the ATO if needed and put a plan in place moving forward.
I usually do my own tax online, is it worth using an accountant?
If you’ve got investments, a business or anything outside of basic employment income, it’s definitely worth having a qualified accountant prepare your return. We make sure you’re not missing deductions, claiming incorrectly or leaving yourself exposed down the track.
Self Managed Super FAQ’s
Who prepares my SMSF return and accounts?
All of our SMSF work is prepared in-house by a qualified accountant who specialises in super. We don’t outsource overseas and we take care of the return, financials and audit documentation for you.
Can you help with pension and estate planning?
Yes, we can guide you through contribution strategies, starting a pension, and planning for succession. For advice on where to invest your super, we recommend speaking to a licensed financial planner.
What are the annual compliance requirements for an SMSF?
Each year, your fund needs to lodge a tax return and have an independent audit. We handle both – preparing the financials, arranging the audit and ensuring everything is compliant and on time.
Can you help set up a new SMSF?
Yes, we can help set up your SMSF, including registering the fund, creating the trust deed and getting everything in place for compliance. However, if you’re unsure about whether an SMSF is right for you or need advice on where to invest your super, we recommend speaking with a licensed financial planner.
What records do I need to keep for my SMSF?
You’ll need to keep track of contributions, investment purchases, bank statements and any correspondence relating to the fund. We’ll guide you through exactly what records need to be kept and help you stay on top of things throughout the year.
Still have questions?
We’re always happy to chat, whether you’re unsure where to start, want to talk through your options or just need a straight answer without the jargon.
Sometimes a quick conversation is all it takes to clear things up and point you in the right direction. No pressure. No pushy sales talk. Just genuine support from a team that knows what they’re doing and cares about getting it right.