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Reliable Accountants in Belmore Who Understand Your Financial Goals

Staying on top of your finances is not always easy, especially when you are balancing work, family, and the demands of daily life. That is where a reliable accountant in Belmore comes in. Impact Taxation provides professional accounting services to individuals, families, and businesses throughout the Belmore area, helping you manage your money with clarity and confidence.

Belmore is a vibrant, multicultural suburb in the Canterbury-Bankstown area. It has a busy commercial strip, a thriving food scene, and a mix of long-time residents and newcomers. Many locals run small businesses in food service, retail, trades, and professional services. Impact Taxation serves this community with accounting solutions that are practical, affordable, and tailored to each client.

We are not a faceless corporation. We are a team of qualified accountants who take the time to understand your situation and deliver advice that actually helps.

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  • CPA Practice
  • Open 6 days a week
  • Conveniently located near Belmore

What Sets Impact Taxation Apart as an Accounting Firm in Belmore

Belmore residents and business owners have plenty of options when it comes to accounting firms, so why choose Impact Taxation? It comes down to three things: expertise, accessibility, and genuine care for our clients.

Our accountants are qualified professionals with deep knowledge of Australian tax law, business compliance, and financial management. We also invest in ongoing professional development to keep pace with legislative changes and industry best practices.

We make ourselves available when you need us. Whether you prefer a face-to-face meeting, a phone call, or a video consultation, we work around your schedule. And because we use cloud-based tools, you can access your financial information at any time from any device.

Most importantly, we care about your results. We measure our success by the financial outcomes we help our Belmore clients achieve, not by the number of returns we process.

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Accounting Services for the Belmore Community

Impact Taxation offers a broad range of accounting services to meet the varied needs of Belmore clients:

Bookkeeping Services Belmore

Well-maintained books are the starting point for every good financial decision. Our bookkeeping services in Belmore include transaction categorisation, bank reconciliation, accounts payable and receivable tracking, and financial reporting. We manage your books using cloud platforms like Xero and MYOB, giving you a real-time view of your financial health. For businesses, this means better cash flow visibility and fewer surprises at tax time.

BAS Agent Services Belmore

Lodging your BAS on time and accurately is a legal requirement, and getting it wrong can lead to penalties. As a registered BAS agent in Belmore, Impact Taxation prepares and submits your quarterly BAS with complete accuracy. We handle GST calculations, PAYG withholding, and instalment amounts so you can stay focused on your work and your life.

Small Business Accounting Belmore

Belmore is home to a diverse range of small businesses, from family-run restaurants and bakeries to trades and service providers. Our small business accountant Belmore service covers company registration, ABN setup, financial statement preparation, compliance lodgements, budgeting, and cash flow management.

We are especially experienced in accounting for restaurants in Belmore, understanding the unique challenges of the food industry including stock management, staff wages, and thin profit margins. We help hospitality clients streamline their finances and identify areas for improvement.

Payroll Services Belmore

Paying your staff correctly and on time is non-negotiable. Our payroll management services in Belmore cover wage calculations, superannuation contributions, Single Touch Payroll compliance, leave accruals, and end-of-year reporting. We take the administrative burden off your plate so you can concentrate on running your business.

SMSF Accounting

For Belmore residents with a Self-Managed Super Fund, Impact Taxation provides end-to-end SMSF accounting. We prepare annual financial statements, coordinate with your auditor, track member contributions, and ensure your fund complies with all regulatory requirements. Our goal is to give you peace of mind that your retirement savings are managed correctly.

Financial Planning and Business Advisory in Belmore

Beyond day-to-day compliance, Impact Taxation offers strategic financial planning and business advisory services. For business owners, this includes cash flow forecasting, profitability analysis, growth planning, and entity restructuring. For individuals, we provide guidance on property investment, capital gains management, and long-term wealth strategies.

If you are a property investor in Belmore, we help you understand the tax implications of your portfolio and identify deductions that can reduce your overall liability. Our capital gains tax planning service ensures every transaction is recorded accurately and reported correctly.

Professional, Knowledgeable and Courteous

You are in good hands!

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Other ways Impact Taxation and Financial Services can help

Tax Planning

Our Tax planning strategies are a critical tool for managing your financial health. It can help you maximize deductions, reduce the amount of taxes owed, and avoid costly penalties and interest charges.

Wealth Planning

Impact Taxations Wealth planning is an essential service for those looking to secure their financial future. We offer customers peace of mind, financial security, and the knowledge that their goals will be met in the years ahead.

We can help you save costs

We are well aware of the importance of managing one's financial resources well, which is why we'll do everything in our power to handle your income taxes accurately and save you money while giving you peace of mind.

How can we help you?

    Book a Consultation with an Accountant in Belmore

    Impact Taxation is ready to support your financial goals with professional, approachable accounting services. Contact us today to speak with an accountant in Belmore who will take the time to understand your situation and deliver real results.

    Visit our website, give us a call, or book an appointment online. We also proudly serve clients in neighbouring suburbs such as Campsie and Earlwood. We look forward to helping Belmore locals take control of their finances.

    10 things you should consider before buying a property

    Are you considering buying a property? Do you know you could miss opportunities to save thousands, or tens of thousands of dollars if you don’t plan well before the purchase?

    Below are a few key considerations:

    1. How should you set up your loan structure? If you don’t have a loan offset account for a rental property, after you make extra payments directly to the loan account, you can only claim interest deduction on the remaining balance of the loan. For tax purposes, this deductible balance can’t be changed even if you redraw the overpaid amount later. A good loan structure could also help you to stabilize interest rate and speed up loan repayment by combining a standard variable loan (with an offset account) and a fix rates account.

    2. Timing of renovation. You might want to do a renovation right after you have bought the rental property. But do you know for any genuine repair & maintenance included in the renovation, you can claim an outright deduction against the rental income when the property is available for rental? If the work is done before the date when the property is available for rental, you can only claim the deduction against future capital gain when the property is sold. Depend on when you are going to sell, it could take years or up to decades before you can claim the deduction.

    3. How should you split ownership? You might want to share the property ownership with a family member. For tax purposes, the percentage of ownership is based on the legal title, regardless of who is paying more on the mortgage. If the property will give you a tax profit, you might want to allocate more
    ownership to the low-income earner to utilize the lower marginal tax rate. If it is giving you a tax loss, you might want to allocate more ownership to the high-income earner to utilize the loss. The goal is for the family to pay minimum tax together.

    4. Should you use a family trust to purchase the property? There are many pros and cons related to a family trust. The advantages include tax savings on rental profit or capital gain, asset protection and succession planning on family wealth. However, family trust can’t distribute losses. All losses are trapped in the trust to be used to offset future trust profit. Therefore, you can’t utilize any rental loss in a trust to offset other income such as salary & wages. Family trusts also attract high accounting fees on initial setup and annual fees on financial statements and tax returns. State governments also charge much higher land tax on family trusts.

    5. Will the income level change in future years for different owners? You might want to forecast the possible income for different owners to understand total tax payment / savings related to the property. This could also impact on your decision making on point 3 and 4 above.

    6. Understand when you can treat your property as main residence to receive an exemption on capital gains tax. When eligible, even if you have received rental income, you could still treat your rental property as main residence and receive the exemption. To be eligible, you will need to treat it as your main residence at the beginning. Please check out this ATO link: Treating former home as main residence.

    7. Decide whether you need to purchase a depreciation report. Most taxpayers don’t know that the depreciation on the building will need to be added back to calculate capital gains tax when the property is sold. When the property is held for more than 12 months, after applying the capital gains tax discount of 50%, it will effectively cut the tax rate by half at the time of sales. This makes depreciation deductions desirable for high income earners. However, for low-income earners it might not be ideal to claim depreciation as a rental deduction since they could be paying more on capital gains tax in the future. It could get more complicated if the property is under joint ownership between high and low income earners.

    8. You might want to consider Centrelink payments for future or existing owners. Most Centrelink payments are income and asset tested. Before attaching a rental property to a family member who is receiving, or plan to receive government benefits, you might want to check the testing thresholds first to see if the Centrelink payment will be impacted. This is also applicable when you are making distributions from a family trust to different family members.

    9. Have you considered using your SMSF (selfmanaged super fund) to make the purchase of a rental property? There are a lot of tax saving opportunities with a SMSF since the income tax rate is only 15%. And the capital gains tax rate is effectively only 10% after factoring in the 1/3 discount. The major downside with a SMSF is normally you can’t get the money out until you retire or on compassionate grounds (SMSF does have more flexibilities compared to normal retail super fund. But the choices are still very limited). It could be expensive to set up and operate a SMSF too. There are also strict legal requirements on the trustees. Penalties on incompliance could be severe. Tax law around SMSF is very complicated too. You will need to find a good tax accountant specialized in SMSF to help you to understand the structure, also do a cost-benefit analysis before setting it up.

    10. Consider internal ownership changes. For your existing rental properties, you can also consider whether you should transfer the ownership between family members, or between different business structures (this is not applicable for SMSF). You might want to do this when the income level changes with family members, or rental property changes between tax profit and loss. Before the change, you need to consider the cost of transfer including capital gains tax, stamp duty, conveyancer fees, etc. Again, a cost-benefit analysis is a must before the change.

    Last but not the least, did you combine all the above strategies and compare your choices? If you haven’t yet, how would you know that you have picked the best strategy to minimize your taxes? We can help you to factor in all considerations, compare different scenarios, also present you with a Property Prepurchase Report with all our findings to help you to make a decision. Contact us today to book in a consultation with an experienced tax accountant!

    IMPORTANT INFORMATION
    This is general advice only and does not consider your financial circumstances, needs and objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from your financial adviser and seek tax advice from your accountant.

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