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Trusted Accountant in Beverly Hills for Personal and Business Finances

Whether you are an individual looking for help with your personal finances or a business owner seeking expert accounting support, Impact Taxation is your go-to accountant in Beverly Hills. We deliver professional, practical, and personalised accounting services that help you meet your obligations and make informed financial decisions.

Beverly Hills is a well-connected suburb in southern Sydney, situated along the railway line between Hurstville and Bankstown. The area attracts a mix of families, commuters, and local business operators. With its proximity to major roads and commercial centres, Beverly Hills has a growing small business community that needs dependable accounting support.

Impact Taxation serves this community with the same level of professionalism and attention to detail that we bring to every client relationship. We are not just number crunchers. We are financial partners who help you plan, grow, and protect your wealth.

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  • CPA Practice
  • Open 6 days a week
  • Conveniently located near Beverly Hills

Why Beverly Hills Clients Choose Impact Taxation

Selecting an accounting firm in Beverly Hills is a decision that affects your financial outcomes for years to come. Impact Taxation earns the loyalty of our clients through consistency, competence, and a client-first approach.

We assign every Beverly Hills client a dedicated accountant who becomes familiar with your financial history, your goals, and the specific challenges you face. This continuity means less time repeating yourself and more time getting actionable advice. We also maintain transparent pricing with no hidden charges, so you always know what to expect.

Our commitment to staying current with tax law changes, ATO guidelines, and industry developments ensures that our Beverly Hills clients receive up-to-date, accurate advice every time they speak with us. Meet our experienced team to learn more.

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Accounting Services for Beverly Hills Residents and Businesses

Impact Taxation provides a comprehensive range of accounting services to the Beverly Hills area:

Bookkeeping Services Beverly Hills

Maintaining clean and current books is critical for both individuals and businesses. Our bookkeeping services in Beverly Hills cover everything from daily transaction recording and bank reconciliation to accounts payable, accounts receivable, and financial reporting. We use cloud accounting tools like Xero and MYOB to give you secure, real-time access to your financial data.

BAS Preparation and GST Reporting

As a registered BAS agent in Beverly Hills, Impact Taxation ensures your Business Activity Statements are prepared accurately and submitted on time. We manage your GST obligations, PAYG withholding, and instalment calculations with precision, keeping you compliant and reducing the risk of ATO audits or penalties.

Small Business Accounting Beverly Hills

Beverly Hills is home to a diverse range of small businesses, from shops along King Georges Road to home-based enterprises and service providers. Our small business accountant Beverly Hills service supports clients at every stage, from initial company registration and ABN setup to ongoing compliance, financial reporting, and strategic planning.

We work with businesses across many sectors including trades, retail, healthcare, and hospitality. If you are a tradie based in Beverly Hills, we understand the deductions and compliance requirements specific to your industry and can help you get the most out of your finances.

Payroll Management Beverly Hills

Getting payroll right protects your business and your employees. Our payroll services in Beverly Hills handle wage processing, superannuation contributions, STP reporting, leave management, and year-end reconciliation. We ensure you meet all your Fair Work and ATO obligations while keeping your team paid accurately and on time.

SMSF Accounting Beverly Hills

If you manage a Self-Managed Super Fund, you know how important compliance is. Our SMSF accountant Beverly Hills service provides annual financial statements, audit coordination, contribution tracking, pension management, and ATO reporting. We help you stay compliant so you can focus on building your retirement savings.

Property Investment Accounting in Beverly Hills

Beverly Hills has a strong property market, and many residents hold investment properties in the area and beyond. Impact Taxation provides specialised property investor accounting services including capital gains calculations, negative gearing assessments, depreciation schedules, and rental income reporting. Our capital gains accountant Beverly Hills service ensures every transaction is properly documented and reported to minimise your tax liability within the law. You may also want to explore our property pre-purchase consultation service before your next investment.

Business Advisory and Strategic Financial Planning

Impact Taxation helps Beverly Hills business owners go beyond compliance with targeted business advisory services. We assist with cash flow forecasting, profit and loss analysis, break-even analysis, entity restructuring, and growth planning. For individuals, we offer guidance on investment strategy, retirement planning, and wealth protection through our tax planning services.

Our advisory services are designed to turn your financial data into actionable insights that help you make smarter decisions and achieve your long-term goals.

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?

    Reach Out to an Accountant in Beverly Hills

    If you are searching for a dependable accountant in Beverly Hills who provides professional service with a personal touch, Impact Taxation is here for you. Contact us today to arrange a consultation.

    Get in touch through our website, call us directly, or book online. We also serve clients in nearby suburbs including Bass Hill, Revesby, and Lansdowne. We look forward to helping you take control of your 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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