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Local Accountants in Revesby Committed to Your Financial Success

Good financial management starts with having the right team behind you. Impact Taxation provides comprehensive accounting services to individuals and businesses across Revesby, delivering the kind of personal, detail-oriented support that makes a genuine difference to your bottom line.

Revesby is a well-established suburb in the Bankstown area with a strong sense of community and a solid local economy. The suburb is home to families, tradies, contractors, small business owners, and professionals, all of whom benefit from having a qualified local accountant in Revesby who understands their needs.

Impact Taxation has built its reputation on doing the fundamentals well: accurate work, clear communication, and a commitment to helping every client achieve their financial goals. Whether you need help with basic bookkeeping or complex business advisory, our Revesby accountants are ready to assist.

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

Why Revesby Residents and Businesses Trust Impact Taxation

Choosing an accountant is a big decision, and Revesby locals choose Impact Taxation because we combine technical expertise with a friendly, approachable service style. We do not believe in overcomplicating things. Our job is to make your financial life simpler, not harder.

Our accountants take the time to learn about your personal or business situation so they can provide advice that is relevant and actionable. We explain every recommendation in plain language and always give you the full picture before making any decisions.

Revesby clients also appreciate our flexibility. We offer in-person meetings, phone consultations, and video appointments so you can connect with us in whatever way suits your schedule. Our use of cloud-based accounting tools means your financial data is always up to date and within reach. Learn more about our experienced team.

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Full-Service Accounting in Revesby

Impact Taxation provides a broad range of services to the Revesby community:

Bookkeeping Services Revesby

Reliable bookkeeping underpins every other aspect of your financial management. Our bookkeeping services in Revesby include day-to-day transaction processing, bank reconciliations, accounts payable and receivable, payroll processing, and regular financial reporting. We work on Xero and MYOB to keep your records accurate, accessible, and efficient.

BAS Agent Services Revesby

As a registered BAS agent in Revesby, Impact Taxation prepares and lodges your quarterly Business Activity Statements accurately and on time. We handle GST calculations, PAYG withholding, and instalment reporting so you can focus on your work without worrying about compliance deadlines.

Small Business Accounting Revesby

Revesby has a thriving small business community, particularly in the trades, construction, and service sectors. Our small business accountant Revesby service covers company registration, ABN and GST setup, financial statement preparation, budgeting, compliance reporting, and ongoing advisory support.

We have extensive experience in accounting for contractors in Revesby, helping sole traders and subcontractors manage irregular income, track project costs, and claim all eligible deductions. Our knowledge of the trades industry means we understand the unique financial pressures you face and can provide solutions that actually work.

Payroll Services Revesby

If your business has employees, accurate payroll management is non-negotiable. Our payroll services in Revesby cover wage calculation, superannuation processing, Single Touch Payroll compliance, leave tracking, and year-end reporting. We handle the complexity so your team gets paid correctly every time.

SMSF Accounting Revesby

Managing a Self-Managed Super Fund requires careful compliance and detailed reporting. Our SMSF accountant Revesby service includes annual financial statement preparation, audit coordination, member contribution monitoring, pension calculations, and full ATO compliance reporting. We give you confidence that your fund is in good hands.

Business Advisory and Financial Planning for Revesby Clients

Impact Taxation provides strategic advisory services to Revesby clients who want to take their finances to the next level. For businesses, this includes cash flow forecasting, profit and loss analysis, entity structuring, and growth planning. For individuals, we offer guidance on property investment, capital gains management, and retirement planning through our tax planning services.

Revesby has a healthy property market, and many residents hold investment properties in the area and throughout Greater Sydney. Our property investor accountant Revesby service helps you optimise your portfolio with accurate capital gains reporting, depreciation scheduling, and negative gearing analysis. Consider our property pre-purchase consultation before your next purchase.

Cloud Accounting for Revesby Clients

We use cloud accounting platforms to give our Revesby clients a modern, efficient experience. Whether you prefer Xero or MYOB, we set up, migrate, and manage your cloud accounting so your financial records are always organised and secure. Cloud access means you can review your books, approve transactions, and collaborate with our team from anywhere, at any time.

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?

    Contact an Accountant in Revesby Today

    If you are looking for a knowledgeable, approachable accountant in Revesby, Impact Taxation is here to help. Contact us today to schedule a consultation and discover how we can support your financial goals.

    Reach us through our website, by phone, or by booking online. We also proudly serve clients in neighbouring suburbs such as Bass Hill and Beverly Hills. We look forward to welcoming you as a valued client.

    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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