Ever wondered why you find tax agents everywhere in the world. Well! Because there are so many kinds of taxes levied by governments, which are not supposed to be complicated, but are complicated enough for even educated people to find difficult to comprehend, creating need for specialized and trained people to interpret and help people pay their taxes to the government.
So, essentially tax agents in Sydney are those people who help us understand our taxes better, and also help us pay those taxes. However, many people do not subscribe to this idea and pay their taxes themselves, until they are fined and penalized for some errors of omission or commission.
There are so many types of taxes in daily life, that remembering their due dates, and making a provision for them is a big task in itself. Big corporates have a big team of accountants and chartered accountants to handle these issues, but for general public like you and us, tax agents in Sydney are our only hope.
How they help save money
Tax agents in Sydney are trained in all kinds of taxation during their education period. They are further trained when they work under chartered accountants and other firms dealing in taxation, making them experienced and knowledgeable in the field.
They know all the provisions in various types of taxation and also know various loop holes using which you save money. Laws are designed to make tax payers life easy and comfortable, but in practice, laws are so ambiguous that it takes time for even the best of tax agents in Sydney to understand.
Interpretation of tax laws is where you save money. Tax agents in Sydney understand that laws are meant for the benefit of people, hence they use their knowledge to interpret laws to your advantage and save your hard-earned money from going unnecessarily in government coffers.
Tax agents save you from undue harassment of tax officials
Australian tax authorities are very stringent about taxes. They want that each and every citizen of Australia should pay their taxes correctly and on time. If you miss your tax deadlines, you are required to pay a heavy penalty and you can be harassed also.
Since you could be a professional, businessman, or working in a company that allows very less time for such purposes, chances are that you miss your deadlines and are harassed by tax officials. Tax agents help you not only with your deadlines, but also help you prepare you tax and file them properly.
There can be disputes regarding your assessment of tax liability and tax officials’ assessment. These are all time consuming and very costly affairs. Most people don’t have time for such issues. Therefore, you need the services of tax agents in Sydney to represent you in such cases and get them settled.
Help you set up SMSF
Theoretically it is very easy to set up your SMSF. However, when you get down to work, there is so much of paperwork and running around, that ordinary people with little understanding of laws could take months before he can actually set it up.
Tax agents in Sydney can help you set up your SMSF with minimum of hassle. They can help you with administration, financial aspects, audit, and much more.
So, if you are involved in a litigation with Australian tax authorities, and you require a tax agent to represent you. Don’t look elsewhere, just visit the office of Stephen Cole FCPA Sydney.