Chartered Accountants since 1979

Specialists in small business, self-managed superannuation funds and taxation with our clients involved in a
wide spectrum of professional activities and industries.

Business Advisory
and Accounting

Business Advisory & Accounting

Business advice is a key component of the services provided at Barassi & Co. Our expertise extends through the entire life cycle of business, from formation, running and managing operations, growth and expansion to the eventual sale, closure or succession

SEE LIST OF BUSINESS SERVICES HERE

Company and Personal Tax Accountants

Tax Accountants

A pillar of the services offered at Barassi & Co is our taxation advice and compliance function.

We provide advice on a variety of direct and indirect taxes, including income tax, GST, PAYG, capital gains tax, fringe benefits tax, stamp duty and payroll tax.

SEE LIST OF BUSINESS SERVICES HERE

Self Managed
Superannuation Funds

SMSF

Over recent years we have witnessed a significant rise in popularity of Self-Managed Superannuation Funds (SMSF’s) as superannuation has become a vital part of any retirement strategy. The expertise gained over many years of working with SMSF’s can be combined with our working knowledge of our client’s circumstances to implement the most appropriate structure for their needs.

SEE LIST OF BUSINESS SERVICES HERE

Looking for expert accounting advice?  Our team of experienced professionals are here to help you.

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Latest News

  • Budget Word on Wood Block on Top of Coins Stack With Black Background.

Federal Budget 2019

April 3rd, 2019|0 Comments

The Treasurer Josh Frydenberg’s first budget has lots of goodies with few “baddies”. This was to be expected with the next federal election only weeks away and the Coalition Government trying to make up ground in the polls.

The Treasurer’s “wow” factor was a return to a budget surplus of $7.1 billion for the 2019-20 fiscal year.

Without increasing taxes, the Coalition Government, if re-elected, promises to deliver on a mix of benefits for a majority of taxpayers in Australia.  These include:

Personal income tax cuts through adjusting upwards the thresholds at which the current tax rates apply (from 1 July 2022 to 30 June 2024) and then, finally, in the income year ending 30 June 2025, having only three rates of tax, with the highest marginal rate (45%) commencing at $200,000.
Increasing the Low and middle income tax offset to a maximum offset of $1,080 for the years ending 30 June 2019, 2020, 2021 and 2022.
Increasing the instant asset write-off threshold from $25,000 to $30,000 and extending this so that businesses with a turnover of between $50 million and $10 million can also access the concession.  This will apply from Budget night until 30 June 2020.

Apart from the above, the budget was quite “light” on tax and superannuation changes.  The government, no doubt, is trying to make itself a small target in relation to the coming election.

Also note that proposed changes to Division 7A will be deferred from 1 July 2019 to 1 July 2020, and that there are some useful changes to superannuation that will benefit older pre-retirees.

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  • http://www.dreamstime.com/royalty-free-stock-image-image83074956

Regulatory Roundup – March 2019

March 13th, 2019|0 Comments

Remember that a fuel tax credit increase has just gone through

Fuel tax credit rates are indexed twice a year, in February and August, in line with the consumer price index (CPI). Also these rates change regularly, so it’s important to check when you are preparing for us to complete an activity statement for you.

See this ATO webpage for the rates that apply from 4 February to 30 June 2019. (Past rates are also displayed there, just scroll down.)

If you claim less than $10,000 in fuel tax credits each year, you can use any of the following simplified methods that best suits your needs. […]

What our clients say about us

“Barassi & Co have been our accountants and business advisors for over 15 years. They have a detailed understanding of our business and been particularly astute in integrating our business and personal affairs, including setting up our SMSF.

The growth and success of our business has been due in large part to their excellent support for strategic planning, timely service and ethical taxation advice. We always recommended Barassi & Co to our friends and business associates and they too have been most happy with the advice and level of service they have received. “

Richard Osborn and Susan Sloan, Directors, , Osborn Sloan & Associates Pty Ltd
“We have enjoyed a long term trusting relationship with Barassi & Co since 1998. Adam has a great understanding of our business and personal affairs and the ever changing short and long term goals.

Adam has always provided us with the necessary accounting and business advice in a format and language that we understand. Adam’s advice during a recent sale of a group of our business assisted us in legitimately reducing our income tax and increasing our income.

For any business to succeed they must surround themselves with the right consultants and professionals and we are glad to have the team of Barassi & Co as part of our integral professional team. It is reassuring to hear our other professional partners praise and complement Adam on his professionalism and thoroughness in their dealings with him regarding our business and personal accounting affairs. In addition to being a highly professional accounting firm, the team at Barassi & Co are genuine, approachable and really friendly people.

Martin Catania, Director, Tinusca Group of Companies
“As a healthcare professional, I know these words “Professional, Ethical & Trustworthy” are uppermost in my patient’s mind when they come to see me. When I seek professional help, these values are my guide to assess the quality of the relationship. I have been receiving accounting advice from Barassi & Co for over 30 years and they have demonstrated their capacity to deliver quality service over this time.

Continuity of care is important in my profession and maintaining a long-term relationship with a commitment to look after my best interests, is invaluable to allow me to do what I do best – look after my patients.

Word-of-mouth referrals are the lifeblood of my practice and I have no hesitation in recommending Barassi & Co, as I know they will deliver their advice in a professional, ethical and trustworthy manner.”

Richard Vojlay, Director, Vision Camberwell Pty. Limited
“The team at Barassi & Co has been assisting Immediacy for several years now and we find them to be responsive, helpful and up to date with the latest taxation information.

Our business has benefitted from their insight and desire to assist their clients with the practical and strategic advice.”

Linda Marshall, Director of Immediacy Pty. Limited
“Blockout Blinds have been using the services of Barassi & Co for over 10 years now.

What impresses me is their availability when a crisis arises that needs immediate action or advice.  They are always quick to respond and help me out.  Also, having someone to communicate effectively and efficiently on my behalf with the authorities such as WorkCover and the ATO, allows me to concentrate on growing the business and helps me sleep at night knowing that everything is being handled correctly and complying with the most current laws and regulations.

Barassi & Co have helped me through many situations over the years and my business would not be what it is today without their involvement.”

Jason Graham, Director, Blockout Blinds Pty. Limited