The Australian Taxation system is a complex and structured system that must be complied with by all business entities and individuals. This system includes income tax, company tax, superannuation tax, payrolltax, capital gains tax, fringe benefits tax, goods and services tax, PAYG withholding tax, PAYG instalment tax and may also extend to other measures such as stamp duties, customs duties and increasingly, Centrelink matters.

The team at MBO Financial Group have a vast array of experience in all of the above issues and are equipped to not only provide answers to our clients' queries but more importantly we proactively advise our clients on the most suitable way to manage their taxation and Centrelink affairs.

There are numerous ways in which MBO Financial group assist their clients with their taxation affairs including the following:

• Provision of Advice – MBO Accountants are required by our professional association to obtain a significant number of hours training each year. We attend formal seminars, webinars, and workshops and undertake a significant amount of tax related reading. This ensures that we are abreast of the latest taxation issues that have or may affect our clients. We then use this knowledge to answer any clients’ queries, but more importantly it enables us to bring the matters to our clients’ attention, even before the matter arises.
   
• Computerisation – For those who want or need to computerise their accounting systems, we can analyse your business systems to determine the most suitable accounting package available to meet the needs of your business. We can set up the system for you or guide you through the process on a step by step basis. We then monitor your usage of the program and advise you on any matters requiring your attention.
   
• BankLink – For those that are too busy within their business or who don’t have the skills to computerise their business records, we have a system called "Banklink". Through Banklink, we electronically obtain your bank statements and credit card transactions directly from your bank. We then email/fax you a simple report to complete every month and from this we are able to complete your BAS and partially prepare your financial statements at year end. It is a "no hassles" system that many clients like.
   
• Periodical accounting – Many clients require financial statements more regularly than once per year. At MBO Financial Group we are able to prepare monthly, quarterly and other periodical financial statements to enable you to more effectively "manage" your business, rather than just using your financial statements "because you need them for tax". Your financial statements can have comparative details and other key indicators.
   
• Key Performance Indicators/Benchmarks – MBO Financial Group have access to the latest Benchmarks for a significant number of industries. MBO Financial Group uses these benchmarks to analyse your business performance against similar industries and also your business from one year to the next. This allows us to advise you on matters that need to be addressed and we advise you on how to go about implementing the changes required.
   
• End of year tax planning - MBO Financial Group utilises our clients' periodical financial data to determine a business’ profitability for that period. In conjunction with our clients, we then estimate the business’ profitability for the balance of the financial year. This is used to estimate a client’s end of year tax liability and, if necessary, we can implement methods to minimise tax or defer the tax to later years.
   
• Visiting clients’ premises – Many clients don’t have the time or are unable to visit our office. Therefore our accountants regularly travel to see our clients at their premises. This also enables us to gain a better understanding of exactly how the client operates and enables us to see their working environment.
   
• Seminars and workshops – MBO Financial Group can provide training to small business clients and/or their staff. We do this by one on one training, small workshops in our boardroom or at the clients premises. We also offer larger seminar style presentations where broader issues affecting our client's are addressed.