Welcome to the outsourcing of accounting services page for Bill Accounting! We are a division of Zencraft Consultancy Pvt Ltd, and we specialize in providing outsourced accounting, taxation, and compliance services to clients in the USA, UK, Canada, UAE, Singapore, and Australia.
The Australian accounting system is unique in a number of ways. One key difference is the use of International Financial Reporting Standards (IFRS), which were created by the International Accounting Standards Board as a set of accounting guidelines (IASB). In addition to IFRS, Australian businesses also need to comply with Australian Accounting Standards (AAS) and Australian Securities and Investments Commission (ASIC) requirements. Australia has a progressive income tax system, with tax rates increasing as income levels rise. The corporate tax rate in Australia is currently 30% for companies with an annual turnover of less than AUD 50 million.
The Goods and Services Tax (GST) in Australia is a value-added tax that applies to Australia sells or uses the majority of goods and services. Companies having annual sales of more than AUD 75,000 must register for GST and charge GST on the majority of products and services sales. Now that you are more knowledgeable about the unique features of the Australian accounting system, let's discuss the advantages of outsourcing your accounting services to Bill Accounting. One of the main advantages is cost savings. By partnering with us, you can significantly reduce your overhead costs while still receiving high-quality financial reporting and analysis.
In addition to cost savings, outsourcing your accounting services to Bill Accounting can also help you benefit from our team's expertise and experience. Our professionals are highly trained and have a deep understanding of the latest accounting practices and regulations in Australia. By entrusting your accounting needs to us, you can be confident that your financial reporting is accurate and compliant with Australian laws and standards. Outsourcing your accounting services to Bill Accounting can also help you free up time and resources that you can use to focus on other areas of your business. Our team is dedicated to delivering efficient, reliable services, so you can trust us to handle your accounting needs while you focus on growing your business. Finally, outsourcing your accounting services to Bill Accounting can give you the calmness needed for comes from knowing your financial reporting is in good hands. We are committed to delivering high-quality, accurate services to help your business succeed.