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SAVE TIME, MONEY, AND STRESS

Beany makes small business tax simple

We understand accounting and tax can be overwhelming - and we are here to take the weight off your shoulders. Beany's team of certified accountants and financial support experts can help you manage the financial side of your business with ease - from bookkeeping, tax preparation, tax filing, to Xero setup and training. Our expertise comes without the jargon, and is designed to help you save you both time and money. Let us handle the numbers, so you can focus on your business.

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Small business tax 101

As a small business owner, you need to know the following tax responsibilities. It's also important to keep in mind that laws and regulations may change, and it's always best to check with ATO and consult with a professional tax advisor to ensure compliance with the latest rules.​

Businesses can claim deductions for certain business-related expenses, such as salaries, rent, and utilities. You may also be eligible for tax credits, such as donations made to charities.​

Businesses with an annual turnover of more than $75,000 must register for GST and file BAS returns on a regular basis.​

If you hire any employees, you are required to deduct tax from your employee's wages, and file payroll tax returns.​

Small businesses may also be subject to other taxes such as fringe benefits tax (FBT) and Pay As You Go (PAYG) withholding tax (if you have employees or contractors).​

Businesses are required to keep accurate records of their income and expenses, including invoices, receipts, and bank statements. These records must be kept for at least 5 years in case of an audit by the ATO.​

You must file your income tax returns with the IRD by the 31st of October each year. If you are working with an accountant, you may be eligible to get an extension of time (EOT) to file your income tax. This means you don't need to file your taxes until the 15th of May, the following year.​

The laws and regulations surrounding small business taxes can be complex, so it's recommended that you seek professional advice to ensure compliance and minimise your tax liabilities.​

ONE SIMPLE FIXED MONTHLY FEE

What do you get with a Beany core package?

We’ve bundled everything you need into our core package, with one fixed cost split over 12 months. This covers your end-of-year accounts, tax minimisation, unlimited support/advice and more.We also have a wide range of other helpful services to help you as you start out or as you grow, such as bank reconciliation, tax returns, advisory, and more. Reach out to us for a free chat - we’d love to help.

Year-end compliance work sorted

Completing and filing income tax returns for one business entity and up to two shareholders/individuals (basic tax returns for wage/distribution income only - additional fees apply for rental schedules or managed fund investments).

Easy online dashboard

With a painless annual questionnaire, our accountants will have all the information they need to process your accounts and tax returns. You can also access all your previous accounts and returns at any time from your dashboard.

Unlimited support for day-to-day queries

Need help with your Xero file? Not sure when your tax is due, or what to do with your payroll? You can call or email our Customer Support desk as often as you like.

Reduced taxes

We ensure you’re claiming all the deductions and credits available to you, so you stay compliant and minimise your tax bill. 

Proactive information and alerts

Never miss a deadline or vital information again with key alerts on unlodged returns, unpaid taxes and more.
Completing and filing income tax returns for one business entity and up to two shareholders/individuals (basic tax returns for wage/distribution income only - additional fees apply for rental schedules or managed fund investments).
With a painless annual questionnaire, our accountants will have all the information they need to process your accounts and tax returns. You can also access all your previous accounts and returns at any time from your dashboard.
Need help with your Xero file? Not sure when your tax is due, or what to do with your payroll? You can call or email our Customer Support desk as often as you like.
We ensure you’re claiming all the deductions and credits available to you, so you stay compliant and minimise your tax bill. 
Never miss a deadline or vital information again with key alerts on unlodged returns, unpaid taxes and more.

Trusted by more than 4,000 businesses, large and small

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HAPPY CUSTOMERS

See what our customers say

We spoke to lots of firms, looking for someone who understood small business and would take the time to get to know us. Julian solidified our choice; he’s a good listener, he didn’t talk over me, and offered valuable information. I always get a friendly response from the support team straight away and get extra info that I actually need.

KarenKaren Van HuffelDirector, Think Resourcing

Beany means I don’t have to deal with the headache of bookkeeping and accounting. I can go in at any time and see how we’re doing, whereas typical accountants wouldn’t interact with you until year-end. Everything is straightforward and uncomplicated. With Beany, you describe what you need and you can get it.

Peter WachtellPeter WachtellGroup Healthcare

When I started InfluenceWorks, I felt confident within my industry knowledge, but super under confident around the financial side of things. My Beany accountant went above and beyond, giving me step by step instructions on everything I needed to set up and even giving me super helpful tips about things outside of the financial realm.

Charlotte CainesCharlotte CainesCreative Director, InfluenceWorks

Getting set up on Beany was simple and painless, they even took care of the switch for us. Our accountant Jenny never hesitates to get involved or come up with solutions or advice for new or different scenarios that seem to regularly pop up. Unlike experiences with larger firms, we’ve always felt we get value for money; Beany isn’t low touch, low cost.

Lachie CampbellLachie CampbellDirector, Latitude Commodities

Accounting is like a chore to me. Using Beany means I’m still in control, but when I have a question it gets answered straight away. It’s all so seamless. Even though Beany is all online, I have a connection with my accountant, Rebecca. She makes me feel like family. Beany is easy, hassle-free, and always a step ahead.

Enny BenzonelliEnny BenzonelliDesigner, Enny Benzonelli Ltd

BEANY FAQS

Frequently asked questions

Don’t see your answer? Reach out to us, we’d love to help!
Book a call with our problem-solving teamUse this meeting link to schedule a phone call with us so we can learn about your business and accounting requirements. Think of it as a free chat to establish whether we're a good fit for each other.During the phone call we will recommend the services that match your needs and will let you know the next steps for coming on board as a client.Get startedIf you already know what services will work for you, you can sign up here. After completing our registration form, you'll receive an account activation email for your Beany portal. From activation, simply follow the steps to add your business (or sole trader / contractor) details and purchase the services you require. Following this you'll be prompted to begin our client onboarding.
We can only work as your accountant once all the necessary ATO authorities and AML (anti-money laundering) checks have been completed. If there are any third parties that we require checks for, we'll need these completed as well.Once onboarding is complete, you'll receive an email inviting you to book a new client meeting with one of our accountants where you can discuss your business goals and ask any questions you have.
You can call and email our Customer Support desk as often as you like. The type of questions we get range from coding queries, to tax deadlines, payroll or invoice questions.We always aim to respond within 24 hours with answers to your questions, although at peak accounting times it may take a little longer.Our Support desk is staffed by qualified and experienced Beanies who can respond quickly and accurately. If needed, they will also liaise with your accountant.If you require some out-of-scope work, such as preparing a cash flow summary for the bank, or working through a specific tax issue, we'll let you know any extra cost before we start.
Beany has a 12 month commitment for our accounting packages. This is because the monthly payment you make is actually the total cost for the year, split into 12 monthly payments, as a payment plan.We operate like this to give you certainty about the cost of your compliance, and to smooth cashflow for your business rather than a big bill at the end of each period.
View our support site