Business Tax & Company Accounting in Darwin, NT

Business Structures We Support

Whether you are a solo sub-contractor, an expanding trade enterprise, or a multi-entity group, we structure your accounting to protect personal assets and minimise legal tax exposure.

• Sole Traders & Independent Contractors: Profit & loss statements, vehicle logbooks, and simplified small business depreciation.
• Proprietary Limited Companies (Pty Ltd): Company Form C returns, 25% Base Rate Entity qualification, Division 7A loan agreements, and ASIC corporate secretarial compliance.
• Discretionary & Family Trusts: Annual trust distribution minutes before 30 June, beneficiary accounts, and asset protection planning.
• Partnerships & Joint Ventures: Partnership lodgements, capital account tracking, and profit distribution schedules.

Company Tax Rates & The 25% Base Rate Entity Test

Eligible Australian proprietary companies benefit from a reduced 25% corporate tax rate instead of the standard 30% rate.

To qualify as a Base Rate Entity, a company must have an aggregated annual turnover below $50 million and derive no more than 80% of its assessable income from passive sources (such as interest, net capital gains, dividends, and rent). Northern Accountants monitors your income composition to safeguard your 25% tax status.

Division 7A Director Loans & Complying Loan Agreements

Funds borrowed from a private company by directors or shareholders must comply with Division 7A rules to avoid being assessed as unfranked deemed dividends under section 109D.

We prepare written complying loan agreements specifying statutory loan terms (7 years for unsecured loans or 25 years for real-property secured loans) and calculate required Minimum Yearly Repayments using the official ATO benchmark interest rate (8.77% for the 2024–25 financial year).

Franking Credits & Dividend Imputation Management

Franking accounts track Australian corporate tax paid to attach valuable franking credits to dividends paid to shareholders, preventing double taxation.

We calculate maximum franking credits based on your company tax rate, ensure franking balances remain positive at 30 June to prevent Franking Deficit Tax (FDT), and draft compliant director dividend distribution resolutions.

Subdivision 328-G Small Business Restructure Rollover

Growing sole traders and partnerships can transition active business assets into a Pty Ltd company structure without triggering capital gains tax under Subdivision 328-G.

This rollover allows genuine business reorganisations to achieve limited liability and access the 25% company tax rate while deferring capital gains until assets are sold to external parties.

Specialised Trade & Contractor Packages

Top End tradies operate in intense climates with high asset costs. We offer specialised tax compliance for electricians, plumbers, builders, and subbies.

Northern Territory Business Compliance & Payroll Tax

Operating in the NT requires navigating local regulatory thresholds, including the $1.5 million NT payroll tax threshold and stamp duty concessions for business asset transfers.

Northern Accountants ensures your business complies with all NT Revenue Office requirements while claiming all allowable state and federal concessions.

Our Annual Business Accounting Workflow

We handle your year-end accounts in a structured four-stage process that guarantees timely lodgement and clear financial communication.

1. Stage 1: Ledger Review & Bank Reconciliation — We connect to your Xero file or review your bank statements to reconcile revenue and expenditure.
2. Stage 2: Pre-30 June Tax Planning — We forecast tax liabilities and implement pre-year-end strategies like equipment write-offs.
3. Stage 3: Financial Statements & Tax Return Preparation — We compile statutory balance sheets, profit & loss statements, and ATO returns.
4. Stage 4: Director Consultation & Lodgement — We review key financial ratios with you before submitting electronic lodgements.