Grant Mackinnon 

Tax, Business & Estate Advice

Important notice:

The practice is currently closed and will not be taking on new clients until further notice for personal reasons.

Existing clients are now being managed by our trusted partner HMS Accounting. The ATO is aware of the situation. 

Current client records are with HMS Accounting, you can contact Hayley Simpson to discuss using the details below:

https://www.hmsaccounting.com.au/

0404 470 951

My name is Grant Mackinnon. I am a Registered Tax Agent (#24618419), Accountant, Bookkeeper and advisor based in the Inner West of Sydney around Newtown and Erskineville.


I aim to make your Tax return/affairs less painful and confusing. Our focus is to assist you and your business in becoming organized, compliant and efficient not only in your tax affairs, but in general administration processes.

I have expertise with:

Small and Large Organizations and Projects

Crypto tax affairs

 Multi - Jurisdictional tax returns (eg: UK, US, NZ and GDR)

Retail (including POS System setup)

The arts: performance/ Visual/ literature/Design

Rental property

Complex and diverse investments tax affairs

Construction

Trusts and Estate advisory

If you would like to know more about me and my services and how I may be able to assist you, I hope you find the basic information you need on the web site. Otherwise drop me a line. 

Services

I do not generally supply flat rates. I feel that a flat rate tends to penalise clients that are more organised with their paperwork and therefore not very good value for the client. Additionally, accounting software has become more automated, so the need for extensive bookkeeping support is overkill. I see part of my service is to identify inefficiencies within my clients' business and help reduce these. I feel a flat rate approach can contradict this philosophy. 


However, I do understand the need for a starting figure so have listed prices on the following pages as a guide.


I can purchase all MYOB products at a reduced rate and can occasionally purchase MYOB, Reckon, QBonline (Quick Books), and Xero software at reduced rates.  Prices fluctuate, so contact me to discuss your needs and I'll give you a quote. 

Bookkeeping Rates

Hourly rate $65 for monthly clients 

Hourly rate for Quarterly/one-off/once a year clients $75

BAS submission $70 per BAS/IAS


Our staff can work either on or off-site or remotely. However on-site visits require a minimum 3 hour booking. Note that on-site visit cancellations with less than 24 hours notice may incur a cancellation fee of $55.


Call-out/travel $30 per day when required.  Roughly, this is where client's site is more than a 30 min drive one way in normal (non-peak hour) traffic or anywhere on my train line (starting from Mortdale station, e.g. Bondi Jct/Waterfall). This will be discussed before you commence any service with the practice.


All prices are ex-gst and terms are strictly 14 days for any balance owing.


As we are partners with some of the software providers, it entitles us to additional bookkeeping products and occasionally discounted prices.  Prices fluctuate, so contact us to discuss your needs and I'll give you a quote.



Tax Advice and Returns

While I try to quote my work as best I can before starting, every return is different.  The more organised clients are, the more efficient I can be - so I can charge you less money.  I do all the returns myself, I don't hand them off to an unqualified junior, or outside service, hence  the premium on the quick and fast big brand names. For a Very Rough guide: 


Basic personal returns $180 (Basic Australian wages, bank accounts and dividend income)


Sole trader returns (Bookkeeping already fully completed to tax accounting needs) starting from $280


Company/Partnership/ Trust Returns  Starting from $650. Does not include full end of year reporting and analysis.


None of the above fees include (for example): Capital Gains, Property, Additional Investments and Foreign Income.


Deposits are required before the commencement of any work.  

Any additional bookkeeping work will be charged at bookkeeping rates. 

General tax advice meetings or emails will be charged out at $160 per hour.



Management/Business Consulting

Really good at doing your business but are finding the admin side of things a little confusing and the numbers aren't adding up? Do you want a more hands on tax accountant? Don't want to be "handled' just every time a ATO reporting is due?


I want to help.  I am available for additional hands on management accounting, and other office/project management services, for small business. I have broad set of skills with experience in Directorships, Human Resources, Training, OH&S, Office/Staff and Project management (up to 2 billion).


Rates are from $150 per hour (or an negotiated day rate) but may fluctuate depending on what your business can afford and your needs. This MUST be planned well in advance(not an ad-hoc service) so as not to conflict with current client (and Life, family) commitments. 

Software & Accounting Partnerships

Software Currently Used:


There are some interesting developments in this space with online functionality and automation, including accounts and payments on your smartphone or tablet. Besides just accounting, there is other external software that link your bank accounts; in order to run your business more efficiently and effectively that are specifically developed for your business sector. There are now many levels of cost/connectivity/complexity. Talk to me about starting or moving to this type of bookkeeping and moving away from boxes of receipts and excel spreadsheets.


Nobody pays 50% tax

One of my pet peeves is hearing a politician (Of many political persuasions) saying "You are/will be paying 50% in tax". This is either deception on their part or poor planning on the tax payer's part.  You would need to have an income of over 6 million dollars directly to you in the 2014/15 year to be paying more tax than you would keep in your pocket. This includes paying all additional levies (excluding HECs - but you would clear any debit long before then). Even if you include additional taxes (GST, stamp duties, Payroll) it's still unlikely that you would be dragged over the 50% mark. An article that explains this in better detail than I could is "Rich pay half income in tax" 


Our current* top rate that cuts in at $180,000 per year is 45% + levies. With this level of earnings (or below), you may have the ability to plan your tax affairs to reduce your taxable income, either by the way you earn your income or expenses you could claim.  Additionally, I've had clients fear a Capital Gain boogey man. Capital gain isn't a 50% tax. 50% of the profit is added to your income and taxed a marginal rates. However, in lots of cases, this may be reduced further by rolling over into your super or another investment.  Of course, all of these are dependent on your personal situation. Partners and children all can have an impact on how you can manage your affairs.  Want to plan your tax affairs more efficiently? Make an arrangement to come and talk to me.