Tax Accountant
Your trusted tax accountant
Kostov Accountants® have been offering professional services to individuals and businesses across Australia and overseas for over 20 years. We are your trusted tax accountant, with the expertise and experience to help you and your business.
We will also do the work for a very reasonable fee, which is tax deductible!
How the services of Kostov Accountants® could benefit you:
• If your tax situation is in a complex state, then it is usually better to employ the services of a registered tax agent and a member of CA ANZ, such as Kostov Accountants®, to do the work for you. This will help ensure that you don’t pay more tax than you have to and make it less likely that the ATO audits you.
• If you are an Australian resident for tax purposes but not a permanent resident of Australia or if you are not a resident of Australia for tax purposes, we can make sure you get the refund you are entitled to (if applicable) and help you access your superannuation.
• Preparing tax documents and forms on your own can be time-consuming, and the Australian tax law can be complicated to interpret.
• A tax accountant will ensure that your tax returns are accurate and as required by the ATO.
• If you are facing problems with the ATO, Kostov Accountants® could help.
• We can help you with tax planning too.
We have the knowledge and experience to lodge all types of tax returns with the ATO, including for individuals, partnerships, trusts, companies, and superannuation funds.
Read on to learn more about the regulatory and co-regulatory tax framework in Australia and how Kostov Accountants® maintains the highest professional standards and ethics:
The regulatory framework in Australia
There is no single body responsible for regulating the accounting profession in Australia. The bodies that are involved in the regulation of the various arms of the profession and other activities, in which accountants may be engaged, are:
Regulatory body and who they regulate
Australian Securities and Investments Commission (ASIC)
>Auditors and liquidators – through the Companies Auditors and Liquidators Disciplinary Board (CALDB)
>Financial planners
>Company directors
Tax Practitioners Board (TPB) and Australian Taxation Office (ATO)
>Tax practitioners
Australian Prudential Regulation Authority (APRA)
>Auditors/trustees of superannuation funds
>Directors and senior managers of insurance companies
Australian Financial Security Australia (AFSA)
>Trustees in bankruptcy
The co-regulatory framework
Ethics is fundamental to the accountability of the profession and its mandate to self-regulate within the broader co-regulatory regime in Australia.
The co-regulatory environment comprises the regulators, government standard-setting bodies, the Accounting Professional and Ethical Standards Board (APESB) and the three professional accounting bodies:
• Chartered Accountants Australia and New Zealand (CA ANZ)
• CPA Australia
• The Institute of Public Accountants
The Code of Ethics for Professional Accountants
At the core of the chartered accounting designation is a responsibility to act in the public interest. This is akin to a social contract that pledges ethical practice, underpinned by five principles:
• Professional competence and due care
• Professional behaviour
• Confidentiality
• Objectivity
• Integrity
These professional standards also require members to meet the technical standards overseen by the Australian Accounting Standards Board (AASB) and the Auditing and Assurance Standards Board (AUASB). Adhering to the Code of Ethics for Professional Accountants is therefore extremely important. The Code of Ethics underpins the standards and regulations that contain the mandatory ethical and professional requirements of all CA ANZ members, set out in the By-laws and Regulations. As with these government standard-setting bodies, CA ANZ engages with the APESB and makes submissions on the development and review of standards, to ensure they align with best practice, relevant global standards and regulatory developments.
Kostov Chartered Accountants are registered tax agents with the TPB and members of CA ANZ, which means that they satisfy the rigorous entry requirements of both bodies.
Read more about The Code of Ethics for Professional Accountants on the Accounting Professional and Ethical Standards Board website at www.apesb.org.au.
Contact Kristian at Kostov Accountants® by filling out the contact form or ringing him directly on 0409 871 861.