A Tax Accountant is a financial professional who specializes in tax law and regulations. They are responsible for preparing and filing tax returns, ensuring compliance with tax laws, and providing advice on tax-related issues to individuals and businesses.
QUALIFICATIONS
Education
- Should be a graduate of Finance and or Accounting
- CPA is preferred but not required
Product Knowledge
- Complete knowledge of client accounts and businesses
- At least 3-4 years of experience in accounting or taxation
- Knowledge of Australian Taxation and Compliance is required
- Previous experience working with an Australian accounting firm
System and Application Knowledge
- Experience with MYOB Suite is required
- Experience with Xero and Sage Handisoft suite are preferred but not required
- Knowledge of Microsoft Office applications such as Outlook, Word, Excel, and PowerPoint
- Ability to learn new systems and tools as needed
DUTIES AND RESPONSIBILITIES
Financial Statement Preparation Tasks
- Data entry from client software into Sage Handiledger
- Review general ledger balances, reports, and transactions to verify their accuracy for the correct tax application
- Prepare and complete working papers according to client and regulatory standards for clients in a variety of businesses
- Apply technical proficiency and knowledge acquired through assigned work, self-study, course participation, and current technical reports and information study
- Prepare adjustments, if applicable, to correct the client’s tax allocation
- Perform year-end accruals review
- Gathering all pertinent information and confirmation received to prepare job notes for the financial statements
- Ensure all working papers are updated to reflect the final version of the financial statements
- Remain knowledgeable with updates in the accounting software
- Generating a complete set of Financial Statements to be sent to clients.
- Preparation of Trust Distribution and Dividend Statement, if applicable.
- Pro-actively raise queries and suggestions regarding client’s records to promptly prepare the working papers
Income Tax Return Preparation Task
- Drafting of Tax Returns in client-specified software
- Prepare Tax Reconciliation and Tax Provision
- Ensure all appropriate tax deductions and tax off-set are claimed based on regulatory standards
- Ensure all necessary tax return sections are filled out and with no validation errors
Other Tasks
- Responsible for preparing BAS, bookkeeping procedures
- Wide range of administration tasks such as liaising with the ATO
- Delivering operating efficiencies through accounting and business systems
- Staying informed on industry developments and changes in regulations
- The position may also require some ad hoc bookkeeping from time to time in MYOB or Xero
- Other ad hoc tasks as required
Process and Work Flow Compliance
- Ensure the proper completion of the tax compliance checklist provided by the onshore team
- Manage workflow and ensure jobs are completed accordingly before the deadline
- Daily Timesheet preparation in the client-specified application
- Pro-actively raise queries and suggestions regarding client’s records to promptly prepare the working papers
- Preparation and lodgement of Monthly, quarterly, or annual Activity Statements (IAS or BAS) for clients
Ad hoc tasks
- Any task deemed necessary by the Partner involving client management
