Our Tax Accountant is responsible for analyzing financial data and preparing tax returns for individuals and businesses. They ensure compliance with tax laws and regulations while minimizing tax liabilities and maximizing tax benefits for their clients.
JOB OVERVIEW
Responsible primarily for completing the working papers and assisting the onshore team with clients’ tax compliance reports.
The Tax Accountant is also responsible for handling fundamental and core aspects of clients’ tax compliance and may assist with advanced tasks provided by the Accounting Manager or Service Delivery Manager.
DUTIES AND RESPONSIBILITIES
Financial Statement Preparation Tasks
- 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, participation in courses, and study of current technical reports and information.
- 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
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 set by the client.
- 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 Statement (IAS or BAS) of the client
ATO Compliance
Ad hoc tasks
- Any task deemed necessary by the Team Manager or Service Delivery Manager involving client Management
QUALIFICATIONS
Education
- Should be a graduate of Finance and or Accounting
- CPA is preferred
Product Knowledge
- Complete knowledge of client accounts and businesses
- At least 1-2 years of experience in accounting or taxation
- Knowledge of Australian Taxation and Compliance is preferred
- General Accounting experience is preferred
- Must have experience in Individual, Partnership, Trust and Company Compliance
- SMSF compliance knowledge is preferred, but optional
System and Application Knowledge
- Knowledge of Microsoft Office applications such as Outlook, Word, Excel, and PowerPoint
- Familiar with accounting tools such as Xero, MYOB and Quickbooks
- Ability to learn new systems and tools as needed
