How this usually works
A well-run company tax return process follows a clear pathway from discovery to lodgement:
- Discovery and scope: confirm structure, industry, software, BAS position, payroll and super status, and any cleanup or deadline pressure.
- Year-end review: reconcile banks and loans, review revenue cut-off, stock and WIP, asset purchases/disposals, accruals/prepayments and provisions.
- Tax adjustments: calculate tax depreciation, small business concessions, R&D (if applicable), review Div 7A, franking, thin capitalisation and any CGT events.
- Financial statements: prepare and finalise the company’s P&L, balance sheet and tax reconciliation.
- Director sign-off: present results, explain effective tax rate, cash flow impact and upcoming PAYG instalments.
- Lodgement and payment: lodge the company tax return (Form C) via a registered tax agent and plan payment timelines.
Typical timeline: clean books can be wrapped within 2–4 weeks. Add time for catch-ups, asset schedules, group adjustments or ATO queries.
Australian context to keep in view
- Tax rates: base rate entities are generally taxed at 25%; other companies at 30%.
- Due dates: self-lodgers usually 31 Oct; tax agent clients often qualify for later ATO program dates if prior-year returns are up to date.
- Reconciliation matters: ensure GST/BAS, PAYG withholding, superannuation, and Single Touch Payroll align with your annual figures. If your BAS needs review, see BAS agent services.
- Private company traps: review Div 7A on director/shareholder loans, franking account and any unpaid present entitlements from trusts.
- Assets and deductions: apply correct tax depreciation and small business concessions; keep invoices for asset purchases and disposals.
- Groups and complexity: consolidations, intercompany loans, R&D, CGT on shares or property and international dealings require specialist review. For CGT, see capital gains tax help.
What to compare before you commit
Scope
Confirm the scope covers end-to-end work: year-end review, financial statements, the company tax return, reconciliation to BAS and payroll, and support with payment planning and ATO correspondence.
Software fit
Choose an accountant fluent in your stack (Xero, MYOB, QuickBooks, industry add-ons) who can explain the workflow, not just name tools. Clean, well-documented workpapers reduce ATO risk.
Turnaround and communication
Agree expected milestones, response times and how queries are handled during peak periods. Ask who does the work and how progress is reported.
Commercial fit
Confirm whether pricing is fixed or hourly, what’s included, and fees for extras (cleanups, asset schedules, Div 7A, CGT). Ensure the firm is a registered tax agent with relevant industry experience.
Best next steps
Write down what you want the outcome to be: a lodged company tax return, a clean set of year-end accounts, a Div 7A review, or a reconciliation of BAS and payroll to the annual numbers.
Gather essentials: access to accounting software, bank and loan statements, fixed asset details, stock/WIP data, payroll and super records, prior returns and any ATO letters.
Shortlist providers: compare registered tax agents with relevant experience and request a clear scope, price and timeline. If you also need bookkeeping or payroll help, see bookkeeping services and payroll services.
Frequently asked questions
What is a company tax return and who needs to lodge one?
A company tax return is the annual Form C lodged with the ATO by Australian companies. It reports taxable income, deductions, offsets and tax payable, and applies to companies even if they made a loss or traded for only part of the year.
When is the company tax return due?
If you lodge yourself, the due date is usually 31 October. Using a registered tax agent often provides a later date under the ATO lodgement program (commonly up to 15 May), assuming prior returns are lodged on time.
What is the company tax rate?
Most base rate entities are taxed at 25%; other companies are taxed at 30%. Your accountant will confirm which rate applies and why.
What records do I need for a company tax return?
Financial statements, trial balance and general ledger, bank and loan reconciliations, asset purchase/disposal details, stock/WIP counts, payroll and super reports, BAS/GST summaries, franking account details, and any director/shareholder loan movements for Div 7A.
Can I deduct everything my company spends?
Only expenses that are necessarily incurred in earning assessable income are deductible. Capital items are depreciated, some costs are partially deductible, and private or non-business portions must be excluded.
How much does a company tax return cost?
Costs depend on record quality and complexity. Expect a fixed fee for straightforward cases, with additional fees for cleanups, asset schedules, CGT or Div 7A work. Always request a written scope and quote.
What happens after lodgement?
You’ll receive a Notice of Assessment showing tax payable or refundable. Your accountant can help with payment planning, PAYG instalments and setting up reminders so next year runs smoothly.