Yes, even if your taxable income is “0” or if it is below the tax-free threshold. If you did not have any income you still have to submit a Non-Lodgment Advice (nil tax return) to inform the ATO that you do not need to lodge a tax return. Otherwise you have to lodge a tax return in the following circumstances:

• if you were employed,
• if you ran a business or were self-employed,
• if you received government payments (e.g. JobSeeker),
• if you made capital gain from selling assets (like shares or property)

31 October or If you use a registered tax agent and are on their client list before 31 October then you have an extension up to 15^th May of the following year.

In essence, a bookkeeper ensures that all financial transactions are recorded accurately and systematically, while an accountant uses that data to provide insights, analysis, and strategic advice. This helps your business operate efficiently, make informed decisions, and remain compliant with financial regulations.

Both roles are essential to maintaining your company’s financial health.

However, if the bookkeeping is not set up correctly, even the most skilled accountant won’t be able to provide reliable advice — because the information they’re relying on simply isn’t accurate. Poorly maintained records can lead to misinformed decisions, compliance issues, and missed opportunities for savings.

That’s why it’s so important to get your bookkeeping right from the start — it’s the foundation of your entire financial picture.

At TCBS Accounting & Advisory, you get the best of both worlds —
accurate, reliable bookkeeping paired with the strategic insight of a qualified tax accountant.

We go beyond simply recording transactions. Our approach ensures your financial data is not only up to date, but also aligned with your tax obligations and business goals. It’s an all-in-one solution designed to keep your books clean and your strategy sharp.

The most important part of what I do is ensuring your financial records and books are set up correctly from the very start. Without a solid foundation, even the best analysis or advice won’t be reliable — accuracy at the setup stage is critical.

From there, my work covers both bookkeeping and accounting functions, giving you complete support:

As a Bookkeeper:

• Accurate data entry & recording of daily transactions such as sales, purchases, and payments

• Bank reconciliations, payroll, accounts payable & receivable tracking

• Use of accounting software to manage financial records efficiently

• Maintaining ledgers and journals to ensure all transactions are classified correctly

As an Accountant:

• Financial analysis & interpretation of your records to provide meaningful insights

• Strategic financial planning including budgets, cash flow forecasting, and business advisory

• Tax compliance & planning, ensuring you meet obligations and minimise liabilities

• Audit preparation and support when dealing with the ATO

By offering both sides of the financial equation, I help you stay compliant, make confident decisions, and focus on growing your business with clarity and control.

Over and above minimising time constraints, your bookkeeper can help ensure that your business is compliant with all legislation. We will keep abreast of any changes in laws, including those pertaining to payroll and taxes.
Your bookkeeper can additionally provide a bird’s eye view of your company’s financial health and advise whether you need to refrain from certain business actions that could put your business at financial risk.
Therefore, when you partner with the right bookkeeper, you get that support for your business that stretches further than just logging data – you truly get someone in your corner that can help answer the questions you have about various financial processes for your business.

Absolutely! I have experience with many accounting software platforms. I’ll be able to work with your current systems as well as recommend improvements to your current processes.

At TCBS Accounting & Advisory, we understand that every business is different — that’s why we offer flexible packages to suit your needs and budget.
Whether you need help for just a few hours a week or more comprehensive support, we’ll tailor a package that works best for you.

While professional bookkeeping may seem like an added cost, not having it done properly can be far more expensive. Common issues we see include:

• Unclaimed GST on asset purchases

• Incorrectly set up payment platforms (e.g. PayPal, Stripe, Square)

• Misclassified transactions that affect your tax position

• Missing documentation that delays compliance and lodgements

These errors can lead to missed deductions, penalties, or costly amendments down the track. Investing in accurate, professional bookkeeping saves you time, money, and stress — and ensures your finances are always tax-ready.

As you scale your business, you need every available moment to work on your growth and strategies to achieve your goals. However, when you become bogged down with day-to-day admin, you might end up spending more time trying to figure out financial processes and software – adding extra stress to your schedule that is likely overloaded.

When you employ an external bookkeeper, there is less stress on your already constrained schedule, and you can rely on a professional to handle those key financial or recording processes that you often do not have the time for.

1. Professional bookkeeper is more efficient and isn’t concerned about building hours on a time clock
2. You (as an employer) will not be required to pay workers compensation insurance
3. You (as an employer) will not be required to pay superannuation and payroll tax
4. The cost for productivity will overweigh the cost for non-productive employees.