Frequently asked questions

Gail Freeman & Co is a chartered accounting firm in Kingston, Canberra that has helped individuals, small and medium businesses and not-for-profits across the ACT since 1987 — with tax, self-managed super, financial planning and business advice. You can reach the team on (02) 6295 2844.

Look for a Registered Tax Agent with recognised qualifications (Chartered Accountant or CPA), real experience with your type of structure, and someone who explains things clearly. Gail Freeman & Co is led by Gail Freeman FCA — a Registered Tax Agent and SMSF Specialist Adviser with more than 35 years’ experience in Canberra — supported by CPA Bethany Freeman-Chandler.

Both are qualified, regulated accounting designations earned through rigorous study and ongoing professional development. At Gail Freeman & Co you get both — Gail Freeman is a Fellow Chartered Accountant (FCA) and Bethany Freeman-Chandler is a CPA — so you’re covered across tax, accounting, software and strategy.

If you run a company, trust or a growing sole-trader business, an accountant helps you pick the right structure, stay compliant with the ATO, lodge your BAS and returns, and keep more of what you earn. Gail Freeman & Co works with Canberra small and medium businesses on exactly this — and can coach you on improving the business too.

Common, legitimate levers include choosing the right business structure, claiming every deduction you’re entitled to, timing income and expenses, and making concessional super contributions. The right mix depends on your situation — Gail Freeman & Co provides tax planning for Canberra businesses so you pay the appropriate level of tax and no more.

Don’t panic — bring in a Registered Tax Agent early. Gail Freeman & Co is experienced in dealing with the Australian Taxation Office (Gail Freeman has advised the ATO and served on its committees), can minimise the disruption of an audit, and can help prepare an objection if you believe an assessment is wrong.

Generally you can claim costs such as loan interest, council rates, repairs, management fees and depreciation against your rental income, while capital improvements are treated differently. The rules are easy to get wrong — Gail Freeman & Co advises Canberra investors on rental properties and negative gearing, and prepares the returns.

As a general guide, the capital gain is added to your assessable income for that year, and individuals who have held the asset for more than 12 months usually qualify for a 50% CGT discount. Your actual bill depends on your income and cost base — Gail Freeman & Co provides CGT advice and calculations so there are no surprises.

An SMSF gives you far more control over how your super is invested, but it also carries real compliance obligations and tends to suit larger balances. Gail Freeman & Co — where Gail Freeman is an accredited SMSF Specialist Adviser — can help you decide whether an SMSF fits your goals, and handle the set-up and administration if it does.

Yes. A self-managed super fund must lodge an annual return and be independently audited each year to stay compliant. Gail Freeman & Co provides SMSF administration and audit support so your fund always meets its obligations.

You can, but only under strict rules — the investment must meet the sole-purpose test, any borrowing needs a limited-recourse loan, and you generally can’t live in or rent residential property to fund members. Gail Freeman & Co advises on structuring property purchases in super and avoiding the common pitfalls.

They do different jobs — an accountant handles tax and compliance, a financial planner helps you build and protect wealth — and it helps when the two talk to each other. Gail Freeman & Co offers both under one roof: financial planning is provided by Gail Freeman as an Authorised Representative of Lifespan Financial Planning Pty Ltd (AFSL 229892).

Fees depend on the work involved — a simple individual tax return is very different from running a company’s accounts or an SMSF. Gail Freeman & Co will give you a clear quote for your situation; call (02) 6295 2844 or enquire through the website.

Call (02) 6295 2844, email info@gailfreeman.com.au, or send an enquiry through the website. Gail and the team will arrange an obligation-free initial consultation to understand your needs. The office is at 9/71 Leichhardt Street, Kingston ACT 2604.