For Business

A partnership that transforms your future business for the better. You’ll be opting into an ongoing business partnership with an accounting firm that’s focused on giving you financial direction.

Our service offerings for Business Owners:

• Accounting & Taxation including Tax minimisation
• Business Advice & Planning
• Management Accounting
• Structuring

Accounting & Taxation

As a small business owner, you’ll gain far more than our Accounting and Taxation services. You’ll be opting into an ongoing business partnership with an accounting firm that’s focused on giving you financial direction.

Our Accounting and Taxation services are all part of a complete solution that’s focused on solving problems to build your business success – making us far removed from the ‘typical’ accountant who focuses on year-end compliance and regurgitates the data supplied by you.

As part of our package to provide Year-end Financials, Tax and BAS Returns for companies, trusts, partnerships, superannuation funds and sole traders, we also provide easy-to-understand financial reports and advice to help you make better business decisions. And as specialists in Tax Planning and minimization, we’ll make sure you pay the minimum of tax that’s legally possible and regularly review it so tax minimisation is maintained throughout the year.

Our service offerings also include:

• Business Name Registrations
• ABN and GST Registrations
• ASIC Registered Office

Contact us now to find out more about how our Accounting and Taxation services can give you the financial direction to make your business a success.

Business Advice & Planning

Our Business Advice and Planning services are all part of our solutions-driven package to provide financial direction for the very best outcomes.

We aim to make the journey to business success as seamless as possible by providing advice and direction that will drive business growth and make a difference to your financial future. Our business insight is finely honed by working in close partnership with clients from all industries and by ensuring we’re up-to-date on current legislation, industry changes and technologies.

Our Business Advice and Planning services include:

• Due diligence of potential business purchases
• Business valuations
• Business plans
• Exit strategies
• Business health checks
• Business Analytical Reviews
• Business improvement strategies
• Asset protection including set up of trusts, companies and Self Managed Super Funds (SMSF)s

Contact us now to find out more about how our Business Planning and Advice services to give your financial future the best chance of success.

Management Accounting

Give your business the best chance of success and maximise your financial future by putting it on the right road to success with our Management Accounting services.

Because we take our clients’ successes personally, our Management Accounting services are designed to put the right strategies in place to guide you to success and review and analyse your progress for the best outcomes. No matter how long you’ve been in business, it’s never too late to put your business on track to a brighter future.

As well as working with you to increase your profits and maximise your cashflow, we can:

• Put business improvement strategies in place
• Provide monthly or quarterly reviews of your business KPIs to ensure you’re on the right tracks
• Budget and cashflow analysis

Contact us now to find out more about how our Management Accounting services to put your business on the path to success.

Business Structures

It is important to consider the advantages and disadvantages of the various business structures available and to choose the best structure to suit your personal circumstances.
We will sit down with you and listen to your situation, so we can recommend the best solution for you.
You can of course start with something simple initially and then look to more formal structures later.
Did you know we offer ‘same day’ turn around on Business Structure set-up?

Different Types of Structures:-

Company – Great for Tax Minimisation and Asset Protection
A proprietary limited company is a separate legal entity with its own income tax liability.  The company must have at least one director and one shareholder (who can be the same person).

• The initial set up and ongoing costs of a company are higher than those of a sole trader and partnership.
• The process of establishing a company correctly for tax minimisation purposes is complex and therefore should be undertaken by an accountant
• A company pays income tax on its taxable income for the year at a fixed rated (currently 26%) for base rate entities.
• Transfer of company ownership can be relatively easy; the company doesn’t have to be wound up in the event of the death, disability or retirement of any of the key people in the business

Trust – Great for Tax Minimisation and Asset Protection (with Corporate Trustee)
A trust is an arrangement where the trustee (either a person or a company), carries on business and holds assets for the benefit of the beneficiaries.

• A trust is a complex structure, therefore, establishing a trust should be done by a solicitor or accountant
• Ownership of the business by a corporate trustee provides asset protection and limits liability in relation to the business
• Beneficiaries of a trust pay tax on income they receive from a trust at their own marginal rates
• Beneficiaries of a trust are generally not liable for the debts of the trust – assets of the trust may be controlled by the beneficiaries but they are not owned by them.

Sole trader  – Common for new Start-Up Businesses
A sole proprietor who controls and manages the business.  This structure is appropriate where the business is small, Net Profit is under $80k and monies invested in the business is minimal.

• Simple and inexpensive to set up
• The owner retains all the profits but is responsible for all debts and liabilities, which means that personal assets can be used to pay for business debts
• A sole trader pays tax as part of their personal income tax return at their marginal income tax rate – as the business earnings increase so does the owner’s tax rate
• Business Tax Offset is capped at $1k
• The business can easily cease or be sold

Partnership – Not very common
A Partnership consists of two or more people (up to 20) who hold joint ownership of a business.

• Simple and inexpensive to set up, however, a written partnership agreement is not mandatory but is highly recommended for partners, not Husband and Wife
• Profits of the business are distributed to the partners who then pay income tax at their marginal tax rate less any applicable Business Tax Offset
• Partners don’t have to hold equal shares in the business, however, each partner is jointly and individually liable for all debts and liabilities of the business
• Transfer of ownership from one partner to another person can be complex

Contact us today so we can put your business on the path to success.