Our Services
Strategic Business Advice and Planning
There are a number of ways to minimise your tax. We offer services where we develop a tailored tax plan that is flexible enough for you to adapt as you or your business grows.
Instead of paying more tax, why not have those funds reinvested into your personal wealth or business.
In today’s commercial environment, the ability to make strategic and timely decisions can give you a competitive advantage.
Strategic planning is more than examining budgets and cash flows. It involves the ability to look at the business holistically; assess its strengths, weaknesses, opportunities and threats, and optimise resources to allow the business to meet its goals.
Unfortunately, many business owners are too busy working within the business to adequately think about their business planning and objectives.
Whether planning for future growth, considering a transaction, or an exit strategy, our specialist advisors offer timely advice and technical expertise that allow you to make informed decisions, while keeping your focus on the day-to-day management of your business.
ATO Audits
While Australian Tax Office and State Revenue Office audits are a necessary part of an effective tax system, they can be expensive and disruptive for a business. We can manage the whole process on your behalf, including ATO/SRO and third party communication.
Restructure and Asset Protection
An evolving business will often reach a point whereby its structure obsolete or inflexible. The ability to identify the need to restructure without triggering unnecessary taxes or other costs is a challenging but value driven process.
The main objectives of a business restructure are to ensure flexibility for tax-effectiveness, asset protection (where possible) and compliance with regulations.
Establishing the right business structure is essential for protecting your assets against unforeseeable circumstances or losses, be it ‘safety’ from potential litigation or from losing control of your business.
The competing issues of tax, preferred exit strategies and regulations amongst other matters will need to be balanced in this critical decision.
Whatever stage you’re at in the business lifecycle, our team can help. From establishing the correct business structure, evaluating an existing structure, or designing and implementing a cost-effective restructure.
How we can help
Developing asset protection strategies for owners
Designing tax effective structures
Exit planning within the business structure
Assessing and minimising stamp duty implications of transactions
Reviewing existing structures for efficiency and flexibility
Providing advice on income tax, GST and CGT concessions in the event of restructure.
Accounting and Compliance
Tax compliance and reporting regulations are onerous, time consuming and complex.
Business owners and management must see to an increasing number of compliance issues, and be exposed to risk and significant penalties for failing to correctly respond. Few businesses have the in-house expertise to deal with such issues in a cost-effective, timely manner.
For many businesses, dealing with compliance issues involves a significant drain on time and resources and as a result, exposes them to a higher degree of tax risk.
Working with our team can ease the burden on both administrative staff and the key decision makers of the business. We make your compliance our top priority, allowing you to focus on what you do best, managing and growing your business.
We can help at every stage – from starting fresh, to taking over from your in-house bookkeepers and accountants when required. This keeps your records accurate, up-to-date and processed with minimum disruption to your business.
We continuously review the needs of our clients to proactively ensure that they have the proper controls and procedures in place to not only meet compliance requirements but achieve their personal and business objectives.
How we can help
Preparation of management and statutory accounts
Preparation and lodgement of tax returns
Tax planning
Specialist tax advice
Corporate secretarial duties
Business activity statements
Other statutory reporting requirements e.g. payroll tax and superannuation obligations
Business Performance Management
The ability to make well-informed decisions is dependent on the quality of information available to the management team.
While most businesses have systems in place to report on their financial performance, interpreting this data in a meaningful and comprehensive way takes experience and expertise.
A thorough and objective review of your current operations can reduce costs, improve efficiency and increase profitability.
As business advisers, we can review your entire operation to determine what’s performing well, and where your business can improve.
Working with your management team, we can develop key performance indicators specific to your business’ needs. Once these are in place, a close monitoring system and analysis of useful reports allow us to offer tailored advice and practical recommendations.
Our specialist industry knowledge also allows us to benchmark you against the competition, allowing for better decision making.
How we can help
Periodic budget reporting and analysis
Cash flow forecasting
KPI development, analysis and reporting
Industry benchmarking
Breakeven and profitability analysis
Banking and funding reviews
Secondments
Commercial project management
Outsourcing of the entire business management function
Cloud Accounting
Every few years, a new technology emerges which changes the way we do business. Cloud computing and more specifically cloud accounting, are good examples.
Cloud-based accounting software represents the next generation of record keeping technology and is generally a more efficient way to monitor the financial performance of your business.
Our experts have developed a systematic approach to using cloud accounting software.
By embracing a single ledger system, we are able to offer far more than compliance services. No longer do you and your accountant have to transfer files back and forth, Rather, you both simply login to a secure online data file to view financial transactions in real time.
We take full advantage of the ability to access our clients’ financial data in real time to make adjustments, prepare and lodge tax returns and actively support their business throughout the year, not just at year-end. We can spot opportunities and threats before they arise and work alongside our clients to actively manage the growth of their businesses.
The benefits of cloud accounting
Improve teamwork with – A single ledger
Cloud accounting programs make use of one data file with multiuser functionality that allows you, your team, and importantly your advisor, to access the same data and work on it simultaneously. Spending less time on data management translates to less cost to your business. Moreover, it allows our advisors to deliver timely recommendations and real time planning.
Make decision making easy – Daily bank feeds and real time information
Your business’ bank transactions can be retrieved daily. Daily bank feeds allow you to access information about the performance of your business in real time. This puts you in a better position to take advantage of opportunities, and to address financial issues faster than ever before.
Additionally, by combining your accounting software with electronic banking, data entry becomes simple. The software can recognise repeat transactions and prepare them automatically, negating the need for multiple entries.
This removes the need to handle repetitive transactions multiple times.
Work anywhere, anytime – Flexibility
Cloud accounting enables users to access their data from any location if they have an internet connection. This provides the ability to work from remotely from home, while traveling, or from another location.
Many of the large providers are configured to allow mobile invoices. An invoice can be generated and distributed from anywhere using a smartphone or tablet.
Never be caught out – Automation
Online software is regularly updated for changes in the accounting and taxation environment, such as new tax rates or legislative amendments. Not only will this ensure your data is being treated correctly, it also eliminates the need to purchase and install regular software updates, saving both time and money.
Choosing a service provider
Moving your financial data to the cloud demands a high level of trust between you and your provider.
We are familiar with the Australia’s top cloud accounting providers and can help you to evaluate the systems available.
Our professionals are independent and are not paid commissions. Our focus is on finding the right fit for your business.
The most popular service providers include:
Each provider offers a range of scalable packages allowing you to find a system that best meets the needs of your business now and into the future.
Following implementation, our advisors are available to you and your staff, providing ongoing support, training and system management.