Complying with Australia's taxation and financial reporting laws is a fundamental part of keeping one's financial affairs in order.
An ordered financial base is an essential springboard to being able to make informed financial decisions in a timely fashion.
Our accountants keep abreast of developments in the ever-changing Australian tax and financial reporting landscape in order to guide you through the Australian compliance maze.
We help bring clarity and structure to clients’ financial affairs and goals by assisting in areas including:
Tax Planning
The complexity and detailed nature of Australia's tax laws mean that tax planning is often essential to achieve the tax and financial outcomes that you desire.
We educate our clients as to the importance of tax planning, identify planning opportunities and communicate the taxation implications of proposed business or investment transactions.
Tax Consulting
Due to the complexity of our taxation laws, common events such as the sale of a business or investment, the issue of shares in a company, or relocation overseas can all have significant taxation implications.
We provide advice on the taxation consequences of events or transactions in respect of income tax (including capital gains tax), fringe benefits tax, goods and services tax and the various state taxes.
Our advice will assist you in managing your tax affairs and help protect you from unexpected tax liabilities.
Where appropriate we work closely with our clients' overseas advisors to ensure that all relevant issues are addressed.
Business and Investment Structuring
Choosing the most appropriate legal structure for your business or investments is essential to protect and grow your assets.
The most commonly used structures are companies, unit trusts, discretionary trusts, self managed superannuation funds and partnerships. Each has its own advantages and disadvantages. Important factors to consider in choosing a structure include asset protection, tax efficiency, estate planning, financing and suitability for external investors - selecting a suitable structure requires a careful weighing of these factors.
It is very important to receive professional advice in order to choose an appropriate structure prior to commencing business or acquiring an investment. There are often substantial capital gains tax, stamp duty, and advisory costs in restructuring to a more appropriate or necessary structure.
We regularly assist clients in choosing and establishing a structure appropriate to their needs, or in transitioning to a more effective structure.
Outsourced Accounting
To achieve your business goals, you need to make decisions that are well-informed. Such decisions require access to timely and accurate financial information.
Outsourcing all or part of your finance function can be an effective way of resourcing this vital part of your business.
Your finance department should seamlessly and continuously provide your key decision-makers with timely and accurate financial information, while also meeting your on-going compliance obligations.
We act as the outsourced finance department for local and foreign owned businesses.
Should you have a need in this area, please call us to discuss your requirements.
Budgeting and forecasting
Any good business plan requires a good budget.
A budget keeps you accountable and allows you to visualize your expected financial performance and financial position as well as to determine your funding requirements.
A budget is also essential should you be seeking bank financing.
Forecasting is a tool that can be utilised as events unfold that determines the most up-to-date view of your or your business's financial future.
We regularly assist clients in preparing their budgets and forecasts.
Financing
Funding decisions are critical to the effective organisation of your financial affairs.
Whether it is a passive investment or an operating business, factors such as taxation, asset protection, estate planning and the different characteristics of debt and equity funding need to be considered.
We can assist you in exploring your financing options to best achieve your financial goals.
Salary Packaging
Ensuring that employees are competitively remunerated is important to every business.
There can be many components of an employee's package such as salary, car benefits, payment of personal expenses, superannuation, and a living away from home allowance. Each component is taxed differently, with tax usually paid by either the employee or the employer.
'Salary packaging' involves choosing the mix of components that make up an employee's package in order to provide the maximum benefit for the employee at the minimum cost to the employer. Effective salary packaging includes minimising the overall tax payable by utilising concessions available in the tax law.
The best salary packaging benefits are most commonly available to inbound expatriate employees, employees of charities and public hospitals, and employees over 60 years of age who wish to contribute additional sums into superannuation.
Employee Equity Participation Schemes
Participating in the equity of a business can be a significant incentive to an employee and aligns their long term interests with that of their employer.
The provision of equity to an employee can also be an important method of attracting and retaining quality staff without negatively affecting the cash position of the business, especially during the start-up phase.
When considering the features of an employee equity participation scheme, the tax outcomes of the scheme are a central concern. Depending on the terms of the scheme either the stakeholders in the employer or the employees (or both) may be liable to tax at inception or at a future date.
We can help you design an employee equity participation scheme for your business and advise on the tax outcomes of the options available.
Business Valuations
Are you curious about the value of your business in today's market? Are you wondering about how to price your business for sale? Or are you thinking about buying an existing business and want to research the possible market values before making an offer? Do you need a business or company valuation for legal or estate/tax planning reasons? If so, we can assist you in these matters.
Business Purchases and Sales
Buying or selling a business is a process that needs to be undertaken with a significant deal of care and planning.
Having an independent person assist you is important not only to help you plan and to cover off on technical issues but also to use as a sounding board and to gain the perspective of a person who is not personally involved in the process.
Litigation Support
Litigation support can be provided in many ways, and our approach is tailored to the personalised situation requirements.
