We want to make that we help you to own and operate the most successful business possible. “Successful” has a different meaning to different people. For example, you may have always had a hankering to be your own boss. Or maybe you want to go in to business with family or friends.
Denis has seen businesses come and go over the years. Avoiding the pitfalls early is the key.
Your first decision will be to choose an entity, e.g. sole trader, partnership, company or trustee. You will need an A.B.N., insurances and many other items. We have a check-list ready to go – just ask! We can help you obtain the finance.
Leland will lead the charge in having you set up with the best systems, e.g. Xero Cloud Accounting, to ensure you can easily account for G.S.T., wages, and generate regular reports to see how the business is travelling. We will provide you with on-going support you need all year round, and at the crucial points at the end of each period.
GET IT RIGHT BEFORE YOU START!
Self Managed Superannuation Funds (SMSF’s)
To put it badly, we love SMSF’s!
NOTE: They are not for everyone.
We love SMSF’s;
- How to get started.
- Initial Set-up.
- Rolling over funds from your current fund. (When that’s a good idea)
- TAX PLANNING.
- Accounting and Taxation Requirements.
- Organising the independent audit for you (Mandatory for all Superannuation Funds in Australia)
– Denis is a registered Superannuation Fund auditor, however due to A.T.O. independence regulations we have these carried out by an independent specialist audit firm.
- Obtaining property finance.
- Retiring/Winding up the fund.
From 1 July 2016 accountants who do not have government authorisation with A.S.I.C. will not be able to offer most of these crucial services, they will basically only be able to complete the accounting and taxation requirements.
SMSF’s are complex, but we make it simple for you with the unique “Class” system.
Start your own SMSF today and buy a rental property or a commercial property for your business!
Apart from the day-to-day activities of your business (as important as they are), there will be points along the way where your best judgement will be called upon to make the right move. Taking a turn to the left, or to the right, is crucial.
With the benefit of the years of experience Denis brings to the table, along with good business systems that we’ve helped you set-up, the choice of “which way to turn” will be made clear.
Sometimes there are stages in a business cycle that we call “pain thresholds” – Do we expand? – Do we contract? – Do we take on that project?
When you’re self-employed, taking the wrong turn can be fatal.
It’s important that you seek advice early. If the answer does not come to you and us, we’ll help you find it elsewhere!
It is still surprisingly frequent to see family businesses in action. We are one!
It is also a very rewarding but frustrating part of our work.
THE MOST COMMON SCENARIO:
“How do we ease Mum & Dad out of the business with a comfortable retirement without leaving the ‘kids’ (usually aged, 30, 40, 50) with too much debt?”
THE ANSWER: START EARLY!
- Farmers shouldn’t leave it until they’re 60 or 70 to buy a house in town, or get used to occupying it.
- Maximise superannuation contributions.
- Have good life and other risk insurance policies, buy-sell agreements and shareholder agreements.
- TALK ABOUT A PLAN
- Have a good wills – the only certainties in life are death and taxes!
Talk to us, your solicitor, your financial advisor, but most importantly – TALK TO EACH OTHER.
Come in and have a meeting with us, or we’ll go to you!
Registered Tax Agents & Company Auditors
We hold full registration with the Tax Practitioner’s Board. We are able to prepare, and lodge with the Australian Taxation Department, every type of taxation form. Denis is a Fellow member of the TPB, the highest level of membership.
We are registered company auditors with A.S.I.C.. We audit registered clubs and other organisations.
We are registered Self-Managed Superannuation Fund auditors with A.S.I.C. However, our own SMSF clients must use an independent auditor (which we organise for you).
As mentioned in the SMSF section, we will meet new authorised A.S.I.C. advisor rules by 1 July 2016 (When the new laws come into effect).
Beware: Of individuals and firms that cannot prove they hold these registrations. You would be surprised how many unregistered tax agents are out there. You will not gain any advantage or save any tax – YOU WILL BE TREATED AS BREAKING THE TAX LAW, AS THEY ARE.
We also hold a public practising certificate with Chartered Accountants Australia + New Zealand (Formerly known as The Institute of Chartered Accountants in Australia). This body was formed in 1928, has over 61,000 members and 12,000 students in Australia. It is a founding member of The Global Accounting Alliance. Members must maintain the strictest code of ethics and professional practices. When a member does the wrong thing by a client they are disciplined, fined or have their membership revoked.
Denis is also a Fellow of CAANZ, the highest honour that can be bestowed upon a member.
We have a broad network to assist you with all facets of running a business, including;
- Financial Planning
- Audit (Incl. Superannuation Funds)
- Insolvency (Company Liquidation and bankruptcies)
- Finance – Property & Equipment