Business Advisory

Timely data is crucial in keeping a business on track. The sooner you have the information to understand how your business has performed in the past, the sooner you can identify a problem and make a decision to resolve it in the future.

Don’t wait til year end to find out a customer account is making you a loss! Manage your business performance with our quarterly management reports and advice:

• Key Performance Indicator (KPI) reports focussed on the big ticket items
• Analysis of trading results compared to last year, last quarter and budget
• Understand past results and use them to predict future performance
• Take immediate action to fix problems and improve results.

Don’t be surprised at tax time! Take action while you can to plan ahead and optimise your annual results. We review your nine month results to March and extrapolate to estimate your full annual performance, estimating your tax liabilities so that you have plenty of time to manage your cash. We’ll recommend tax strategies to minimise your tax, for example the timing of expenses or capital assets to take advantage of the ATO’s small business concessions. We’ll also advise you on making the appropriate contributions into your superannuation fund and other investments before 30 June.

The decision to operate your business as a sole trader, a partnership, trust or company, etc can have a huge impact on your tax bill and your disposable income, as well as your reporting obligations. We’ll review your existing structure and make recommendations on the right structure for your circumstances, to save you tax and administration time.

Time to sell up? We’ll help you prepare your business for sale to make sure you are in the best position to maximise the sale price. We’ll make sure all the systems and processes are in place for a smooth transition, and review the likely tax consequences for ways to minimise tax on your sale.

In today’s economic climate cashflow forecasting is vital to ensure your business has sufficient funds to pay employees, suppliers and make loan repayments. We’ll give you regular data on the performance and profitability of your business so that you can make timely decisions on where you focus your efforts and cash. All businesses go through cashflow peaks and troughs, but if a potential shortfall is identified early, we can implement strategies to manage it.

Applying for a loan is a daunting prospect, and so much hangs on a good application. We help you to collate all of the information needed to support an application for funding and prepare it so that it has a fine chance of getting approved by your finance broker, investment banker or bank manager.

If you’d like your family business to stay in the family once you retire, or even if you are planning to sell to a third party, advanced planning is crucial to optimise your tax and superannuation position. Every situation is different so it is important to get thorough expert advice several years in advance to save you from unexpected liabilities.

You’ve got or had a successful business or career, you’ve saved and invested, and now you want your assets to yield the best possible income for your retirement. We’ll advise you on the best structure and administration of your assets so that you maximise the income, and protect and grow your assets. Along with our Self Managed Super Fund and Estate Planning Services, we’ll help you to invest and nurture your assets for your retirement, and beyond.

Keep it in the family … Don’t let everything you have worked for go to the tax office! With sufficient planning you can make sure your loved ones receive as much as possible of your legacy. We’ll work with your lawyers to ensure the best overall result for your beneficiaries, protecting your assets and utilising all the available tax free transfers and thresholds.

So you’ve got your financial statements. What do they tell you? We’ll help you to interpret your historical results and work with you to identify opportunities to improve performance and achieve your business goals. From using technological marketing tactics to improve sales performance, to ways of cutting costs or managing cash, we’ll offer you support and advice to keep you on track.

Just starting a business and unclear about what you have to do to stay on the right side of the tax office? Do you know what you can claim on your tax return, and what benefits are available to you as a small business? Have you spent money developing a new product?

Many people have bright ideas that could turn into a real money spinner. But without the correct information and systems to control the finances, analyse how well the business is doing, and meet reporting deadlines, promising businesses can turn into a drain on resources, and create a lot of stress.

When it comes to start-up or young businesses, you can trust us to give you sound advice and make sure you haven’t forgotten something that can later come back to bite you. We’ve assisted clients in many high tech, developing technology and niche industries to set up their businesses correctly, claim all the tax breaks available to them, and provide accurate and timely information on their business results to help them steer it in the right direction. New industries are our favourite challenge, and we’ll use our extensive experience and creative thinking to find the right solution for you.

Examples of areas where we can really help new businesses are:

• Make sure that you have the most efficient business structure – be it sole trader, trust, partnership or proprietary company.
• Advise you on all the paperwork you need to file to register your business.
• Advise you on all the expenses you can claim in set up mode and ongoing operations, with particular attention to Research & Development.
• Help you determine whether there are government grants or other funds available to you
• Help you set up bookkeeping, record keeping, accounting systems and procedures to capture data accurately and on time.
• Ensure your tax invoices are set up correctly and contain the appropriate information.
• Set up and manage your payroll, PAYG, BAS returns, and management accounts.
• Provide regular data to you on the performance and profitability of your business so that you can make timely decisions on where you focus your efforts and cash.

We’ll ensure you build the strong roots and foundations for your business to grow and flourish.