The services we provide for small business fall into two broad categories: Advisory services and Compliance services.

Advisory

Choosing a business structure.

Picking the right structure for your business is essential to minimising your costs and getting the best return for your time and investments. We can help you decide what the right structure is for you:

• Sole Trader.
• Partnership.
• Private Company.
• Trust.

When you have decided on your business structure, we can set it up for you.

Some good, basic information on the considerations can be found here.

Registering for GST

If your business GST turnover is over $75,000 (except Not for Profits), your business must register for GST. Below that threshold, registration is still possible. GST can be reported on a Cash or Accrual basis; with a reporting cycle that is either monthly, quarterly or annual. We can help you decide:

• If you need to register for GST.
• Whether you should register for GST.
• What method and reporting cycle is appropriate.
  

Choosing the right approach to bookkeeping

It is a legal requirement for business to keep a complying system for keeping records, but there are many choices available. Your bookkeeping solution should be appropriate to your needs and budget. We can help you explore your options to reach an appropriate and compliant solution. That could be as simple as an Excel based template, or it could be an accounting software package such as Xero, MYOB, Quickbooks or Rounded.

We are Xero and MYOB partners, and are registered accountants with Quickbooks and Rounded.

We can help you decide how to manage your bookkeeping and whether or not you need external support to do that.

Payroll for employees

If your business has employees, including Directors of Private Companies, then your business will need to report Payroll information through Single Touch Payroll as well as reporting payroll information in Activity Statements. Keeping on top of these obligations and
making on-time payments of Superannuation and PAYG withholding is business critical. We can advise on your obligations and management options.

Tax planning

Tax planning covers a range of matters that include:

• The instant asset write-off, which can help you to time equipment purchases.
• How the Electric Vehicle FBT concessions work. Should you buy an electric vehicle in your company?
• How should you pay yourself? Wages and dividends for company directors
• How company tax rates work and the crossover between company tax and personal tax for Directors.
• Buying or selling a business – Capital Gains issues and concessions for small business.

Compliance

Compliance services are about performing the things your business has to do to meet it’s legal obligations.

Getting compliance right is essential to getting the correct income tax and GST outcome. Getting compliance done on time is essential to avoid the risk of penalties or loss of deductions.

Lodging on time and correctly reduces audit risk and minmises the risk of problems in the event of an audit.

Lodgements

The nitty-gritty of managing business administration is keeping your business compliant with lodgements of income tax, activity statements, payroll, fringe benefits tax – to name just some of the obligations a business may have.

We look after a range of ATO lodgements including Tax and BAS and collaborate with bookkeeping providers where appropriate.

We are registered Tax Agents which means we can provide Tax & BAS services for a fee. Division 7A and Director Loans

This applies mostly to Private company structures where a director has lent money to, or borrowed money from their company. If a Director has borrowed money from their company, they must meet their Division 7A obligations or risk punitive tax treatment. Documenting Division 7A loan agreements is now essential,