Frequently Asked Questions
People are becoming more business savvy these days by using a specialist business accountancy practice to set up a business, company or trust. The reason being, it’s smarter, faster and has many unrealised financial benefits!
What Documents should I bring to my consultation?
Helpful documents if available are:
Identification and Tax file number.
For an existing business it’s helpful to include relevant business documents.
Your chosen business name and or the Company or Trust name you’d like to have.
Business Plan if you have one?
No Business Plan? Don’t worry! We’ll give you a Plan Guide to work with.
What makes you better than other accountants?
We endeavor to look at the bigger picture and not just the everyday compliance issues. Our goal is to facilitate our clients to prosper and grow. We explain the pros and cons of each structure type and
the implications on IP, tax and asset protection.
We take care of the appropriate paperwork, registration and processes, so everything’s a breeze.
Why switch from my current accountant?
We focus on the solutions that tie together your objectives, preferences, lifestyle and circumstances with specialist advice to deliver the best solution.Let our Accounting specialists show you how we partner our clients to business success.
With us as your partner you are supported by a team of people who care.
Why do I need a Pty Ltd company or trust structure?
This is most common within the building and transport industries but is becoming more common in many industries.
Although a sole trader is a legal entity, tax laws can blur the line between employee and business.
A company or trust structure eliminates any confusion with current tax laws.
How long does it take to set up my new business or corporation?
What is the best way to start a new business or company process?
Alternatively, we can schedule a Skype or phone consultation, if you are unable to visit us in person.
Can I operate as a sub-contractor with my own ABN instead of a company or trust structure?
The ATO considers a sub-contractor or laborer arrangement as an employer employee relationship, not as a business to business relationship.
Accordingly, the ATO will reject an ABN application if it does not meet the business test.
Do you offer help for new businesses?
What is the cost to set up a business or company?
Do you accept Credit card payment?
How long before I can operate my new business?
Can I buy my family car in my company or trust structure and get a tax deduction?
What tax savings can be obtained from a company or trust structure?
How will I know what tax I need to pay?
Resources & Articles For Managing Your Business
Director Identification Number (DIN) Is Now Mandatory
Director IDs (DIN) is now mandatory for every company director. A DIN must be registered by the end of November 2022. A Director must apply for a DIN by November 30 2022 or face a penalty of up to $13,000.00. So getting a DIN is very important. Applications can be...
Starting A Business? Do I Need A Plan?
When planning to start a business, there are many things to consider: some financial, some conceptual, and others just plain practical. In the 80's and 90's we could count on a certain percentage of clients working as employees, transitioning to some form of business....
Stories From The Trenches – Business Principles
Today I want to share a brief story of a young couple operating a business. It is a real story about real clients that highlight planning principles in small businesses. Case Study Some years ago, a young couple operating a business asked me to look after their tax...