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!

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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?

In our modern Australian economy many contractors prefer sub-contractors to operate in a Pty Ltd company or trust structure rather than a sole trader or partnership.

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?

In most cases within 90 minutes. We make things easy and simplify everything for you, actually we do it all for you too.

What is the best way to start a new business or company process?

We encourage you to schedule an appointment for a consultation at our office. At the same time we can complete your applications and registrations while you are here.
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?

Maybe. For an individual to apply for an ABN they must be operating a business.

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?

Absolutely we do. For business start-ups we offer a Business Startup Package, including business structure for Company formation, Shelf Company and Family Trust establishment, all ATO registrations, all necessary legal documents and our unique 13 point Business Startup Checklist.

What is the cost to set up a business or company?

In reality you have many options and different structures to consider, we will provide an accurate total price once we have established your individual business needs. We are able to offer very competitive all inclusive packages with our unique 13 point Business Startup Checklist offer.

Do you accept Credit card payment?

Yes we do. Our clients may also pay by EFTPOS or Bank transfer if preferred.

How long before I can operate my new business?

You can operate your new business as soon as all registrations are complete, you could actually operate straight away today!

Can I buy my family car in my company or trust structure and get a tax deduction?

Yes, a family car and all it’s running costs can be deducted in a company or trust structure. Although FBT regulations will tax that benefit, overall tax benefits can be obtained.

What tax savings can be obtained from a company or trust structure?

Tax regulations can be complex but generally tax savings can be obtained from a company or trust structure.

How will I know what tax I need to pay?

We are a registered Tax agent and certified accountants who specialise in new individual, family and corporate businesses tax reporting obligations. We will take care of all of your tax reporting obligations and advise you how to stay on track to succeed.

Resources

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