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We provide following forensic services by qualified accountants:

• Giving expert evidence in pre or during litigation proceedings or under and mediation.
• Analysis of complex financial transactions.
• Business and Share Valuations.
• Quantifying loss of earnings in contract disputes.
• Investigation and ascertaining the losses in fraud cases.
• Identifying and valuing assets in family law matters.

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We analyze and undergo each clients business and circumstances to understand there respective needs and accordingly suggest the relevant accounting method or software to be adopted.

We offer a range of Accounting, Payroll, Bookkeeping services at a very competitive rates duly supervised with qualified Chartered Accountant. Our aim is to grow our clients business and maximise their profits by providing practical, efficient solutions to their challenges.

We prepare financial statements for all types of entities including companies, partnerships, trusts and superannuation funds. Accounting however involves more than simply preparing financial statements each year, and as such, we focus on providing effective value added services to ensure your business achieves its goals. Whether a start-up or an established business, we can optimize your company’s profitability through:

• Day to day maintenance of accounts
• Financial analysis.
• Minutes.
• Superannuation guarantee.
• Maintenance of corporate register.
• Record keeping.
• Cash flow budgets & statements.
• Financial statement preparation.
• Asset restructuring.
• Business Activity Statement preparation.
• Filing of Annual Company Returns with ASIC.
• Reporting (monthly or quarterly).
• Bank Reconciliations.
• Accounts Payable & Receivable.

Our business service teams provide a wide range of administration and financial management services, including regular financial and management reports, which allow you to make informed business decisions.

PAYROLL SERVICES

Payroll is the sum of all payments made to and on behalf of employees and is critical to businesses. The primary objective of payroll processing is to ensure that employees receive all the financial entitlements they are owed in a timely manner. Poor payroll processing can be very detrimental to a business as it can significantly impact net income and lead to disgruntled staff. With an abundance of legislation, payment methods and withholding, payroll management can be a difficult and time-consuming process.

Payroll processing services include:

• General Payroll – ensure your staff are paid the correct rates and paid according to the correct hours worked.
• PAYG Withholdings – Any business that has employees or pays employees of another business must withhold an amount from payments made to them. Any payments made to a business that doesn’t quote an ABN on an invoice or other documentation must also have an amount withheld from payments.
• Entitlements– calculation of leave including holiday, personal, long service and rostered days off.
• Payroll Tax, Workers Compensation Insurance, Employment Forms – some or all of these may be needed for your business.
• Efficient and Electronic systems – these should simplify all processing and provide greater security for you and your staff
• Superannuation should be calculated and paid – this is a compulsory whereby employers are required to pay a percentage on top of “ordinary times earnings” to a nominated superannuation fund. These contributions need to be made at least once every three months and penalties for late payment are very severe.

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COMPANY A company is a distinct legal entity with its own income tax liability so a Company Tax Return must be completed for each company. A company’s income tax is calculated as a percentage of the taxable income the company earned during the financial year.

PARTNERSHIP A partnership running a business must complete a Partnership Tax Return to show all income earned and deductions claimed for expenses during the course of the business and how the profit or loss was shared between the partners. Each partner pays tax on their share of the partnership’s income so they must include their individual share of the net partnership profit or loss in their personal tax return.

SOLE TRADER Sole traders are not required to complete a separate return for their business. They use their personal income tax return to report their business income and deductions.

Medicare Levy- The Medicare Levy is a tax Australian residents pay to cover health care charges. It is payable on taxable income, in addition to income tax.

Small Business Entity Concessions:- Small businesses with an annual turnover of less than $2 million may qualify for a range of tax concessions. If your business is eligible you can use the concessions that suit you. You may have to satisfy additional conditions and will need to check whether you qualify for the concessions each tax year. The concessions are available for income tax, capital gains tax, fringe benefit tax, GST, PAYG Installments

The Australian Business Number (ABN) provides a single identifier when dealing with the tax office or other government departments and agencies. To qualify for an ABN, you must be a company registered under Corporations Law in Australia or a business entity carrying on an enterprise in Australia

GST Registration:– Your GST turnover is $75, 000 or more If You are a nonprofit organisation with a GST turnover of $150, 000 or more

Fringe Benefit Tax (FBT)

Fringe Benefit Tax is a tax paid on certain benefits provided by the employer to its employees or the employees associates in place of salary or wages. For details regarding FBT please click here

Capital Gain Tax (CGT)

Capital gains tax (CGT) is the tax you pay on a capital gain. It is not a separate tax, but part of your income tax. The most usual way to make a capital gain or loss is to sell assets like real estate, shares or managed fund investments

CGT EXEMPTIONS

If you are an individual, some assets may be exempt from CGT, including:

• Your main residence
• Your car, motorcycle or similar vehicle.
• Assets for personal use that you acquired for $10,000 or less.

There are other exemptions, rollovers, and concessions that may allow you to ignore, defer or reduce your capital gain or capital loss. In some situations using the indexation and discount methods to calculate your capital gain can also reduce this.

RESIDENTS AND NONRESIDENTS

If you are an Australian resident, CGT applies to your assets anywhere in the world. For foreign residents, CGT applies to taxable Australian property. For more details please see the Capital gains tax section on the ATO website.

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Our highly qualified and experienced business and corporate advisers act as trusted partners and project managers to help your business identify the right solutions and ensure the right outcomes. Our team recognizes that businesses in today’s marketplace are facing unprecedented change and we help your business grow in this changing landscape.

Our team will assess the performance of your business in line with your goals and needs. Following an extensive consultation review process, our experienced team develops solutions to ensure that your business is positioned appropriately to capitalize on all available opportunities. Our team will assist with the development of action plans, the implementation of proposed changes and if necessary be involved in the on-going monitoring and fine-tuning of your business.

We can assist you inter-alias in following:-

• Setting up Organization structuring including Complex Business Modeling.
• Looking after your Accounting Needs
• Business diagnostics & Business Bench Marking
• Business Strategic Plans
• Business Start-Up
• Budgeting
• Cash Flow Forecasting Management
• Analysis of proposed Business Ventures
• Financial Reporting.
• Break Even Analysis.
• Ratio Analysis.
• Company Setup and Business Name Registration.
• Managerial Accounting (including identifying KPIs & monitoring costs)
• Performance Measurement
• Preparing Accounts.
• Product / Job Costing, Special Projects.
• Due diligence.
• Management Consulting.
• Payroll Services.
• Risk Management.
• Financial reporting.
• Superannuation.
• Company Secretarial.
• A.B.N. & G.S.T. Registrations.
• Asset & Investment Management.
• Transaction Support Services.

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