Accounting & Taxation
ACCOUNTING SERVICES
Accounting
Our team of qualified Accountants can assist you with your bookkeeping enquiries through to the preparation of statutory financial statements regardless of the manual or computerised general ledger software you use. Once completed, our highly trained people are always happy to spend the time to explain your financial results in plain English.
ASIC Returns
We act as the Registered Office for most clients and ensure all ASIC (Australian Securities & Investment Commission) forms and paperwork are prepared and lodged on time. Most ASIC forms have lodgement deadlines with significant penalties if lodged or paid late. Our integrated software captures your changes and keeps your company up to date for one low yearly fee.
Board Meetings
The Board Meeting process generally takes two hours, commencing with a review of the previous minutes, followed by a detailed review of the Board Package which we produce. This package includes your financial statements and also a tailored list of KPI (Key Performance Indicators) Ratios on your business plus various graphs to explain and educate you on exactly how your business is performing. We advise and educate clients on the good, the bad and the ugly so we can look for solutions and continually strive to improve your sales, cash flow and profit.
The rest of the Board Meeting is a strategy session where we discuss all of the issues, challenges and opportunities which face business owners every day. It is this open flow of ideas where we add the most value. We facilitate many Board Meetings and we see the same issues come up in every business, so we are perfectly placed to give advice on how to solve a problem or better still, how others have faced the same challenge and succeeded.
Our Board Meeting process gives business owners the opportunity to have one of our Accounting Partners facilitate a monthly or quarterly Board Meeting to educate Directors and Business Owners on good corporate governance.
BSA Licence
We can assist you with all of your BSA (Building Services Authority) reporting needs. Our extensive understanding of the BSA system will ensure your Applications are lodged on time and we can alert you to potential licensing issues before they become a problem.
Budgeting
“If you fail to plan; You plan to fail”. The Quill Group provides its clients with a Business Budget spreadsheet which allows clients to easily complete a 12 Month Forecast of how their business should perform. This template computes your monthly profit or loss, cashflow forecast and graphs this data to make it even more understandable. Clients are also provided with a 10 Week Cashflow spreadsheet template which assists them to easily see where their cashflow is every day.
Business Development
As business advisors we place a strong emphasis on showing you how to improve your sales, cash flow and profit. In fact we have designed a Board Meeting process which will do just that.
Most business owners are entrepreneurs looking to grow their business and they often put forward ideas in our meetings. Rather than squash them, we look to help them. Most importantly we keep them focused on controlled growth and help them manage their cashflow needs during that growth whilst firmly ensuring they stay focused on the real game, which is their core business.
Due Diligence
For potential purchasers of a business, our due diligence procedures give buyers' assurance that the business they are purchasing is performing as suggested. We also assist clients wanting to sell their business to ensure it is “Sale Ready” and will stand up to a rigorous due diligence process.
Entity Structuring & Setup
We can advise which structure to use in various situations and create the best legal structure for your individual needs. This is vitally important to get right from day one when you commence your business. However, we can also do a health check on your existing legal structure to ensure you are not exposing your personal assets or paying too much tax. In most cases, new clients are amazed just how exposed their assets have been or how some careful amendments to their legal structure can reduce the amount of tax they are paying. Our expert knowledge in this area often allows us to recommend a better way.
TAXATION
Capital Gains Tax Planning
If you have to pay tax, this is one of the best taxes to pay. Allow us to show you how, with careful planning and timing, you can minimise your capital gains tax.
Fringe Benefits Tax (FBT)
There are many simple strategies to help minimise FBT. Planning in this area usually yields significant benefits. Compliance for FBT is also generally a nightmare for small business as it is a widely misunderstood tax. Allow us to assist in preparing your FBT returns to ensure you only pay what you have to.
Goods and Services Tax (GST)
Our team can assist you to with the preparation and lodgement of your BAS (Business Activity Statement). Alternatively, if you already do this internally yourself, we are always happy to review it and lodge it on your behalf which gives you peace of mind and often time extensions to pay this tax.
Income Tax Planning & Advice
As part of your overall wealth and investment planning, tax planning can assist you in reaching your goals by ensuring that you are only paying what you legally need to. A dollar saved, is a dollar that you can invest or reduce debt. Our advice is very cost effective given that an investment in tax planning advice can yield significant savings.
Income Tax Returns
All types of Tax Returns are handled for individuals, small business to large business, family trusts, unit trusts and superannuation funds.