Adrians offer a full range of services to private business clients. These are tailored to the specific needs of the client but typically include;
Compliance package delivering annual taxation and financial reporting including annual review of business structure and operations and presentation of group tax plan.
Preparation and/or review of BAS and GST reporting including annual reconciliation of GST position with financial reports.
Management reporting to budget and or pre set benchmarks on a monthly or quarterly basis supported by regular discussion and commentary and integrated with annual compliance package.
Project driven advice and support as identified by need (often during the annual review process) typically including;
- Financial analysis and profit improvement
- Evaluation of business strategy and advice on structuring of projects or ventures
- Advice on the comparative features and practical operation of alternative business or asset holding structures including companies, discretionary and fixed trusts, partnerships and joint venture arrangements.
- Cash flow planning and forecasting
- Tax planning and advice on tax outcomes in specific situations (such as the sale or restructure of business assets)
- Preparation of submissions to support funding proposals to banks and lending institutions. Assistance with bank reviews of client facilities from time to time.
- Interacting with Government agencies and problem solving on behalf of our clients in a range of circumstances. Regular dealings take place with the Australian Tax Office, Office of State Revenue, ASIC, Workcover, Office of Fair Trading etc
- Advice in relation to business structures and tax and accounting treatment of intellectual property including opportunities for access to R&D tax concessions
We have expertise and experience in the following industries and the compliance requirements specific to them;
- Registered builders and financial reviews required by the Building Services Authority
- Registered travel agents and financial requirements of the Travel Compensation Fund and IATA
Self Managed Superannuation
We have many years experience in the practical operation of Self Managed Superannuation Funds and offer a full range of tax, accounting and audit services.
In addition to annual compliance packages we have a particular interest in the manner in which an SMSF interacts with the other parts of a client group. This is the area where there are many opportunities for value adding.
Typically a client may operate an SMSF as part of an active corporate structure and may have specific estate planning in place. They may be working towards a succession plan in the business. In such situations the operation of the SMSF is a crucial element of the overall strategy.
Particular opportunities exist in relation to;
- Wealth creation in a tax effective and protected structure outside the business but funded by the business cash flow
- Purchase of business real property either direct or through an installment warrant facility
- Structuring of the SMSF and in particular adopting an appropriate trust deed that will deal with the wide range of legislative issues but also integrate with estate planning objectives
- Contribution strategies for both employer and member
- Structure of risk insurance products either inside or outside the SMSF and the often overlooked tax implications arising
- Positioning for the ultimate tax free investment vehicle and income stream from the SMSF in retirement
- Use of contribution and income reserves
An efficient compliance package is the cornerstone of an SMSF but they offer a range of strategies that can deliver major benefits to a private business client over time.
Where formal advice is required from a licensed adviser we take great care to ensure that such advice is sought and have access to a number of specialist advisers that can be engaged for that purpose.
Company Secretarial and Formation
We provide a comprehensive company secretarial and administration service that includes;
- Maintenance of electronic registers and corporate records
- Automatic notice of ASIC annual review – prior to review date
- Electronic ASIC form preparation and lodgment for easy update of records
- Registered office for secure service of notices
- Same day service for new company and trust deed registration through a specialist provider.
Clients use a variety of accounting packages in which they process their data and present to us up to a certain stage. At times they require assistance with this and we offer a contract bookkeeping service through a dedicated and expert bookkeeper who has been trained by us and is familiar with our requirements and the interface between the client record keeping and the formal tax and accounting preparation.
These services are available either on an ongoing or ad hoc basis and it is our experience that they can deliver significant efficiencies in the overall outcome.
We are well aware that the range and complexity of matters that can arise for even a small business to deal with may be outside the scope and expertise of any individual or firm.
For that reason we have developed a professional network that we call upon where special advice or perhaps a second opinion is called for.
In that case we will act as a project manager in identifying the need, obtaining the clients consent and then consulting a suitable person for the matter at hand. We will remain directly engaged in the process to completion and ensure that the advice is integrated into the overall client circumstances.
The professionals we consult include;
- Lawyers specializing in commercial, estate planning, trademark and patent registrations
- Financial planners and advisers
- Specialist tax advisers
- Specialist company auditors
The involvement of these highly skilled people offers a learning opportunity with enduring benefits in addition to achieving the objective of guidance through a particular problem.
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