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Accounting and tax advice from everyday compliance to complex challenges

Accounting and tax can seem like a burden on business owners. However, we look at it as an opportunity to unlock key financial information and use it to make better business decisions.

Our business accountants work with clients to make sure their ATO responsibilities are met and paid on time. We also make sure your tax liabilities are minimised using all the legal strategies at our disposal. Which means you don’t pay a cent more than you have to.

Think one accountant is pretty much the same as the others?  We’re here to prove you wrong. Frequent changes to tax legislation and regulations mean your business requires an accountant who is both informed and agile. Great business accountants look for opportunities, limit your exposure to risk and provide hands-on help to keep your business moving forward.

Read about some of the problems our clients have faced and see how we’ve helped.

Gus and Rebecca started their business 3 years ago as a sole trader and had successfully grown it to over $2 million in gross income per year.  A lot of small businesses start off as a sole traders. It’s easy to set up, cheap to run and requires less ongoing compliance.

Why was the tax structure ineffective for them? A sole trader structure has some drawbacks, particularly for Gus who was now turning over a substantial income and had multiple investments outside of the business. Gus and Rebecca had no asset protection and were taxed on 100% of the profits.

We transitioned them from a sole trader business to a company structure.  We also set up a family trust to buy his business premises. They now have a clear separation between their business, investment assets and personal assets. This gives them peace of mind that they their hard-earned assets are protected as much as they can be from potential business risks.

Restructuring of a business involves careful planning and consideration due to stamp duty, capital gains tax, business licensing and administration requirements. We were able to provide Gus and Rebecca with the right advice and a transition plan to minimise disruption to their business and finances.

Accounting and tax advice for business and asset structuring

John had been operating through a company for over 40 years.  He approached Marsh & Partners to assist him to get his business “ready for sale” in the next 5 years.  We implemented a profit improvement plan to help him maximise the value of his business.

On review of the accounts though, there was a large Division 7A loan account that John would have to pay back to the company.  This was not an attractive scenario for potential purchasers so we needed to work out strategies to reduce this loan. We also reviewed how much money John needed to be paid as wages so he could stop withdrawing the money from the company and creating more loans.

A lot of our new clients have approached us after getting a “Division 7A surprise” because they weren’t aware of the consequences of taking money out of their company.  Do you have a loan problem in your business? Contact us to find out how we can help.

Accounting and tax advice for Division 7A loans

George was getting surprise tax bills each year.

We put a plan in place that in May each year, we would sit down with George and his financial accounts and prepare a tax plan. We worked out strategies to legally minimise tax as businesses and tax laws change each year. We then showed him his estimated tax liability and prepared a timeline of when the payments are due.

By knowing this and preparing a cashflow budget, he knew how much money he had to invest in growing his business or creating wealth in other ways. And, most importantly, this simple strategy reduced his level of stress.

This tax planning process is now an integral part of his wealth creation plan.

Surprise accounting and tax bills

Susan approached us after receiving a letter from the ATO requiring the lodgement of outstanding Business Activity Statements (BASs) for the last 2 years.

We engaged with the ATO to obtain an extension of 2 months to allow us enough time to assist Susan with the lodgement of all the outstanding BASs.

As we expected, the ATO issued penalty notices as well as applying general interest charges of approximately $18,000. We then met Susan to obtain all the extenuating circumstances that led to the non-lodgement of the BASs.  She explained that over the last few years, she had separated from her husband and was battling stress and anxiety as well as trying to support her children and keep her business. We further engaged with the ATO and were successful in obtaining a full remission of all penalties and interest.

Susan is now lodging on time, successfully growing her business and sleeping a lot better knowing everything is under control.

Surprise accounting and tax bills

Note: These are real case studies of clients we’ve worked with, though we have changed their names to protect their privacy.

Not sure what needs tweaking in your business?

We'd love to discuss your accounting and tax needs and give you some solutions.

Accounting and tax services

ATO Compliance

We make sure your ATO responsibilities are met and paid on time. We also make sure your tax liabilities are minimised using all the legal strategies at our disposal.

ATO Negotiation

We can liaise directly with the ATO on your behalf to organise payment arrangements, lodgement extensions and help with audits or complex rulings.

Tax Structuring

We make sure our clients have the right business and investment structures to take advantage of tax minimisation and asset protection strategies.

Tax Planning

Our business accountants engage in tax planning sessions with clients each year to maximise the flexibility their business structures afford and minimise their tax position.

Division 7A

Company shareholders and directors need to be vigilant about identifying and correcting potential Division 7A issues as they arise. We help by taking a proactive approach to minimising and educating you on your personal risk and the long-term consequences.

Fringe Benefits Tax

We can offer advice on Fringe Benefits Tax minimisation strategies, alternatives and opportunities. From salary packaging advice, to the annual lodgement of your FBT returns, our accountants know the ins and outs of this complex area.

Capital Gains Tax

Capital gains tax law becomes more complex with the more assets you own. When you sell an asset, our experienced team will help you utilise concessions and business structures to help maximise your earnings.

Tax Consulting

Our Tax Consulting team combines technical strength with many years of experience to provide solutions to complex and challenging tax matters. We can assist in family law issues, audits, special rulings, R & D matters, estate planning and inter-generational transfers.

By leaving the worry and details to us, we've helped these clients focus on running their businesses.

"Pohlmans Nursery have had a close working relationship with Fred and the team at Marsh & Partners for over 19 years now. During this time, Fred has offered us accounting expertise to assist our business to grow. Fred constantly goes above and beyond by guiding our business in the right direction in making business connections for finance and family law as well as assisting on our Board of Directors.
Fred is a consummate professional and an expert in his field. Throughout our partnership with Fred and the team at Marsh & Partners they have offered us peace of mind in knowing that we have such a strong team of professionals taking care of all of our accounting needs."

Robert PohlmanPohlmans Nursery

"Our family has enjoyed a successful partnership with Marsh & Partners for over 31 years. During this time we have been provided with exceptional taxation and business strategies to help our agricultural and commercial interests and now leading into our second intergenerational transfer. It is also mutually beneficial that the Partners and associates at times travel to our home and place of business to actually see and understand our operation and needs."

Scott SeisDirector, Mungana Farming Co

"We have been dealing with Marsh & Partners for 20 years now, not only for all of our accounting needs, but also with business mentoring, which has helped us grow our companies. Fred Patten has given us incredible support and encouragement in order to help us move forward in business, and has guided us through the highs and lows that come with being in business. He and his team have made it a priority to know all aspects of our business and meet with us regularly to discuss growth & development strategies. We trust the expertise of Marsh & Partners and know we will only continue to move forward with them into the future."

Sonya JonesDirector, Concrete Partners

"Marsh & Partners have been our accountants for the past 20 years and have provided exceptional service that transcends the expected norm. They understand the importance of connection and relationships and build these ethics into their deliverables.
Marsh also appreciate the value of community and have provided pro bono assistance to our charity endED.org.au for the past 3 years."

Mark ForbesCo-Founder, endED

"Marsh & Partners and their experienced team has been working for our family owned businesses for the past two years as our accountants. Marsh & Partners knowledge and attention to detail have aided in keeping our company on track during the recent ATO audits and through a major restructure.
I extremely happy and confident in recommending Marsh & Partners accounting services.
Marsh & Partners are not only thorough, understanding and knowledgeable - they are also easy to work with and always willing to take the time to discuss my concerns and respond to questions."

Anthony FacelliCOO, Addex Group

"I have used Marsh and Partners for over twenty years. They take my worries, whether it be tax or cash flow or the pain of business compliance, and make these worries theirs. It is the feeling of relief when I hand these worries over and the feeling of certainty that they will be fixed without any major involvement from me that that keeps me going back. "

Ashley TulleyCCO, McInnes Wilson Lawyers
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