Business & Tax

At Advantage Partners we aim to provide you with advice when your business needs it, not just when you ask for it. We help you manage every aspect of your business and because we establish a one-on-one relationship with each of our clients, our advice is tailor-made for your business.

Listed below are the services we offer. This list is by no means exhaustive, and our team of friendly staff are more than happy to talk about any services not listed here that you might require.



Acquisitions

There are several scenarios where you might wish to attain a business enterprise. Whatever the situation, Advantage Partners can remove the stress from the process and maximise the opportunity for you.

When you are considering buying a business, we have the experience and expertise you require. Are you getting a good deal? Is the business right for you? Can you afford it? Have all avenues for future growth been investigated? We ask the right questions, and find the required answers. 

The services we provide can include:

  • A review of your goals and objectives 
  • Preparation of financial forecasts
  • Advice on the potential pitfalls and rewards involved in a merger
  • Assistance with purchase negotiations
  • Advice on financing
  • Assistance with preparing a business plan 

Drawing on the skills of professionals reduces your chances of purchasing an unsuitable business. Let Advantage Partners show you how our experience can save you stress and provide you with the great opportunity a business acquisition or merger can be!



Benchmarking

Have you ever wondered how your business performs compared to your competitors? What is their average bottom line? Are you spending enough on advertising? Are you paying too much rent? Are your staff costs too high? Surviving in today's business climate requires you to spend more time working on your business than in it. We can provide you with accurate, timely, informative benchmarking reports that enable you to: 

  • See how your business compares to your competitors
  • Understand more about how the rest of your industry works
  • Analyse the key performance indicators in your industry

Equipped with this information, we'll work with you to develop action strategies that improve your bottom line.



Bookkeeping

Modern business requires up-to-date, accurate financial information. We can relieve you and your staff of the enormous burden of all your bookkeeping and accounting needs, including preparation of your annual accounts and periodic management accounts for tax, business appraisal, and planning purposes. 

We will discuss your requirements with you and provide information relevant to your particular situation, as well as constructive advice, on a regular basis.



Budgeting

A good budget is a necessity in a good business plan. It is one of the best business tools you can have, enabling you to set financial targets and measure your performance. 

In addition to goal-setting value, budgets will often improve your chances of acquiring funding. Financiers often require budgets as a prerequisite for funding approval. 

The techniques we utilise to form financial projections enable you to consider future scenarios and provide you with goals to strive for in your business. There are many types of budgets. We can help you design the right budget for your requirements. 

Let us show you how a budget can provide feedback that helps you prepare for the future of your business!



Business Start-Up

If you have a good idea for a new business venture but don't have expertise in the legal or financial aspects of creating a new business, we can help you:

  • Decide on the most suitable structure for your business - Sole trader, partnership, or limited company
  • Prepare a business plan, cash flow projections, budgets, and trading forecasts
  • Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
  • Establish a good working relationship with your bank
  • Register for an Australian Business Number with the ATO
  • Complete registration procedures with the Australian Securities and Investments Commission
  • Deal with company secretarial issues
  • Set up a recording system for your internal use and for complying with statutory requirements



Cashflow Forecasting

Are you holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all your expenses every month? Surviving in today's business climate requires you to spend more time working on your business than in it.

We can provide you with accurate, timely, informative cash flow forecasting reports that enable you to:

  • Realise and understand when cash is available
  • Plan and prepare for expansion, stock control, and taxes
  • Analyse and anticipate key expenses

Equipped with this information, we'll work with you to develop action strategies that improve your bottom line.



Company Compliance

Company legislation requires businesses to perform several administration tasks that take up a lot of valuable company time. The last thing you need as a business owner is to be stressed out trying to ensure you comply with the Corporations Law. The possible threat of penalties for failing to keep up with the changing rules is too great a risk to take. 

At Advantage Partners we can relieve this burden for you. Our services include:

  • Company formations
  • Filing annual returns on your behalf
  • Preparing all documentation related to minutes and resolutions
  • Maintaining statutory books
  • Assistance with changes of directors, shareholders, addresses, and office details
  • Bonus issues
  • Share transfers
  • Registered office facility



Estate Planning

As unpleasant as the task is, estate planning is one of the necessities of life. Knowing your hard-earned assets will be dealt with in the manner you choose provides peace of mind. 

For business owners, a plan for succession of ownership is essential. We can assist you through the process of providing for business continuity. 

The executor and trustee of a will are required to perform a number of duties. At Advantage Partners we are happy to team up with the professionals to assist in the Estate Planning process.



Financing

A wide range of financing options exist each with their pros and cons. At Advantage Partners we know the financial market and have the experience to assist you in securing the best financing option for your personal and business goals. Our experience in the market means we can also structure debt upon acquisition to maximise tax advantages. 

Let our experienced team explore the best financing options with you to get your business closer to its goals!



GST Management

The GST system is a complex and confusing one. Consequently Advantage Partners ensures our team remains up to date with any changes, enabling us to offer you accurate advice. 

Every transaction now has an associated GST issue. We are experienced in these issues and can offer expert advice on the GST implications for your business. The GST-related services we offer include, but are not limited to: 

  • Advice on registering for GST
  • Filing and adjusting GST returns
  • ATO audit assistance



Rental Property

At Advantage Partners we have the expertise required to assist you in a variety of areas relating to residential and commercial property. 

The services we offer include: 

  • Advice on funding
  • Guidance in tax minimisation
  • Advice on ownership structure
  • Periodic reviews to ensure returns are maximised

The importance of forecasts in making a residential investment cannot be emphasised enough. We can provide you with forecasts for: 

  • Revenue returns
  • Financial position
  • Potential growth



Self-managed Superannuation Funds

There are several trust laws and legislative requirements for setting up a self-managed superannuation fund (SMSF). Typically you need to:

  • Obtain a trust deed
  • Appoint trustees
  • Sign a trustee declaration (NAT 71089)
  • Elect to become a regulated fund
  • Obtain a tax file number (TFN)
  • Obtain an Australian business number (ABN)

At Advantage Partners we provide the professional advice you need to set up your own fund and greatly simplify the process for you. 

Running a SMSF also provides many opportunities and strategies but at the same time can be very complex and compliance focussed. At Advantage Partners we can assist you in getting the most from your SMSF.



Selling a Business

Selling a business can be a difficult, disheartening time and the tasks involved can seem particularly arduous. At Advantage Partners we can help. 

The services we can assist with to sell a business include: 

  • Preparing selling figures
  • Advice on tax implications on sale
  • Attend to ASIC & ATO requirements



Software Solutions

A decent accounting system will help you keep track of your cash flow and make completing GST returns easy. Choosing the right system for your business can be difficult as there are over sixty different accounting packages available in Australia.

At Advantage Partners we can help recommend the best accounting software solution for your business.



Succession Planning

To ensure the long-term success of your business, it is critical to establish a well-designed succession plan. Coordinating the transition of your business to your successors can be an arduous process. We can help address the complex issues of business continuation, helping to remove the stress from your shoulders.



Taxation

At Advantage Partners we offer a full range of taxation services. Our taxation advice is based on proven knowledge and experience. Our proactive approach ensures we deliver consistent service and build solid relationships that stand the test of time. 

Taxation can be a major cost to your business. We will work with you to minimise your tax and help you achieve your key objectives. We provide a complete service of assistance and advice in each of these areas: 

  • Preparing activity statements and advice on tax payments
  • GST/FBT obligations
  • Advice on, and implementation of, tax effective trust structures for asset protection and tax minimisation
  • Managing any ATO audits or disputes



Trusts

A trust provides a valuable way to protect the assets you have accumulated for the benefit of others. Our extensive experience enables us to assist with the statutory requirements. Obligations for trustees can often be onerous, and our assistance in trust administration will prove invaluable.

  • Preparing and executing the vital documentation required for trust formation
  • Attending to the special requirements involved in reporting for trusts
  • Completing the trust administration:
    • Minute-keeping service
    • Annual accounts
    • Taxation
    • Asset management  
    • Income distribution