Business Advice & Strategy

Business Advice and strategy are integral in building and maintaining a successful business in today’s rapidly changing environment. This is a balancing act for many business owners.

Not to mention, how difficult it is to know where to start if you are a start-up business.

Our business advisory team is here to help!

We are highly experienced and skilled in helping you plan, choosing the right trading structure and provide you with efficient business processes.

For existing businesses, sustaining year on year growth and keeping up with forever changing government legislative compliance places huge demand for time and taking focus from daily business operations.

So, we are here to take care of the compliance and advice you on your business performance and best business practice to help you grow and achieving your business goals. We will be working closely with you, reviewing your financial position and cash flow on a regular basis, which will allow you to keep close eye on the detail while not loosing sight of the big picture.

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Business Advice – what we do for you

Business Start-ups

  • Help choose the best trading structure suitable for you.

  • Setup of new structure

  • Business registrations; GST, PAYG withholding tax

  • Accounting Software; Xero or MYOB

  • Business processes and lodgement obligations advice

  • Budgeting and break-even analysis

  • Target setting

Existing Businesses

  • Business and structure review

  • Profitability analysis

  • Business processes review

  • Cash flow analysis

  • Cash flow forecast and planning

  • Budgeting and setting up KPI

  • Tax Planning & minimisation strategies

One of the key decisions you’ll make when starting a business is its structure. It is also important to review your structure when your circumstances changed.
Your choice of structure will depend on the size and type of business, your personal circumstances and how much you plan to grow the business.
My Accounting Advantage understands the importance of this first step and will guide you through the process.

Your business structure can determine your:

  • Tax liabilities
  • Obligations as a business owner
  • Asset protection
  • Business expansion options
  • Ongoing costs and the volume of required paperwork.

There are four commonly used business structures in Australia, click the tabs to find out which one would be right for you.

  • Control and manages business
  • Personally liable for debts and liabilities of business
  • Maybe appropriate if starting business in cautious way i.e. continue working in another paid employment, work in business on a part-time basis.
  • A number of people or entities running a business together
  • Share of responsibilities and liabilities
  • Share of net income or partnership loss
  • Separate legal entity
  • Suitable for large number of participants
  • Property of company belongs to company – not shareholders
  • Shareholder liability limited
  • Proprietary company – must have at least one director
  • Corporate tax rate – 27.5% to 30% depending on source of income
  • Numerous special tax provisions applicable
  • Trustee holds legal title to trust property
  • Various ways to establish
  • Discretionary trust – Distribute net profit to family members
  • Unit Trust – Unit holders contributing money in exchange for units in Trust. Trust distribute net profit to unit holders in accordance with their ownership percentage.