Being a great Accountant is all about achieving outcomes for clients. Whether you are looking for a simple individual tax return, or complex business reports that benchmark your business against others in your industry, it is great outcomes that we strive to achieve for all our clients and we’ve been doing it since 1999.
We are proud of the fact that we work with a wide range of businesses from Butchers, Tradesman and Cafés, through to healthcare professionals such as Doctors and Dentists as well as professional services firms such as Consultants. That’s because providing great advice, taking interest & care in someone’s business, and working hard for great outcomes, is the same no matter your industry, profession or size of your business.
Whatever your situation, or desired outcome, we can help you through the following services.
Business Accounting and Taxation
Financial Statements and Income Tax Returns for small to medium sized businesses including individuals, partnerships, companies and trusts.
Focusing on the success of your business is your priority. Included in that is ensuring that you are compliant while minimising your tax liability so that funds can remain in and be used on the business.
Businesses have different structures and different requirements. As such, regardless of whether you are a sole trader, a partnership or a trust, we will ensure you meet your obligation and can provide advice to help your business grow.
Despite all the best business planning and systems in place, sometimes there are surprises, like paying more tax than you thought you would have to. With some simple planning, Cox Sherlock Accountants can help you avoid the shock and stress of a tax surprise as well as providing options to reduce your tax position and increase your net wealth.
Establishing a Business/Buying a Business
Having the correct structure in place when you commence a business is vitally important to ensure your personal assets you have worked so hard to accumulate are protected as well as making sure that you pay the minimum amount of tax while working within the parameters established by the ATO. The other vitally important step in this process is understanding your obligations and ensuring there are no surprises when it comes time to pay your tax.
We provide the advice on the most appropriate structure and then help establish that structure. We then take you through a comprehensive step by step about what is involved in relation to running your business; essentially the A-Z of running your business.
Cash flow management and projections are critical to financial success. We pride ourselves on our ability to continuously provide sound advice in order to protect your business for the future and to minimise the risk for you and your employees.
At CSA we work with our clients to develop customised and practical business and taxation solutions, ensuring success across all key business metrics including:
- cash flow management;
- business purchase and sale advice;
- accounting and outsourced book-keeping services;
- measurement of performance improvement;
- budgeting and forecasting;
- succession planning;
- retirement preparation; and
- corporate structuring.
Whether you are after some independent advice on the value of your business, purchasing a new business or selling your business, then the valuation process is very important. Our business valuation approach uses different methodologies to arrive at a realistic value for external parties.
Improving Business Performance
At CSA we can work with you to identify a number of drivers that reflect the success of your business, and then support you in continuously measuring them against your business targets and benchmarked data and ensuring outcomes are actioned.
Our own business has been the best test case as we have monthly meetings to discuss the performance year to date against what we had budgeted on and looking at the key drivers of our business and who is and isn’t performing and what we need to do to improve.
Superannuation and Self Managed Super Funds
We have a strong alliance with licenced and highly qualified financial planners who provide excellent strategic superannuation advice to obtain the best outcomes and advantages within the complex framework that is the Australian Superannuation system. Our role is to identify these opportunities and then establish and foster the relationship. In medical terms it is like the relationship between the GP and a specialist, the best advice is being provided by the professional in that field.
At CSA we look after the compliance requirements within the ever changing Australian Superannuation System to ensure your fund remain compliant at all times.
Self-managed superannuation funds (SMSF) offer you the opportunity to increase your level of control over your financial future. We work with you to establish your funds and manage administration such as tax and legal obligations on your behalf.
Tax Audits and dealing with the ATO
The ATO is ever increasing their audit activity. Review and audit activities are a time consuming and stressful experience. We have vast experience in dealing with these including BAS and GST, income tax, fringe benefits tax, superannuation guarantee, capital gains tax. We also offer audit insurance to provide peace of mind as well as offering an economical solution to managing this financial risk.
Individual Income Tax
Preparation of individual Income Tax Returns all encompassing, including investors, sports people, primary producers etc.
We will work with you to determine exactly what you can claim, provide advice for the next financial year, and then lodge all of your paperwork with the ATO and attend to the follow-up paperwork issued by the ATO. All of these steps will ease your burden and avoid any adverse consequences from the ATO.
Contact us today to have a no-obligation discussion about how we can help you
Individual Income Tax
Preparation of individual Income Tax Returns for wage and salary earners and provision of taxation advice.
Investor Income Tax Returns
Income Tax Returns for rental property owners and larger investors and provision of taxation advice.
Business Financial Statements
Preparation of simple Financial Statements and Income Tax Returns for individual contractors and micro businesses and provision of taxation and commercial advice;
Business Income Tax Returns
Preparation of Financial Statements and preparation of Income Tax Returns for small to medium sized businesses including individuals, partnerships, companies, and Trusts together with provision of taxation and higher level commercial advice.
Business reports involving comparisons with Industry Benchmarks, and analysis of the client's business and comparisons with the Industry Benchmark.
Audit Shield Insurance
Audit Shield Insurance provides for the payment of professional fees incurred by a client when audits, reviews or investigations of lodged returns are initiated by the ATO, Federal and State agencies. The product covers you and your related entities against audit costs from a basic phone enquiry to a complete audit of lodged returns with the ATO, Federal and State agencies. To find out more information, please visit the downloadable reports.