Implementation of a New Business
There are a number of important decisions to consider when establishing your business.
The most common structures that business owners use to establish their business are sole trader; partnerships; trusts; & companies. We will assist you with picking a structure that best suits your business needs.
We will need to ensure that your business name is accepted and registered with Australian Securities and Investments Commission (ASIC). This should be done before establishing business cards, letterheads, logos, websites or purchasing a URL.
We will establish a plan for how you will pay the tax that you will owe each time you lodge your tax return. You can either pay your tax via pre-payments, enter into instalments or put money aside for your tax bill, this will depend on your business requirements
Once your business is established, we will set up your reporting requirements for your business income and other tax information. This is done via Business Activity Statements & Income Tax Return.
In order to register to collect GST, every business needs an ABN number. Alternatively, if you are in a partnership, trust or company set up you will need a TFN from the ATO too. We will apply for these based on your requirements.
A separate business account can save you time & effort in tracking your business expenses and income. We will provide you with the information on setting up the right account for your business.
If applicable, we will register your business for PAYG withholding and help you understand the taxable amounts to be withheld for employee payments. We will ensure that your business meets all its tax obligations.
Using accounting software saves hours of time compared to handling books manually. It helps reduce the collation of redundant data and increases the accuracy of information required for business reporting needs.
We will help you choose the right accounting software to ensure that you can generate your reports accurately. We are also just a phone call away if you need any assistance with the various features of the software.
Acquisition of an Established Business
An alternative to setting up a business from scratch is to acquire a pre-existing business. However, consider getting an accountant’s advice before you purchase a company. We will ensure that you receive the true picture of a business and avoid a costly mistake by completing all due diligence on your behalf:
Testimonials
Don’t just take it from us, let our clients do the talking!
Thanks Dhash for the great work you have done for us over the years. We have never come across accountants who are so passionate about helping clients growing business like yourself.
Schmucks Bagels
I've been fortunate enough to have come across the Finite Group. I highly recommend Finite Group for their consistent professionalism, enthusiasm for business growth and knowledge.
Health in Flow Chinese Medicine Melbourne CBD
My business has greatly benefited from the strategies and insights provided by Dhash and his team. Their friendly and professional service is an important investment for my business.
Sean Walsh
Finite group has been delivering top quality accounting services for my business for the last 3 years; you should check them too!