What Does An Accountant Actually Do For My Business?
An accountant helps with more than tax. We prepare financial reports, lodge compliance documents, advise on business structures, and provide insights to improve cash flow and profitability.
How Often Should I Meet With My Accountant?
Quarterly meetings are ideal for most businesses, but at the very least you should review your position annually before tax time.
Do I Need An Accountant If I Already Use Accounting Software?
Yes. Software records transactions, but it doesn’t give you tailored advice, ensure compliance, or identify opportunities to reduce tax and improve performance.
Can You Help Both Individuals And Businesses?
Absolutely. We work with individuals, families, and businesses of all sizes in Port Stephens.
Bookkeeping
What’s The Difference Between Bookkeeping And Accounting?
Bookkeeping tracks day-to-day transactions, while accounting uses that information to prepare reports, lodge returns, and provide strategic advice.
Can You Work With My Existing Bookkeeping Software?
Yes. We’re experienced with Xero, MYOB, QuickBooks, and other systems. If you don’t have a platform in place, we can recommend one that suits your needs.
Do I Need A Bookkeeper If My Business Is Small?
Even small businesses benefit from accurate bookkeeping. It saves time, reduces errors, and makes compliance much easier.
How Often Do I Need Bookkeeping Done?
It depends on your activity level. Some businesses need weekly support, while others only need monthly. We’ll tailor the service to your business.
SMSF Audits
Why Does My SMSF Need An Annual Audit?
It’s a legal requirement by the ATO. Every SMSF must be independently audited each year.
What’s Involved In An SMSF Audit?
We review the fund’s financial statements and check compliance with superannuation and tax laws. We receive and audit report.
How Long Does An SMSF Audit Take?
Once we have all your records, audits are generally completed promptly with minimal disruption.
Do You Provide SMSF Accounting As Well As Audits?
Yes. We offer SMSF setup, accounting, and administration, but audits must always remain independent.
SMSF Setup & Accounting
Is An SMSF Right For Me?
SMSFs suit people with larger balances who want control over investments and are comfortable taking on trustee responsibilities.
How Much Do I Need To Start An SMSF?
While there’s no legal minimum, most professionals recommend at least $200,000 combined to make it cost-effective.
What’s Involved In Setting Up An SMSF?
We establish the trust deed, register the fund with the ATO, set up the bank account, and explain trustee obligations clearly.
Do You Manage Ongoing Compliance?
Yes. We prepare annual financial statements, tax returns, and keep your SMSF compliant with ATO requirements.
Small - Medium Business Advisory
What Does A Business Advisor Do For SMEs?
We provide practical guidance on planning, structure, cash flow, risk management, and growth strategies so you can make better decisions.
How Is Business Advisory Different From Accounting?
Accounting focuses on recording past performance. Advisory looks forward, helping you plan and grow with clear strategies.
When Should I Engage A Business Advisor?
Whenever you’re facing a major decision or challenge, such as growth planning, restructuring, or preparing to sell the business.
Do I Need Ongoing Advisory Support Or Just One-Off Advice?
It depends on your needs. Some prefer regular check-ins, while others seek advice for key business events. We adapt to your situation.
Individual Tax Returns
When Is The Deadline For Lodging My Individual Tax Return In Australia?
Most individual tax returns are due by 31 October if you are lodging yourself. If you use a registered tax agent like us, you may be eligible for an extended deadline.
What Documents Do I Need To Bring To My Tax Appointment?
You should bring your PAYG payment summary or income statement, bank interest details, private health insurance information, records of any investments or rental properties, and receipts for work-related expenses.
Can You Help If I Have Multiple Income Sources?
Yes. We regularly assist clients with salary income, investment earnings, rental properties, sole trader income, and capital gains. We make sure all sources are reported correctly.
Do You Offer Advice For Future Tax Planning?
Yes. We provide guidance on record keeping, timing of expenses, and tax-effective strategies to help you plan ahead and reduce stress at tax time next year.