Personal, Partnership, Sole Trader & Business Income Tax Returns
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 ABN 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
Let us help you turn your business idea into a reality!
Business Succession Planning & Exit Strategies
It is often a hard decision to retire or move on from your business when there is uncertainty about who will take it over and if the business will continue to prosper.
Succession planning is essential for any business and refers to the identification and development of successors’ of the company by matching the company's future needs with aspirations of individual employees. The benefits of having a succession plan well in advance often increases the retention of key employees and allows the business to thrive.
It may also be a process that identifies weaknesses in the potential future management structure of the business, which you can attend to before it is too late. It is important to consider not only the legal and taxation obligations but the impact on family relationship if you intend on keeping the business in the family.
Our expert staff can alleviate some of the stress associated with succession planning by proving you with tailored information on stamp duties, capital gains tax consequences, transfer of bank guarantees, the impact of full or partial control and the appropriate timing of transfer control.
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 cashflow 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 improves your bottom line.
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!
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.
Selling a Business
Selling a business can be a difficult, disheartening time and the tasks involved can seem particularly arduous. At Tenth Avenue Accounting we take the unwanted burden from you.
The services we provide for preparing to sell a business include:
Obtaining comparative results
Establishing a realistic sale price
Taking the business to the market
Negotiating with potential purchasers
Drafting a contract
Our friendly, professional team will help you obtain a maximum return for your business.