Whatever you are starting – a new life or a new business – we want to help you begin it right. Knowledge is the key, but no one can know everything so choosing a partner like UHY Haines Norton PRT can ensure you make the right financial decisions that will set you up both now and into the future.
It takes courage to take that first big step into a new life. You may have packed up the family with a dream of escaping the ‘rat race’ and building a better life.
Or perhaps a brilliant business or career opportunity has meant you have to restructure your life and obligations.
Whatever it may be, when you are taking the first step in a new challenge, its good to build strong partnerships with useful people to improve your chances of success.
At UHY PRT Haines Norton Accountants we see ourselves as just that – a partner for life.
What’s the best way to start structuring the changes? What do I need to do to get my business started? Where do I find the right book keeping support?
Build a strong foundation to help ensure the success of your new business.
There are many factors that need to be considered when selecting the most appropriate structure for your business. These include:
- Legal minimisation of tax
- Loss utilisation
- Asset protection
- Family considerations
- Flexibility, to allow for change
- Stamp duty considerations
- Ease of understanding and administration
Many of these are competing factors, and must be weighed up and prioritised in order to determine the best solution for your needs.
The structure of your business will also drive tax strategies, and our team will meet with you to regularly review your tax position and strategy options.
Let us help you raise capital for your new business.
Most new businesses require capital to fund initial operations and growth. Finance may be a more preferable solution than giving away equity.
Our team have years of experience in helping new businesses demonstrate credibility to lenders.
We can help you find the right financing option which will assist in both protecting assets and ensuring that interest incurred on debt used for income producing purposes is deductible.
Helping to ensure your business is correctly registered.
There are a number of business registrations that may be relevant to your operation. These can include:
- Australian Business Number (ABN)
- Goods and Services Tax (GST)
- Fuel Tax Credits (FTC)
- Pay as You Go Withholding (PAYGW)
- Registering your business name
- Wine Equalisation Tax (WET)
- Fringe Benefits Tax (FBT)
- Payroll Tax
We will make sure you understand your obligations to comply with all relevant legislation.
Designing an accounting system tailored to your business.
Every business is unique and needs its accounting system planned to achieve the best result for its specific requirements.
Bookkeeping is a critical step in reporting upon your business performance, whether that be for tax and compliance purposes, or to aid management and decision making. Having access to timely and accurate data requires efficient bookkeeping. As every business is unique, it’s important that the bookkeeping function is planned as a key component within the accounting system, in order to achieve the best result for its specific requirements.
Due diligence carefully considered
Big decisions require skilled and concise objective advice, especially on large transactions.
The due diligence process may take many forms, but ultimately is critical in assessing all aspects of a potential acquisition to determine what the benefits, liabilities, risks and opportunities are. It is generally the best way to ensure what the transaction price is justified and should provide the buyer confidence that they will be able to fulfil the value proposition a new acquisition presents.