Starting a Business?
You have a skill, a talent, a product, a profession or perhaps simply an idea. This is what you want to be doing all day, every day and you are ready to take control and make this your reality. Before you take the leap, you know it’s time or its import to surround yourself with the right team.
With APA Accountants in your corner, you have access to qualified Accountants and Advisors who can guide you on this journey and provide the tools to facilitate your success.
We work seamlessly as part of your team. We are as committed to growing your business as you are; your success is our success too.
Are you a Sole Trader?
Whether you are working for someone else as a subcontractor or starting your own business as a Sole Trader, you will require basic knowledge in your taxation obligations, GST reporting, record keeping and superannuation obligations.
How APA Accountants can assist you in your new venture:
- Registrations – ABN, GST, PAYGI
- Quarterly BAS preparation & lodgement
- Year end tax return
- Ongoing advice
- Xero set up and training
- Bookkeeping support options
Establishing a company or trust structure?
Starting a new venture and wish to operate under a company or trust structure? Visit our Structure Establishment page here.
Looking for business advice?
The APA provides customised advice in the following areas of establishing a business.
Business Structure
- Advice on the most suitable way to structure your business – Sole Trader, Partnership, Trust, Private Company or some combination
- Tax consequences, Asset Protection and Practicality are the fundamental considerations we discuss in considering the most appropriate structure
- Take care of organising and establishing your chosen structure and registrations – ABN, TFN, PAYG Withholding, GST and Business Name.
GST
- When must you register versus when it is beneficial to be registered
- Requirements for preparing and submitting your Business Activity Statements
- Record keeping requirements
Income Tax Obligations
- Tax consequences for the structure of your business and how this will specifically impact you
- How to manage your personal income tax now you own a business
- EThe legitimate business-related deductions – allowable deductions in key areas such as motor vehicles, equipment, operating expenses, insurances, working from home, entertainment, business related travel, education, training and more
- How the ATO’s compliance ‘hot spots’ and benchmarking impact your business
Superannuation Obligations
- How your personal obligations for superannuation change when you are self-employed
- Your legal obligations to your employees and contractors
Staffing and Labour
- Legal differences and obligations between staff and contractors
- Compulsory work cover and workers compensation policies
- Employer obligations for superannuation and PAYG withholding tax for your employees
Record Keeping
- Recommend systems to keep track of your income and expenses (eg accounting systems such as Xero versus spreadsheets versus paper records)
- Establish record keeping systems – on premise, offsite, in the cloud
How do these areas impact you? Book an advice meeting with one of our small business specialists here.
From there, we will propose a solution that is best suited to you and continue to work with you at every step of the way. See our services page for a full list of ongoing services offered.