The Assignment: Assisted a Self-Managed Superannuation Fund that had numerous breaches of the SISS Act.
Action Taken: Negotiated enforceable undertakings with the Australian Taxation Office and guided the Trustees through the process.
End Result: No penalties were imposed by the ATO. Could have been 50% of assets plus interest.
The Assignment: A new client came to us with numerous outstanding Tax Returns and Business Activity Statements.
Action Taken: Negotiated with the ATO on the grounds of illness. Prepared and lodged the outstanding Tax Return and Business Activity Statements by date agreed with the ATO.
End Result: Penalties in excess of $60,000 waived. Tax Returns and Business Activity Statements lodged.
The Assignment: Assist client in purchase of a residential investment property for their Self-Managed Superannuation Fund
Action Taken: Set up Holding Trust for SMSF and gearing documents for loan by SMSF. Worked with client and 3rd parties to make a complex transaction smooth for the client
End Result: Purchase complete in record time.
The Assignment: Work with client from business set-up to sale.
Action Taken: Worked with client to set up the business. Helped with their efficiency and profitability for 16 years until business was sold
End Result: Business sold to private equity group with maximum profit and minimum tax implications for client.
The Assignment: Transition a client from sole trader to company.
Action Taken: Advised client to make the move from sole trader to company.
End Result: Company provides client with lower tax bracket for profits and limits the Directors liability.
The Assignment: Advise client on best accounting software package for their business.
Action Taken: Assisted to migrate client from a complex accounting software package (designed for accountants) to Xero, an easy to understand cloud-based accounting package.
End Result: Client now has real-time financial reports on their smart phone and tablet as required. They are able to run their small business efficiently and know the state of their cash flow at any point in time.