Business accounting and taxation
Improving Business Performance
Tax consulting, compliance, planning and advice
Tax compliance and reporting regulations can often place undue pressures on business resources. The consequences of non-compliance can be excessively burdensome on small business. The taxation system is complex, and as such, businesses and individuals rely on both practical and sound advice in order to optimise their tax obligations.
DPR provide expert advice across all areas from tax compliance and planning through to the more complex matters pertaining to income tax, CGT, FBT and GST.
The issues surrounding tax compliance, whether it be relating to income tax, fringe benefits tax or capital gains tax, are at best, multifaceted. There are a range of types and characteristics within the tax structure, which have implications that are often overlooked; such as the impact of CGT on income tax, or the finer details around exemptions, dates and monetary limits that affect Capital Gains Tax. These complexities can lead to costly mistakes, which carry heavy fines and other avoidable ramifications. DPR works closely with its clients to eliminate the possibility of non-compliance outcomes.
Business accounting and taxation
An appropriate accounting software solution is essential to the financial success of any business. DPR Accountants and Advisers will help you make the right software choice for your organisation.
Efficient software systems can maximise profitability, simplify BAS statements, tax returns and effectively manage cash flow.
We have partnerships with both Xero and MYOB, and continually invest in substantial training resources to ensure we remain up-to-date with the extensive range of software options available in market. This ensures that we continue to provide your business with the most effective business solutions possible.
DPR offer a wide selection of both compliant and effective accounting and business management solutions, which can assist your business to optimise its resources.
To determine project scope we will carry out an initial systems audit including:
- Review of current accounting software solutions and provision of prescriptive advice including installation and configuration as required
- Data analysis of computerised accounts
- A detailed training plan to support in-house users of accounting software applications
- Electronic banking advice and support
Sound cash flow management is critical to financial success. We pride ourselves in our ability to continuously provide sound advice in order to protect your business for the future, and to minimise the risk for you and your employees.
At DPR we work with our clients to develop customised and practical business and taxation solutions, ensuring success across all key business metrics including;
- cash flow management
- accounting and book-keeping services
- financial services
- measurement of performance improvement
- budgeting and forecasting
- preparation of financial statements
- succession planning
- retirement preparation
- business sales advice and preparation
- corporate structuring
Our business advisory directors have earned a reputation for being specialists in the area of business valuation. Our business valuation expertise is highly regarded by a number of Canberra based legal practitioners which has resulted in our Directors acting as expert witnesses for a number of legal proceedings in the Family Court; ACT Supreme Court; Federal Court and NSW Supreme Court. We are often engaged to review the work of other experts and accountants.
Our business valuation approach extends to a number of widely accepted valuation methodologies, with a high number of engagements primarily involving income methods such as discounted cashflows and the capitalisation of future maintainable earnings.
Sound strategic and business planning combined with continuous review of processes within a business, is critical to ensure business goals are being achieved.
Every successful business must define a clear purpose, and set goals in line with realising that purpose, whilst establishing policies and procedures that continually lead to the achievement of those goals.
DPR Accountants and Advisers specialise in guiding you through this planning process, including:
- Business Analysis
- Strategic Planning and Implementation
- Review & Refinement
This process is continually evolving and must be monitored and adapted regularly in order to suit the changing economic, social and digital conditions across the corporate landscape.
Maximising your business potential requires continual analysis, planning and reporting across a range of areas from cash flow management, to performance diagnostics to succession planning. DPR has designed a Business Review and Planning program (Business Diagnostic) designed to provide you with the necessary toolkit required to plan, implement, review and thrive in today’s complex business environment. All it requires from you is the commitment of a few short hours per week.
By taking advantage of this unique and tailored business package you are taking the first step towards taking control of your business and to unlocking its true potential.
Please contact us to arrange an appointment with one of our Advisors.
Our extensive experience in advising small and medium sized enterprises has enabled us to provide expert witness support services for litigation in the Australian Capital Territory and New South Wales. Our areas of expertise for such services include:
- Shareholder disputes
- Minority shareholder claims and disputes
- Family law matters
- Economic loss reports
- Business valuation
DPR is able to discreetly and effectively manage this process, providing support and specialised advice throughout.
Improving Business Performance
Efficient and effective operations can have a significant impact on business success, and improving both of these requires an integral understanding about the key success drivers within the organisation. Only once you understand these drivers can you design the most appropriate procedures to maximise success.
At DPR we work collaboratively with you to identify a number of drivers that reflect the success of your business, and then support you in continuously measuring them against your business targets and benchmarked data and ensuring outcomes are actioned. Regular analysis and tracking of these drivers will assist in ensuring the efficient allocation of precious business resources and lead to improved business performance.
As Australia’s population ages, it is more important than ever for businesses and individuals to have access to accurate and practical Superannuation advice.
Australian Superannuation is complex, and does offer a range of significant tax advantages for saving and investing. DPR Accountants and Advisers provide relevant and detailed information and advice relating to all aspects of Superannuation planning and management across Australia.
Our Superannuation advisors include a licenced and highly qualified financial planner who is supported by several and superannuation tax advisers. As specialists in their field, we work with our clients to optimise benefits whilst managing tax implications and advantages within the complex framework of Australia’s Superannuation system.
Self Managed Super Funds
Compliance requirements within Superannuation changes on a regular basis, which can lead to costly implications if not carefully managed. DPR provides continuous advice and monitoring to ensure your funds remain compliant at all times.
Self-managed superannuation funds (SMSF) offer you the opportunity to increase your level of control over your financial future. We work with you to establish your funds and manage administration such as tax and legal obligations on your behalf.
At DPR we understand the importance of a quality trust deed and take particular care to ensure that all deeds are tailored in the most appropriate way possible.
Xero assistance and advisory
Xero set up and conversion requirements vary from business to business. DPR Accountants and Advisers work closely with you to ensure successful outcomes for your specific industry and structure. We provide you with expert advice as well as the reassurance of knowing that your transition to Xero will be managed smoothly by one of our Xero Certified Advisers.
We offer a range of different Xero packages to suit different budgets, ensuring that you receive the appropriate level of support for your business.
With Xero you are not locked into a package. There are a range of Add-On packages available to you throughout, and we will work with you on an ongoing
basis to ensure your changing needs are being met. We work closely with Xero to ensure we are able to provide the most up-to-date support available.
We have a number of Xero certified advisors who are ready to commence working with you to ensure you realise the full potential from this exciting new software.
MYOB assistance and advisory
Our first step is to assess your current systems, recommend a software solution and work with you to ensure your business maintains accurate record keeping/accounts.. We provide support from the outset; from the install of software to the set up of company files using your business specifications, all the while ensuring that our processes provide maximum value with monthly or quarterly management reporting.
If you’re a start-up business or require extra support as you grow, we can assist you in the establishment and implementation of your accounting systems with you and support your business throughout.
As MYOB Professional Partners, we are able to pass on our access to wholesale rates when it comes to purchasing software licenses.
We can also advise you how to manage your ATO obligations, so as to avoid any un-necessary surprises.
We will work with you throughout the entire process ensuring that all necessary obligations are met accurately and on time.
Financial/taxation aspects of divorce and family disputes
DPR provides specialised support through the stressful process of divorce. Separation and divorce is a complex process which requires an extensive support network of friends, family and professionals, and trust is a critical component. Our role is to help you manage this challenging time, and to keep your finances in control, so that you can get on with life after the settlement.
Understanding the taxation and financial options, outcomes and issues in divorce proceedings are vital for ensuring that you apply the most effective approach to suit your circumstances.
DPR Accountants and Advisers will work with you throughout the entire process; ensuring your financial statements are prepared, your finances are effectively managed in the interim, and that you fully understand your options and obligations.
We will work collaboratively with your legal team in order to help you secure your financial future.
Our highly experienced team of professionals can provide tailored advice to suit your specific needs; assuring a sustainable competitive advantage and delivering increased returns for your stakeholders through he provision of a range of diverse services to the SME market , including:
- Mergers and acquisitions
- Business valuations
- Vendor finance arrangements (if applicable)
- Selldowns to employees
- Provision of information for business sale documents
- Review of Sale and purchase agreements
- Liaison with legal advisers and other transaction advisers
- Bank renegotiations and facilities
DPR Accountants and Advisers are equipped with expertise and experience in State and Federal employment taxes and levies.
We provide advice across a wide range of complex legislative areas including:
- Pay-As-You-Go (PAYG) withholding
- Payroll tax
- Fringe Benefits Tax (FBT)
- Superannuation guarantee
We can assist your business by minimising compliance risks and providing you with the assurance that you will remain compliant despite the ever-changing legislative and compliance landscape.
We provide a breadth of services whilst being able to provide advice around specific technical and compliance issues pertaining to employment taxes in all states and territories, ATO and revenue office audit management as well as comprehensive employment taxes prudential reviews.
Our experience across the range of complex and cross-jurisdictional taxes allows us to add value through the identification of tax saving opportunities and minimising exposure, whilst assisting you to ensure you remain compliant.
Our team provides advice and support for planning and structure relating to both employees and corporate entities, as well as consulting services in the areas of salary-packaging and employment taxes.
We are able to work with our clients to identify tax saving opportunities through the creation of innovative solutions for businesses whilst ensuring compliance requirements are always met.
1. Cashflow Advice
It’s a simple statement to say that you’ll never get ahead if you spend more than you earn, yet in many households spending more than you earn is what happens on a regular basis. We work with you to develop a budget, one that suits you and your lifestyle and will set you on the right path to live the life you want now and in the future.
2. Debt Advice
There are different types of debt – good and bad. We can explain the difference and make sure that – where possible – your debt is working for you and your future.
- Credit cards
- Investment loans
- Business loans
- Personal loans
- Margin loans
3. Savings Advice
The benefits of a good, regular savings plan cannot be stressed enough. How do you start? How much can you afford? What will your short-term, medium-term and long-term goals be? What will your savings milestones look like? As your financial coach, we can help you develop a plan that will work for you and will also help you meet the goals you set together.
4. Investment Advice
Saving is one thing and without the discipline of putting something aside it won’t be possible to invest. Investing is something else – investing is making sure your money is working as hard as possible. Where to invest is difficult to know. We are qualified and have the experience to help you navigate the myriad opportunities available to give you the best options available for you.
5. Goals Based Advice
There is a way to achieving your goals. First is to talk through and understand your goals. Next is to make a plan – the plan should be clear in showing how you are intending to reach these goals. The plan may change over time as your priorities change and goals need to adapt to changes of mind or circumstances. We can work with you in adapting and reshaping your plan to meet these new goals. But without a plan in place reaching your goals will be much more difficult.
6. Ongoing Advice
Making a plan is one thing. Sticking to it is quite another. It’s much more difficult and takes willpower and perseverance. Like working out, a coach is better than doing it all alone. A financial adviser is your financial coach and will help you stick to your plan. This doesn’t mean not being flexible but it does mean making sure you stick to it even when temptations abound and times become tough.
7. Retirement Advice
We are here to make sure that – using the right plan – you are able to make an informed decision about when it’s the right time for you to retire, and with the retirement lifestyle that you desire.
Your plan should ensure that your money is ready when you want it and you can take it in the best way possible to maximise your income in retirement and continue to do the thing you most enjoy doing.
Retiring is not the end of life as your know it but the beginning of life the way you want to live it.
8. Personal Insurance Advice
Building your assets is vitally important for your future, but protecting your assets is equally important. How much protection is enough?
If something happens to you – or your partner – how will you continue the life you are used to – how much will it cost to maintain your lifestyle for the present and the future? If you don’t have enough insurance, your life may face drastic and unpleasant changes just at a time when this would compound other difficulties facing you.
It is good to know that whatever happens, your life – or the life of your family – can continue as well as possible in changed circumstances.
9. Estate Planning Advice
Families are at the heart of financial planning. Making sure that everyone is looked after when one member dies is something that can make a huge difference to the financial position of the rest of the family. We can ensure that your estate is structured effectively so that when something does happen to you or a loved one – it will upset you but not your financial plans.
This is even more important when a small business is involved.