Accounting & Tax - Ascot Partners

Accounting

We can attend to all your accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.

We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.

Acquisitions and Mergers

Whether you are considering buying a business or merging with another, we have the experience and the expertise you need. We will ask the right questions, and find the necessary answers. Are you getting a good deal? Is the business right for you? Can you afford it? Have all avenues for future growth been investigated?

The services we provide incorporate every stage of the process, from identifying potential acquisitions to negotiating the transaction whilst working closely with you and your team throughout the process.

Budgeting and Cash Flow Forecasting

A good budget is an integral part of any business plan. We can help you design the right budget for your needs and requirements.

As part of the process, we will help you set financial targets, measure performance and improve your relationship with your financiers.

‍The techniques we use to form financial projections will allow you to consider future scenarios and give you goals to strive for in your business.

Business start-up

Let us help you turn your business idea into a reality.

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
Prepare a business plan, cashflow projections, and trading forecasts
Assess your finance requirements and assist in the sourcing of finance
Register your new business for all statutory registrations
Organise accounting software and implementation of reporting systems

Benchmarking

Do you know how your business performs compared to your competitors? Are you spending enough on advertising? Are you paying too much rent? Are your staff costs too high?

We can provide you with accurate, timely and informative benchmarking reports allowing you to address the above and identify the key performance indicators of your industry.

Armed with this information, we'll work with you to develop action strategies to improve your bottom line.

Bookkeeping

Keeping accurate and up to date financial records is a necessary but time-consuming aspect of running a business.

We can relieve you and your staff of this burden by taking care of all your bookkeeping needs, including the preparation of your Business Activity Statements.

We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.

Cashflow Forecasting

Have you ever wondered if you are holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all expenses every month?

Survival in today's business climate requires you to spend more time working on your business rather than in the business.

We can provide you with accurate, timely and informative cashflow forecasting reports - allowing you to:

Realize and understand when cash is available
Plan and prepare for expansion, stock control, and taxes
Analyse and anticipate key expenses

Armed with this information, we'll work with you to develop action strategies to improve your bottom line.

Charitable Trusts

Charitable trusts are trusts set up to hold money or assets and carry out activities for the benefit of the community. In Australia, five main types of charitable trusts exist:

Australian charitable trust
General charitable trust
Prescribed charitable trust
Deductible gift recipient
Prescribed private fund

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Company Secretarial

ASCOT Partners can help you ensure your business is complying with the required legislation and corporations law. Our services include:

Company formations
Filing of annual returns on your behalf
Preparation of all documentation related to minutes and resolutions
Assistance in changes of directors, shareholders, addresses, and office details

Estate Planning

Estate planning allows both individuals and business owners peace of mind.

For business owners, a plan for succession of ownership is essential. We can guide you through the process of providing for business continuity to protect your business and your loved ones.

Forensic Accounting

ASCOT Partners offers Forensic Accounting assistance in legal disputes.

Our specialists all bring with them a sound understanding of legal concepts and procedures based on years of experience

Often with our intervention a dispute can be settled without a court case. In the event a court case is necessary, we can provide the information and documentation required for your case, and act as an expert witness in court.

GST Management

The new GST system is a complex and confusing one. For this reason ASCOT Partners ensures its staff are continuously up to date on the changes, and able to offer you accurate advice.

Every transaction now brings with it a GST issue. We have experience with these issues and are able to offer expert advice on the implications of GST for your business. The GST related services we offer include, but are not limited to:

Advice on registering for GST
Filing and adjusting GST returns
ATO audit assistance

Pre-Insolvency

Selling a business can be a difficult, often disheartening time. In this state the tasks involved in selling a business can seem particularly arduous. Here at ASCOT Partners we are able to relieve that stress for you.

The services we provide in relation to organising the selling of a business include:

Obtaining comparative results
Establishing a realistic sale price
Taking the business to the market
Negotiating with potential purchasers
Drafting a contract

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Our friendly and professional staff are able to assist in such a way that a maximum return for your business can be achieved.

Primary Production

Primary Production involves specific business, financial, and taxation issues, and as such requires a specialist understanding of the industry. At ASCOT Partners we keep abreast of the developments in both the farming and accounting industries, putting us in a position to provide up-to-date and accurate advice.

Our services include:

Farm budgeting and cash flows
Farm sales and purchases
Ownership structures
Preparation of financial statements
Taxation
Seasonal planning
Succession planning

Rental Property

At ASCOT Partners we have the expertise to help with the financial aspects of buying and owning residential and commercial properties.

We can assist you in the purchase, sale and leasing of property, financing and structuring the transaction.

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Research & Development Tax Incentive

We can assist with the determining your eligibility to access the R&D Tax Incentive. Once we’ve established you are eligible, we can assist with the claim to ensure maximum benefit.

Selling your Business

Selling a business can be a difficult time without the appropriate guidance and expertise in place.

We can assist with all facets of the selling process and engage allied professionals to achieve the optimum outcome.

Strategic Planning

“If you fail to plan, you plan to fail”

We'll help you establish a strategic plan that looks at where you want your business to be in the years to come and how you and your team can achieve these aims and objectives.

Succession Planning

Succession planning is critical to the long-term success of your business.

Coordination of the transition of your business to a successor can be an arduous process.

Our experienced team can address the complex issues of business continuity and provide you with the most appropriate pathway through the transition.

Superannuation

Superannuation law is complex and a tailored approach is required for each business and individual alike.

At ASCOT Partners we offer a range of superannuation related accounting and taxation services.

Staff from our sister entity ASCOT Wealth Management are available to provide you with a comprehensive range of superannuation, financial and investment advice in addition to offering risk insurance advisory services to protect you, your business and your family.

Taxation

We offer a full range of income taxation compliance and planning services covering goods and services tax, income and capital gains taxes.

We will work with you to meet your taxation obligations and help you achieve your key objectives. We can assist you with all facets of:

Income Tax
Capital Gains Tax (CGT)
Goods and Services Tax (GST)
Fringe Benefits Tax (FBT)

Trust

A trust provides a valuable way of protecting the assets you have accumulated for the benefit of others.

We have extensive experience and so are able to offer specialist advice on Trust formation, ensuring that all statutory requirements are met. Obligations for trustees can often be onerous, and our assistance in Trust administration will also be invaluable.

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We are able to:

Prepare and execute the vital documentation involved in Trust formation
Attend to the special requirements involved in reporting for Trusts
Trust administration
Minute keeping service
Annual accounts
Taxation
Asset management
Investment monitoring
Income distribution

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Contact us today to ensure that your trust is formed and administered as effectively as possible, covering all legal requirements allowing it to fulfil its purpose.

Valuations

An independent valuation provides you with answers to the questions you need to ask about the value of a business or property. Am I getting the best price for the sale of my business? Is the asking price too much?
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We can guide you through this process.