Accounting Archives - POP Business

If I sell the property that I live in now, do I need to pay CGT? If I had an investment property, do I need to pay CGT? What if I lived in it initially and then used it as an investment property before selling it, would that be subject to CGT?

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Tax & Accounting

Core Offerings:

Financial Statements: Preparation of accurate and compliant annual financial reports. (both Special and General Purposes)
Tax Preparation and Lodgement: Preparation and lodgement of business, trust, SMSF and individual tax returns.
Bookkeeping: Keeping your finances clear, compliant and profitable
BAS and GST Compliance: Assistance with Business Activity Statements and GST, PAYGW reporting.
Tax Planning and Optimisation: Proactive strategies to minimise tax liability while ensuring compliance.
Payroll Tax and Superannuation: Management of payroll tax obligations and superannuation compliance.
ATO & ASIC Representation: Liaising with the ATO and ASIC for audits, disputes, or compliance matters.

Niche Expertise:

R&D Tax Incentives: Assistance with claiming R&D tax offsets.
Capital Gains Tax (CGT) Advice: Expert guidance on CGT events for investments or business sales.
Fringe Benefits Tax (FBT) Advice: Navigating FBT compliance and reducing exposure.
International Tax Compliance: Navigating FBT compliance and reducing exposure.
Xero Accounts Setup: Ensuring your accounts are right from the start.
Bookkeeping Training: Valuable for businesses that prefer to manage the books themselves.

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Business Advisory

Strategic Support:

Business Structuring: Advice on optimal structures (sole trader, company, trust, or partnership, combination) focusing on tax minimisation, asset protection, and flexibility to grow/exit
Business Valuation: Independent valuation to support business restructure, sale, succession planning, or securing investment.
Start-Up Advisory: Guidance on business registration, grants, compliance, funding, and growth strategies.
Succession and Exit Planning: Tailored plans for transitioning ownership or business sale.
Business Planning and Forecasting: Creation of financial models and forecasts for growth and investment.

Growth and Efficiency:

Profit Improvement Strategies: Identifying opportunities to enhance profitability.
Cash Flow Management: Implementing systems to optimise cash flow and reduce financial stress.
Technology and Automation: Recommendations for accounting software and process automation.

Industry Benchmarking: Comparative analysis to understand market position and opportunities. (Eg: Hospitality, E-Commerce, Retails)

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External CFO

High-Level Financial Oversight:

Financial Health Check: Regular assessments of financial performance and risk.
Budgeting and Forecasting: Creation of realistic budgets aligned with business goals.
KPI Development and Monitoring: Identifying and tracking critical performance metrics.
Management Reporting: Clear, actionable reports to support decision-making.

Strategic Guidance:

Cost Management and Optimisation: Analysis of expenditure to maximise operational efficiency.

Comprehensive Finance Solutions:

Outsourced Finance Function: Full-service financial management, including bookkeeping, payroll processing, accounts payable and receivable, and cash flow monitoring.
Technology Implementation: Integration and management of cloud-based accounting systems.

Finance Team Oversight: Leadership and training for in-house finance teams or external partners to ensure financial accuracy and efficiency.

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POP Knowledge

Am I pricing my products and services correctly?

Can I use a company bank account to pay for expenses such as staff meals and personal expenses?

Do I need financial statements for my business?

How can I establish a succession plan that ensures continuity in my business when I retire or die?

How do I close my business (as a sole trader, partnership, trust, or company)?

How do I deduct the running cost of my car for my business? Is it in my personal name or in the business? Should the business pay, or should I pay?

How do I prepare cash flow statements and how do I use them as management tools?

How do I protect my family assets if I was operating my business?

How frequently do I pay superannuation and PAYG withholding to an employee?

How much is my business worth? Can you help me with a professional valuation?

How should I purchase my vehicle for my business – outright, chattel mortgage? Hire purchase? Finance lease?

How should I start my new business? (As a sole trader or a trust or a partnership or a company)

I am in the market for a bank what kinds of information should be included in the business plan I present to the bankers? How should this be presented?

If I sell the property that I live in now, do I need to pay CGT? If I had an investment property, do I need to pay CGT? What if I lived in it initially and then used it as an investment property before selling it, would that be subject to CGT?

Should I buy a vehicle in my name or my company’s name?

Should my business be on the accrual or the cash basis of accounting? Why?

What are my obligations if I have employees?

What are the key differences between debt and equity financing? Which is better for my company?

What are the tax obligations if I employed contractors?

What do I do after I cancel my GST registration? What adjustment do I need to do?

What is the appropriate method for my business to value inventory?

What is the payroll process when I pay employees every pay period?

What kinds of questions and/or comments can I expect from bankers when they review my company’s financial ratios and percentages as part of the borrowing process?

What kinds of questions should I ask when I negotiate my lease?

When do I need to register for GST?

When is a good time to refinance a commercial loan to take advantage of lower interest rates?

When paying my company’s bills, should I take advantage of early payment discounts or pay late?

When should I consider putting my company into voluntary liquidation? What are some of the major benefits and drawbacks?

Which indicators of my company’s financial performance should I be tracking? Should I calculate these key indicators, or should I ask my accountant to do it?

Am I pricing my products and services correctly?

How do I protect my family assets if I was operating my business?

How much is my business worth? Can you help me with a professional valuation?

Should my business be on the accrual or the cash basis of accounting? Why?

What is the appropriate method for my business to value inventory?

When paying my company’s bills, should I take advantage of early payment discounts or pay late?

When should I consider putting my company into voluntary liquidation? What are some of the major benefits and drawbacks?

Which indicators of my company’s financial performance should I be tracking? Should I calculate these key indicators, or should I ask my accountant to do it?

Can I use a company bank account to pay for expenses such as staff meals and personal expenses?

Do I need financial statements for my business?

How do I close my business (as a sole trader, partnership, trust, or company)?

How do I deduct the running cost of my car for my business? Is it in my personal name or in the business? Should the business pay, or should I pay?

How should I purchase my vehicle for my business – outright, chattel mortgage? Hire purchase? Finance lease?

How should I start my new business? (As a sole trader or a trust or a partnership or a company)

I am in the market for a bank what kinds of information should be included in the business plan I present to the bankers? How should this be presented?

If I sell the property that I live in now, do I need to pay CGT? If I had an investment property, do I need to pay CGT? What if I lived in it initially and then used it as an investment property before selling it, would that be subject to CGT?

Should I buy a vehicle in my name or my company’s name?

What are the key differences between debt and equity financing? Which is better for my company?

What do I do after I cancel my GST registration? What adjustment do I need to do?

What kinds of questions and/or comments can I expect from bankers when they review my company’s financial ratios and percentages as part of the borrowing process?

When do I need to register for GST?

When is a good time to refinance a commercial loan to take advantage of lower interest rates?

How frequently do I pay superannuation and PAYG withholding to an employee?

What are my obligations if I have employees?

What are the tax obligations if I employed contractors?

What is the payroll process when I pay employees every pay period?

How can I establish a succession plan that ensures continuity in my business when I retire or die?

How do I prepare cash flow statements and how do I use them as management tools?

What kinds of questions should I ask when I negotiate my lease?

Comprehensive Services to Support Your Business: Tax, Advisory, and External CFO

Tax & Accounting

Business Advisory

External CFO

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