Tax & Accounting
Tax is one of life’s certainties, and you can be certain that New Leaf Advisory knows Australian taxation regulations and responsibilities inside and out, particularly as it stands in relation to small to medium enterprise.
We offer a full range of accounting and taxation services to ensure you are compliant and on good terms with the regulators.
Managing your own tax and accounting can be time-consuming and complex, and oversights can be costly and stressful. On the other hand, having a professional take care of your tax and accounting can make a real difference when it comes to achieving your business and personal wealth objectives.
Who we work with
- Personal/families
- Startup businesses
- Small businesses
- Mature businesses
- Family trusts and SMSFs
Our Approach to tax & Accounting
Considered, thorough and professional
At New Leaf Advisory we are completely committed to your success. Our team is known for their considered, thorough and professional approach. We pride ourselves on staying up to date with the latest technical knowledge, and our systems and processes are all designed to help you achieve your financial goals.
Our proactive approach means we work with you throughout the year in order to identify opportunities and mitigate risks as they arise.
Our tax & Accounting Services
How we can help with Tax & Accounting:
Structuring advice & implementation
Software solutions
Budgeting, forecasting and modelling
Establishing ancillary relationships - legal, financing, insurance (and more)
Monthly or quarterly management reporting and/or meetings
Financial statements
Income tax returns
Fringe benefit tax returns
Periodic activity statements
Annual PAYG compliance
Corporate secretarial compliance
Systems implementation and oversight
Thorough technical review and analysis
Tax & Accounting Case Study
Who we’ve helped
Building a Better Business Foundation
Situation
The client came to us in financial distress, facing the real prospect of an insolvency or a reconstruction circumstance. They were seeking an understanding of their historical trading performance, inferences to explain what led to their circumstance and a strategy for recovery.
Process
We met with the client and completed a deep review of their financial performance, bringing their compliance records up to date. Thereafter, we worked with the client to establish strategic trading plans, prepare cashflow forecasts and monitor their ongoing trading performance.
Results
- Acted in tax agent, adviser and ASIC agent capacity where company turnover grew by 260%+ to $3.9M+, staff numbers grew 400% and their open job limit grew from under $2M to $7.2M
- Prepared cashflow forecasts which enabled visibility and transparency of short-term cashflows
- Implemented processes for tracking and managing their trading performance relative to agreed budgets including presenting results & variance analysis
Read More Results
- Established favourable payment arrangements with ATO and key suppliers to assist in managing cashflow
- Brought client lodgement records up to date efficiently and explained key value-added findings through the course of our compliance review
- Client has achieved significant increases in their home builders warranty insurance for 2 years in a row, based on strong underlying trading results, strong governance procedures and the implementation of process improvement initiatives
- Client has established network of stakeholders supporting their business and personal affairs including solicitors, insurance brokers and banks.
- Supported the implementation of industry specific software which has enabled detailed analysis of operations and their impact on trading results including forecasting and job reporting
- We are involved in regular reviews of the business with Directors to discuss financial performance, goals/objectives, plans for the future and tactics to implement in order to achieve strategic objectives
- Successful receipt of grants and financial assistance from Federal and NSW Government during COVID-19 to support strong trading performance throughout the period despite lockdown affects and delays in cashflow
What the client said
“As we say in building, the success of your project is the result of the team you choose to surround you. As a business, we recognise the importance of engaging professional mentors who can assist in leading our business to success and guiding best-practice. New Leaf Advisory have been key to the success and growth of our business. Patrick and the team have an in-depth understanding of our company and the direction in which we are heading. We have been well-supported throughout all of our financial decision-making processes. New Leaf have been an effective soundboard and consistently offer valuable advice to ensure each step we take achieves the best financial results for our business and as individuals.”