Setting up your business structure correctly from the start is one of the foundational keys to your initial success, yet, too often, a company’s business structure is set up without much thought or forward planning. The right business structure can help you protect your assets and secure the future of your business, whilst potentially unlocking a number of positive tax benefits.
Setting your business structure up correctly from the beginning may also help you avoid frustrating (and often costly) ramifications, such as a lack of flexibility when bringing new people into your business, issues with succession planning, a lack of asset protection, and the inability to implement certain tax reduction strategies.
Whether you’re building a brand-new business or looking to restructure and expand, sage business structuring advice will be integral to your organisation’s long-term success. You can even change your business structure as your business grows, depending on what stage of your business you’re in and what your strategic plan is.
We’ll assess your business goals, your financial situation, your long-term vision for the business, and any other unique circumstances that might help us determine the best way to structure your business.
We understand that each business is very different and requires a slightly different approach. We’ll also advise you on the best timing to help you achieve your goals.
Why is it important to have the right business structure? An appropriate business structure allows you to:
The most common business structures are:
Each structure has its own distinct advantages and disadvantages depending on the unique circumstances surrounding your business. Once we’ve helped you pinpoint the best business structure to suit your needs, we’ll help you understand the implications of structuring your business or changing your business structure.
If you’re happy to proceed, we’ll assist you to implement this business structure and advise you on what your tax obligations may be.
If you’re setting up a new business, seek expert business structuring and accounting advice as soon as possible to determine the business structure that will be suitable for you and your family, both now and into the future.
Discover more of our business accounting services here.
Ready to kick-start your business?
Contact our expert business structure accounting team before you begin and start your business on the front foot. Book an obligation-free consultation here.
We work with businesses of all different shapes and sizes. We provide bookkeeping for small businesses and sole traders, but we also work with large corporations, providing fully integrated bookkeeping solutions to suit their unique needs.
Not all businesses are the same, and their needs can often change depending on which phase in the business life cycle they are currently in. Some of our clients are looking for a cost-effective solution to simply help them manage records. But many of our clients need a more extensive bookkeeping solution.
Our comprehensive bookkeeping services are run by a qualified team of tax and accounting professionals with experience across a range of industries.
Our mission? To give businesses more time to work on their businesses and the intelligent insights to make strategic business decisions and accelerate their growth.
Bookkeeping services can help businesses to:
We work with businesses in the Gold Coast and beyond to provide an integrated bookkeeping service that works alongside other services such as BAS, payroll, and tax returns. This makes our service as efficient as possible and helps make tax time a breeze.
Our bookkeeping services include:
Our bookkeeping services aren’t a one-stop shop. They are designed to be tailored to suit your specific business needs and to integrate with other complementary services.
Discover more of our business accounting services here.
Ready to kick-start your business?
Enlist our professional bookkeepers on the Gold Coast. We’ll streamline your business operations, maximise your profits and ensure compliance with the ATO.
Book an obligation-free consultation here.
A Business Activity Statement (BAS) is a form that most businesses must submit to the ATO either monthly or quarterly. It helps businesses to report on and pay GST (if registered) as well as other taxes such as Pay as You Go (PAYG) and Fringe Benefits Tax (FBT). It sounds simple enough, but it’s easy for your BAS to get out of control if you leave it for too long!
A qualified tax professional like QC Accountants can help automate the BAS process and minimise the time you spend on this admin-heavy task.
If you’re a sole trader or a small business, you might have already been preparing your business activity statements yourself. Yet, as your business grows, so, too, will the complexity of your regular business BAS reports. Incorrect BAS lodgements can be a headache and can result in penalties from the ATO down the track.
There are several benefits to having a BAS agent to assist with your business activity statements, such as:
We work closely with our clients and focus on offering a seamless customer experience for your BAS, to make it as easy as possible for you. Our automated systems will prompt you to deliver your sales, expenses and other financial records so we can lodge your business activity statements on time, every time.
Alongside our BAS accounting services, we also offer integrated services, such as:
Our business activity statement services are designed to be tailored to suit your specific business needs and integrate with other complementary services.
Discover more of our business accounting services here.
Ready to kick-start your business?
With the help of other integrated services and structured processes and software, we’ll automate your admin-heavy BAS accounting duties and take them off your hands! Book an obligation-free consultation here.
Any business with employees needs to submit Pay as You Go (PAYG) and super lodgements. These reports sound simple enough, but calculating and making these payments can be time-consuming for businesses without robust automated systems in place. Whether you’ve just taken on a new employee or you’re planning to expand, it’s important to understand how employment taxes work and what your obligations are as an employer.
PAYG business accounting is a legal requirement for all businesses. It involves withholding amounts from payments to employees, contractors (if they have agreed to it), and businesses or individuals without an Australian Business Number (ABN).
If you’re a new employer you’ll need to register for PAYG withholding, withhold the correct amounts where needed, and make payments to the ATO when required. You’ll need to report on your PAYG payments in your BAS reports and you’ll also need to provide annual PAYG reports to your employees.
When it comes to super lodgements, Businesses first need to withhold the compulsory amount of superannuation from their employees’ ordinary time earnings (OTE), which is the salary an employee earns for their ordinary work – not including overtime.
Employers are then required to make contributions to their employee’s superannuation funds at least on a quarterly basis. Failure to do so can mean the business is charged penalties by the ATO.
As you can see, PAYG accounting and super lodgements can be complicated, and failure to complete them correctly and on time can result in penalties. Not to mention, it can be a huge headache! There have also been several high-profile cases in recent years where large Australian companies have failed to pay the correct level of superannuation for employees, causing embarrassment and reputational damage. For a business just finding its feet, a situation like this could have disastrous consequences.
Employment taxes can also get tricky when you’re making payments overseas or hiring overseas employees or contractors. It makes sense to outsource these services or (at the very least) find software solutions which can streamline the process.
We can implement software solutions tailored specifically for your business, that incorporate your unique needs and any industry-specific requirements.
We also offer end-to-end payroll services, which incorporate the calculation of PAYG withholding and superannuation. But your responsibilities as a business don’t end there. You still need to calculate your PAYG and pay superannuation for your employees on at least a quarterly basis.
Most of our clients bundle their employee tax services along with our other business services, such as bookkeeping, BAS, reporting, and business advisory services.
Discover more of our business accounting services here.
If you’re struggling to make time for your employment taxes, enlist the help of our professional accountants.
To learn more, book an obligation-free consultation here.
Most of us are in business to make a difference or build an empire. But this is difficult to achieve when you’re weighed down by the burden of making difficult financial decisions or you’re doing cumbersome tax and administration work.
Business tax can be incredibly complex. Your tax needs can vary greatly depending on how you set up your business, what kind of business you’re running and what your overarching business objectives are – and how fast you’d like to achieve them! We can provide clarity on your organisation’s tax and financial obligations.
We believe that no two businesses are the same, and likewise, require solutions that take into account their needs. Our solutions for businesses can be as simple or as complex as our clients like.
A small start-up, for instance, might just require a simple software solution to help them with bookkeeping, as well as assistance with their regular PAYG, BAS and business tax returns.
However, a larger, more established business looking to scale might be looking for more comprehensive business tax solutions including bookkeeping and ongoing business advisory services to help them recognise profit drivers and amplify their annual sales return.
Either way, we take the time to understand your specific needs, business goals and financial situation, and we develop a custom package of business tax solutions to suit you and your industry.
At QC Accountants, we work with businesses on the Gold Coast to provide a variety of tax services, such as:
Whether your organisation requires company tax returns, trust tax returns, bookkeeping or a combination of services, we can customise a solution to suit your needs. We deliver Gold Coast business tax returns for a range of industries.
Discover more of our business tax services here.
Not sure how to lodge a company tax return?
Or perhaps you’re further on in your journey and are looking for solutions to help you scale your business? Enlist the help of our expert accountants. Book an obligation-free consultation here.
Business owners face unique challenges from the very beginning, and it can be difficult to find business advice that relates specifically to your certain industry or business structure. While we pride ourselves on supporting businesses with tax and accounting services, what truly adds value and helps businesses to grow and scale is our business advisory services.
The power of a business consultant is having a trusted advisor who will hold you accountable for all the things that you must do to make your business grow. Remember, we are not a family member or loved one. Our sole focus is helping you achieve your goals.
We pride ourselves on providing business advice to Gold Coast businesses in all different phases of their business lifecycle. Some are just setting up and are looking to structure their business correctly. Others are seeking solutions that will help them fine-tune their business and scale.
No matter which industry you’re operating in, navigating your next steps as a business can be challenging without strategic insights, high-level financial information and guidance from seasoned business professionals.
We can add inherent value to your organisation by providing tailored strategic advice that will enable you to optimise and enhance your business. The decisions you make in your business today have the power to fortify your organisation for the future and accelerate your growth.
Our business advisory services can assist you with:
With such a diverse range of clients, we come across a variety of business objectives. Our business advisory services can become a sounding board – but more than that – we offer measured, pragmatic advice steeped in industry insights, proven systems, and clever strategies to help you exceed your goals, fast.
Many of our clients engage in our business advisory services in addition to other business tax services, and we offer a range of integrated solutions that can start serving your business immediately.
Discover more of our business accounting services here.
If you’re looking for a more hands-on consulting resource, consider our virtual CFO service. Learn more here.
If you’re a company seeking business advisory services on the Gold Coast, explore how we can help your business reach its full potential.
To learn more, book an obligation-free consultation here.
As busy business owners, it can be difficult to commit to a long monthly meeting. Yet reviewing and reflecting leads to progress. Without regular, in-depth reporting, you’ll never be able to identify what’s working in your business – and what’s not!
Reporting is a key time to act on opportunities for saving costs or generating revenue. Equally, it’s a crucial time to identify potential problems within your business and act quickly while you can minimise any significant impact they might have.
We firmly believe that it’s not just the reports that affect change, however. It’s the proper analysis and interpretation of key findings that helps businesses to understand (and act on) trends in their business and within the wider business landscape.
At QC Accountants, we use SYFT software to distil your monthly reporting to be able to present clear, concise findings. Our aim is to simplify your reporting and extract the most pressing business insights – insights that have the potential to move your business from strength to strength.
The aim of our regular reporting meetings is not simply to present you with a ream of data. It’s to dive deep into your discrepancies, open up conversations and, ultimately, drive your business forward.
The way we structure your business reports and meetings is entirely up to you – you set the agenda. Each of our clients has different needs and, therefore, will have different focus areas that are important to them. It’s also your decision as to who will attend your business meetings, however, we recommend that only key decision-makers within your business should attend.
During our financial meetings, you can expect to:
Reporting meetings work in tandem with our other business services, as we need to be in a position to be able to affect change and adapt our strategic advice to assist your business.
Learn more about our business accounting services here.
To learn more about our business reports and meetings, reach out today to start the conversation and explore how we can help you.
Book an obligation-free consultation here.
Businesses that require more advanced advisory needs or a full finance solution often engage us to assist them in a virtual CFO capacity. Our virtual CFO services involve us integrating ourselves as part of your business and taking over most or all of the finance functions.
A virtual CFO service is a game-changer for growing businesses. Our virtual CFO role is the best of both worlds. It provides you with access to timely and accurate bookkeeping via our bookkeeping team, quality accounting reports and tax preparation through our accounting team, and a hands-on external CFO who really understands your business, driving your success and results.
Not only does this service fill the role of Chief Financial Officer within your business, but it also provides businesses with a flexible, on-demand solution to bridge the gaps at tricky moments in their journey.
Virtual CFOs focus on maintaining momentum and growth within a business while managing financial affairs meticulously. They ensure that your business is working towards its goals and, if necessary, set goals to track progress.
Our virtual CFO services take the best elements of all the rest of the services we provide to our clients and integrate them into your business, which means that you have the power of an entire accounting team at your back.
It starts with looking at your bookkeeping, data entry, debtor and creditor and creating a streamlined process to ensure that timely and accurate information is input.
We can either integrate our bookkeepers, or provide policies, procedures or training to your bookkeepers. We then get an understanding of all key stakeholders to the business (ATO, ASIC, Owners, Managers, suppliers, customers) and implement a reporting schedule that suits your business.
Our virtual CFOs work closer with you, so we know exactly what’s going right and what needs improving. We work together on a weekly or monthly basis to continue to turn the screws in your business.
Here are some common outcomes of our virtual CFO service:
The best part about our virtual CFO services is that you can engage us in a long-term capacity, or for short-term projects.
Companies typically seek an outsourced CFO for a variety of reasons. Often, businesses need a virtual CFO to:
If you don’t need a comprehensive virtual CFO service just yet or you’re looking for a more sustainable long-term solution, we can create a customised business tax service package to suit your needs.
Learn more about our business accounting services here.
To learn more about our fully integrated virtual CFO services, reach out today to start the conversation and explore how we can help you.
Book an obligation-free consultation here.
Our clients come to us looking for experienced and passionate Gold Coast accountants who offer a full range of accounting and tax services that suit their business. We can help you demystify your tax and accounting and, ultimately, take your business to the next level. We give you the confidence to make strategic business decisions that will help your business thrive.