Do you need someone to help you communicate with the bank on your behalf? Do you have complicated funding that is confusing or requires constant monitoring and communication to work the most effectively for you? Are you a sole trader with term deposits?
Kirra Consulting can develop a strong relationship with your bank and communicate with them on your behalf, freeing you to work on and in your business.
Business Procedure Reviews
Procedure reviews identify gaps in knowledge base and weaknesses in procedures, highlighting opportunities for further training that can improve your daily operations. We tailor procedures to your requirements, developing easy to follow instructions for staff which will assist you to fully utilise your resources. The procedures developed will also streamline the training of replacement staff when the time comes.
You need to ensure that all transactions between entities within your consolidated group are being reported correctly. We have considerable experience with consolidated groups and can draw on this expertise to assist in developing correct reporting, with even the most complicated of group structures.
Deceased Estate administration
Kirra Consulting can help you answer these questions and more, and navigate deceased estate administration. Kirrily’s much loved Mum passed away in 2014. As one of the Executors of the Estate, Kirrily took over the administration. She realised there is little assistance in the area of Deceased Estate administration and would like to use her personal experience to help other people and provide guidance in this difficult time.
Group Structures / Re-structures / Reviews
We have experience with large, complicated structures and can offer advice to assist you address your concerns.
Are you able to keep up with any changes that impact your business? Are you required to register for GST? Do you know how to claim GST correctly on financing arrangements for equipment? Do you know what the margin scheme is and when you can use it to your benefit? Are you considering a significant purchase for your business and not sure how that will reflect on your GST obligations? Do you have to amend a Business Activity Statement?
Perhaps all you need is some trusted advice that will answer your questions and steer you in the right direction as well as giving you comfort that you are complying with your GST obligations correctly.
Retirement Villages – Kirra Consulting has been involved for 10 years in the Management and Financial Accounting of a large Retirement Village Group in SA, Qld and NSW. Retirement Village compliance is complex and daunting. Extracting meaningful reports to understand Village and Operator performance are critical in ensuring businesses succeed.
Construction – Our experience with tailor made reporting in the Construction industry gives Managers and Owners the information to understand their construction profit and cashflows. We can assist with the additional annual reporting required by the ATO, as well as communication with your financial institution and other stockholders.
Property Development – We have clients who buy and subdivide land and sell the blocks for a profit. Some clients build houses or apartments on subdivided land, then sell them. If you have a plan for property development, do you understand if Capital Gains Tax (CGT) is applicable and how much? Is it a profit (or loss) on revenue account and what tax is payable then? Does the Margin Scheme apply? How much GST is payable and when? Our experience can help you understand how to report on the development and understand and plan to ensure the correct tax is paid.
Rental Property – Taxation Advice / Captial Gains Tax (CGT) Reporting
Kirra Consulting understands rental properties and can advise you on the tax implications of owning a rental property.
Selling your business
To this day, this is true. The only way that you don’t pay any tax is to not earn any money. As you are in business to earn money, you have no choice but to pay tax. Understanding the areas of taxation and when they apply to you is the first step. Developing a plan to manage it, including when and how to pay it, allows your business to continue growing, rather than stalling every time you are faced with a tax bill.
Taxation advice, assistance and consultation is enhanced when it is proactive and tailor-made to your individual requirements. Taxation is a substantial cost to any business and is governed by regulations outside of your control. It is imperative you receive consistent and reliable advice for all taxation including GST, Fringe Benefits Tax (FBT), Capital Gains Tax (CGT) and income tax. Do you know how long you have to keep your financial records? Do you understand your FBT obligations? Do you need someone to communicate with the Australian Taxation Office (ATO) regarding your obligations? Do you need a payment arrangement with the ATO? Do you need advice on company, partnership, trust, personal or deceased estate tax matters? Kirra Consulting has the expertise required to ensure you understand and can plan to steer your business in the direction of growth, ensuring compliance with government requirements.