Tax Planning
As part of our service, we also provide clients with the opportunity to have a tax plan completed each financial year. Tax plans are usually conducted between March and June each year and involve reviewing your information for the financial year to date, estimating income and expenses for the remainder of the financial year and making recommendations on ways you can legally minimise your tax obligations. By way of example, tax planning may involve the following recommendations:
- The appropriate use of superannuation contributions
- Deferring income where possible
- Reviewing income received for any income received in advance
- Bringing forward expenditure that will be incurred in the foreseeable future
- Utilising Government incentives (e.g. Investment Allowance, Small Business Write Off)
- Farm Management Deposits
- Effective use of both income tax losses and capital losses
- Negative gearing opportunities
- Expense prepayments e.g. leasing rent
- Assessment of tax benefits on fixed asset acquisitions
Our business services and taxation directors have over 200 years tax experience combined and believe strongly that proactive tax advice is truly a value adding exercise.
Tax Lodgement
State Taxation
We prepare and lodge:
- Payroll Tax Returns
- Duty related transfer documents
- Land Tax assessments
Federal Taxation
We prepare and lodge income taxation returns for all business structures:
- Companies
- Trusts
- Partnerships
- Individuals
- Self-Managed Superannuation Funds
We also prepare and lodge:
- Business Activity Statements
- Instalment Activity Statements
- Fringe Benefits Tax Returns
We can also assist with rebates that you may be eligible for such as Fuel Tax Credits and the Research and Development tax offset/refund.
Hall Chadwick QLD has developed its international tax and structuring services through our association with PrimeGlobal and can also assist with International Tax.
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Business Advisory
Over the past 35 years, Hall Chadwick QLD has provided advice to clients in many areas, including:
General Advisory
- The appropriate structure when starting or expanding your business (both onshore and offshore)
- Strategic/Business Planning for the operation of your business
- Assistance with the recruitment of key personal in the financial department, including the Chief Financial Officer and Finance Operating Officer
- Your obligations as a Director
- Assistance to companies on complying with their ASIC reporting obligations (e.g. Director or shareholder changes, allotment or transfer of shares).
- Assistance in settling shareholder disputes
- Business acquisitions and mergers including due diligence
Accounting
- The application of accounting standards
- Preparation on statutory accounts, as required by ASIC
- Preparation of consolidated financial statements for company groups
- Preparation of general purpose financial statements
- Financial software requirements in order to achieve the best management reporting data
Taxation
We offer advice in many areas of taxation, some of which include:
- Capital Gains Tax (CGT), particularly utilising available concessions
- Taxation advice regarding establishing Employee Share Plans
- Taxation advice on forming a tax consolidated group
- Methods to legally minimise your taxation obligations
- Liaising with the Australian Taxation Office in relation to payment plans and other matters.
- Research and Development tax incentive
- International tax systems, particularly throughout Asia
Cash Flow Modelling & Management
- Increasing the value of your business
- Enhancing business performance
- Minimising their financial risk
- Preparation of cash flow budgets and 3 way forecast models
- Managing daily cash flow requirements
- For a number of business clients, Andrew Perkins (Corporate Advisor) acts in an outsourced CFO role and sits on the board
Succession Planning
- We have advised a large number of clients on succession planning; this often involves passing the business and assets from one generation to the next
- We have advised and assisted clients in transferring goodwill inherent in the owner to the business, enabling a business sale
- We have provided strategies in relation to planning for an owners exit up to 5 years in advance
- We have also advised in relation to extracting wealth from the business for the owners personally
- We have advised clients on the implementation of Employee Share Plans and management buy outs
- We have advised clients on how they can safeguard assets from insolvency and marital breakdowns
- We also have close, long term, relationships with legal experts working in this field
Estate Planning
- We have advised a large number of clients on estate planning
- Tax effective methods of transferring wealth from one generation to the next including use of trust structures, etc
- Interaction between estates and superannuation
A recent successful Estate plan involved the reorganisation of a family business worth in excess of $50m, and included multiple families across 3 generations and multiple properties and business structures.
Banking & Financing
- We have assisted in multiple successful applications for facilities for a wide variety of transactions including working capital requirements and property and business finance
- We have been closely involved in family and corporate transactions and restructures
Government Programs
- We have assisted many clients with successful preparation & lodgement of applications for funding from
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- AusIndustry (e.g. Research and Development)
- AusTrade (e.g. Export Market Development Grants)
- Queensland Rural Adjustment Authority (e.g. Disaster Recovery, Productivity Loans)
Insolvency
In conjunction with member firms of the Hall Chadwick Association, we have provided advice in relation to small and medium business matters in the following circumstances:
- Independent Accountants Report for secured creditors
- ‘trade on’ or asset realisation strategies involving business assets
- Turnaround or enhancement of the performance of business enterprises
