By providing cutting edge bookkeeping, accounting, taxation and financial solutions and using the right products for your record keeping, our team at Owen & Peach will work with you to understand your needs and help you achieve your goals, making it easier for you to manage your cash flow and meet your tax obligations.
While fiscal compliance is of the upmost importance, we at Owen & Peach also believe in offering management advice and support at all levels of our services. We are committed to offering the highest level of friendly and professional service and welcome the opportunity to work with you.
We also complete tax returns for individuals. They can be complex and there are allowable tax deductions and expense claims that can be made that you may not be aware of. We can help you minimise your payable tax and potentially increase your tax return and make sure your tax return is lodged on time. We also offer advice on:
The areas we specialise in are as follows:
Management Accounting prepares management reports and accounts that provide accurate and timely financial and statistical information. Information required by managers to make day-to-day and short-term decisions more efficiently and effectively to achieve desired outcomes such as increasing returns or delivering improved services.
Unlike financial accounting, which produces annual reports mainly for external stakeholders, management accounting generates monthly or weekly reports for an organization’s management and decision makers. These reports typically show the amount of available cash, sales revenue generated, amount of orders in hand, state of accounts payable and accounts receivable, outstanding debts, raw material and inventory, and may also include trend charts, variance analysis, and other statistics. An important aspect of Management accounting is determining what information management needs and communicating this effectively to non-financial managers.
Owen & Peach can assist with all aspects of management reporting including:
SMSF have many advantages but, equally, you need to consider the reasons why a SMSF may not suit your needs. We can help you decide if this is the right option for you.
Advantages of a SMSF:
But a SMSF is not for everyone:
Choosing your business structure is an important decision and Owen & Peach can advise on the best structure for your business. There are four main business structures commonly used by small businesses in Australia. They are:
Companies and Trusts are more complicated business structures but they have their advantages and Owen & Peach can discuss these with you. It is important to note that you can change your business structure throughout the life of your business. As your business grows and expands, you may decide to change your business structure, or to restructure your business. We can also assist with:
We will make sure your business/company meets all its obligations to ASIC (Australian Securities & Investments Commission), the ATO (Australian Taxation Office) and the SRO (State Revenue Office of Victoria). Of paramount importance is compliance but we also believe that management advice and support is a crucial aspect of corporate accounting.
We can assist with:
What is My Estate?
Your estate is made up of everything that you own. This includes your home, property, furniture, car, personal possessions, business, investments, superannuation and bank accounts.
What if I Don’t Have a Plan?
If you don’t have a Will when you die or an invalid will, this is termed dying intestate. In this situation, state laws determine how your estate will be administered. This could result in your assets being distributed against your wishes. Alongside this, the improper distribution of your assets could incur avoidable tax liabilities and other expenses for your beneficiaries.
A will generally does not cover every aspect of your assets either, such as superannuation, trust assets and jointly held assets.
Given the risks of not having a proper estate plan in place, it is important to make sure that your plan is in order. This ensures that all of your assets will be distributed efficiently, tax-effectively and according to your wishes.