Practice One Accountants & Tax Agents

Practice One Accountants are, registered tax agents, financial planners and business consultants of choice for the greater NSW. We actively service our clients in a cost effective manner to promote their financial growth, security and well-being.

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Accounting and Bookkeeping

In today’s rapidly changing world, accurate and timely financial accounts can mean the difference between business success and failure … or between a good business and a great business. But producing the “mere numbers” is not enough … they need to be properly interpreted! When we prepare your accounts we actively study them, prepare performance ratios and proactively look for ways to save you money or increase your profits. This will also help you to develop and grow your business into something that you can sell for profit, or pass on to the next generation.

Let us relieve you and your staff of an enormous burden by taking care of all your accounting and bookkeeping needs. We are experts at preparing of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.

We also offer set up accounting software and training for client including MYOB & QuickBooks.

We will fully discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis on all accounting, bookkeeping & payroll matters.

Taxation

We know that you are busy enough working on your business without having to worry about taxation as well. It is our job to keep up to date with the almost daily changes to taxation laws that could help (or harm) you if they are not managed properly. Practice One specialises in taxation so that you don’t have to.

At Practice One, our clients mean a lot to us … and we truly care about what happens to them. We are available whenever you need us and are always up to date in our taxation knowledge, with a highly skilled team of people who will work in partnership with you to ensure you pay only the right amount of tax and help you achieve your key objectives.

Each year we offer a detailed analysis of our business client’s affairs prior to the financial year-end to identify opportunities and potential savings before it’s too late. This review also counts towards a significant discount to their year-end tax compliance fees as 30 June is a critical time when opportunities may be lost forever if not pounced upon.

We can offer you a full range of taxation services. Our proactive approach ensures we deliver a consistent service and build solid relationships, which stand the test of time. We provide a complete tax service in all the following areas:

Preparation of individuals, companies, partnerships, trusts & SMSF tax returns
Preparation of GST (BAS), IAS PAYG & FBT
Advice and compliance relating to your GST (BAS), FBT, and Capital Gains Tax obligations
Assistance with land tax, payroll tax and workers compensation matters
Advice on the implementation of tax effective structures for asset protection and tax minimisation
Management of any ATO audits or disputes
Not only do we take care of your Income Tax Returns, but we also offer registration services for all of the main regulatory authorities, ABN, GST, TFN, PAYG, Payroll tax etc.

Business Setup & Corporate Secretarial

Australian Securities and Investments Commission (ASIC) monitor and review every Australian Registered Company, which means they need to be advised of any changes made to your Company.

At Direct Accountants and Tax Agents we can take care of all your Australian Securities and Investments Commission (ASIC) requirements, upon your request.

During the time that we are the registered agents, we hold your Company register and keep it updated. We also attend to the: -

Set up Business Entity
Change of Registered Office
Name change of Company
Change of Directors
Change of Shareholders
Minutes of Charges
Annual Review
Issuing of shares
Transfer forms
Minutes of Changes
Deregistration of Company

Wealth Creation and Retirement Planning (Financial Planning)

Financial Planning can help you plan and manage your wealth now and in the future. Starting a financial strategy early in life can give you a major advantage at each stage of your life but particularly when you come to retire.

We can give you advice on the following: -

Retirement Strategies
Insurances including Life, Trauma, and Income Protection
Mortgage Elimination
Wealth Creation
Investment and Gearing
Estate Planning

Self-Managed Superannuation Fund

We are experts in all aspects of self-managed superannuation.

Services we offer include:

Establishing self-managed superannuation funds
Superannuation audits
Advice on compliance matters
Advice on taxation benefits including estate planning, to payment of retirement benefits and death benefits
Advice on employer obligations

Virtual Financial Controller

Our Virtual Financial Controller service can help small to medium business succeed through freeing up yourself and your team to grow the business rather than get tied down in internal administration.

Practice one Accountants have a special service for expanding businesses. We can show you how to create positive cash flow in your business by:

Growing sales year after year
Launching a new product or service
Employing a new salesperson
Taking on a new contract or customer
Also we can show you how to understand the key financial drivers in your business and how they impact cash flow and profits.

Service highlights:
Where cash is being wasted
Where the cash flow bottlenecks are occurring
Potential threats to future viability
Future capital requirements
Why you´re making profits but lacking cash.
Why selling more doesn´t fix cash flow problems
Loan application success potential
The way bankers look at your business
How growth affects your cash flow


Business Consultancy

We can assist you in developing a comprehensive business plan that will help you identify and achieve your goals.

Service includes:

Business diagnostic – what’s wrong?
Vision and Strategy
Business Planning
Preparation of budget and analysis
Financial review
Process and systems analysis
Marketing plan
Customer review
Staff HR help