Tax Effective Business Structures.
The key to strong asset protection and tax minimisation starts with a smart business structure. With the guidance from our experienced team, we can help you position your business in the right way to avoid unnecessary tax payments and obligations.

 
Our team can facilitate an efficient structure of your business while creating even more value through services such as:
 
• Increase business cash flows
• Retain significant cash by minimising ongoing tax obligations every year
• Protect assets, home and personal property from bankruptcy or creditors
• Prepare and protect your business from high taxes when sold
• Maximise business potential and increase your competitive edge
• Build significant personal wealth and increase financial protection
 
What is a Trust?
 
A Trust is a proven tool in tax planning and minimisation. As the name implies, a Trust involves your personal and business assets being held by another person or company, for a distributed benefit to others. The entity which holds the assets is referred to as the trustee, while those who benefit from the trust are called beneficiaries. In this structure, the income received from assets held in a trust can be allocated to beneficiaries on lower marginal tax rates.
 
A Trust can also provide some protection in the event of legal action, as only assets held in your personal name can be pursued. Consequently, your business or personal assets held by the trustee in the trustee’s name are not liable even though you and other beneficiaries retain legal control of your assets.

Reduce your taxes permanently with effective tax strategies and structures.
 

In our work helping manage the finances of everyday Australians, we often see customers paying way too much in taxes. With smarter planning and more effective tax structures, our clients keep more of their money which they can utilise in a better way, to build wealth, have more reliable cash flows and most of all, enjoy life!
 

No one should be working to pay taxes. Let us guide you in finding an effective solution to decrease taxes and increase personal or business cash flows, wealth creation or general quality of life across capital gains, superannuation as well as personal, business or investment income.

 
You can count on our experts to help you:
Decrease or defer income, capital gains, business and superannuation tax
Execute effective tax strategies to increase investment returns
Profit from specific structures that use trusts and self-managed super funds to reduce taxes
Terminate capital gains tax by simple business restructuring
And so much more...

 
By creating smart structures and applying our knowledge today, you can establish proven plans to preserve more of your income and direct your savings into smart wealth building investments.

What is a Business Activity Statement (BAS)?
 
For business owners who are registered for GST, you must lodge a BAS for each period, whether it is monthly, quarterly or annually.
 
Simply put, a BAS is a report that is submitted by a business to the Australian Taxation Office (ATO). On the basis of this report, various business taxes are paid to the relevant tax office. The BAS contains details about the various types of taxes that may need to be paid by your business.
 
These taxes are:
• Goods and Services Tax (GST)
• Pay As You Go (PAYG) Withholding Tax
• Pay As You Go Instalment Tax
• Fringe Benefit Tax (FBT)
• Luxury Car Tax (LCT)
• Wine Equalisation Tax (WET)
• Fuel Tax Credits
 
Every BAS is unique to each business and may or may not include all the types of taxes mentioned above. Your business activity statement will only include detailed reports about those types of taxes that your business is eligible to pay. There are certain reporting requirements that need to be completed before you can submit a valid BAS to the tax office.
 
Lodgement and payment dates of your BAS are as follows:
 
Monthly - The 21st day of every month for the period just past
Quarterly - The 28th of October, February, April and July (In the case of a lodgement/payment falling due on a weekend or public holiday, it is due by the next business day)
Annually - (pertaining to GST return): Is sent out after the fourth quarter BAS and needs to be lodged by either 28th February or before your yearly income tax return is due, whichever comes first.
 
Sulfaro Accountants & Tax Advisors have a long history in managing Business Activity Statements. Our team can assist all types of businesses with detailed information and preparation of their BAS.

It is the nature of business that sometimes, things don’t work out. However, bankruptcy and insolvency doesn’t need to be the end of the line. The key for business owners is to identify when their business may be facing insolvency and to understand the required steps to deal with the situation successfully.
 
Our team have a deep and varied experience in this field and as a result, are able to provide business owners with the right guidance to implement a solution, so that the downside is minimised and a positive outcome is achieved.
 
Our guidance is specially tailored for the unique situation of each business and we can provide solutions in the following areas:
 
• Corporate insolvency and restructuring
• Business recovery
• Personal bankruptcy
• Recovery assistance to financiers

At Sulfaro Accountants & Tax Advisors, our years spent working with a broad cross section of companies means we are well positioned to help manage your business risks and performance.
 
Accounting
As a trusted partner for your business, our experienced team can provide an extensive range of accounting services to help manage your financial affairs, including but not limited to:
 
• Preparation of annual accounts and reports
• Preparation of management accounts
• Setup of computerised accounting systems
 
Cash Flow and Profit Projections
We can develop and devise a business cash flow strategy that is appropriate for your business and establish profit projections including the development of suitable sensitivity analyses.
 
Management information and control systems
 
We offer services that include:
• Assist management to expand in line with the growing business environment
• Suitable management information systems
• Design or evaluate internal control systems with experienced recommendations for improvement
 
Benchmarking
Your business might be travelling well, but how are you tracking against your competitors? Our seasoned team can help monitor your business performance with practical indicators such as average bottom line figures, evaluation of expenses and assessments of your marketing tools to track their effectiveness. It is integral to the long-term success of your business to dedicate time and effort to be acutely aware of how your business performs, so you can ensure your business continues to be competitive.
 
Our team can provide you with precise, informative and timely benchmarking reports that enable you to:
• Have a clear picture of how your business compares to your competitors
• Build an awareness of how your industry operates from a financial point of view; and
• Develop a better understanding of your clients and customers

Our team can take the hassle out of managing your finances with a range of services in bookkeeping, end of month management reporting, budget and cash flow preparation. Our team are experienced in providing a range of solutions, including:
 
• Set the objectives and priorities for your accounting
• Business risk and risk management planning
• Organisational structure and management
• Management of revenues and costs
• Business planning (including forecasting and budgeting)

What is a Self Managed Superannuation Fund (SMSF)?
 
A Self Managed Super Fund (SMSF) is a small superannuation trust designed with the key purpose to provide retirement benefits to its members. The members themselves act as trustees, so they are in control and run the super fund.
 
A SMSF works in the same way as other types of superannuation funds, where the trustees hold the assets of the fund for the benefit of the members. In a Self Managed Super Fund, the members are also the trustees so they hold the assets and have complete security, management and flexibility over their own superannuation.
 
As trustees, the members dictate the investment strategy, make investment decisions and deploy capital accordingly. A SMSF can invest in almost any investment product, subject to specific restrictions, including directly in commercial and residential property and foreign assets.
 
By definition, a SMSF is a superannuation fund where:
• It has four (4) or fewer members
• All members are trustees
• No trustee receives any compensation for their trustee service
 
The only exception is for cases of a single Self Managed Super Fund or an SMSF with a corporate trustee.
 
The general arrangements for a single member SMSF are:
• Two trustees: one is the member and the other a relative
• The body corporate is the trustee: the member is the body corporate sole director; or
• The member is one of only two (2) directors of the body corporate and the other director is related to the member.
 
A Self Managed Super Fund (SMSF) can also have a corporate trustee with more than one member. In this case, all members of the SMSF must be directors of the body corporate and all directors must also be members.
 
Ultimately, almost anyone can set up a Self Managed Super Fund. Talk to our experienced team about this convenient investment vehicle to ensure your hard earned super is building towards the retirement you want.