SME Business Planning
Budgeting and Cash flow forecasting
Taxation planning for Toowoomba business involves more than just tax returns. Understanding how your business is tracking, and whether cash reserves can handle the most robust trading conditions is essential for every business owner, be it a ‘start-up’, or a mature business trading over many years. A good budget is a necessity in the modern trading environment and can be a business owner’s best friend and a great tool to set financial targets and measure performance.
Are you looking to fund business growth through some timely and strategic lending? A well-planned budget will assist every loan application and is often a prerequisite with many lenders.
Are you holding too much inventory? Is it the right time to expand your business? Are you going to have enough cash to pay all your monthly expenses? Surviving in today’s business climate requires spending more time working on your business than in it.
Accurate, timely, and informative cash flow forecasting reports enable you to understand when cash is available, plan for expansion, control stock, analyse key expenses, and undertake effective tax planning.
The skilled team at Moore Lewis & Partners Toowoomba small business accountants will develop financial projections, scope out future scenarios, and provide you with strategies and solutions to negotiate the challenges of everyday business. There are many types of budgets and Moore Lewis & Partners will help design the right budget for your business.
Starting your own business in Toowoomba or anywhere in South West Queensland can be an exciting and challenging time. There are many things to think about as you turn the coldness of a vacant shop or office into a vibrant and living enterprise. Ordering stock, erecting shelves, setting up office equipment, and developing something resembling a marketing strategy are all top of mind.
However, there are a few things in the area of small business accounting that need attention so you’re both legally compliant and have efficient back office systems in place.
These potentially include –
- GST registration,
- BAS and FBT planning,
- PAYG withholding
- ABN registration,
- bookkeeping systems,
- and most importantly establishing the right business structure.
There are substantial differences and implications when choosing to trade as a sole trader, partnership, family trust or company, and you need the right advice from Moore Lewis & Partners small business accountants in Toowoomba.
Finance and Lending Strategy
There is often a real sense of achievement when a business owner reaches the point of wanting to invest in the growth of their business, and why not! Investing for growth usually involves seeking out appropriate finance options, and there are many things to consider before taking that step.
The lending market in Toowoomba is crowded with a sea of finance providers offering different rates, products, and features as well as varying conditions and loan structures. The skilled team at Moore Lewis & Partners know the lending market and will provide advice and support, to seek out and secure the most appropriate lending arrangements for your personal and business needs. Putting in place the right lending structure with effective taxation advice can also maximise any taxation advantages. Moore Lewis & Partners – part of the building blocks to your business success.
With over 60 different accounting and bookkeeping software packages available to Toowoomba businesses, it can be challenging to choose the right one for you. Having the right package will inject a range of efficiencies into any business saving substantial time with cash flow planning, accounts and revenue management, taxation planning, payroll, BAS and GST processing amongst others.
MYOB, Reckon, Xero, and QuickBooks are the main packages used by Toowoomba businesses.
Moore Lewis & Partners small business accountants invest considerable resources in ongoing staff training across all the popular accounting and bookkeeping packages, so we remain at the top of our game providing you with the right advice and support.
Farming & Primary Production Accounting Services
Budgeting and cash flows
Business and Tax planning for farming and primary production enterprises in the Toowoomba Region and South West involves more than just tax returns. Understanding how your farm is tracking against industry benchmarks and normal accounting standards during times of drought, flooding, feed shortages, price spiking, and low cashflow between harvests helps you operate during even the most challenging trading conditions. Budget and cashflow management are an essential tool for every farm owner and operator, and you need accountants who understand farming and rural industries.
If you’re looking to re-stock or fund production growth through the acquisition of additional land, then a well-structured budget and cashflow model will assist any agri-lending application.
Accurate, timely, and informative cash flow forecasting reports enable you to understand when cash is available, plan for expansion, control herd numbers and sales, analyse key expenses, and undertake effective tax planning.
The skilled team at Moore Lewis & Partners Toowoomba farming and primary production accountants will develop financial projections, scope out future scenarios, and provide you with strategies and solutions to negotiate the challenges of everyday farming business.
Moore Lewis & Partners – Quality Client Partnerships, Real Outcomes for farmers, and Excellence in Accounting Services for primary producers across the Toowoomba Region and South West Queensland, since 1986.
Sales and Purchases
Buying farming land for grazing, crop production and other rural sector activities requires consideration of diverse finance, taxation and accounting issues as well as careful planning around ownership structures, cash flow management, and succession planning. Moore Lewis & Partners believes that buying farming land requires the buyer to keep one eye on future potential sale implications from a taxation, succession, retirement or wealth creation perspective.
Selling farming and primary production land may be the precursor to retirement or the start of another business enterprise. Prior to listing a property for sale careful planning must ensue to help direct the next step in the farm owner’s business life.
The skilled team at Moore Lewis & Partners Toowoomba farming and primary production accountants will provide appropriate financial and accounting advice relative to your personal circumstances and to maximise revenue outcomes.
Ownership structures and Succession planning
The idea of succession planning or accounting for deceased estates (estate planning) isn’t unique to the rural, agricultural and farming sector, however, it is a common topic amongst farming families.
Farm owners and primary producers are generally focused on the ‘here and now’, and the day to day events in their farming operations. Circumstances do change, and sometimes so quickly it can catch people off guard, leading to a lot of stress and significant financial and emotional pain.
Estate and Succession Planning are some of the areas that can have a significant impact on farming businesses and family members.
Before being caught out it’s prudent to seek professional legal advice from a lawyer experienced in estate planning and an accountant skilled in business and farm succession planning. After all, you’ll ultimately want the right assets to pass to the right people at the right time.
Good succession planning ensures the right people assume control of a farming enterprise at the right time, and under the right circumstances, to ensure minimal disruption or impact to the business, cash flow and income.
Succession Planning relating to individuals and farming businesses can be a complex area of professional accounting services. Every person or farm operation is different, as are the options available to minimise the impact on the business and the lives of the people involved. For any number of scenarios, there are just as many financial options and considerations.
Moore Lewis & Partners – Quality Client Partnerships, Effective Succession Planning Outcomes, and Excellence in Accounting Services for farmers and primary producers across the Toowoomba Region and South West Queensland, since 1986.
Preparation of Financial Statements and Taxation
It’s easy to feel overburdened at tax time. Preparing financial statements, finalising end of year transactions and getting your business tax return ready can seem overwhelming. Add to that the financial complexities of farming and primary production businesses and the ever-changing tax laws then it’s easy to make mistakes.
With Moore Lewis & Partners you can breathe easy again. Our team are skilled and experienced at preparing financial statements and tax returns for farming businesses across the Toowoomba Region, Darling Downs, and South West Queensland. Our clients are 1st, 2nd and even 3rd generation farming families as well as large scale primary production enterprises. Moore Lewis & Partners know farming and we know tax!
We offer a complete range of taxation services for farming and primary production businesses, so talk to us about:
- preparation of financial statements and income tax returns
- preparation of BAS and IAS
- tax planning
- tax audits
- business tax obligations: payroll tax, superannuation, GST, and fringe benefits tax etc
Nobody understands the challenges of seasonal planning and irregular income from farming operations like Moore Lewis & Partners. Since 1986 we’ve been working with farming businesses (small and large) to manage the variations in farm income across the financial year, and plan for efficient cash flow management. Whether your business model operates on a single payment each year, or more frequent yet irregular payments, we understand the challenges that brings to managing debt, keeping production operating and ultimately feeding the family!
The Moore Lewis & Partners seasonal planning service helps farmers and primary production businesses to:
- Build Business plans and structure around your farming operations and revenue timetable.
- Cashflow and budgets
- Wealth creation and growth strategies
- Livestock and crop buying and selling and associated cash flow management.
Individual tax returns
Moore Lewis & Partners aren’t just about business accounting but offer the full range of accounting and tax services for individual PAYG wage and salary earners.
Leave your tax return and dealings with the ATO to Moore Lewis & Partners Toowoomba Tax Accountants. Our skilled and experienced team of Toowoomba based tax accountants will help you stay ahead of the ever-changing tax laws and keep control of your tax commitments.
Talk to us about:
- Tax returns for PAYG wage and salary earners.
- Tax audits
- Fringe Benefits Tax (FBT) advice
- Tax and wealth creation planning
Our individual tax returns are cost effective and competitively priced.
You can’t go past Moore Lewis & Partners for Quality Client Partnerships, Real Outcomes, and Excellence in Accounting Services. After all, we’ve being serving the Toowoomba Region since 1986.
GST and BAS Management
Efficient GST and BAS management with the associated activity statements and compliance measures are a key concern for all business owners. Why? Because getting things wrong can cost a business time and money to fix the problem.
Moore Lewis & Partners understand the complexities of the taxation system and invest heavily in ongoing professional development of all accountants and support staff to stay on top of the evolving GST, BAS and FBT regimes.
Our services include ongoing expert advice tailored to your business:
- Advice on registering for GST
- Filing and adjusting GST returns
- BAS calculations and reporting
- ATO audit assistance
Clear the confusion and minimise the cost around GST and BAS obligations with Moore Lewis & Partners.
Quality Client Partnerships, Real Outcomes, and Excellence in Business Accounting Services. Breathe easy with Moore Lewis & Partners.
Small Business and Company taxation (Incl: Financial accounts preparation)
Moore Lewis & Partners offer the full range of taxation services for small business and companies. Our taxation consulting division is nationally recognised, and we offer advice based on proven knowledge and experience since 1986. Our proactive approach ensures we deliver consistent service and build solid relationships that stand the test of time.
Our skilled and experienced team of Toowoomba based tax accountants will help you stay ahead of the ever-changing tax laws and keep control of your tax commitments.
Business and Taxation planning in the Toowoomba Region involves more than just tax returns. Understanding how your business is tracking against industry benchmarks and normal accounting standards during even the most challenging trading conditions is essential. Budget and cashflow management are essential tools for every business owner and operator, and you need accountants who understand small and medium business.
If you’re looking to fund business growth through additional borrowings, then a well-structured budget and cashflow model will assist any lending application.
Accurate, timely, and informative cash flow forecasting reports enable you to understand when cash is available, plan for expansion, control stock and inventory, analyse key expenses, and undertake effective tax planning.
It’s easy to feel overburdened at tax time. Preparing your financial statements, finalising end of year transactions and getting your business tax return ready can seem overwhelming. Add to that the ever-changing tax laws then it’s easy to make mistakes.
With Moore Lewis & Partners you can breathe easy again. Our team are skilled and experienced at preparing financial statements and tax returns for businesses across the Toowoomba Region, Darling Downs, Western Downs and South West Queensland.
Talk to us about:
- preparation of financial statements and income tax returns
- preparation of BAS and IAS
- tax planning
- discretionary and other trust accounting and taxation
- tax audits and disputes
- business tax obligations: payroll tax, superannuation, GST, and fringe benefits tax FBT etc
- wealth creation planning
A trust provides a valuable way to protect the assets you have accumulated for the benefit of others. Our extensive experience with trusts enables us to offer specialist advice and taxation services.
We can assist with:
- Preparing and executing documentation required for trust formation
- Completing trust administration and reporting
- Minute-keeping service
- Annual accounts and Taxation
- Asset management and Investment monitoring
- Income distribution
You can’t go past Moore Lewis & Partners for Quality Client Partnerships, Real Outcomes, and Excellence in Business Accounting Services. After all, we’ve being serving the Toowoomba Region since 1986.
Individual tax returns
The popularity of Self Managed Superannuation Funds (SMSF) in Australia continues to grow with the SME business owners being particularly attracted to the flexibility and potential benefits of controlling the investment strategy of their own fund.
Self-managed superannuation is a means of saving for retirement, and enables you to control your investment strategy, reduce tax, maximise tax benefits, and control administration costs.
However, with that flexibility comes a strict regulatory regime with complex management, compliance and auditing requirements. As a result, you need the professional support of SMSF accountants and SMSF specialists in Toowoomba to keep your fund compliant and operating effectively.
Superfund accounting is a delicate area and personalised planning is required for each individual SMSF. The team at Moore Lewis & Partners SMSF Accounting are superannuation experts who can assist in establishing, structuring and administering your superannuation fund and enable you to reach your financial retirement goals.
Our services include:
- Completing information for the Insurance and Superannuation Commissions
- SMSF management and maintenance for clients in Toowoomba and South West Qld
- Superannuation audits
- Advice on compliance matters and lodging SMSF returns
- Advice on taxation benefits
- Advice on employer obligations
- Pension account advice
Moore Lewis & Partners – Quality Client Partnerships, Real Outcomes, and Excellence in SMSF Accounting Services. Serving the Toowoomba Region since 1986.