Accounting & Taxation

CR Advisory offers a comprehensive range of taxation and accounting solutions for both businesses and the individual. Let us help you take control of your financial future. Our team are committed to offer the highest level of service and welcome the opportunity to work with you.

Concentrate on running your business and let us take care of all your business taxation requirements:

• Business & company tax returns
• Bookkeeping
• Taxation - GST & PAYE advice
• BAS preparation
• Hadleys can liaise with the ATO on your behalf
• Audit advice & audit insurance
• Regular meetings – we listen to your needs.

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:

• Investment properties, tax and negative gearing
• Tax & share investments
• HELP (higher education loans) debts
• Late tax returns – we can help.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9826 3933 or make an enquiry via email at and one of our staff will get back to you as soon as possible.

Self-Managed Superannuation Fund

Self-Managed Superannuation Funds (SMSFs) offer an alternative strategy option for many individuals, families and small business owners to build tax effective wealth and protect assets over time. SMSFs are becoming popular for those who are ready to take control of their own super investments as they give you ultimate control and flexibility to manage your retirement benefits.

It must be noted though, that you will have increased responsibilities as a trustee of the fund. As a SMSF Trustee, you need to keep up to date with all required SMSF regulations and be aware of changes occurring in financial markets.

We can work with you to understand your personal financial situation and decide whether a SMSF structure is appropriate for you. We will also help you to invest your assets in the most effective way to maximise your retirement benefits, whilst complying with your fund’s investment strategy.

It is generally agreed that there are a number of benefits of an SMSF, but it is important that you also understand that an SMSF may not suit your situation. Outlined below are some of the reasons why a SMSF needs to be considered carefully before establishment:

Benefits:

• Control - trustees make the investment decisions;
• Asset allocation – trustees are in control of asset allocation decisions, as well as issues related to borrowing;
• Tax strategies – trustees have control of tax strategies and other planning options;
• Transparency – your SMSF provides you transparency concerning investments and visibility and control of taxation treatment as a result of investment decisions taken within the fund;
• Cost – expenses of running and administering a SMSF fund are not based on a percentage of the value of the fund, but more on the time needed to prepare reports and address relevant compliance matters;

Disadvantages:

Running and managing a SMSF may not be suitable to everyone. Many of the advantages are also a disadvantage:

• Costs may be relatively high where the asset balance in the fund is insufficient to generate economies of scale due to the fixed costs of running the fund.
• There can be too much flexibility for prudent investing and the fund’s assets must remain within its Investment Strategy.
• Remaining on top of trustee responsibilities is complex and will require an investment of your time.
• Poor personal knowledge of the investment landscape can have serious consequences.

Should you wish to consider establishing a SMSF then we can help with:

• Portfolio creation, providing research and recommendations on investments for the fund.
• Ongoing Portfolio Reporting Services, assisting with ongoing investment management of the fund, including corporate actions and share purchase plans.
• Referrals to professionals who can assist with the accounting and audit requirements of the fund, providing support with the compliance burden on you as Trustee.
• Asset sales and contribution strategies to maximise the benefit you achieve through the fund.
• Pension advice including reference to the legislative requirements helping you meet your obligations as a Trustee and manage the fund effectively on an ongoing basis.
• Superannuation contribution and ongoing strategy support, utilising legislation to build a solid retirement benefit.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9826 3933 or make an enquiry via email at and one of our staff will get back to you as soon as possible.

Bookkeeping Services

Having trouble reconciling your accounts? Not enough hours in the day to balance the books? Outgrown your existing bookkeeper or have they recently left? Then our outsourced bookkeeping services can provide accurate and timely reporting for any business. You can focus on running your business while CR Advisory reconciles your accounts and attends to the processing of your financial transactions.

Our outsourced bookkeeping services can:

• Accounting software
• Payroll (and related aspects of superannuation, workcover and PAYGWH)
• Accounts payable
• Accounts receivable
• General ledger
• BAS/IAS
• Inventory
• Document management.

Maybe you would like to be able to receive payments on the spot? CR Advisory can assist with this option.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9826 3933 or make an enquiry via email at and one of our staff will get back to you as soon as possible.

Business Advisory

There are four main business structures commonly used by small businesses in Australia and we can help with them all:

Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.

Partnership: an association of people or entities running a business together, but not as a company. A partnership is relatively inexpensive to set up and operate.

Company: a legal entity that is separate from its shareholders.

Trust: an entity that holds property or income for the benefit of others. Trusts require a formal trust deed that outlines how the trust operates, requires the trustee to undertake formal yearly administrative tasks and if you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection.

It is important to note that you can change your business structure throughout the life of your business.

We can help with the following:

• Corporate Structures
• Updating your business plan
• Business value maximisation
• Systems review
• Sustainability
• Strategic planning
• Financial diagnostic analysis
• Cash flow and profitability
• Corporate compliance
• Formation of trusts and new company registrations
• Provision of registered office services for service of notices
• Attending to ASIC returns and regular filings on your behalf
• Business name registrations and maintenance
• Preparing minutes and drafting resolutions.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9826 3933 or make an enquiry via email at and one of our staff will get back to you as soon as possible.

Online Accounting

More small to medium-sized businesses are moving to cloud accounting and using cloud based applications for their bookkeeping and accounting needs through desktop and mobile apps. All businesses need to keep track of their accounts, and cloud accounting allows businesses to make invoicing and cashflow management decisions based on more up to date information. It also provides for other business efficiencies including payroll for off premises workers. The cloud revolution is propelled by fast, reliable internet, cheaper servers and widely-used open-standards for interchanging data and instructions between software. Moving to the cloud does not increase data risk if good password policies and back-up strategies are in place. Businesses should ensure staff understand modern security risks and complete training when moving to cloud accounting or using any service that provides remote access.

Contact us to discuss your circumstances so we can help determine the most appropriate solution for you based on functionality, ease of use and cost.

The main cloud accounting players in Australia are:

Reckon – Intuit (the global company) created QuickBooks software and Reckon (the Australian company) now continues to provide this cloud-based accounting software in a variety of formats including desktop, hosted and online cloud versions.

Quickbooks Online – Provides a cloud based version of their previous product, QuickBooks.

MYOB – An Australian company originally offering desktop accounting software, now offers several subscription-based cloud accounting products, including both desktop and cloud versions of their product.

Xero – A New Zealand based software company that offers cloud-based accounting software for small to medium-sized businesses.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9826 3933 or make an enquiry via email at and one of our staff will get back to you as soon as possible.

Xero Integration

We have a team of Xero certified advisors. Our experts can help you transition into Xero from other softwares and help implement best business practices if already in Xero.

Xero - Accounting Software

Popular features that will change your life. Accounting software with all the time-saving tools you need to grow your business. Xero is always secure and reliable and our experts are here to support you 24/7.

Features to run every part of your business

Small business accounting software that’s beautifully simple

Explore features like invoicing, payroll, reporting and more. Xero small business accounting software has all you need to manage your numbers effortlessly.

• Invoicing
• Inventory
• Payroll
• Bank Reconciliation
• Projects

GET A REAL-TIME VIEW OF YOUR CASH FLOW

Log in online anytime, anywhere on your Mac, PC, tablet or phone to get a real-time view of your cash flow. It’s small business accounting software that’s simple, smart and occasionally magical.

XERO INTEGRATES WITH 700+ BUSINESS APPS

Why Xero?

Xero’s online accounting software is designed to make small business easier. See how we can help you take control of the numbers, so you can get back to what you do best.

Xero can automatically handle tasks that used to take up all of your time. From importing bank transactions to sending invoice reminders, we’ll do the work for you.

Do business from anywhere, on any device

It’s easy to access all your data and Xero tools from anywhere – just connect to the internet. Plus, keep all your essentials like invoicing and payroll at your fingertips with Xero’s Mobile App.

Whether you’ve been in business for years or this is your first small business, try Xero now and see how online accounting software can make running a business more beautiful.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9826 3933 or make an enquiry via email at and one of our staff will get back to you as soon as possible.

Mortgage Broking

Are You Confused By The Multitude of Mortgage Choices?

The word mortgage come from a French word ‘mort’ meaning ‘death’ and ‘gage’ meaning ‘pledge or agreement’ so ‘agreement till death’. For most of us mortgages are a necessary debt which we seem a life time to pay. The cost of owning a house for most Australians steals away their dream for a good retirement. Unfortunately most of us are married to our mortgages and have no solution as to how to pay it off faster.

We have been conditioned to focus on the interest rate rather than being educated on how to pay less in interest. A good broker is one who is proactive and can tell you how much can on ‘leverage’ to maximise your current position. Unfortunately with mortgages, there is no one size fit all.

The CR Advisory team is dedicated to find you the best solution. We pride ourselves on our industry knowledge as we ourselves have mortgages, investments and can advise you with personal experience. Our experience ranges from residential mortgages to chattel lending and our team is confident that we will find you a solution for you. Unlike most business we are not jack of all trade as we engage other independent mortgage broker to keep up with industry knowledge and product range.

Start getting the support you need and book a consultation with one of our team members today. Call us on (03) 9826 3933 or make an enquiry via email at and one of our staff will get back to you as soon as possible.

Accounting Videos

General Calculators

Please enjoy the links to these free tools supplied by MoneySmart - a great resource for general financial information. Please get in touch if you would like to discuss any questions that you may have as a result of using these calculators.

Useful Links

Tax Resources

Finance

Business

News

Banks

Accounting Software