Our Services

blog4

Small business

Growth
36231682 m crop

Cedar Financial authorised representative of

La Trobe Financial
blog5

Self managed super

Flexibility
iStock taxation crop

Taxation

Trust
iStock AccSoftware corp

Accounting software

Compliance
123rf BSBus crop

Buy/Sell businesses

peace of mind
blog4

Small business

Growth
blog5

Cedar Financial authorised representative of

La Trobe Financial
megan3

Self managed super

Flexibility
iStock taxation crop

Taxation

Trust
iStock AccSoftware corp

Accounting software

Compliance
123rf BSBus crop

Buy/Sell businesses

peace of mind
  • Our Company
  • Our Values

All about us

  • Initiatives
  • Support

In the community

  • Partners
  • Staff

Meet our team

 
Blackburn ' Prior has been part of the NSW Northern Rivers business community since 1958. We operate from offices in Lismore and Ballina, servicing clients locally and from areas as diverse as Hamilton Island and Central Queensland to the Hunter Valley and...read more

Accounting software

iStock AccSoftware corpXero, Quickbooks Online, Reckon, MYOB. 

Every day, we see advantages for businesses who stay up to date:

  • You can react more quickly to new opportunities. You are able to receive faster bank decisions on loans to buy equipment or a property, because you are able to give your lender up to date information at the push of a button;
  • You can quickly see warning signs indicating bad debts, unexpected staff leave accruals, and other potential problematic areas;
  • You will save time. For many small businesses the bookkeeper is a partner or spouse and they are busy enough without spending unnecessary hours every week wrestling with old software (just ask them);
  • Your accountant will like you even more! Because working with old software really slows things down at our end and that makes it harder to help you quickly when you need financial figures.

Have we persuaded you to have a look?

Leah Dillon (Xero, Reckon, Quickbooks & MYOB) & Sandra Walker can showcase what is available to you. Simply give them a call, or have your bookkeeper contact them, for more information. 

Xero logo hires RGB

Professional PartnerARL lockup rgb0  

 

 

 

Self managed super

blog5 crop

Today, there are more than 1 million Australians who have decided to take charge of their super and are running a self managed superannuation fund (SMSF).

How you manage your super today will have a significant impact on your choices in retirement, which is why SMSFs are rapidly becoming a growth area for investors who want greater control of their super savings.

Here are a few of the benefits our clients have experienced using an SMSF structure.

Control and visibility

For most Australians, superannuation is their second largest asset behind the family home – so naturally they want to understand it, control it and have greater visibility in relation to it. With an SMSF, you can decide how you would like to invest your retirement savings and continually monitor how your super is tracking.

Owning your business premises in your SMSF

SMSF’s are often an attractive vehicle for business owners looking to acquire their business premises. It means rent payments become investment earnings of your fund rather than ending up in the pocket of a third party and also means any capital growth on the premises accrues to your super fund. Earnings of your fund are taxed at the concessional rate of just 15%.

Pool family assets

SMSFs can be a great way to pool your super assets with a partner or extended family. With an SMSF, you can have up to four members. This means you are able to consolidate multiple super accounts to create a larger pooled balance – and because it’s consolidated into one SMSF you only pay one set of fees.

SMSFs have become a popular way for some Australians to manage their retirement savings, but you need to carefully consider whether it is the best option for you.

Blackburn ' Prior can help with:

  • Assessing the benefits of holding your super assets in an SMSF structure
  • Initial set-up
  • Admin and accounting
  • Tax and financial planning advice

Since 2014 we have enjoyed using Politis Investment Strategies as our preferred financial planning partner.

To discover how you can ensure your financial future please call Andrew Lowrey, Peter Brown or William Ford.

 

Taxation

iStock taxation cropGood tax advice and efficient tax return preparation is the foundation of most accounting relationships.

Good tax services are made up of:

1. Good structural choices made early in a business' life. This means understanding the pros and cons of operating as:

  • a sole trader;
  • a partnership;
  • a company;
  • a trust, or
  • a well thought out combination of the above. With a self managed superannuation fund too, if appropriate to your situation.

 

2. Regular tax services during the business life. This covers:

  • Helping to maximising your legal tax deductions;
  • Optimising your legal profit allocations;
  • Lodging BAS and tax returns on time, to present an efficient profile to the Australian Taxation Office;
  • Helping you meet your tax and super obligations to your staff
  • Good planning before you sell your business. Tax laws operate such that planning should start at least four years before you sell, to maximise the tax benefits when you exit - the later you leave the planning, the less choices you may have.

At Blackburn ' Prior we have a highly skilled team in both our Lismore and Ballina offices who can ensure your taxation needs are meet.

Please contact:

Small Business

staff picEach week our clients face a myriad of challenges from recruiting staff and financing bank loans to implementing computer upgrades.

Being a small business ourselves, we know just how much time these matters take up.

One of the keys to ensuring small business success is seeking the right advice and being ready for change. Recognising potential changes, both internal and external, and how they will affect your business, will minimise negative impacts on your small business. 

Some of the areas we can work with you on include: 

  • Drafting a 12 month cashflow forecast and presenting it to your business banking manager to secure new equipment financing,
  • Explaining how personal leave, annual leave, unpaid leave and long service leave interact under the Fair Work Act,
  • Doing a due diligence on a new business opportunity,
  • Working with your solicitor to negotiate a new commercial property lease,
  • Checking your cashflow calculations on a proposed rental property investment.

We work with you to assess each of these matters in relation to your specific circumstances and with a integrated view of your entire business.

For more on how we can improve your small business contact:

Contact us here

More Articles ...

  1. Buy/Sell businesses