Ghostbusters? No! See Christian Fox, not just Accountants but Experienced Business Advisors
Cashflow is King! It is vital and fundamental to any business. No cashflow no business.
• Case Study
We were referred a new client that was behind in tax, ATO threatening liquidation, behind in staff Super, creditors were building up, debtors paying slower and slower. Owner stressing day by day, old accountant way behind with BAS and accounts so when these got lodged, the tax debt was ever bigger.
• Resolution – What we did:
I. Firstly rang ATO, advised them of new accountants and got deferment on any further action until we had sufficient time to sort out issues
II. Organised arrangement with ATO to pay superannuation off over time
III. Organised a DOCA (Deed of Company Arrangement) with an experienced liquidator giving client time and breathing space to focus on business then pay down a fraction of his business debts over a12 month period
IV. Prepared a detailed cashflow budget so client knew when payments due and income required to service running costs and monitored this.
V. Organised Debtor Factoring to fix business Cashflow and meet business & tax commitments on time.
• End Result:
Client on top of business and sleeps well now! Business is growing nicely.
Lesson – Do not wait and drown in debt; ask for help you will be surprised at what options are available and possible to you.
Sometimes we think; if your treat staff well, they will treat you and the business well, which generally is the case.
But, what happens when things go bad?
At all times, staff and employers must have rules and agreements to work by. You need a specialist firm to look after this vital and ever changing complex area.
We have partnered with “Employsure” who among other things draft employee contracts, look after total HR, OHS and other compliance and Fair Work issues on your behalf for a set 1% fee of gross wages. If you were taken to court by Fair Work or your employee, Employsure would cover all the legal costs and handling of the matter as part of their flat fee. Peace of mind guaranteed!
The stress and general day to day focus on work can sometimes lead to complacency in attending to ATO deadlines and tax debt.
We pride ourselves in achieving practical and useful tax arrangements of between 12 to 24 months for our clients. We have been very successful in having penalties and interest waived for clients with good reasons and by persistent negotiation by our accountants
• Always Communicate with your adviser.
• Accountants are not just bookkeepers or tax agents they have real time experience in business and its problems
• Don’t wait until you have dug yourself into a bigger and bigger hole!
• But, if you have, call us.
• We love to fix problems !