The team at Greenlion possesses deep knowledge and expertise in financial matters. We can provide valuable insights and analysis of financial data to help business leaders make informed decisions. By understanding your company’s financial position, trends, and profitability, we can offer strategic advice and guidance on investment opportunities, cost-saving measures, and expansion plans.
Precise accounting and tax management are vital for a thriving business and secure finances. Greenlion specialises in helping you achieve your goals, providing penetrating reports and astute advice regarding tax complexities — expert support every step of the way.
Obtaining finance and staying on the right side of labour laws when processing and managing payroll are just two reasons why you need robust accounting services. Financial statements are crucial for tax compliance because they provide the information for preparing accurate tax returns, calculating taxable income, and determining tax liabilities. They also serve as supporting documentation during tax audits and inquiries.
An integral part of being a business proprietor is ensuring your business operates within an appropriate structure. Whilst owners have a choice of structures to choose from, the one selected should be sufficiently flexible to meet evolving business needs and in our view, should confer benefits such as asset protection and tax minimisation.
When a new client comes to Greenlion, one of the first matters we turn our minds to is their business structure. We spend time reviewing a client’s structure to see if it is appropriate and fit for purpose. This is an important step as good businesses are built on solid foundations. Often, as a consequence of a business evolving, what was once an appropriate structure becomes inappropriate and in some instances, a hinderance to overall business development.
A case in point was where a mid-size services company approached us to act as their Accountant. As we do with all business owners when they initially join us, we conducted a review of the business structure being used. Our evaluation revealed our client’s existing structure to be inflexible for a tax-effectiveness perspective, lacking in asset planning and compliance heavy. We suggested a new structure be adopted which would see the business and the business owners’ personal assets protected against unforeseen losses and creditors, tax minimised and the onerous, time consuming volume of compliance decreased.
Happily, our clients accepted our suggestions, and we went to work designing and implementing a new structure for them. Protection against negative out of the blue events leading to a loss of assets was put in place. Tax savings of many thousands of dollars in the first year of utilizing the structure was achieved. Compliance was dramatically decreased too, saving in both time and accounting fees.
Our clients expect their business to evolve further in the next couple of years. They envisage bringing in new partners and acquiring other complementary business. We know the structure the business now operates within, is flexible enough to accommodate these welcome developments. Best of all, our clients can continue to grow their business, confident in the belief they are doing so on a solid accommodating foundation.