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ACCOUNTANT – EXMOUTH

Simon has been visiting Exmouth for regular fishing trips for over 25 years! If he isn’t in the office, everyone knows he has his boat in tow and is headed North for the warm weather in Exmouth. It came as a no brainer when Simon decided to branch his business out and provide a business opportunity to help service the incredible business’ in Exmouth.

Since opening in 2005, Hiscox Partners has grown to a sufficient size and scope. We pride ourselves on providing a face-to-face service where clients know they are always looked after. We want to work alongside you and your business to help create growth and success in all areas of your business. Our extensive experience allows us to provide to you a complete range of accounting and financial services to tailor your specific needs. We can come to you for an appointment.

Dates in Exmouth for 2021*

  • 15 March – 27 March
  • 23 May – 6 June
  • 13 August – 28 August
  • 12 November – 27 November

*These are dates Simon will be in Exmouth, however, your accounting needs will be met year-round.

What are your business concerns and questions?

Contractors

  • Employing Contractors or You are a Contractor
  • Who pays the Superannuation?
  • Who pays the Insurance?
  • Do I pay the Long Service Leave?
  • Who supplies the tool and equipment?
  • It is really important to not “Muddy the Water” between Employees and Contractors.

Operating a Business

  • Sole Trader, Partnerships, Trusts and/or company?
  • Starting a new business, it can be a costly mistake if it is not set up correctly from the start
  • Paying a lot of tax and maybe the structure is not right?
  • Worried about legal liability and an accident at work and protecting your assets?
  • Do you really know how you trade?

What can we help you with?

Trading under the right structure.

Whether that be a Partnerships, Company, Trust or other It is important you get this right and make sure the business name and ABN are in the right structure as well. Choose wisely to determine what the best tax rates are under these structures.

Payroll Tax

Yes, it is a dirty word! However, make sure you aren’t paying too much. A lot of people just think this is a simple calculation and send the payment to the State Government. You need to make sure you have the calculation right, including allowances, LAFH. travel etc.

Instant Asset Depreciation

Under the instant asset write-off, eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used, or installed ready for use.

Instant asset write-off can be used for:

  • multiple assets as long as the cost of each individual asset is less than the relevant threshold
  • new and second-hand assets

Counting Stock

How do you need to count stock?

  1. At the lowest cost; or
  2. At net realisable value

Meaning?

If an item has been sitting on the shelf for a long time there is a chance the value is lower than the cost. Therefore, lower value and therefore lower tax. It is wise to keep a track of stock and see what it is. Normally, high stock will mean less money in the bank. Small business does have some simplification with stock adjustments of $5,000 or less.

Our Office is Located at

2 Truscott Crescent
Exmouth WA, 6707
Telephone: 0458 171 326