Entity Structuring & Asset Protection Specialists

When it comes to crafting the right entity structure for your business or investments, it’s not a one-size-fits-all scenario. You need a tailored approach that considers your unique circumstances and short-term and long-term goals.

Far too often, accountants take a cookie-cutter approach to entity structuring, failing to understand your aspirations, priorities, and concerns. At Zweck, we take a different path. We are entity structuring specialists with a wealth of experience gained from our time at Big 4 and mid-tier accounting firms. We’ve encountered diverse client situations, including those you might not typically find at smaller accounting practices.

Here are some of the crucial questions you should ponder when contemplating your entity structure:

1. What are the forecasted profits for the venture?
2. Is the income business, investment or personal services income?
3. Do you have a future growth or acquisition strategy?
4. How long do you think you will keep the asset? What are your intentions?
5. Do you have a narrow or wide family group?
6. Have you got established wealth, or are you just starting?
7. Is your personal expenditure for living, mortgage, kids, holidays, etc high or low?
8. Do you have any foreign ties or considerations?
9. If you have existing entities, do you have large retained profits in the trading entity that could be exposed?
10. If you have loans between low-risk passive entities and high-risk trading entities, then have you secured the loans?
11. If segregating plant and equipment via an asset company or trust, do you have the appropriate personal property security registration (PPSR) in place?
12. Are you in a relationship or single? Are you concerned about future matrimonial claims?
13. Have you considered an asset-accumulator and risk-taker approach between de facto couples?

At Zweck, we are specialists in what we do. Book in a complimentary meeting today to discuss your Group structure. 

Property Developer Tax Specialists

Tax and accounting for property transactions is a very complex area of tax law and often requires careful analysis and assessment from a specialist property tax accountant.

Property transactions can be classified into three key tax categories;

1. Mere realisation of capital asset – an asset is typically held long-term. You occupy the property or usually have a longer-term passive income.

Tax treatment: this will be on the capital account, subject to capital gains tax. If applicable, you can apply for the primary residence CGT exemption and claim the 50% CGT Discount if held for more than 12 months. GST will typically not apply.

2. Isolated transaction with a view to profit – a property transaction is entered into for a short-term gain with no real intention to live in the property and/or rent out long-term for passive income. 

Tax treatment: this will be on the revenue account, subject to normal income tax; you cannot claim the CGT main residence exemption or 50% CGT Discount. The transaction can sometimes be subject to GST.

3. You are carrying on a property development business – You have a history of developing and selling property and typically going about things in a sophisticated, carefully thought-through manner. 

Tax treatment: this will be on the revenue account, subject to normal income tax; you cannot claim the CGT main residence exemption or 50% CGT Discount. The transaction will often be subject to GST.

It is essential to understand that the assessment of the property transaction is based on the underlying facts and not a label you put on the transaction. Furthermore, if the intention of the property transaction changes, so can the tax treatment.

At Zweck, we specialise in property tax accounting. Our approach entails in-depth consultations with you to analyse your specific transaction, assess its feasibility, and offer expert guidance to ensure your complete understanding of your tax responsibilities.

If you need a specialist tax accountant to assist you with your property tax, contact us today.

Are you tired of playing phone tag with your accountant? Frustrated with the lack of communication and support when you need it most? We understand how essential a responsive accountant is to your financial success, and that’s why we’re here to change the game.

At Zweck, we’re committed to putting an end to your accountant-related woes. Say goodbye to unanswered calls and unreturned emails, and say hello to a new era of accounting support designed with you in mind.

Why choose Zweck?

• Instant Accessibility: We pride ourselves on being accessible when you need us the most. Our team of dedicated professionals is just a call or click away, ready to address your concerns and answer your questions promptly.
• Proactive Communication: We don’t just wait for you to call us; we’re proactive in reaching out when necessary. Whether it’s tax deadlines, financial planning opportunities, or important updates, we keep you informed and in control.
• Personalised Support: Your financial situation is unique, and so is our approach. We tailor our services to meet your specific needs, ensuring you receive the attention and guidance you deserve.
• Experienced Professionals: Our team comprises seasoned accounting experts who are knowledgeable and dedicated to your financial success. You can trust us to provide accurate and insightful advice.
• Transparent Pricing: Say goodbye to hidden fees and unexpected costs. Our transparent pricing ensures you know exactly what to expect, so there are no surprises down the road.

Don’t let an unresponsive accountant prevent you from achieving your financial goals. Make the switch to Zweck today and experience the difference firsthand. We’re here to be your trusted financial partner, offering the support and communication you’ve longed for.

Contact us today to organise a complimentary meeting to see where we can assist.

Does your accountant meet with you to review your EOFY Financial Statements & Income Tax Returns? If not, then why not?

The end of the financial year (EOFY) is a critical milestone for businesses and individuals. It’s when financial statements are finalized, income tax returns are prepared, and a clear picture of your financial health emerges. But here’s the crucial question: Does your accountant meet with you to go through your EOFY financial statements and income tax returns? If not, then why not?

In this blog, we’ll delve into the significance of an end-of-year review with your accountant and why it should be an essential part of your financial strategy.

1. Gain Clarity and Insight – Meeting with your accountant at the end of the financial year provides an invaluable opportunity to gain clarity and insight into your financial standing. It’s not just about numbers; it’s about understanding what those numbers mean for your financial future. Your accountant can explain the details of your financial statements and help you interpret the data in a way that is meaningful to you.
2. Identify Opportunities and Challenges – During the year-end review, your accountant can help you identify both opportunities and challenges in your financial situation. Are there areas where you can save on taxes? Are there structuring opportunities you should consider? Are there potential risks you need to address? These are the kinds of questions that can be explored during this crucial meeting.
3. Strategic Planning for the Future – The end of the financial year is an ideal time to engage in strategic planning for the year ahead. Your accountant can work with you to set financial goals, create a budget, and outline a roadmap to achieve your objectives. This proactive approach can help you stay on track and make informed financial decisions throughout the year.
4. Ensure Compliance and Accuracy – Meeting with your accountant at EOFY ensures that your income tax returns are prepared accurately and in compliance with all relevant laws and regulations. This reduces the risk of errors or omissions that could lead to costly penalties or audits down the line. It’s a proactive step toward financial peace of mind.
5. Address Your Questions and Concerns – Perhaps one of the most valuable aspects of meeting with your accountant at EOFY is the opportunity to address any questions or concerns you may have. Whether it’s about your tax liabilities, business issues, or any financial uncertainty, your accountant is there to provide answers and guidance.

At Zweck, we believe in the power of communication, collaboration, and transparency. We understand that your financial well-being is not just about numbers on a page; it’s about your dreams, goals, and aspirations. That’s why we make it a priority to meet with our clients at EOFY and throughout the year to provide the support and guidance they need.

Ready to experience the difference a proactive and communicative accountant can make in your financial journey? Contact us today to schedule a complimentary meeting to discuss where we can help you.