CGH Accounting offers comprehensive CPA business services tailored to meet the needs of professionals in various fields, including Medical Practitioners, Barristers, Solicitors, Financial Planners, and other professionals. We understand the specific challenges and requirements of operating a professional services business.
Our chartered professional accountant services include:
- Profit and Loss and Balance Sheet Reporting: We provide accurate and detailed reports on your financial performance, allowing you to track your income, expenses, and overall financial health.
- Preparation and Lodgement of Income Tax Returns: Our team of experts will handle the preparation and lodgement of your income tax returns, ensuring compliance with tax regulations and maximising your deductions.
- Preparation and Lodgement of Business Activity Statements (BAS), Instalment Activity Statements (IAS), PAYG Withholding Reports, and Superannuation Reporting Obligations: We take care of all your reporting obligations, saving you time and ensuring accuracy.
- Tax Planning: We collaborate closely with you to develop effective tax strategies that align with your professional services business, helping you minimise your tax liability and maximise your financial position.
- General Business and Taxation Advice: Our experienced professionals provide valuable advice on managing and operating a professional services business. We can assist with matters such as choosing the right business structure, implementing efficient accounting systems, and achieving a healthy work-life balance.
Anyone who operates operates as a medical practitioner, lawyer, financial planner, barrister, solicitor, in fact any white collar professional knows this is a multi-tasking operation. Beyond the typical small business hurdles like GST, BAS, PAYG, and superannuation compliance, you’re faced with the added complexity of the niche specific industry legalities
Over many years of working closely with professional business people, Chris Hunter and his team of financial experts and chartered professional accountants have guided countless professionals through every phase of their entrepreneurial journey – from the initial launch to the final handover.
Comprehensive Service And Advice
Our firm prides itself on offering a comprehensive “spread” of online accounting, accounting, tax, and business growth services tailored to the industry. As a result, we’ve cultivated a substantial clientele of legal, financial and medical entrepreneurs. This wealth of experience has transformed the professional sector into a specialized focus within our accounting practice.
Building a strong, stable business journey resembles constructing a house—solid foundations are essential. In the business context, these foundations encompass the right tax structure, suitable accounting software, adequate insurance coverage, and a strategic marketing plan and a website to display your business and services offered.
Business Structures
Your choice of business structure is crucial, with options ranging from sole trader and partnership to company and trust. As you decide on the most fitting structure, always keep the long-term perspective in mind. Australian tax laws are intricate, and altering your business structure down the line could trigger a costly capital gains tax event.
By choosing CGH Accounting, you can focus on running your business while we manage all your accounting and taxation needs.
When providing advice on business structures, we carefully consider several factors:
- Income Tax Minimization
- Maximizing Asset Protection
- Admission of New Business Partners or Investors
- Compliance with Industry Legal Requirements
- Risk Profile of the Industry
- Future Entitlement to Discount Capital Gains Tax Concessions
As a result, the business structure often becomes a compromise based on the relative importance of these issues.
Accounting Software
Another crucial aspect of your business foundation is your choice of accounting software. Poor record-keeping remains a significant cause of business failure.
Having up-to-date and accurate financial records enables informed decision-making. Unfortunately, some business owners end up with what we refer to as “computerized shoebox” records—inefficient and frustrating—which contradicts our mission of streamlining bookkeeping and GST compliance to save you time and costs.
At CGH Accounting, we understand the unique needs and challenges faced by professionals in various professional niches. Our goal is to provide you with the expertise and support you need to succeed and thrive in your business.
Our clients range from Ballarat, Daylesford, Creswick, Ballan, Buninyong, Melton, Bacchus Marsh, Werribee, Anglesea, Hoppers Crossing to Point Cook, Torquay, Geelong, Victoria, South Australia, Western Australia and Queensland utilising the ease of our tax agent online services.
Our Values
Our mission is to conduct all business with clients – both individuals and businesses – with courtesy, respect, acumen, skill, and discretion.
We value honest communication, thoroughness, and an old-fashioned, strong work ethic.
From simple tax advice to complex company consultations, CGH Accounting Services handles all matters with the same, consistent application of proficiency and experience – and an undertaking to achieve the best possible results for our clients. That’s our promise.