Accountants & Advisors

KMW Accountants and Advisors combine technical experience with industry know-how to provide a unique combination of professional services including accounting, taxation advice and strategic business planning. Combining the skills of financial and tax specialists, our team can provide you with effective solutions to all your business problems.

Our clients are from a wide range of industry sectors and include small-medium enterprises, public and private companies, family businesses and entrepreneurs. For more than 25 years, these Australian businesses have used our tailored business advice to drive substantial improvements in the performance and growth of their businesses.

Accounting & Taxation Services

Tax planning & minimisation

Accounts Preparation & Compliance

Tax returns

GST advice & BAS preparation

Business Structuring

Company secretarial & ASIC compliance

Accounting & Bookkeeper Support

Audit Protection Insurance

Business Advice & Improvement Services

Asset protection is often overlooked and yet can be easily achieved with the correct advice.

Having the correct business structure in place for your individual needs and requirements is the essential first step towards asset protection. Remember your circumstances change over time and so should your business structure.

Also, having an appropriate level of risk insurance in place to protect your family and your assets if you happen to be injured, fall sick or die. Wealth protection is an essential part of every financial plan. Without income, trauma, life and TPD insurance, the wealth you’ve built up can rapidly erode as a result of an accident or illness.

KMW Accountants can assess your personal situation and recommend a structure and policies that best suit your needs. We can also review your current structure and policies to ensure they continue to provide an appropriate level of coverage. This is particularly important as your financial situation changes and extended coverage is needed for additional family members.

Budgets and cash flow statements are one of the simplest and effective tools for any business owner. Yet the majority of businesses fail to take advantage of this opportunity.

Based on historical information a budget and cash flow statements projects into the future and is invaluable for many purposes:

  • Planning for future profits
  • Identifying cash fluctuations during the year
  • Evaluating staffing needs
  • Controlling costs
  • Identifying areas of weakness

KMW Accountants can analyse your existing cash flow, identify what you’re doing right and wrong, and create projections for the future so that you can make smarter decisions on expenses that improve cash flow.

We can also provide you with regular, timely financial reports to help you manage your daily cash flow more effectively.

Setting up a new venture can be a daunting prospect.

So many factors can affect a business’ chance of success and growth including choosing the correct business entity, business planning, understanding current operating requirements and tax law governing certain types of business.

KMW Accountants has, over many years, worked with new business owners from the outset to provide them with access to the technical, financial and management resources necessary for a strong, stable start. KMW will help you lay the foundations and plan for future success.

For those who plan to purchase an existing business, KMW can undertake due diligence work with the aim of establishing a clear understanding of the value, future potential and profitability of the business being considered.

Would you like someone else on your side that you can turn to in confidence to discuss where your business is going or to help you solve problems as they come up?

Wouldn’t it also be great if they made you accountable, kept you focused and moving forward so you keep doing the activities you know you need to do to achieve the results you want for your business?

Most well-known business leaders and champions of industry and sport all have coaches. A business coach can help you monitor your performance, identify potential problems and advise areas for possible improvement.

Business coaching helps business people like you to develop and grow over the long term and provides the ongoing support, motivation and advice you need to implement your strategic plan.

KMW has experienced business coaches and coaching programs that will suit your business and fast track your success.

Business plans enable you to:

  • Work on your business as if you were detached from it
  • Drive profits and growth
  • Get cash flows under control
  • Improve the value of your business

Growing businesses regularly need to step away from the day to day operations of their core business.

This gives them the opportunity to identify future priorities and determine how they can be implemented within the context of current operations.

KMW Accountants are experienced business planners. We can help you design a business plan that is right for your business and is workable.

Our business planning service includes:

  • Designing a business plan which is concise, readable and convincing, and which has been developed with input from key stakeholders of the business
  • Conducting a SWOT (strengths, weaknesses, opportunities, threats) analysis
  • Establishing a blueprint for growth that balances financial and non-financial measures
  • Helping to develop strategies and action plans required to achieve outcomes

Choosing the right business entity for your business is one of the most important considerations when buying or starting up a business or expanding one. If you choose the wrong entity it could cost you thousands of dollars in extra tax or unnecessary compliance costs.

You should set up your business structure so it complies with tax laws and especially the tax avoidance legislation relating to your specific business type.

  • Other things you should consider when choosing a business structure include:
  • Protection of family assets
  • Maximising superannuation benefits
  • Income splitting
  • Limited liability
  • Family involvement
  • Capital Gains Tax liability
  • Ability to offset losses
  • Cost effectiveness
  • Forecast profit
  • Personal Services Income

KMW can provide you with advice on the right structure/s for your circumstances and general information on common business structures.

Do you need to provide for a loved one after you have passed on?

Did you know that without prudent estate planning, wealth you may want to pass to the next generation could be inadvertently eaten up by taxes and duties?

Ensuring the smooth transfer of wealth between generations requires sound planning.

KMW is experienced in working with clients to review their estate planning needs. Our estate planning service includes a review of existing structures, review of wills, life cover, superannuation arrangements and asset protection objectives.

While many small to medium enterprises (SMEs) think that key performance indicators (KPI’s) are measurement tools used mainly by large corporations, SMEs can gain distinct advantage by setting them for their own businesses. KPI’s are important as they keep the focus on the drivers of your business that affect profitability.

Without KPI’s, it can be almost impossible to know what to focus on when time is at a premium and there are competing priorities. Setting KPI’s enables you to better manage your time so you apportion time and effort appropriately to the parts of your business that will achieve improved profitability.

KMW Accountants are experienced in helping businesses set key performance indicators and can help you monitor them quarterly or monthly as your business requires.

The data that underpins the measurement of KPI’s can usually be sourced from your bookkeeper.

KMW’s comprehensive Key Indicator Report will include a review of your current system for measuring performance and development of new performance indicators. The KPI’s we define will help support strategic objectives, create a strong focus on core processes and serve as an early warning system for problems and basis for all your business planning and decision-making.

Do you have a strategic plan for your business?

Without one, you may find it difficult to know that you can definitely achieve the goals you set for your business.

A strategic plan is like a roadmap or an architect’s blueprint. It clearly shows points of reference and benchmarks against which you can measure and assess whether you have reached certain standards of achievement. It also explains the concept and framework around which decisions are to be made.

It includes the business’ goals and milestones or benchmarks that show what needs to be achieved along the way to achieve those goals.

Strategic plans help businesses manage and make consistent decisions irrespective of current economic circumstances. They are particularly valuable for small to medium enterprises (SMEs).

However, many SMEs don’t have the time or resources to properly analyse their business and develop a comprehensive, strategic plan.

Imagine what life could be like for you as the business owner if your business was performing at peak potential.

Would you still work five days a week? What aspects of your lifestyle would you change?

Without a strategic plan, how do you know that you will definitely achieve what your business is truly capable of?

KMW’s strategic planning service covers:

  • Analysis of your business as it is today
  • Workshopping specific strategies (with you) for your strategic plan
  • Implementing, monitoring and maintaining your business to plan

If you were unable to keep managing your business, would it be able to continue to trade and prosper?

What if your business partner or another business director was to die suddenly? How would you cope?

And what if you were to die suddenly? How would your family cope?

Or are you just looking to sell out or retire?

Death, disability, illness and retirement are not always predictable. Succession planning protects your business, its assets and its value should the unforeseen occur.

A succession plan may comprise of a number of strategies to ensure that the business enables management to succeed and for the business to continue to be in good hands long after the original founder/s have gone or moved on.

Sadly, too few small to medium businesses have succession plans in place, should the unforeseen happen and the business founder/s are no longer in a position to run their business or they want to sell it or retire.

KMW can help you to implement succession strategies to suit your business.

Complimenting our succession planning service, KMW also provides tax planning advice for family businesses and larger businesses with potential management buy-outs.

By providing commercial and viable tax effective advice on succession plans for such businesses, all parties develop a clear vision of the process. This enables a smooth transition for one generation to cede control to the next, taking into account funding arrangements, taxation outcomes and agreed changes of control.

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