What's the difference between a tax accountant and a tax adviser?

Compliance work looks backwards. It reports what has already happened and lodges it correctly, on time. Tax advisory looks forward. It is about the decisions you make before the transaction, while there is still something to influence. Think of how a business is structured, when an asset is sold, how super contributions are timed, what happens when money comes out. We do both and most of the value sits in the forward-looking half.

Can one firm handle both my tax and my financial planning?

Yes, and at 5 Financial that is rather the point. Wealth management, tax and advisory, and finance broking all sit within the one firm, so the person preparing your tax return and the person planning your retirement work from the same file. The gaps that cost people money usually appear between different providers.

Do I have to change accountants to work with you?

No. Some clients use us for wealth advice and keep the accountant they have used for years; we will work alongside them. Others move everything across overtime. We won't push you either way, though we will be honest with you about where things are falling between the cracks if we can see it happening.

What does proactive tax advice look like?

It looks like a conversation in March rather than an update in October. Reviewing whether your structure still suits the business it was set up for. Planning the timing of an asset sale rather than reporting it afterwards. Looking at super contributions and thresholds before 30 June. Checking that a lending decision and a tax position are not working against each other. The common thread is that all of it happens while you still have choices.

Do you work with businesses as well as individuals?

Yes. Alongside tax advisory and compliance, we offer Virtual CFO and business advisory services, along with outsourced bookkeeping and accounting. For business owners, the useful part is usually that the business advice and the personal wealth advice come from the same firm. Because for most owners those were never really separate questions.

What does tax advisory cost, and how do you charge?

We quote upfront, based on scope and complexity, after an initial conversation at no cost. There are no long lock-in contracts so you can amend or end the agreement at any time. If your circumstances change part-way through the year, we adjust the scope rather than hold you to something that no longer fits.

Tax advisory services | 5 Financial

Tax time can feel stressful and overwhelming but it doesn’t have to be that way. Whether you need tax advice for yourself or your business, our friendly, qualified and experienced accountants are ready to guide you.

Our goal is to provide you with quality advice and better tax outcomes that help you build and protect your personal wealth and/or grow your business.

We provide expert taxation advice on the following and more:

Tax-effective structuring for small to medium-sized businesses
Tax effective distributions by trusts, partnerships and other entities
Superannuation structures
Business sale and succession planning
Capital Gains Tax (CGT)
Goods and Services Tax (GST)
Fringe Benefits Tax (FBT)
Sale of real estate (including the margin scheme)
Personal Services Income (PSI)
State-based taxes (stamp duty, payroll tax and land tax)
ATO correspondence and dispute management
Employee share schemes

You can be confident we stay across the latest developments in the tax and accounting industry so you’ll always receive the most current and effective advice.

At 5At, we’re flexible and dynamic. If your business or individual circumstances change, we can amend our services accordingly. And when you choose to work with us, you won’t be locked into any cumbersome contracts. You can vary/terminate the agreement you have with us at any point.

Do you need accurate, high-quality tax advice? Contact one of our qualified and friendly tax accountants today to arrange a complimentary consultation.

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Frequently Asked Questions

Has your question been answered? If not, please drop us a note and we’d be very happy to supply more info. Alternatively, please feel free to call us on 02 9739 6555 and we will be happy to answer your questions or put you in touch with the relevant specialist adviser in the firm.

Accounting & Tax

Tax Advisory

Get accurate, timely and effective tax advice for yourself or your business.

Frequently Asked Questions