Business Packages
Upfront, fixed-free pricing. No surprises here.
And as a Xero platinum partner we receive a 30% discount on Xero subscriptions – which we pass on to you!
- Compliance
- You just want help with compliance and tax advice with some additional support
- Annual planning meeting
- Cloud accounting subscription
- Annual financial statements
- Annual tax return
- Compliance + Reporting
- You want to take your business to the next level and use reporting to make better decisions.
- Annual planning meeting
- Cloud accounting subscription
- Annual financial statements
- Annual tax return
- Quarterly BAS lodgement
- Quarterly management reports
- Half yearly review meeting
- ASIC compliance
- Quarterly review meetings
- Bookkeeping (needs to be scoped)
- Compliance + Reporting + Accountability
- You want full financial oversight and accountability to achieve your big goals
- Annual planning meeting
- Cloud accounting subscription
- Annual financial statements
- Annual tax return
- Quarterly BAS lodgement
- Quarterly management reports
- Half yearly review meeting
- ASIC compliance
- Quarterly review meetings
- Bookkeeping (needs to be scoped)
- Monthly accountability meeting (1hr)
- Annual benchmarking
- Annual business valuation
- Designed for businesses with annual revenue up to $500k
- Xero file subscription
- Bank reconciliations -up to 50 transactions
- Matching of Customer Payments
- Matching of Supplier Payments
- Payroll - add $15/payslip/month
- Designed for growing businesses with annual revenue up to $1m
- Xero file subscription
- Bank reconcilations - up to 150 transactions
- Matching of Customer Payments
- Matching of Supplier Payments
- Payroll Processing for up to 10 employees
- Superannuation reminders
- Annual PAYG Summaries
- Additional Payroll of $10/ payslip/month
- Designed for growing businesses with annual revenue up to $1m
- Xero file subscription
- Bank reconcilations - up to 150 transactions
- Matching of Customer Payments
- Matching of Supplier Payments
- Payroll Processing for up to 10 employees
- Superannuation reminders
- Annual PAYG Summaries
- Additional Payroll of $10/ payslip/month
- Designed for businesses with annual revenue over $1m
- Xero file subscription
- Bank Reconcilations - up to 300 transactions
- Matching of Customer Payments
- Matching of Supplier Payments
- Payroll Processing for up to 25 employees
- Superannuation reminders
- Annual PAYG Summaries
- Additional Payroll of $10/ payslip/month
If we do your bookkeeping as well as your compliance we can deliver an overall more efficient, effective and affordable solution.
Testimonials
Proudly Serving Hundreds Of Happy Clients
We have shown hundreds of individuals and businesses how toachieve their goals in business, family and life.
Explainer: Why create a holding company
There are many different ways to structure your business; one of which is to establish a holding company.
If this term is new to you, here’s some information about how it works and why it’s a strategy that might make sense for your business.
What is a holding company?
Holding companies typically aren’t trading entities. Their purpose is usually to own (hold) shares in other companies, which are referred to as ‘subsidiaries’.
A holding company is also commonly used to hold:
- IP (trademarks, patents, goodwill)
- Cash
- Real estate
- Other investments
Holding companies are protected from liquidations or other financial woes that might affect their subsidiaries. If a subsidiary goes under, the holding company usually won’t be responsible for covering the subsidiaries liabilities.
An Australian example of a holding company is Seven Group Holdings, which has multiple subsidiaries including Coates, WesTrac and Seven Media Group.
Typical Group Structure:
Should you establish a holding company?
Creating a holding company may work for your business for the following reasons:
- Protection from liability: As mentioned above, holding companies cannot be held accountable for the debts and other liabilities of their subsidiaries. This means that if a subsidiary company goes under, there is no danger to the holding company.
- Enables tax effective shifting of profits and cash from trading companies (subsidiaries) into a separate entity (ie the holding company), which results in improved asset protection
- Cheaper loans: Holding companies can have greater financial strength than their subsidiaries, and hence can potentially obtain finance at a lower cost. They can then filter the contents of the loan to a subsidiary that is in need of capital.
- Innovation: Having subsidiaries can foster innovation. Because subsidiaries are not a risk to the holding company, shareholders are less affected when a subsidiary is taking risks and pushing innovative limits.
- Free form management: For the holding company, there is no lost time in managing subsidiaries, and for the subsidiaries, the holding company does not interfere with day-to-day management.
- Asset control for less cost: A holding company only needs a controlling share in its subsidiaries, not necessarily one hundred per cent ownership. This can broaden the number of assets the company can control without extra cost.
- Opportunities for acquisitions: Your holding company may acquire shares in or ownership of businesses outside of your own.
If you’re a business owner, you may decide to set up a holding company for the above reasons or because you want to diversify and invest in new ventures without keeping all your eggs in one basket or overpaying on tax.
What are the downsides of holding companies?
A holding company may not work because of the following:
- Establishing the company and ongoing costs: Forming a holding company is complicated and requires ongoing costs to remain legally compliant. It needs to have enough subsidiaries with enough profits to justify the expense.
- Management issues: In cases where the holding company doesn’t own all of a subsidiary, there are minority shareholders to be dealt with and management issues can arise. It can also be an issue if the holding company operators lack knowledge of the sector in which the subsidiary is based.
- Complexity: As soon as a holding company enters the picture, things like accounting and tax become more complex. This doesn’t have to be a bad thing; it simply means you need the support of the right people.
Interested to switch to a holding company structure?
If your business has reached the stage where creating a holding company may make sense, please reach out. Imagine Accounting can work together with you to create a plan and get the ball rolling.
Want to know more about holding companies? Get in touch with Imagine Accounting in Chatswood today.