Welcome to Glance Consultants

At Glance Consultants our experienced team is committed to providing a personalised service to meet our clients’ diverse needs. We offer up-to-date, tailored advice and take great pride in ensuring our clients are well-equipped with the knowledge & skills they need to succeed. Read More

Get in touch for personalised advice tailored to your business Contact Us

Glance Consultants Chartered accountant Ashburton – offer a range of accounting, taxation & business advisory services to businesses, individuals & SMSF clients. We are here for all your accountancy, bookkeeping and business advice needs. You can rely on Glance Consultants chartered accountants to take care of your finance requirements

Our Services

We provide a tailor made service to our clients to meet their specific needs.

Business Taxation Services

  • Business Taxation Advisory & Planning
  • Taxation Audit Support and Australian Taxation Office Liaison
  • Preparation & Lodgement of Annual Taxation Returns

Business Advisory

  • Management & Financial Reporting
  • CFO Services
  • Strategic Business Advice & Planning
  • Due Diligence Process – Purchase of Business
  • Cashflow Management, Forecasting and Budgeting expertise

Individual Taxation Services

  • Taxation Advice & Planning
  • Preparation & Lodgement of Annual Taxation Returns
  • Taxation Audit Support and Australian Taxation Office Liaison

Self-Managed Super Fund
Taxation

  • Formation of Self-Managed Superannuation Funds including all required registrations
  • Financial Statements and Returns including the preparation of Annual Accounts, Member’s Statements, Income Tax and Regulatory Returns
  • Self-Managed Superannuation Fund Audits

Audit and Assurance

  • Self-Managed Superannuation Funds (“SMSFs”)
  • Owners Corporations
  • Solicitors’ Trust accounts/External Examination for Lawyers
  • Real Estate Agents’ Trust accounts

Bookkeeping Services

  • Xero Accounting Software Integration
  • Bank account and credit card reconciliations
  • BAS Services
  • Payroll Services

Wealth Creation & Risk
Management

  • End to end Financial Planning
  • Residential, Personal and Business Finance
  • Insurance
  • Property

Client Testimonials

Glance Consultants provided us with invaluable guidance in setting up our unit trust and corporate trustee. We also use their expertise on an ongoing basis for both our business and individual accounting needs. Kavi and the team are always ready to answer our questions. We have no hesitation in recommending their services.

Mustardseed Capital

Just wanted to mention how happy I was with your service. Thank you very much for your quick turnaround and a very healthy return, appreciate that you made it so simple and painless. Highly recommend to anyone else who is interested in getting their tax done .

Brian

Registering as a Sole Trader? Here are some tips

 

The most cost effective and straightforward business structure you could set up in Australia is a sole proprietorship or sole trader. It’s a business type that doesn’t have any legal distinction between the business entity and the owner. 

A sole trader business structure is popular among consultants and individual contractors. Most operate under their personal names because you’re not required to have a separate trade or business name. Just as it’s easy to set up, a sole trader business is also relatively easy to dissolve.

Are you thinking of registering as a sole trader? Here are some tips to help you get started. 

Sole Trader Vs. a Company and a Partnership 

The main advantage of registering as a sole trader is that you don’t have to pay workers’ compensation, PAYG tax withholding and payroll tax (if you do not employ staff), as you’re not considered an employee of your business. Additionally, you are able to offset any losses in your business against other income-generating assets, such as your personally held investments provided certain criteria are met. A Sole Trader structure may suit best for individuals operating as consultants or individual contractors due to Personal Services Income issues, however this will depend on your particular situation.

A Sole Trader structure offers complete control over your business compared to a partnership or company structure where you may have other partners.

Another factor to consider is that this type of structure does not offer the income tax minimisation opportunities that a company structure could potentially offer.

Unlike a company structure, you have full liability for debts of your business as there is no legal distinction between private and business assets. This liability could place your personal assets at risk. Because you and your business aren’t two separate entities, your business’s debt could be considered your personal debt, too. However, note that even under a company structure, the director can be personally liable for debts such as unpaid employee entitlements.

With a partnership, each partner is jointly and severally liable for the partnership’s debts – that is, each partner is liable for their share of the partnership debts as well as being liable for all the debts.

Things You Need to Register as a Sole Trader 

If you would be using your name, you won’t have to register a business name to set up a sole trader business.

You will first need to apply for an Australian Business Number (ABN).

If your annual business turnover is or likely to be more than $75,000/annum, you are required to register your business for goods and services tax (GST).

Finally, don’t forget to include your business income and losses as part of your income tax return.

 Not sure if a sole trader is the right business structure for you? Call us at 03 9885 9793 or fill out our contact form to determine how we can help you get your business off the ground.       

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