CP – More Than Just Numbers

With more than seventy years combined experience, CP provides specialist tax and accounting services across a broad spectrum of financial matters, both business and personal. Our clients enjoy friendly, personalised advice that is tailored to meet their specific needs. More than just an accounting practice, our expert team is well placed to partner you or your business in navigating the complex and sometimes challenging aspects of financial management, from starting a business to estate planning.

We are Australian owned and as such provide a level of care and one-on-one service that only a locally owned practice can deliver. Our team keep abreast of the ever-changing financial landscape to ensure every opportunity is realised. So if you’re looking for financial services with integrity, a firm with a wide breadth of knowledge and personable service at CP you’ll be in good company, just ask our clients.

 

Our Story

CP, formerly known as Clements Partners, was established by Kevin Clements in the mid 70’s. Originally based in Springvale and then Waverley Road in Malvern East, Kevin established a reputation for honest, informed advice and in doing so, built a loyal and diverse client base.

Stephen Culpitt joined the firm in 1996 and Damien Rys in 2002. Recognising the businesses’ potential both invested thereby enabling Kevin to initiate his transition to retirement in 2006.

The firm moved offices to the business precinct of Glenferrie Road, Malvern in October 2008. Since that time it has continued to grow and develop reflecting the vision of its partners, resulting in a recent move to Hawthorn Road, Caulfield North.

CP has always embraced values such as integrity, honesty and transparency. As the team grows it continues to embody the spirit of partnership and genuine concern for the financial prosperity of CP clients. To do this effectively the business provides a diverse range of financial services. From bookkeeping to taxation our personable team are well informed; their depth of knowledge enables them to add value well beyond just numbers.

 

Services

At CP we provide advice when your business needs it, not just when you ask for it. We help you manage every aspect because we establish a one-on-one relationship with each of our clients so advice is tailor-made for your business. To enable us to do this we’ve developed our traditional tax and accounting practices into innovative client-focused services. Our flexibility and adaptability ensure you realise the best results.

We work across a range of industries and in particular, specialise in the following: Hospitality and Retail, Health and Fitness, and Building and Trade.

Getting down to business

This list of services is by no means exhaustive, so call us to discuss your specific needs.

 

Tax

• Taxation
• GST Management
• Rental Property
• Succession Planning

Taxation

At CP we offer a full range of taxation services. Our taxation consultants offer advice based on a depth of knowledge and experience. Our proactive approach ensures we deliver consistent service and build solid relationships that stand the test of time.

Taxation can be a major cost to your business. We will work with you to minimise your tax and help you achieve your key objectives. We provide a complete service of assistance and advice in each of these areas:

• Preparing activity statements and advice on tax payments
• GST/FBT obligations
• Advice on, and implementation of, tax effective trust structures for asset protection and tax minimisation
• Managing any ATO audits or disputes

 

GST Management

The GST system is a complex and confusing one. Consequently CP ensures our team remains up to date with any changes enabling us to offer you timely, accurate advice.

Every transaction now has an associated GST issue. We are experienced in these matters and can provide expert advice on the GST implications for your business. The GST related services we offer include but are not limited to:

• Advice on registering for GST
• Filing and adjusting GST returns
• ATO audit assistance

 

Rental Property

At CP we have the expertise required to assist you in a variety of areas relating to residential and commercial property.

The services we offer include:

• Advice on purchasing a property
• Reviews of lease agreements
• Advice on funding
• Guidance in tax minimisation
• Advice on ownership structure
• Periodic reviews to ensure returns are maximised

The importance of forecasts in making a residential investment cannot be emphasised enough. We can provide you with forecasts for:

• Revenue returns
• Financial position
• Potential growth

Contact us today for more information on how we can assist you in the business of rental properties!

 

Succession Planning

To ensure the long-term success of your business it is critical to establish a well-designed succession plan. Coordinating the transition of your business to your successors can be an arduous process. However, with our years of experience we can address the complex issues of business continuation removing the stress from your shoulders.

Contact us for more information on forming a plan that facilitates a hassle-free continuation of your business.

 

 

Accounting

• Budgeting
• Business Start-Up
• Cashflow Forecasting
• Corporate Compliance
• Management Accounting
• Selling a Business

Budgeting

A thoroughly considered budget is a necessity in good business planning. It’s one of the best business tools available to you enabling you to set informed financial targets and measure your performance. Our financial projection techniques also uncover potential future scenarios and goals to strive for.

In addition to goal-setting value, budgets often improve your chances of acquiring funding; financiers tend to require budgets as a prerequisite for funding approval.

There are many types of budgets and we will help design the right budget for your specific business.

Let us demonstrate how a budget can provide feedback that helps you and your business prepare for the future!

 

Business Start-Up

If you’ve got a good idea for a new business venture but don’t have legal or financial expertise we can help you:

• Decide on and then set-up the most suitable structure for your business – whether it be a sole trader, partnership, trust, self managed superannuation fund or limited company
• Prepare a business plan, cash flow projections, budgets, and trading forecasts
• Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
• Establish a good working relationship with your bank
• Registrations with the Australian Taxation Office where necessary for a Tax File Number, Australian Business Number, GST, PAYG Withholding
• Complete incorporation and registration procedures with the Australian Securities and Investments Commission
• Deal with company secretarial issues
• Set up a recording system for your internal use to ensure compliance with statutory requirements

Let us help you turn your business idea into a reality!

 

Cashflow Forecasting

Are you holding too much inventory? Is this the right time to expand your business? Do you have enough cash to pay all your expenses every month? The answers to these questions can make or break your business. We can provide you with accurate, timely, informed cash flow forecasting reports that enable you to:

• Realise and understand when cash is available
• Plan and prepare for expansion, stock control, and taxes
• Analyse and anticipate key expenses

Equipped with this information we’ll work with you to develop action strategies that improve your bottom line.

 

Corporate Compliance

Compliance with company legislation can be onerous and time consuming. The last thing a business owner needs is the stress associated with understanding Corporations Law, but the risk in failing to do so is significant. We can manage this for you. Our services include:

• General advice on company law
• Company formations
• Filing annual returns on your behalf
• Preparing all documentation related to minutes and resolutions
• Maintaining statutory books
• Assistance with changes of directors, shareholders, addresses, and office details
• Bonus issues
• Share transfers
• Registered office facility

It’s our job to understand compliance complexities, so talk to us about managing this function so you can get back to running your business.

 

Management Accounting

Management accounting is concerned with the provision and use of accounting information that better equips business in management and control functions thereby enabling managers and business leaders to make informed business decisions. CP can assist in management accounting that can involve these aspects:

• Primarily forward-looking, instead of historical;
• Model based with a degree of abstraction to support decision making generically, instead of case based;
• Designed and intended for use by managers within the organisation, instead of being intended for use by shareholders, creditors, and public regulators;
• Usually confidential and used by management, instead of publicly reported;
• Computed by reference to the needs of managers, often using management information systems, instead of by reference to general financial accounting standards.

Selling a Business

Selling a business can be a difficult, disheartening time and the tasks involved can seem particularly arduous. At CP we take the unwanted burden from you.

The services we provide for the preparation to sell a business include:

• Obtaining comparative results
• Establishing a realistic sale price
• Taking the business to the market
• Negotiating with potential purchasers
• Drafting a contract

Our friendly, professional team are there to help you maximise the return for your business.

 

 

Superannuation

• Superannuation
• Self Managed Super Funds
• Insurance

Superannuation

The Government now encourages Australians to take responsibility for their financial retirement goals and therefore requires you to grasp the complexity associated with superannuation funds. Self-managed superannuation is a means of saving for retirement that enables you to control your investment strategy, reduce tax while obtaining tax benefits and control administration costs.

Superannuation law is a delicate area and personalised planning is required. The team at CP are superannuation experts able to assist in establishing a superannuation fund that will effectively enable you to reach your financial retirement goals.

Services we offer include:

• Establishing self-managed superannuation funds
• Superannuation audits
• Advice on compliance matters
• Advice on taxation benefits
• Advice on employer obligations

 

Self Managed Super Funds

There are several trust laws and legislative requirements associated with establishing a self-managed superannuation fund (SMSF). Typically you need to:

• Obtain a trust deed
• Appoint trustees
• Sign a trustee declaration (NAT 71089)
• Elect to become a regulated fund
• Obtain a tax file number (TFN)
• Obtain an Australian business number (ABN)

At CP we provide the professional advice you need to set up your own fund and greatly simplify the process for you.

 

Insurance

Insurance is all about managing risk – as the old saying goes, ‘better safe than sorry’. While none of us expect the worst, it is important to be prepared to protect yourself against financial hardship. Getting the right level of insurance cover can provide valuable protection against a range of consequences that are hard to foresee such as sickness, accident, theft or natural disaster. We can help cater for all your insurance needs including:

• Business & Personal Insurance
• Life & Trauma Insurance
• Income protection insurance
• Audit Insurance