We are committed to providing a comprehensive range of accounting, tax and advisory services for today's economic environment that help you realise your goals.
Leaders in accounting and taxation that are dedicated to helping our clients with high quality services in a professional, easy to understand, friendly and cost-effective manner.
We are here to support you in your business or life stage, by assisting you in building a chain of wealth from wherever you are today to a future beyond your expectations.
The flexibility of an SMSF could give you greater control over your own investment decisions and tailor your super to support your own retirement objectives.
Lawrie Accounting was formed in 2020 and our team bring with them many years of experience and expertise. While we are located in Hilton South Australia, we also provide services to clients in many regional areas and states throughout Australia.
Our personal approach enables us to form long term relationships with clients while providing professional advice and services. Our aim is to empower our clients to build successful businesses through taking the time to understand their business and offering solutions to many aspects that face small business as well as reliable taxation advice.
Our services include, but not limited to, Business Advice, Taxation services and planning for all entities, Self-Managed Superannuation Fund Accounting, Administration and Auditing services. We can assist you with all aspects of Business setups, budgeting, cashflow and software solutions.
Whatever your personal situation is, you can be sure that we will provide you with timely and affordable support or assistance.
Steve has over 25 years accounting experience. He began his career in regional South Australia, before moving to Adelaide and becoming a Partner in a multi-partner firm for 12 years. In 2020, Steve formed Lawrie accounting to be able to continue offering his clients a personal approach to their accounting requirements. He enjoys working alongside his clients to ensure they have a strong understanding of their financial affairs. As well as general tax requirements, Steve offers business advice and planning for clients to ensure their business is successful. Steve obtained a Bachelor of Business in 1993, has been a Certified Practicing Accountant (CPA) since 1999 and a Registered Self-Managed Superannuation Fund Auditor since 2013.
Katina Weeks
Beginning her accounting career in 2009, Katina has been in the industry for more than 10 years. During this time she has gained valuable knowledge and experience in all areas of accountancy and taxation. By working directly with numerous clients in differing industries, Katina has developed her skill set and familiarisation with varied accounting software solutions and is able to provide relevant and timely business advice. Becoming a Certified Practicing Accountant (CPA) in 2013, Katina also specialises in the accounting and audit of Self-Managed Superannuation Funds
Sharon Lawrie
Sharon is our Office Manager and brings with her over 10 years of accounting knowledge. Throughout the past 20 years she has assisted different businesses with their bookkeeping and payroll requirements across a variety of software programs and industries. She also has certification with Xero and Xero Payroll and can assist clients with any Xero requirements.
Personal Accounting
Find an accountant that gets the bigger picture, helping you solve your business problems and empowering you to reach your goals. Having a knowledgeable expert focused on your personal financial and accounting needs simply allow you to spend enough time on struggling in the areas where you can excel much.
At Lawrie Accounting, we are aimed to help you in personal accounting services and can proficiently provide you with the great record of your financial transactions and offer the advantages of having maximum foresight into your potential gains and losses.
We have a dedicated team of accountants who are able to provide private wealth management services to help clients to achieve their financial goals. We can assist with:
General accounting and taxation advice
Preparation of tax returns
Advice on rental property taxation and negative gearing
Building a business can be a time-consuming process. You've got clients or customers to chase, staff to manage and many more day-to-day aspects that keep you busy. We provide you with the support you need to manage your accounts, taxes and bookkeeping effectively, giving you more time to attend to other business matters.
We offer a wide range of services for businesses to assist with their accounting and taxation requirements. From advice for startup and established businesses to the preparation of your end of year reports, our team are here to help you.
We provide a full range of Accounting Services to assist you in gaining an accurate picture of your business, to provide the basis for future planning and meeting your compliance obligations.
When the time comes to deal with your own taxation and accounts, it can be stressful and hassling. Though through good preparation and planning, you can make tax time work for you and potentially reduce the impact of tax, while keeping up to date.
Lawrie Accounting are specialists in taxation services and we aim to provide our clients with comprehensive tax planning advice and strategies, all at competitive prices.
We also complete tax returns for individuals. They can be complex and there are allowable tax deductions and expense claims that can be made that you may not be aware of. We can help you minimise your payable tax and potentially increase your tax return and make sure your tax return is lodged on time. We also offer advice on:
BAS preparation: We can prepare your Business Activity Statements (BAS) and ensure every claim is met.
GST Advice: We provide advice in relation to transactions that may have GST implications.
Tax Returns: From the most basic to the very complex we can prepare your tax returns.
Instalment Activity Statements (IAS): We can assess your personal circumstances and ensure the correct amount of tax is paid on your quarterly IAS.
PAYG Variation: For those clients who have extensive claims we can put in place a PAYG variation to ensure you get your tax refund each week rather than in one lump sum at the end year.
Fringe Benefits Tax: We can prepare your FBT return where a fringe benefit is provided to employees.
Tax can be complicated in many ways—that's no secret. What can you actually claim? Are you entitled to any government incentives or benefits? Is there anything you should concern yourself with when recording expenses?
A professional accountant can help you identify potential tax deductions and government benefits in detail, which could help you minimise tax payable. They'll also inform you of any obligations and laws that you have to meet and abide by, thus helping you stay up to date.
There are four main business structures commonly used by small businesses in Australia and we can help with them all:
Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.
Partnership: an association of people or entities running a business together, but not as a company. A partnership is relatively inexpensive to set up and operate.
Company: a legal entity that is separate from its shareholders.
Trust: an entity that holds property or income for the benefit of others. Trusts require a formal trust deed that outlines how the trust operates, requires the trustee to undertake formal yearly administrative tasks and if you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection.
It is important to note that you can change your business structure throughout the life of your business.
We can help with the following:
Corporate Structures
Updating your business plan
Business value maximisation
Systems review
Sustainability
Strategic planning
Financial diagnostic analysis
Cash flow and profitability
Corporate compliance
Formation of trusts and new company registrations
Provision of registered office services for service of notices
Attending to ASIC returns and regular filings on your behalf
Self-Managed Superannuation Funds (SMSFs) offer an alternative strategy option for many individuals, families and small business owners to build tax effective wealth and protect assets over time. SMSFs are becoming popular for those who are ready to take control of their own super investments as they give you ultimate control and flexibility to manage your retirement benefits.
It must be noted though, that you will have increased responsibilities as a trustee of the fund. As a SMSF Trustee, you need to keep up to date with all required SMSF regulations and be aware of changes occurring in financial markets.
We can work with you to understand your personal financial situation and decide whether a SMSF structure is appropriate for you. We will also help you to invest your assets in the most effective way to maximise your retirement benefits, whilst complying with your fund’s investment strategy.
It is generally agreed that there are a number of benefits of an SMSF, but it is important that you also understand that an SMSF may not suit your situation. Outlined below are some of the reasons why a SMSF needs to be considered carefully before establishment:
Benefits:
Control - trustees make the investment decisions;
Asset allocation – trustees are in control of asset allocation decisions, as well as issues related to borrowing;
Tax strategies – trustees have control of tax strategies and other planning options;
Transparency – your SMSF provides you transparency concerning investments and visibility and control of taxation treatment as a result of investment decisions taken within the fund;
Cost – expenses of running and administering a SMSF fund are not based on a percentage of the value of the fund, but more on the time needed to prepare reports and address relevant compliance matters;
Disadvantages:
Running and managing a SMSF may not be suitable to everyone. Many of the advantages are also a disadvantage:
Costs may be relatively high where the asset balance in the fund is insufficient to generate economies of scale due to the fixed costs of running the fund.
There can be too much flexibility for prudent investing and the fund’s assets must remain within its Investment Strategy.
Remaining on top of trustee responsibilities is complex and will require an investment of your time.
Poor personal knowledge of the investment landscape can have serious consequences.
Should you wish to consider establishing a SMSF then we can help with:
Portfolio creation, providing research and recommendations on investments for the fund.
Ongoing Portfolio Reporting Services, assisting with ongoing investment management of the fund, including corporate actions and share purchase plans.
Referrals to professionals who can assist with the accounting and audit requirements of the fund, providing support with the compliance burden on you as Trustee.
Asset sales and contribution strategies to maximise the benefit you achieve through the fund.
Pension advice including reference to the legislative requirements helping you meet your obligations as a Trustee and manage the fund effectively on an ongoing basis.
Superannuation contribution and ongoing strategy support, utilising legislation to build a solid retirement benefit.
More small to medium-sized businesses are moving to cloud accounting and using cloud based applications for their bookkeeping and accounting needs through desktop and mobile apps. All businesses need to keep track of their accounts, and cloud accounting allows businesses to make invoicing and cashflow management decisions based on more up to date information. It also provides for other business efficiencies including payroll for off premises workers. The cloud revolution is propelled by fast, reliable internet, cheaper servers and widely-used open-standards for interchanging data and instructions between software. Moving to the cloud does not increase data risk if good password policies and back-up strategies are in place. Businesses should ensure staff understand modern security risks and complete training when moving to cloud accounting or using any service that provides remote access.
Contact us to discuss your circumstances so we can help determine the most appropriate solution for you based on functionality, ease of use and cost.
The main cloud accounting players in Australia are:
Reckon – Intuit (the global company) created QuickBooks software and Reckon (the Australian company) now continues to provide this cloud-based accounting software in a variety of formats including desktop, hosted and online cloud versions.
Quickbooks Online – Provides a cloud based version of their previous product, QuickBooks.
MYOB – An Australian company originally offering desktop accounting software, now offers several subscription-based cloud accounting products, including both desktop and cloud versions of their product.
Xero – A New Zealand based software company that offers cloud-based accounting software for small to medium-sized businesses.
