Management accounting reports include:
Management meetings can be convened to discuss your accounting results and any emerging trends in your business. Training in understanding and analysing financial accounts can be organised for you, or your staff, if required.
Bray & Associates prepare annual statutory financial statements that comply with the very latest Australian equivalent of International Financial Reporting Standard (AIFRS). Preparation of consolidated financial statements across related entities will help you to analyse the performance of your whole business. John Cary is a registered company auditor with experience in abroad range of audit services.
Statutory accounts are professionally presented to financiers, directors and/or shareholders as required.
Today's business world is characterised by ever-tightening margins and rising overhead costs, yet there are opportunities for the well informed business manager. Comprehensive strategic plans for your business should be developed with help from our staff at Bray & Associates.
The Bray & Associates planning process culminates in a detailed business budget that quantifies your business goals. The budget allows you to regularly benchmark your business decisions against a detailed plan – a critical process in good management.
Budgets compiled by Bray & Associates are specifically designed to suit individual industries. Bray & Associates will work with the managers and directors of your particular business to ensure that all plans are thoroughly researched, critically analysed and professionally documented. Bray & Associates will also conduct directors' meetings, management reviews and manage special projects as required.
Payroll Services include:
Bray & Associates have experience in Business Valuations required for ownership restructures, business succession, intergenerational transfers, International death duties, family law matters, purchase and sale of businesses including due diligence.
Bray & Associates provides specialised taxation advice and lodges tax returns. Tax returns are prepared by our tax accountants using Australian Taxation Office approved software packages.
Specific taxation services provided by Bray & Associates include:
Bray & Associates provides regular taxation advice to its clients including the calculation of mid-year tax estimates and taxation planning. We will also utilize our strong relationships with larger accounting firms to provide clients with highly specialised tax law consultations on complex tax planning matters.
Maintaining a strong ethos of good corporate governance takes time and dedication. Bray & Associates helps in this process by completing many of the compliance tasks for you in an accurate and timely manner.
Bray & Associates provides the following business secretarial services:
We have a specialist team of qualified staff to assist with your superannuation requirements. Our SMSF Manager is an Associate Member of the SMSF Association and is ASIC RG146 qualified in the areas of SMSF Specialist Knowledge and Superannuation Generic Knowledge. Bray & Associates are not licenced to provide financial product advice under the Corporations Act and we encourage our clients to consider taking advice from an AFS licensee before making a decision about a financial product.
Our services include accounting and tax services, administration, and all areas of compliance. We can provide you with taxation and compliance advice relating to:
We work with an independent specialist SMSF Auditor to ensure your SMSF meets its regulatory obligations.
As a registered tax agent, Bray & Associates is able to attend to all tax and activity statement lodgement obligations for your SMSF with the Australian Taxation Office.
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If you have any questions in relation to your superannuation arrangements, please make an appointment to
speak to Suraj Gill.
As a business owner, no matter what size or type of business you operate, you must have a succession plan in place for the inevitable day that you decide to transfer the management and control of your business to someone else.
This may occur because you have planned strategically to sell your business or hand the reins over to family or an existing employee. Alternatively you may have to exit the business in a hurry due to ill health or unforeseen circumstances.
Bray & Associates can help you put together a structured succession strategy that will enable you to leave behind a legacy of a profitable and sustainable business. This will help you to identify/attract the right successors, help to ensure a smooth transition to the new owners and ensure that any tax consequences on the disposal of your business are appropriately managed.
Bray & Associates also offers a unique estate planning service which enables you to tailor your estate plan to meet your individual circumstances no matter how complex. We will work with your legal advisors in the drafting of the following documentation as appropriate:
A properly drafted and tailored Will is vital to ensuring your estate planning objectives are achieved in the most tax effective manner possible and to ensure your assets are protected for those you wish to benefit. In certain cases a Testamentary Trust operating in conjunction with your Will may assist you to achieve significant tax savings to maximise the benefits flowing through your estate.
There are two types of Power of Attorney documents: the General Power of Attorney, and an Enduring Power of Attorney.
A General Power of Attorney is a legal document that allows an individual (the principal) to appoint an attorney to make financial and legal decisions on his/her behalf. However, it is only effective while the principal has the mental capacity to make his/her own decisions. If the principal becomes mentally incapacitated or loses the ability to make decisions, the General Power of Attorney becomes invalid, and the power of the person appointed to act on behalf of the principal ceases.
This means that a General Power of Attorney is suitable for situations where the principal needs temporary assistance or support in managing his/her financial and legal affairs but anticipates that the person should be able to make decisions on his/her own in the future.
An Enduring Power of Attorney is similar to the General Power of Attorney in that it allows the appointment of an attorney to manage financial and legal matters on behalf of the principal. However, the key distinction of the Enduring Power of Attorney is that it continues to be effective even if the principal becomes mentally incapacitated or unable to make his/her own decisions. The enduring nature of this document means that the appointed attorney’s authority endures beyond the incapacity of the person granting the Power, allowing ongoing management of his/her affairs by the person to whom the power is granted.
Many people focus on planning ahead for their financial and legal affairs by making a Will and Enduring Power of Attorney, but often do not consider what will happen if they find themselves unable to make personal and medical decisions due to illness or accident.
An Enduring Guardianship is a legal document that enables a person to appoint another person (the guardian) to make personal decisions if their decision-making ability is impaired.
Your guardian may make non-financial decisions such as where you live, what services are provided to you at home and what medical treatments you receive.
Enduring guardianship only comes into effect if your decision-making ability is impaired and will only be effective during that period of impairment. Therefore, it may never become operational.
