Bray and Associates

Bray & Associates will prepare your management accounts quarterly so that you are promptly aware of the performance of your business. This means that you can make well-informed business decisions and can react quickly to changing business conditions.

Management accounting reports include:

• Enterprise accounting to analyse the performance of each business unit or investment category relative to the
  entire business
• Variance analysis – comparing actual performances to your budget
• Statistical analysis and comparisons to industry benchmarks for financial and production performance assessment

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.

STATUTORY REPORTING

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.

Tax & Business Services

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

Payroll Services include:

• Payment of monthly salaries for permanent employees and periodic casual wages
• Electronic/direct deposit into employees' bank accounts.
• Maintenance of administrative records including individual pay records and employment agreements
• Preparation and distribution of PAYG summaries to employees
• Processing of employer superannuation obligations including Fund of Choice obligations
• Processing statutory workcover obligations
• Review of individual employment agreements including salary packaging arrangements
• Assistance with recruitment
• Advice on Award issues and employer obligations

BUSINESS VALUATIONS

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.

TAXATION

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:

• Preparation of family income tax returns for related individuals and entities including calculation of investment income and capital gains tax
• Preparation of the business entity's tax return including adjustments to reflect net market inventory values, fixed asset depreciation and other tax related matters
• Specific tax consulting assignments
• Collection of relevant GST data
• Preparation of quarterly BAS return including calculation of GST, PAYG withholding and FBT
• Calculation of relevant fringe benefits provided to employees
• Preparation of annual FBT returns
• Preparation of annual statutory financial accounts consisting of detailed profit and loss statement, inventory schedules, balance sheet and supporting notes to the accounts
• Preparation of consolidated financial statements for related entities

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.

COMPANY SECRETARIAL SUPPORT

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:

• Provision of registered office
• Provision of company secretary and public officer
• Maintenance of company registers, including office holders and share holders
• Preparation of minutes of meetings of directors and shareholders
• Convening meetings of directors and shareholders
• Preparation and filing of returns required by ASIC
• Assisting with general compliance matters

Superannuation

Since 1 July 2016, advice about superannuation must be provided through an Australian Financial Services Licence.

In order to provide licensed advice to our clients, Bray & Associates Pty Ltd has chosen to be authorised through the SMSF Advisers Network Pty Ltd (SAN) (ABN 64 155 907 681) – the holder of an Australian Financial Services Licence (No 430062).

SAN (www.san.com.au) supports our practice to provide advice to you regarding your superannuation and in particular, your Self-Managed Superannuation Fund.

The SAN Authorised Representatives in our practice are:
      Bray & Associates Pty Ltd - Corporate Authorised Representative 124 5220
      Surajpal Singh Gill- Authorised Representative 125 0211

Under the SAN AFSL, we are able to provide you with strategic advice relating to:

• Establishment of an SMSF;
• Commencement of a pension (Account based and Transition to Retirement);
• Pension strategies (account based and transition to retirement)
• Contributions (Concessional, non-concessional and in-specie);
• Rollover of existing superannuation structures, whether partial or in full;
• Limited Recourse Borrowing Arrangements (LRBA); and
• Winding up an SMSF.

In providing you with any advice regarding superannuation and your Self-Managed Superannuation Fund, we are also required to have you complete a Fact Finder Questionnaire, discuss with you your current situation, needs and goals and provide you with a Statement of Advice as to our recommended course of action. Advice can no longer be provided without first going through this process.

Please download a copy of our Financial Services Guide (FSG) here; Part 1 and Part 2 which outlines information about SAN and our practice; what advice and services we are authorised to provide; how we provide you with advice and make recommendations; remuneration that may be payable in connection with the provision of financial services and our complaints handling procedures.

Please click here for our privacy policy

If you have any questions in relation to your superannuation arrangements, please make an appointment to
speak to Suraj Gill.

The SMSF Advisers Network Pty Ltd is an Australian Financial Services Licensee, licence number 430062, and is a fully owned subsidiary of the NTAA.

The NTAA has been a leading provider of education for accountants for over 20 years, delivering specialist knowledge in taxation issues and Self Managed Superannuation Funds. Our practice is pleased to be a member of this association, and benefits from the education they provide.

Succession & Estate Planning

SUCCESSION PLANNING

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.

ESTATE PLANNING

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 to ensure that: