What we do that most accounting firms do not
Every business that works with us receives our comprehensive compliance service, which includes taxation, client accounting, corporate secretarial, and SMSF (if relevant). These foundational elements are non-negotiable, and we treat them with the utmost seriousness.
However, we also engage in a distinct type of conversation with our clients—one that commences long before a return is due. This proactive dialogue aims to influence a business owner’s decisions before they are made, rather than after the financial year has concluded and opportunities have passed.
The following four areas illustrate where this conversation yields a significant impact.
We ask about structure.
Is your current business structure still the most efficient and protective option for your business today? Structure affects tax, asset protection, and how income can be distributed. It is worth reviewing as the business grows, not just when it is first established.
The ATO recognises four main business structures — sole trader, partnership, company, and trust — each with different tax and legal implications. What suited a business at start-up may no longer reflect the risk profile, asset base, or income distribution needs of that same business three or five years later. Structure decisions have long-term consequences, and making them at the right time, rather than reactively, is one of the most valuable things a business owner can do.
We ask about tax positions.
Do you plan your tax position throughout the year, or merely report it at the end? The decisions that most affect your annual tax outcome—such as the timing of income and expenses, superannuation contributions, asset purchases, and entity structuring—are made during the year, not in the weeks preceding lodgement. By then, most significant opportunities have already passed.
The ATO provides clear guidance on what businesses can and cannot do in relation to income and deductions. Proactively working within that framework, rather than simply reviewing it at year-end, is what distinguishes a tax reporting exercise from a genuine tax planning conversation. The difference in outcomes can be significant.
We ask about what the numbers are telling you.
Your financial statements contain a far more useful picture of your business than most owners ever extract from them: margin trends over time; where costs are rising faster than income; whether the cash flow position is sustainable; which revenue streams are most profitable; and whether the working capital position would support the growth decisions being considered.
Most businesses treat their financials as a compliance document – something to hand to the accountant once a year and file away. The businesses that consistently perform better, however, use these same documents as a management tool. This isn’t because their financials are more complex, but rather because someone reviews them and asks the right questions.
We ask about what is coming.
Before a major hire, acquisition, restructure, or expansion, the right financial input changes the outcome. What does the cash flow position look like if growth is slower than expected? What is the downside scenario? What are the tax implications of each approach before the decision is locked in?
These are not difficult questions. They are simply the ones rarely asked before the commitment is made. We work with clients on these decisions at the beginning, when there is still time to shape the outcome, not after the year has ended.
The difference timing makes
Most businesses engage their accountant at the end: the end of the year, the end of a transaction, or the end of a process that has already played out.
The value of an advisory relationship is that it is present at the beginning. Research from the Australian Bureau of Statistics consistently shows that access to professional business advice is one of the distinguishing factors between businesses that grow and those that plateau. The conversation itself is not the differentiator; the timing of it is.
When a business owner talks to their accounting firm before they hire, before they restructure, before they take on a new contract or acquire an asset, the financial implications are understood before the commitment is made. That is when advice changes outcomes. By lodgement time, it is largely too late.
All the services your business needs under one roof.
At Optima Partners, we provide five core service areas across our three Perth offices in Osborne Park, Midland, and Fremantle.
Our Business Advisory team collaborates with business owners to facilitate improved decision-making and enhance financial clarity throughout the year.
Our Taxation Services go beyond lodgement, encompassing proactive planning to legally reduce obligations before opportunities expire. This includes structuring advice, timing of income and expenditure, and superannuation strategies. While the ATO’s small business tax time toolkit offers a useful starting point for understanding potential planning, the most effective strategies are developed in ongoing collaboration with your advisor, rather than being compiled at year-end.
Our Self-Managed Super Fund (SMSF) services address the compliance, investment strategy, and reporting requirements that SMSF trustees are legally obliged to fulfill. ASIC provides a clear overview of the responsibilities associated with operating an SMSF; it is a significant commitment that benefits from an advisor who understands both the regulatory demands and the trustee’s wider financial landscape.
Our Client Accounting Services cover the day-to-day requirements that keep your business running accurately and compliantly, from BAS preparation and payroll to PAYG withholding, superannuation calculations, and accounting system implementation.
The regulatory environment for client accounting has also become more demanding. Under the Tax Agent Services Act, all practitioners providing BAS services must be registered with the Tax Practitioners Board, and significant changes to those obligations have taken effect from 2024 and 2025. Staying on top of these changes is part of what we do, so you can be confident that the people managing your accounts are operating at the level the law requires.
Our Corporate Secretarial Services ensure your company’s compliance obligations to ASIC are properly maintained, from annual reviews and officeholder records to ASIC register updates. ASIC outlines the ongoing obligations for company directors in Australia, and meeting those requirements on time forms part of the service we provide on your behalf.
The businesses that gain the most value from their accounting firm are not necessarily those with the most intricate affairs. Instead, they are those that cultivate a relationship where discussions extend beyond past events and begin early enough to make a tangible difference.
Take our free five-minute Financial Health Check, built specifically for Australian business owners, or get in touch with our team directly.
