In a constantly changing business environment, modern managers need all the expertise and advice they can get, and the best way to bring this extra experience into the business is to engage external business accountant services. Advice on capital gains and fringe benefits tax, assistance with capital raising and preparation for a tax audit are just some of the services they can offer. http://www.msitaylor.com.au

1. External Business Accountant Services –
Cost or Investment?
The modern business environment is constantly changing, more so than at any other time in business
history. It is not only technological advances driving this change, but it is also being influenced by the
changing habits of consumers, the economic debacle that is still on-going in Europe, and the strength of
the Australian dollar. Our trading partners are being shuffled around, with China and India nudging out
Japan as our most important markets. Is it any wonder that managers of all types of businesses are
struggling to make forward projections that will look anything like their actual six months from now.
Never has it been so urgent to engage business accountant services for some outside help.
A talented and experienced business accountant can provide another perspective that will assist the
client to look more critically at their financial performance to date, and recommend measures to
improve the bottom line. Tax is another area that is subject to rapid change, and while the business may
have their own in-house accountant to co-ordinate and manage daily transactions and prepare financial
reports, an up-to-date knowledge of all tax Brisbane legislation is usually not their role.
With tax compliance obligations increasing rather than decreasing, it is important for a business to have
this under control. Professional business accountant services keep on top of tax changes and can
identify areas within the business that need attention. They are able to advise on capital gains tax and
fringe benefits tax, both areas of taxation that could attract unnecessary penalties if not managed
correctly.
In the event of a tax audit, many businesses that have not been through that experience can flounder
and waste time in preparation that is ineffective or unnecessary. In these circumstances, calling in the
assistance of business accountant services can save time and money. Their experience in preparing for
tax audits is invaluable to the business managers, as they are able to pinpoint areas that need checking
up on and provide advice on the operational aspects of the audit e.g. what documents and information
are most likely to be required and the best way to work with the auditors to satisfy all requirements.
Many businesses can be successful and profitable, but still get to a point where they need to raise
additional capital to purchase new equipment or invest in new technology. Even with a CPA Brisbane
working within the organization, it is always a good strategic move to bring in outside expertise to work
alongside the staff in this specialized area. Their technical expertise and commercial experience
complements the in-depth knowledge of the management team, and by working together, the company
will have all bases covered in the difficult capital raising environment.
Engaging professional business accountant services is an additional cost to a business but it will be

2. money well spent, and could be the difference between a robust and growing business, and one that is
being strangled by lack of funds and uncontrolled costs.
http://www.msitaylor.com.au/