Accountants for Starting a Business

Starting a business is an exciting leap, but it can also feel overwhelming. Many entrepreneurs face challenges from choosing the right business structure to understanding tax obligations and setting up effective accounting systems.

At Munro’s, our Perth-based business accountants understand that your business is more than just numbers. It’s your dream, your livelihood and a foundation for future growth.

BOOK A FREE MEETING WITH A BUSINESS ACCOUNTANT

Most Popular Accounting Services for New Businesses

Business Setup

 

From $2,000 (excl. GST)

Structuring & Entity Setup Services

Business Plan

 

From $3,000 (excl. GST)

Business Planning Service

Advanced Tax & Asset Protection Strategies Report

 

$4,000 (excl. GST)

Tax Minimisation Strategies Report

Advice from Accountants for Starting a Business in Western Australia

The rest of this page is dedicated to providing you with an overview of the typical problems and associated solutions with regard to starting a business. These apply whether you are starting a business in Perth, elsewhere in WA or across Australia.

People have been coming to us for over 50 years for professional help when starting their business. When you’re ready to talk, book a meeting or send an enquiry.

The Problem

Choosing the appropriate business structure can be confusing. From registering for GST and organising BAS to implementing efficient bookkeeping systems, many new businesses struggle with getting their financial house in order from the start. The sheer volume of compliance requirements can be overwhelming, distracting you from focusing on your core business vision.

Our Solution

At Munro’s, we turn challenges into opportunities by:

  • Providing Tailored Structure Advice: We recommend the optimal setup (company, trust, etc.) to minimise tax and protect your assets.
  • Setting Up Robust Financial Systems: We guide you through GST, BAS and modern bookkeeping to keep your business organised and compliant.
  • Offering Ongoing Advisory Support: Our Perth-based business accountants remain available to you, ensuring proactive cash flow management and strategic planning.

Key Outcomes and Benefits:

  • Lower Tax Liabilities: Benefit from customised tax strategies and small business concessions.
  • Clear Financial Insights: Enjoy real-time reporting and accurate records for better decision-making.
  • Peace of Mind: Focus on growth, knowing our dedicated business accountants have your financial setup covered.

Problem 1: A Worthwhile Venture

Before starting a business, you absolutely must go hard at asking yourself: Is this going to be a worthwhile venture?

Solution
Thoroughly critique the idea/plan.

Outcome
Mitigate the chance of painful failure.

Problem 2: Raising Capital

How are you going to fund the business? What, if any, equity are you going to give away? What additional liabilities and risks are you going to take on? Will you have sufficient cash to survive and thrive?

Solution
Bootstrap, Government grant, Bank loan and/or Angel investment.

Outcome
The dollars you need to get started, survive and then thrive.

Problem 3: Accessing Grants & Special Tax Concessions

Valuable grants and special tax concessions are usually limited based on specific criteria, including the structure of the business.

Solution
Awareness, self-assessment and professional help.

Outcome
Flawless access to R&D Tax Offset, ESIC status, Government grant, etc.

Problem 4: Setup for Future Tax Success

Tax is generally unavoidable, but the amount of tax you pay in the future will be heavily influenced by decisions made now.

Solution
Setup tax planning.

Outcome
Bare minimum tax.

Problem 5: Assets & Liability Protection

Operating a business increases exposures to extra liabilities and requires safeguarding of existing and new wealth as best as possible.

Solution
Basic asset protection + optionally advanced protection.

Outcome
At least the bare minimum wealth protection you should have.

Problem 6: Going into Business with Others

Whether you’re going into business with family or friends, it’s important to recognise that business life and the stresses it brings will give rise to new and sometimes challenging issues.

Solution
Clearly defined and understood intent with a proactive dispute resolution agreement.

Outcome
Mitigate the potential of messy and costly future disputes.

Problem 7: Setup Bookkeeping in Xero, MYOB, Quickbooks, etc

We cannot stress enough how vital it is to setup an accurate accounting system from the beginning.

Solution
Startup bookkeeping.

Outcome
Clean financial information from the beginning as opposed to a costly, uninformative mess.

Problem 8: Employing People

Employment, tax and superannuation laws impose a heavy burden on employers and you must give this responsibility the attention and care it requires.

Solution
Skilful and pragmatic support with implementing employment basics.

Outcome
Legally compliant employment arrangements.

Problem 9: Business Ownership Education

There is no one who knows everything about business. From the moment you start your business, you’ll need to continually upskill to meet the challenges. Don’t start from scratch; tap into the knowledge and learnings of others.

Solution
Sprints, blended learning, community insights and coaching.

Outcome
The best leader you can become, as quickly as you can get there.

Frequently Asked Questions for Starting a Business

  1. How can Munro’s help minimise taxes for new businesses?
    Our Perth business accountants analyse your financial outlook and recommend strategies that legally minimise your tax obligations. This includes focusing on tax minimisation in the short, medium and long term.

  2. How can I manage cash flow effectively when starting a business?
    We can help you set up forecasting tools and implement practical strategies, such as timely invoicing and expense monitoring, to ensure you always have sufficient cash on hand.

  3. What is the price for your startup accounting service?
    Our pricing is transparent and reflects the complexity of your needs. Please see our pricing page and then contact us for a personalised quote.

  4. What do clients say about your business structuring and ongoing services?
    Our approach has received praise from many business owners and you can read about this in our over 100 5-star Google reviews.

  5. Do you help new business owners Australia-wide?
    Yes. Although Munro’s is based in Perth, our business accounting services are available to business owners throughout Australia.

Where To Begin

Get To Know Each Other Meeting

 

FREE (incl. GST)

How We Get Started

Come Along To An Improve Session

 

First Session is FREE (incl. GST)

Upskilling Event for Business Leaders

Munro's, where client service matters

Top 2% ranked Australian Accounting Firm

Play Ranking Explained

  • ★★★★★ — Michael Page

    Accountant Drew was very helpful with a detailed insight to capital gains tax and reset period shall we sell our property. Drew contacted five minutes after I enquired to the office and followed up with this assessment

    The tax tribunal has said that a common-sense assessment applies when considering the varying number of factors and even conflicting circumstances when determining if a house is someone’s main residence. In your case, the Bunbury house may have become your main residence for that short eight week stay if you moved a great deal of personal belonging there. However, a common-sense assessment likely suggests it did not become your main residence (at least on the facts that I know). If it didn’t become your main residence, then the maximum period you can claim the property as your main residence for the period since 2018 is 6 years. I.e. 2018-2014. For the period 2024 onwards, the main residence exemption cannot apply. You could, however, move back in and re-establish it as your main residence and then move out and rent again, which would restart the absentee rule. However, you still would not get the main residence exemption for the period 2024 to the time you moved back in because the maximum 6 years has expired for this current period of absence.

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  • ★★★★★ — Daniel Stefanelli

    Pleasure working with you guys and one of the best decisions to move forward in our family business with Munros. Utmost professionalism right from answering the phone to all of your advice and support.

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  • ★★★★★ — Jeffrey Chen

    Had run into troubles with my personal tax return and immediately appointed Munro’s to act on this matter. Drew and Adam immediately handled my case and was sorted at God speed. Communication was great with all of them and it was easy to provide them with all the requested information.

    Highly recommend them for all your accounting and taxation matter, including complicated cryptocurrency matters.

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  • ★★★★★ — Ivan Lai

    Friendly staff and excellent service. During the past five years, their team have provided very useful advice on tax savings. Their prompt response and well explanation to my questions are well worth Five Stars. Thanks Josephine, Christine and the team. Highly recommended without hesitation.

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  • ★★★★★ — Jeff Hoffard

    From QLD was searching for a accounting firm that could easily handle all my tax dealings including crypto transactions and Carl has been very helpful always just an email away to sort out any concerns I might have.

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  • ★★★★★ — T K

    I highly recommend Drew and the team at Munros for their excellent accounting services, particularly with investment income as well as their crypto expertise. Thanks Drew.

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  • ★★★★★ — Duane Healey

    Great business accountants. Helped with company tax return. Convenient location and nice office in Perth. Special thanks to accountant, Drew Pflaum. Highly recommended.

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  • ★★★★★ — Ben Soules

    Excellent advice with very skilled accountants. Not too expensive, for such a specialized and sophisticated service. Committed to the customer, always very professional and helpful. Highly recommended!

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  • ★★★★★ — Philip Maguire

    Our dealings with Drew Pflaum of Munros were a revelation to my wife and I. Never before had we encountered a business accountant with such dedicated commitment to his clients. Drew’s work ethic is outstanding. When we found Drew online we were in desperate circumstances, faced with the loss of our two properties.

    His empathy, hard work, patience and breadth of knowledge was incomparable and took us from despair to hope very quickly. He worked out strategies that bought us time and helped us immensely.

    Without Drew’s input our future prospects were bleak. We’re delighted to have had the opportunity to review our very positive experience.

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  • ★★★★★ — Stan

    Munros are a quality accounting firm. My accountant Rama is very thorough with his work and attention to detail, I would recommend him to anyone who is involved in cryptocurrencies. Keep up the good work guys 🙂

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  • ★★★★★ — Darth Gus

    I have used Munros now for 3 years, and I find them excellent – can highly recommend them to anyone needing a fantastic Accountant!

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  • ★★★★★ — Julie Snooke

    Mike assisted with our farm succession planning. Thanks to Mike’s in depth knowledge on this subject, this process has been smooth and amicable. We highly recommend Mike and his team for family business succession.

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  • ★★★★★ — Julie Snooke

    Mike assisted with our farm succession planning. Thanks to Mike’s in depth knowledge on this subject, this process has been smooth and amicable. We highly recommend Mike and his team for family business succession.

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  • ★★★★★ — Gary Smallacombe

    I can highly recommend Tony and Michael at Munros – they have done my family affairs for several years now and couldn’t be more happier with the service I receive. The quality and professionalism of the work is second to none.

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  • ★★★★★ — Max Smith

    Congratulations on 50 years of accounting. We transitioned from Wesfarmers to Munros and have been extremely happy with the professional, efficient, courteous and friendly service provided by Barry, Simon, Ted, Christine and Noelene during that time

    Looking forward to continuing the association for many years to come

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  • ★★★★★ — E M

    Rama and the team at Munro’s provided prompt and thorough crypto tax advice. They are very professional and I highly recommend their services.

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  • ★★★★★ — Bushy 996

    I have to give a shout out to Munro’s. They were very professional and quick to respond to my tax and accounting questions. Awesome job guys, Thanks 👍

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  • ★★★★★ — Darryl Chester

    Congratulations on 50 years of accounting.
    Munro`s have managed our family business affairs for approximately 45 years.
    Thankyou.

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  • ★★★★★ — Sarah & Rob Comer

    We worked with Ben and his team from MUNRO’s accountants in Perth during a business purchase and due diligence process, and were absolutely impressed with their service. Their attention to detail and strong, practical advice gave us complete confidence throughout. Highly recommend for any Perth business looking for reliable and professional support.

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  • ★★★★★ — Doug Harwood

    Congratulations Munro’s… on your 50th year celebration.

    It has been a pleasure working with you, since we opened our business 8 years ago. In particular, Ben Paul has been supporting us for the whole journey so far and we can highly recommend his expertise & friendly service.

    Geoff, Doug & Yvonne Harwood

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  • ★★★★★ — Bev Margetts

    Mike has been most helpful and professional with our accounting, superannuation and taxation affairs. We had transferred some years ago from a less than professional person and now very pleased to be with Munro’s. Congratulations on 50 years and best wishes for a long and successful future.

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  • ★★★★★ — Ginny Wu

    Josephine and the Munros team have looked after our accounting affairs for more then 10 years. I am incredibly pleased with the quality of the service they provided. They are professional, trustworthy and patient all the time. Highly recommend Munros.

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  • ★★★★★ — Ray Norton

    OVER THE LAST 25 YEARS I HAVE ALWAYS ENJOYED GREAT SERVICE FROM IAN ARBLASTER, ANNETTE WHYTE AND OF COURSE BEN PAUL. THANKS FOR ALL THE SUPPORT. RAY NORTON

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  • ★★★★★ — Nicole Smith

    My husband and I were looking for some advice on a short time frame with regards to purchasing a piece of farmland. We had an offer in hand and a peculiar clause that we needed advice on. Adam Carter was prompt, detailed and courteous in all dealings with us. He helped us meet our deadline, understand the consequences of each available option and now establish our small farming enterprise. We cannot thank him and the team at Munro’s enough. Highly recommend their services.

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  • ★★★★★ — Nicole Smith

    My husband and I were looking for some advice on a short time frame with regards to purchasing a piece of farmland. We had an offer in hand and a peculiar clause that we needed advice on. Adam Carter was prompt, detailed and courteous in all dealings with us. He helped us meet our deadline, understand the consequences of each available option and now establish our small farming enterprise. We cannot thank him and the team at Munro’s enough. Highly recommend their services.

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  • ★★★★★ — Tim Guest

    Had a longstanding relationship with Munro’s for over a decade. Mike has always gone over and above for me and has my highest recommendation. Thank you.

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  • ★★★★★ — Suthee Saisuwan

    Crypto trading is a new thing and I believe, just like many others I had made lots of mistakes not knowing that trading Crypto is a taxable event. Lucky, there is someone knowledgeable about this matter.

    Great education and support in this challenging time I have received from Drew the man!

    The level of communication is top, accurate and precise. They put their heart into the work to help out their client. Highly recommend if you are seeking a Crypto tax return service.

    Thanks Drew the man and Michael.”

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  • ★★★★★ — Dianne Hall

    Drew was fantastic to talk to. He answered all my questions in an easy to understand way. He helped me gain a greater understanding of how Cryptocurrency is treated by the tax department and what my obligations around record keeping are. I would recommend contacting Drew if you are new to Cryptocurrencies before investing, to get a handle on how things work, what your obligations are and how to keep good records.

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  • ★★★★★ — Matt R

    Drew and the team made my 2019 tax return easy. They also made an alteration to my 2018 tax return and I had an unexpected return. Highly recommended.

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  • ★★★★★ — Jenny Bourke

    We followed Mike Beer when he joined Munros and have been with them ever since. Mike has been a huge help over many years. He is always available to answer even the most basic/ extraordinarily naive questions, and always with a generous and helpful attitude.

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  • ★★★★★ — Bren Croll

    As soon as I saw that Munro’s were recommended by the cryptocurrency tracking app CoinTracking for tax advice, I knew they must be absolute pros.

    Munro’s will be my accountants for life now. Nothing was too much trouble and everything has gone so smoothly.

    Here’s what Carl fixed for me for my latest tax return:

    reconciled complex history from various crypto exchanges, some of which are now defunct, which I had spent several days trying to get various AI models to assist with to no avail

    fixed my balance issue in CoinTracking to accurately reflect my position

    Corrected purchase and sales history for employee shares scheme

    Adjust various mistakes from my previous accountants and carry forward the adjustments

    Scrutinised previous tax returns to adjust missed capital losses from a kitchen renovation completed over a decade ago on an investment property that can now be used to offset future capital gains.

    Provide clear advice on every single thing I asked with no hesitation. It’s so obvious that these guys have seen it all and done it all.

    Because I’m with Munro’s now, I feel SO much more confident about some big financial moves where the nightmarish tax implications would otherwise boggle the mind.

    Thank you so much!

    By the way, I wasn’t asked to do this review or sent one of those “please review us on Google” emails. I am posting this because I’m so happy with the service I was provided, it sells itself and I suppose a perfect 5 star rating with 140+ reviews is a testament to the fact that all of Munro’s customers have a similar experience to me. If you have complex tax affairs I don’t think you’ll find anyone better.

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  • ★★★★★ — Kurt Courtney

    Drew provided great tax advice tailored to our circumstances. His guidance was clear, easy to understand and is expected to save us thousands. Munro’s accountants are fantastic, highly recommend.

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  • ★★★★★ — Graeme Bassett

    We are delighted with the friendly, knowledgeable and efficient service Simon and his team provide.
    We have tested Simon’s patience and humour over the years but he has always managed to come through with a smile.

    Thank you to Simon and his team!

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  • ★★★★★ — Troy Nesbitt

    Congratulations to Munro’s for achieving 50 years of service to WA, with a special thanks to Mike and his team for looking after us through our business, personnel and financial journey.

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  • ★★★★★ — Esteban Aguilar

    Thanks Mike and the team for making it easy to process my personal tax and for answering all my questions and concerns around CGT.

    read more

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