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

  • ★★★★★ — Gary Lambe

    The Munros Team have exceeded my wildest expectations, with delivering the most competent, friendly and fruitful service. Thanks to their patience, great lines of communication and willingness to take on difficult challenges- they have turned my headaches into happiness. I’d recommend Munros to any Trader using complex or new systems, and maybe feel like their tax situation is an unholy mess. Munros worked hard to really understand the nascent Kinesis Monetary System, with its nuanced trading complexities. Purely due to painstaking efforts to “nut it all out”. Thanks heaps… Absolute Legends!

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  • ★★★★★ — Moira and Don

    Munro’s have been our accountants, both for business and personal, for 50 years.  During that time we have been really happy with the work done for us.  The personel have always been professional, welcoming and efficient form the person at the front desk who greets you, to the people who handle your work.

    Congratulations and best wishes for the future.

    PS It does help that Simon supports the right footy team but he is not as good at tipping as he is at accounting!

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  • ★★★★★ — J T

    Drew provided clear and detailed advice on my crypto and personal tax matters, making everything easy to understand. Highly recommend!

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  • ★★★★★ — Ryan Hannah

    Great first experience at Monro’s! Took on the service expecting a sizable tax bill and ended up with a rebait, also learned about tax laws. Will defiantly be back next year.

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  • ★★★★★ — Ivan

    They know what they are doing. No matter how complex your accounting is, Munro’s is the way to go. They also have international experience. Drew and Mike’s expertise and responsiveness won’t disappoint you.

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  • ★★★★★ — Stephen Vella

    We first met Mike Beer 25 years ago, when he was assigned to our account by his employer at the time. When Mike moved to Munro’s, we decided to transfer our business to follow him as we were so impressed with both his professionalism and his character.

    We have never regretted our decision to keep our business with Munro’s and Mike, who we think of as a good friend first and a total professional second for the excellent service he and his company have provided.

    Congratulations Munro’s on your anniversary!

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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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  • ★★★★★ — 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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  • ★★★★★ — iORGANiC

    I am very pleased to recommend Cherie and Munros. They are friendly, polite, energetic, honest and reliable. We feel in good hands with our taxation and business commitments. We have been delighted that Munros thoroughly understand our business structure and requirements. We are always treated with respect. We feel a sense of integrity infuses the company which is very important. We feel that Munro are up to date with the regulations and knowledge in their field. We have never been let down or kept waiting for an answer. Cherie and Munros have helped with our business forward planning and I would recommend them to anyone who need someone that listens and provides professional solutions without fuss. Thank you Cherie and Munros!

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  • ★★★★★ — Asif Raza

    Drew was extremely helpful and professional. Highly recommend!!

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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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  • ★★★★★ — Robynne Richards

    Munro’s are an honest, reliable, on the ball, and personable business. The family feel engendered has been highly regarded by our family for over 40 years.

    Congratulations on a significant and well deserved creditable milestone, with best wishes for what we are sure will be a successful future.

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  • ★★★★★ — Robynne Richards

    Munro’s are an honest, reliable, on the ball, and personable business. The family feel engendered has been highly regarded by our family for over 40 years.

    Congratulations on a significant and well deserved creditable milestone, with best wishes for what we are sure will be a successful future.

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  • ★★★★★ — Eric Mastro

    Munro’s were able to take complicated tax matters like cryptocurrency trading income for a new company and turn it in to a simple solution for me. Drew has always been amazingly patient and helpful, answering emails quickly and taking the time to respond thoroughly so the matter could be clearly understood. Highly recommended for any tax accounting needs!!

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  • ★★★★★ — Greg Berlin

    Munros have been doing my family tax returns for the past 3 years, and I’ve been nothing but delighted with the service they’ve offered. They took on a relatively complex set of returns, including sharing of CGT benefits between myself and my partner, and did exactly what I hoped they’d do, and more. Not only that, they always went above and beyond to explain what they have done and why, keeping us happy and at ease at all times during the tax return processes.

    And to top it off, their knowledge of the crypto space is phenomenal, as are the tools they’ve developed to report and get the best possible returns with cryptos in mind.

    Give them a try, I guarantee you won’t be disappointed.

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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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  • ★★★★★ — Mark Howlett

    Got terrific service and advice from Drew. Simple, informative and a quick response time too. Would recommend.

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  • ★★★★★ — Mike

    For nearly ten years, Munros has consistently provided me with excellent service. Drew has been a pioneer in handling crypto tax matters, even before it was a thing. I can’t imagine finding a more approachable and professional outfit. I anticipate a lasting partnership, despite a few questionable football team preferences.

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  • ★★★★★ — Arky Abbott

    Fantastic work. Professional accountants with incredible response times and excellent advice.
    Perfect service

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  • ★★★★★ — Traviss Orr

    Thanks Drew and Michael, great job 👍

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  • ★★★★★ — Allison Beck

    Super grateful to Drew and the team at Munro’s for their quick response and helpfulness! I reached out via their website to see about getting a referral for a comparable crypto tax advisor in the United States, as Munro’s seemed to be the best firm I came across in my research. Drew got back to me within hours and was kind enough to reach out to his network for a reputable contact. He directed me to a great firm and was quick, kind, and communicative throughout. Wish we were based in Australia so we could work with Drew and his team for all our tax advisory needs! Highly recommend.

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  • ★★★★★ — 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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  • ★★★★★ — Glenn Elliott

    Drew and Simon offer an amazing service at Munro’s as professional accountants and I have been using them for over 10 years now. Their customer service is second to none and I always receive prompt and reliable advice. Well done guys, keep up the great work!!

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  • ★★★★★ — Noeline Kellow

    I started working at Munro’s in 1979, spent my life there (besides stopping to have a family) & retired from Munro”s in December 2022. Great place to work & made lifetime friends.

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  • ★★★★★ — Noeline Kellow

    I started working at Munro’s in 1979, spent my life there (besides stopping to have a family) & retired from Munro”s in December 2022. Great place to work & made lifetime friends.

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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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  • ★★★★★ — Shiny Sheep

    5 Stars from Don. I can’t thank Drew and Brian enough for dealing with my very complex history across multiple years of cryptocurrency trading. This has been across many exchanges, wallets, and my Dash Masternode history also. Drew and Brian have been flawless when fielding my various questions across the months it has taken to work through my complex case load.
    Based in Sydney, I got into cryptocurrency in 2013, and it lead me down a trajectory in life I could never have foreseen. Getting this tax aspect of it up to date will take a layer of stress off my back.

    I highly recommend Munro’s, Perth.

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  • ★★★★★ — the big fella

    I used Munro’s for the first time this past year for my tax. My situation was complicated, but this did not phase them. A massive thankyou to the team there including Drew and Christine. Their professionalism was excellent. I cannot flaw their efforts at all. It was a pleasure to deal with them. Thankyou very much Munro’s. See you next year.

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  • ★★★★★ — Nick Tighe

    On behalf of our farming family, congratulations on 50 years. We have been with Munros 3 generations starting I think when My Grandmother switched at the start. My late Father always had good dealings with whoever was assigned to us which there have not been too many over the 50 years which I think may be a reflection of the stability and integrity of Munros. Simon Strawbridge who was the new kid on the block back in my fathers day and the rest of the team has always provided us with great service and we thank the whole team for their support over the years.

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  • ★★★★★ — JD Duv

    I highly recommend Drew Pflaum at Munro’s for any matter relating to property, crypto, business tax, etc. I’ve recently met with Drew and he was very diligent and knowledgeable in explaining the best possible options/solutions I have available for my business. Drew is definitely the go-to person for any complex tax matters.

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  • ★★★★★ — MG

    Drew and the team helped me with my tax returns, especially reporting on cryptocurrency trading done in previous years. I highly recommend seeking their services for all tax/accounting matters, especially cryptocurrency trading. Thanks guys!

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  • ★★★★★ — Suzanne Wyatt

    Thank you to Mike and Munro’s for your expertise, professionalism and patience.

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  • ★★★★★ — Nicole Sedgwick

    Congratulations Munro’s on reaching this significant milestone!

    Our family business has been with Munro’s since its establishment 50 years ago. They have supported our business through 3 generations and we are confident that our relationship will continue to grow for many years to come. They are professional, reliable and understanding and we think of them like an extension of our family. We would highly recommend them to anyone!

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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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  • ★★★★★ — Effie White

    Christine Prasetia is extremely efficient, always on hand with advice and is a pleasure to work with.

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