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

  • ★★★★★ — 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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  • ★★★★★ — 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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  • ★★★★★ — 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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  • ★★★★★ — Joe and Wendy McKinley

    Thank you to all the Staff members of Munro’s who have cared for our business over the last 50 years.
    Always competent and friendly.

    Best wishes for the 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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  • ★★★★★ — Robert Elliott

    Brilliant accounting firm I have trusted for almost 30 years with all of my business and personal accounting. Their service is second to none.

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  • ★★★★★ — Nicholl & Utley families

    We are 3rd generation clients.
    Munros are more than accountants they have a general interest in the wellbeing of our business.
    Munros are forward thinking business organisers and friends
    We wish them well for the next 50 years

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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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  • ★★★★★ — Jery

    I engaged Munro’s on line owing to the fact that they claimed a specialisation in share trading. I am not a professional trader, however I presented Munro’s with a complex set of circumstances ranging over a 5-6 year period. To say I was delighted with their level of expertise and professionalism would be an understatement. I reside in Victoria and Munro’s is in WA, so this matter was dealt with entirely on line. The accounting professional that looked after my matter was one of the most helpful service providers I have recently encountered, going as far as assisting with my rather rudimentary IT skill. This firm, through the diligent work of the previously mentioned accounting professionals turned what I thought, was a dire Tax situation into a win for me. I cannot rate this firm highly enough, two other firms wanted me to jump through all sorts of hoops, Munro’s did a magnificent job, with little fuss and all on line. I publicly extend my sincere thanks and gratitude to the person that looked after my matter.

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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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  • ★★★★★ — 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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  • ★★★★★ — Carlos Braun

    Have been using Munro’s for many years now and always happy with the thorough and speedy work they do. Highly recommended.

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  • ★★★★★ — Carlos Braun

    Have been using Munro’s for many years now and always happy with the thorough and speedy work they do. Highly recommended.

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  • ★★★★★ — Markus Mark

    Munro’s are an outstanding outfit mastering in complicated tax situations and are highly focussed on providing a client centred approach. I presented Saul with a complicated case of overdue tax’s and substantial crypto and share trading activity. To say that he handled this situation with aplomb is an understatement. He resolved my situation promptly and what seemed to be with ease. Sure it is great to have your taxes done by consummate professionals but for me this is not their best feature. It is the customer service that I received that was outstanding and exceeded my expectations. He was extremely patient and dealt with my constant questioning with a great attitude. Always polite and willing to offer his professional advice I sincerely felt like a had an ally in my corner. Saul was a pleasure to work with and I look forward to next years Tax Time.

    Mark.

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  • ★★★★★ — Cynthia Johnston

    This is such a great team! I was behind in my crypto accounting and I received clear instructions and assistance to bring all of my accounting up to date this year. I recommend Munro’s to everyone, especially people using crypto currency. This team are experts in this field!

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  • ★★★★★ — Luke Bpob

    I’m a recent sign up who brought with me a backlog of work. Drew and team delivered on their promises and then some. Personalized service, responsive, thorough, up to date. Highly recommended.

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  • ★★★★★ — Suzanne Wyatt

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

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  • ★★★★★ — Roger York

    Thanks Drew and Munros for helping me with my taxes.

    Highly recommended

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  • ★★★★★ — The Ramsay Family

    Wonderful support and response from the team at Munros. We have been with them for many years covering both business and personal matters. It is a credit to both past and present staff.

    Thank you

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  • ★★★★★ — Fay & Steve

    Our Munro’s Experience began approximately 38/40 years ago. Steve’s parents were already customers of Munros, in particular Barry Virgo, and we followed suit.

    For the first couple of years we had several changes of Accountants at Munro’s (we always got the newbies and had to ‘train them up’ to know how to get the best deal from the Tax Office for farmers. We became fed up of this system. Our last newbie was Simon Strawbridge. Well, we got him “trained up right proper” then they wanted to give us the next new one, but we stated we weren’t changing.

    Today, Simon is still our go to man. Whilst we understand there have been many very efficient people working in the background on our business affairs, for which we thank them sincerely, we have always maintained our professional relationship with Simon.

    We have been through some big business changes in our farming adventures over these past 40 odd years, and the advice, help and professional assistance has been 100%. At times we didn’t know who to trust to give us the best business advice and we were fortunate to be able to lean on Simon’s vast knowledge to help us make these decisions.

    Our working partnership of having our taxation needs, investment portfolios, wills, etc. linked in with Munros and the great staff has been successful.

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  • ★★★★★ — Jeremy Glasgow

    Very knowledgeable experts on complicated crypto tax matters. I would highly recommend every trader/investor to bite the bullet and seek professional advice from Munro’s.

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  • ★★★★★ — Tim

    I have been a client of Munro’s for 2 years and am very happy with their service. They have saved me a lot of time, effort, and money.

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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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  • ★★★★★ — 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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  • ★★★★★ — 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.

    read more
  • ★★★★★ — 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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  • ★★★★★ — Faye Sanderson

    Munro’s have helped build our business from strength to strength for over 40 years! No problem or question has ever been too large or too small and all have been dealt with in a timely and efficient manner. Thanks to Simon, Carl and the team for your continual excellent service.

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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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  • ★★★★★ — 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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  • ★★★★★ — 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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  • ★★★★★ — FK aus

    Munro’s provided me with the exact accounting and tax advice I needed. I highly recommend Munro’s to anyone who is searching for a professional accounting firm that goes the extra mile to help their clients.

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  • ★★★★★ — Brad Johnson

    Thanks Drew, your guidance into my situation was very helpful. I’m sure your knowledge and expertise will be required in the future for ongoing decisions. Highly recommended!!

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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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  • ★★★★★ — Asif Raza

    Drew was extremely helpful and professional. Highly recommend!!

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  • ★★★★★ — RW

    After “investing” in cryptocurrencies for the past few years I thought my tax return was going to be a nightmare. Cherie and the team at Munro’s have done a fantastic job at making my last two tax returns as easy as possible for me and I will be continuing to use their services in the future.

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