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Frequently Asked Questions
Business Advisory, Accounting & Tax Services
What services do you offer?
Some of our key services include the following (but not limited to):
- Business advisory and coaching.
- Financial Statements & Tax returns for a wide range of entities (e.g. partnerships, companies, trusts, co-operatives, superfunds / SMSF).
- Proactive tax planning.
- Structuring for optimum tax minimisation and asset protection.
- Tax advice.
- Succession planning.
- Budgeting and cash flow forecasting.
- Corporate secretarial services.
- Virtual Chief Financial Officer (CFO).
- Estate planning and administration.
- Bookkeeping.
If there is something related to business that you require, but isn’t listed above, please feel free to reach out as we usually can help – either by providing you with solutions you require from within our firm, or by referring you to a trusted partner within our network.
Do you do prepare financial statements and tax returns?
Yes, we do prepare financial statements and tax returns for a wide range of business & investment entities (e.g. partnerships, companies, trusts, co-operatives, superfunds / SMSF).
We do also prepare individual tax returns, but these returns are usually part of larger groups that have businesses and/or have an SMSF, or otherwise for individuals that have more complex tax affairs (i.e. those other than just individual salary and wage earners and/or those with only one or two rental properties/investments)
Can Munro’s help me with my business, accounting and tax affairs?
Munro’s is a well-established accounting and business advisory firm that has been operating since 1973.
If you are an established business owner who is looking for something more from your current accountant, then Munro’s could certainly assist you.
If you are a start-up business owner who is looking to structure your tax affairs correctly & grow your business, then Munro’s will also be able to assist.
If you consider yourself to be a high-income earning individual, and:
- You have made a number of investments, and
- You are looking to grow your wealth…
then feel free to reach out to us, as we might have solutions for you to legally reduce your tax and protect your assets.
Pricing
Can you provide a quote?
Yes, absolutely.
In order for us to provide a quote we need to have a clear understanding of your circumstances and requirements. We call this scoping the services you require. To get to that point, we either need you to please send us the information and/or have a meeting. If you’re unsure what to do next, then submit an enquiry and we’ll get back to you within 1 – 2 business day.
How much do you cost?
Munro’s seeks to fairly price services and ensure you receive value for services provided.
In determining fee guidance, we take into consideration such items as the complexity of your personal, investment and/or business affairs, the completeness/accuracy/compilation of your data/information, together with the response time to any queries we may have, and the advice and assistance sort by you.
Our pricing (exclusive of GST) generally begins at $3,300 per annum for modest affairs, with intermediate affairs around $6,600 and complex affairs $12,000+.
Do you charge per phone call/query?
If it’s a simple yes/no or quick question (say less than a couple of minutes) for us to answer, then no. If we need to reply in-detail and/or conduct an analysis or research, then we will invoice this professional work in accordance with our engagement terms.
Get to Know Each Other Meeting
What differentiates Munro’s from other accounting firms?
The difference is our true business advisory approach.
We are privileged to have helped many businesses grow over many decades, and have assisted in the transition of businesses from one generation to the next.
We truly believe in building strong client relationships – this is because we understand that forging strong relationships is the key to producing successful outcomes for our clients.
We practice what we preach, and we understand what truly works when it comes to running a successful business.
We also understand that our employees are our biggest assets. We provide top-of-the-line training and have a generous remuneration policy, as well as foster a strong culture embedded on work-life balance, in order to ensure that our employees are happy with their work.
Happy, fulfilled employees are then best placed to provide YOU with the exceptional service that you deserve.
I am not currently a Munro’s client and this all sounds very good. However, I am still a little unsure if I should engage Munro’s. What should I do first?
If you want to have a chat with one of our specialist advisors, please feel free to reach out to us and provide us with a brief outline of your background and what you hope to achieve.
If we believe that we are a “good fit” for you, we will be happy to schedule a FREE, no-strings-attached Get To Know Each Other meeting so you can learn more about us (and vice-versa), and be confident that Munro’s is well-equipped to handle your accounting and business advisory requirements.
You can engage us for business coaching and advisory work while still retaining your existing accountant for your tax compliance requirements. We are proud to let you know that we have clients who initially engaged us for this trial and were extremely satisfied with our advisory service, such that they decided to make the complete switch to Munro’s for their accounting requirements.
If I want to engage Munro’s, what should I do first?
That’s great to hear that you are keen to engage Munro’s to assist you with your tax and business affairs.
If you want to have a chat with one of our specialist advisors, please feel free to reach out to us and provide us with a brief outline of your background and what you hope to achieve.
If we believe that we are a “good fit” for you, we will be happy to schedule a FREE, no-strings-attached Get To Know Each Other meeting so you can learn more about us (and vice-versa), and be confident that Munro’s is well-equipped to handle your accounting and business advisory requirements.
Please be advised, however, that we may not be able to provide specialist advice in this initial catch-up. If you require tailored, specialist advice on complex matters, then you can engage us for a paid consultation. We will let you know if a paid consultation is required to address your queries.
Paid Tax Consultations
Do I need a paid tax consultation?
If you need tailored tax advice – have questions or are uncertain about what is best for you – then a paid consultation is perfect for you.
If you’re a business owner/leader looking to engage us for business advisory and accounting services, then please book a Get To Know Each Other meeting instead.
What’s the difference between a paid tax consultation and Get To Know Each Other meeting?
A paid tax consultation is a meeting to address specific tax issues (e.g. Income Tax and Capital Gains Tax issues). Its purpose is to address those tax issues during the meeting – for us to give you tax advice.
This is different to the Get To Know Each Other meeting, which is primarily aimed at those who have/will have business entities (e.g. partnerships, companies, trusts, co-operatives, superfunds / SMSF), and is designed for both of us to get to know the other, broadly discussing the problems you face and the solutions we may be able to provide in terms of providing accounting/tax and other services.
We don’t generally provide tailored tax advice during the Get To Know Each Other meeting. Rather, the result of the Get To Know Each Other meeting may be a joint agreement for Munro’s to prepare an engagement proposal, which should be the beginning of a long and prosperous advisory relationship for you and your business. Refer to How We Get Started for more information.
What do I get from a paid tax consultation?
Consultations allow you to meet with a specialist advisor from Munro’s to discuss and address your situation, questions, concerns and options. Your Munro’s advisor will use their many years of experience and expertise to provide you with readily available answers and advice. A post-consultation email is also sent to you, which briefly outlines the advice given. Additionally, if you want us to, we can record the consultation and provide you with a copy.
Whilst we of course do our very best to provide the necessary advice during the initial consultation, we are not always able to address everything in one consultation. Where your situation/plans include complex matters which cannot be fully addressed during the initial consultation, we can provide further advice and assistance as required as part of a secondary consultation and/or project. This additional work will be separately priced based on your unique circumstances following the first consultation, and agreed with you before proceeding further. There is no obligation to proceed should you not wish to receive the additional advice and assistance.
If I have paid for a tax consultation, will I need further advice?
This depends on your circumstances. Until such time that we explore what it is you are doing and plan to do, we cannot say whether or not one consultation will be sufficient to address everything. We make our expertise available to you by way of a consultation, capped at the agreed price, so as to best address what you need and allow us to let you know what further advice and assistance (if any) is needed. Our clients continue to be very pleased with our professional services and we are confident we can help you too.
If you remain unsure if a consultation is right for you, then please submit an enquiry. Include your name, phone number, background information/circumstances and queries. We will respond within 1-2 business days, suggesting whether or not a consultation is necessary or what your other options are.
Do you offer free initial tax consultations?
No, tax consultations, where we provide tailored tax advice are not free.
Only the Get To Know Each Other meeting is free. See above – What’s the difference between a paid tax consultation and Get To Know Each Other meeting? – then consider what is best for you.
Why do you charge for consultations?
We charge a fair price for consultations because you have asked us to provide you with advice and there are costs associated with providing that advice.
How do I pay?
Payment for consultations are accepted using Stripe or direct bank deposit.
Stripe
When booking online, your payments are securely processed by Stripe. We accept payment using Mastercard, VISA and AMEX.
After you select your consultation date and time, you will be asked to answer a few questions and then pay using Stripe.
To complete payment, you need to include the Name as it appears on your debit/credit card, your card number and expiry date.
Direct Bank Deposit
If you would prefer to pay using direct bank deposit, then please call our reception at (08) 9427 5200.
Financial Statements & Tax Returns
What do I do if all I need is financial statements and tax returns done?
If all you need is financial statements and tax return prepared and lodged (i.e. you don’t require any advice), then rather than book a paid tax consultation you can request a quote from us.
Since everyone’s circumstances are unique to them, in order to provide a quote we firstly need to review your situation and relevant activity/transactions.
To allow us to do this, please email Enquiries@munros.com.au the following information:
- Tell us your name and phone number.
- Explain what you want.
- Explain your situation/activity/transactions.
- Where applicable, provide the following:
- A copy of your most recently lodged income tax return and financial statements.
- Access to your bookkeeping software or spreadsheets containing all transactions. Essentially the records associated with all your income and expenses.
- Refer to these instructions, if applicable:
- Anything else that we need and should know about your tax affairs.
Alternative to email, you can upload to our secure client portal facility. If you would like to use the client account facility, then please let us know and we will arrange for a team member to setup your access to our portal.
Tell us about your problem and we’ll respond within 1 business day.
- Call Us 1800 818 924
- Email Us enquiries@munros.com.au
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Visit Us
308 Fitzgerald Street
Perth WA 6000