Services

Allow knp Solutions to assist you with your individual taxation requirements in the following areas:

Tax Compliance Services
Tax Audit Management
Tax Effective Investments
Tax Reform Issues and Consolidations
Taxes Effecting Trusts
Tax Effective Operating Structures
Advice For Overseas Residents and Expatriates
International Tax Issues
Tax Effects For Individuals With Regard To Superannuation
Capital Gains Tax
Due Diligence Reviews
Estate Planning
Private Company Loan Advice

knp Solutions have extended their role as "accountant" to "business partner" for many of their clients.

Please contact us if you require assistance in the following areas:

Preparation of an optimum Business Structure
Corporate Restructuring
Advice on International Tax
Advice on International transactions including related parties or transfer pricing issues
Mergers and Acquisitions - Buying, Selling and Restructuring Businesses
Advice on Capital Gains Tax
Employee Remuneration and Share Plan Packages
Research and Development Grants
Export Market Development Grants
Business Succession Planning
Pay-roll Taxes
State Taxes and Duties Applied to Businesses

As the Australian Taxation Office (ATO) gears up its audit programme, the number of businesses that will be targeted in the future for audits will increase.

knp Solutions has a dedicated team that can assist you with the preparation for any such event. We offer technical support and constructive advice that guide your business through an ATO audit, or prepare you in the event of one.

Please contact our office if you are interested in benefiting from our knowledge and effective strategies.

Goods and Services Tax (GST) is an important part of the effective running of any business. If a business gets it wrong it can be a costly mistake.

Allow knp Solutions to guide your business through this complicated tax law. We are able to provide advice on all matters associated with GST and ensure that your business will be compliant with its GST responsibilities.

In addition to ensuring your GST status is correct, we can also review your present accounting system is adequate and that GST is being recorded correctly.

The regulations surrounding our Capital Gains Tax laws have under gone many changes, thus it is crucial that you receive that right advice.

knp Solutions keeps themselves updated on the latest rulings, legislations and announcements concerning this tax, along with any other issues surrounding taxation. We will give you informed advice that will suit your individual requirements.

We can advise you on the effects of CGT on the following:

Purchase or Disposal of Property

Buying or Selling a Business or Shares in a Business

Establishing a Business Structure

Fringe Benefit Tax applies to any employer that provides any non-cash benefits to their employees and associates.

The services we offer in relation to FBT include:

Preparation or Reviewing of your Fringe Benefit Tax Return

Ensuring your Business is compliant with its Fringe Benefit Tax obligations

Advising on the best way you can Structure your Employee Benefits

There are many taxes and duties that are applied by the State of Victoria that can impact you business affairs or personal investments.

knp Solutions can provide you with advice to guide you through these taxes and duties before entering into any transactions.

These taxes include:

Land Tax

Pay-roll Tax

Stamp Duty

Statutory Company Audits

Solicitors Trust Account Audits

Real Estate Trust Account Audits

Self-Managed Superannuation Fund Audits

System Review Audits

knp has extensive experience on both sides of the fence when it comes to conducting due diligence reports.

By engaging knp Investigative Accounting to conduct your due diligence report, you can be assured of full disclosure of all pertinent information that will assist you in making an informed decision.

Services we provide are:

Due Diligence Reports for Investments or Acquisitions - this will aim at giving you a realistic expectation by highlighting the benefits and pitfalls of your proposed acquisition or investment

Due Diligence Reports for the Disposal of your Business - this will aim to prepare you for the most vigorous of reports that may by presented by a potential buyer and helping to maximise your after tax profits

knp Investigative Accounting is expertly equipped to handle most areas of Forensic Accounting.

Whether you need assistance with the financial aspects of litigation, insurance claims and mediation, knp can cater for your requirements.

As well as their accomplished staff who can combine their knowledge of all areas of accounting, including taxation, audit and insurance, we have a well establish network of experts at hand to substantiate your case.

Some of the areas our forensic accounting team can assist you with, are:

Commercial Litigation

Claims on Economic Loss

Claims for Business Interruption and Consequential Loss

Professional indemnity Claims

Business Valuations

Family Law Property Disputes

Fraud and Criminal Cases

knp Investigative Accounting are confident providers of litigation support as it is backed by a team of solicitors and barristers that have worked closely with knp over many years.

Our litigation support division makes good use of these reliable business contacts and expert witnesses to the benefit of its clients. Thus ensuring our clients are always fully prepared for conflicts or legal disputes. 

An Internal System Review of your business is of benefit to your business as it will highlight both the financial performance of and the operating systems used by your organisation.

Reviews conducted by knp Investigative Accounting will use this analysis to make recommendations that will aim at improving the profitability of and internal controls within your business.

Some of the key aspects of an Internal System Review are:

To make recommendations on profitability

To assist you with the implementation of effective internal control systems

To provide you with advice on the effective and efficient way to run your business

Our specialised team has a proven track record in providing Superannuation advice to individuals as well as law firms, accounting firms, financial planners and banks.

We Specialise in advising on strategise for all individuals. 

We can advise and assist you in matters such as:

• Establishing a self-managed superannuation fund
• Determining the optimum level of annual contributions to suit your needs
• Projecting future retirement benefits
  
• Advising on proposed strategies or actions and whether they are permitted under Superannuation and Taxation law
• Advising on income strategies for your retirement
• Preparation of required documents for pensions and related matters
• Advice to rectify breaches of the superannuation law through improper actions, thus minimising the penalties that may be applied
• Advice regarding linking Superannuation and Estate Planning issues
• Preparing superannuation valuations, for example in cases of marriage breakdown
• General specialist superannuation advice
  

Preparation of Financial Accounts

• Check and confirm all revenue entitlements are received
  
• Check and record all asset purchases and disposals
• Check and confirm all tax obligations agree with the Australian Taxation Office records
• Confirm compliance with superannuation legislation as appropriate
• Summarise any remedial actions that the trustees may need to undertake
  

Arranging for Audit of Superannuation Fund

• Ensuring your self-managed superannuation fund is compliant with any legislative requirements
• Preparation of your Fund's income tax and associated returns
• Preparation of files accounts and other documents that will pass audit scrutiny

Pension Review

• Provide details of the level of pension to be drawn in the ensuing period
  
• Arrange Actuarial Certificates, where required

Fund Review

• Inform Trustees on issues that may affect the fund at the beginning and end of each financial year
  

Our audits of self-managed superannuation funds will ensure that your fund maintains its favourable tax rate.

Our team is ready to assist in maximising the benefits available in the superannuation regime.

Historically family owned businesses encounter many difficulties both on the emotional and business front, making it harder for them to succeed and grow into a successful financial enterprise.

These businesses are open to many ownership and management issues. Without the proper guidance many family business owners fail to recognise and understand these issues and thus do not respond appropriately.

The accountants at knp Solutions foster a unique business relationship with their clients, and in doing so act as advisers and business partners.

Our experience in the following fields can assist your family business in achieving success and financial growth, thus guaranteeing its survival.

Advising on Changes and Transition

Tailoring Financial Needs

Allocating Responsibility and Roles of Family Members

Sharing Wealth

Resolving Family Conflict

All business can go through periods of transition and instability. And it is during these anxious times that many businesses are forced to make fundamental choices that will affect change and possibly reshape its future.

knp Solutions can help minimise this anxiety by helping a business prepare itself by establishing a Succession Plan.

Succession Planning forces the business owners to think of in terms "what if" and then implement contingency plans to ensure for a smooth transition.

These are some questions any business operator should look to solved before they arise:

What is the exit strategy of the current business operator?

What are the Consequences in the event of the involuntary departure of the current business operator?  

How do we unlock the equity tied-up in our business?

Will I have enough to retire on?

Can I protect my assets?

Do I need a will?

The experienced accountant specialists at knp Solutions are adept at ensuring that all relevant account information is captured for the preparation of your income tax returns and financial statements. We can assist you in a timely and accurate manner thus freeing you so that you can concentrate on the demands of running your business.

We would be happy to assist you in the following areas:

Capturing, recording and reporting all transaction

Preparing timely and accurate reports that will assist in decision making

Maintaining records as required by financiers and statutory authorities

Ensuring your books of accounts are in order thus increasing cash flow and saving you money

Our Corporate Affairs Division attends to the statutory requirements of our clients' companies. Using specialised software, the preparation and lodgement of Australian Securities & Investments Commission (ASIC) forms and other notifiable changes are achieved in a timely and efficient manner.

The services we offer with regard to company management are:

The review of ASIC annual company statements

Arranging for the registration and formation of new companies

Appointment and resignation of company officers

Changes to shareholders

Changes to company details such as registered and business addresses

Updating company constitutions to allow for single director status

Organising business name applications and changes

Organising company liquidations and deregistrations

Adding value to our existing services, knp Solutions have an extensive network of contacts within the legal profession thus enabling us to further assist our clients in relation to:

Establishing discretionary and unit trusts

Amending trust deeds, with the changes to trustees or other such details

Organising superannuation fund deeds

Frequently business managers complain that they have the right product but members of their staff do not understand the business or know how to work efficiently.

In many, but not all cases, this is due to both management and employee’s lack of understanding of the "people issues" involved in the  effective and efficient running of a business.

We can assist in this area by utilising today's best HR practices to assist businesses obtain the best from their people. After all, human capital is recognised by businesses as one of their greatest assets.

Some of the tools we use include:

The Myers Briggs Type Indicator ® report

This helps employees gain a better understanding of themselves and their workmates

Team Building Activities

These activities are designed to bring the staff together and demonstrate the advantages of working together

Assistance in the Preparation of Staff Manuals

Manuals that will help employees in their daily decision making, either on behalf of the firm or for themselves.

Our experienced staff can give clients valuable assistance in planning for their future. The most popular and effective way is the planning retreat, an interesting and educational event that will assist organisations to achieving their future goals.

As facilitators of these events we will assist your business in its growth and development.