Accountants | Business Advisors | Tax Specialists

Want to grow your business?

What we do
hammoud-partners

Do you want to grow your business?

Hammoud Partners is a premium provider of accounting, taxation and business advisory services.

We value our clients

Established in 2000 and located in the Sydney CBD, our practice offers a comprehensive range of tax, accounting and advisory services. We cater to the business needs of an extensive and diverse client base and approach our work with a positive can-do attitude.

We value our relationship with our clients. Our team is dedicated to providing a service that ultimately boosts the performance of your business and assists with those difficult to make decisions. This is all part of our unwavering focus on achieving the best possible outcomes for you and your business.

Our team is your team

We view our relationship as that of one team. Business can be challenging. Whether it’s navigating the complexities of compliance or coping with volatile trading conditions.  Our dedicated and passionate accountants like to be viewed as an extension of your team. We believe this attitude of standing side by side delivers the best results for your business.

Our goal is to help your business grow

Hammoud Partners has built a strong reputation helping businesses grow. We also understand that expansion in itself is not a definite indicator of improved performance. Growth needs to be managed carefully. Risk needs to be identified and controlled to ensure a business extracts maximum benefits. We provide you with the tools and knowledge to maximise returns while minimising risk.

Benefit from our knowledge

Noted for innovation and a forward thinking approach to business we set high professional standards in everything we do. Our goal is to respond to our client’s needs quickly and effectively. Our accountants and advisors have backgrounds in accounting, taxation law, economics and finance coupled with extensive industry experience. We also ensure we are up to date and at the forefront of all industry and regulatory developments.

Our goal is to see you concentrate on doing what you do best – running your business.

Profit from our experience

Benefit from an expert team of accountants that has invaluable experience in the areas of tax law and compliance. We all learn a lot from our experiences. This builds knowledge and understanding. In short it prepares you for future experiences. Take advantage of our know-how and reach your potential.

We understand our clients

Our key strength is our focus on achieving significant benefits for our clients. As business conditions and regulatory environments change so do the needs of our clients. We take the time to understand our clients businesses and tailor our services to fulfil their needs.

our-goal

We focus on achieving the best possible outcomes for our clients. Our goal is to see you concentrate on doing what you do best – running your business.

about

Our Services

We cater to the premium accounting, taxation and business advisory needs of businesses both large and small and from a broad and diverse range of industries.

Compliance & Reporting

Taxation

Australia has a very complicated tax system. Compliance and reporting requirements are very difficult to understand let alone implement. We appreciate that you want to focus on the operation and ongoing prosperity of your business. That’s why we make it our business to take the complexity out of taxation and help your business remain compliant.

The field of taxation is very dynamic as governments struggle with increased spending obligations and revenue shortfalls. Hammoud Partners remains at the forefront when it comes to changes in taxation and regulatory requirements and the correct application of such changes.

The taxation implications of various business structures differ. For example companies are currently taxed at 30%. Individuals are subject to marginal tax rate increases as their income increases. The tax consequences of income distributed from a discretionary trust will depend on the ultimate recipient of the income and the type of income – trading income, capital gains, dividends etc.

When fixed unit trusts are utilised as a trading structure, income flows through directly to unit holders who may be individuals, trusts or companies. Income tax is ordinarily dealt with by the respective unit holders, not the unit trust. The trustee of the fixed unit trust may still be liable for state based taxes and duties such as land tax, payroll tax and stamp duty.

Too often businesses are unfairly hit with an increased tax burden due to incorrect application of tax laws. Our talented team of tax accountants are experts in the field of tax return and financial statement preparation, monthly and quarterly taxation compliance and certain state based taxes. We work hard to ensure the taxation impact on your business is minimised.

GST Compliance

The GST is a broadly based tax charged on the supply of most goods and services. GST compliance and reporting may be required monthly, quarterly, or annually depending on the specifics of your entity.

Certain items are exempt from GST while businesses with turnover of less than $75,000 (unless you provide a taxi or limousine service) do not have to register for GST. Non-profit organisations with turnover of less than $150,000 also do not have to register.

The GST system is not based on a one size fits all policy. If you are buying or selling a business or property it is important to consider any GST ramifications. This will depend on whether the going concern principles apply. The construction industry has unique GST implications as do fruit and vegetable suppliers along with pharmacies, cafes and restaurants amongst others.

Our team of tax specialists will ensure your GST compliance requirements are dealt with in a timely manner. We will also deal with the ATO on your behalf whenever events affect your ability to lodge on time or you need to enter in to a payment arrangement.

Financial Statement Preparation and Analysis

Financial statements are a detailed representation of your business’s performance. They also form the foundation for the calculation of your taxation obligations. Financial institutions generally make lending decisions based on your financial statements.

Our team of experienced accountants will prepare your financial statements in accordance with Australian accounting standards as required. We pride ourselves on attention to detail and accuracy. After all, the financial statements are a reflection of your business.

Whilst the accurate and timely preparation of financial statements is important, how this information and data is then used is of more significance. Our team will provide detailed analysis of your financials allowing us to identify strengths or areas of concern. This enables us to provide invaluable advice and guidance in order to improve performance.

Audits and Reviews

The ATO has a sophisticated data analysis, benchmarking and data matching system that will often trigger a review. If, after a review any of the identified concerns are dealt with and the ATO is satisfied, the investigation will end there. However, if a review uncovers further concerns or if the ATO is left unsatisfied, an audit may be launched.

The OSR has been particularly busy with audits, especially in the area of payroll tax. The OSR has been very successful with the application of grouping provisions. This occurs when multiple businesses are grouped together for payroll tax purposes resulting in a single threshold deduction and mutual liability for any payroll tax debts.

An audit can be a costly and distressing experience. The outcome can also have ramifications for your business. It is therefore crucial to have appropriate representation with extensive experience, comprehensive tax law knowledge and a thorough understanding of ATO processes.

Our team of tax law experts has in depth experience dealing with audits and reviews. Rest assured we will work hard to ensure you receive a fair and just outcome.

Tax Law

Tax law forms the basis of our taxation system. There are constant calls for tax reform as governments face the challenges of budget deficits brought about by revenue shortfalls and mounting expenditure.  Increased globalisation brings its own challenges as multinational organisations seek to circumvent local tax laws in order to minimise taxes.

Companies are increasingly seeking to eliminate tax risk. Our tax law specialists are at the forefront of the industry. We advise businesses and professionals on both simple and complicated tax law matters. This applies to the entire tax cycle from planning and compliance through to assessment.

Benchmarking

The ATO is very interested in how your business performs relative to other businesses in your industry. This involves the use of key financial ratios to compare businesses in the same industry. The ATO uses this data to identify entities it believes may not be accurately reporting their income.

Benchmarking is a useful tool as it allows you to measure your performance and identify factors that need improving. Speak to a member of our team and gain access to data that may just be what is required to propel your business to that next level.

ATO Objections and Dispute Resolution

A dispute with the ATO does not need to result in costly and uncertain litigation. Our tax accountants deal with the ATO on a regular basis and have established a comprehensive understanding of the objection and dispute resolution process.

An audit can often result in adverse findings and the issuing of substantial tax assessments, penalties and interest. Our team can prepare and lodge an objection and deal with the ATO through the entire process on your behalf. A successful objection can result in a reversal of an adverse assessment or a reduction in tax, penalties and interest.

Accounting and Reporting System Setup

When it comes to reporting and analysis accurate data is crucial. That’s why an appropriate accounting and reporting system is so vital. The most suitable system will depend on industry, size, scope and the inner workings of your business. Many businesses require sophisticated systems and an in-house accounting team while other may rely on external bookkeepers.

An effective reporting system is an integral part of your overall financial management processes. Amongst other things it enables you and your advisors to track trading, calculate profitability, plan ahead, conduct analysis and adequately prepare for compliance obligations. Our team has vast experience in the setup of accounting and reporting systems and can assist with training and implementation.

Business Advisory Services

Business Consulting

We help you get the best out of your business and achieve your goals. Our consulting team has assisted clients in maximising growth, reducing costs and navigating regulation.

Our clients benefit from industry analysis that allows them to better understand their competition and make more informed decisions. Services include detailed financial analysis, risk control, business performance, benchmarking and strategy.

Business Planning

A sound business plan can provide your business with clear direction. It outlines your goals and aspirations and provides a path to achieving them. It can also serve as a useful indicator of performance when forecasts contained in your business plan are compared with actual numbers.

Our experts can provide you with detailed forecasts and realistic income projections based on industry knowledge and established benchmarks. This is coupled with strategic advice and guidance to ensure you stay on course and achieve your aims.

Business Structures

Your business structure is the very foundation of your enterprise. Careful thought and consideration needs to be given to your ambitions in order to ensure your proposed business structure can effectively accommodate your goals.

There are many ways to conduct your business. Is a company structure ideal? When is a discretionary (sometimes referred to as a family trust) suitable? What are the benefits of a unit trust? Will a combination of the various structures offer the ultimate path forward? When is it best to operate as a sole trader or as a partnership? We offer our clients industry leading structuring advice that considers statutory and industry compliance, asset protection, effective tax planning and operational flexibility and efficiency.

There also comes a time when you outgrow your existing structure or you come to the realisation that your structure is unsuitable for your business. Speak to our team about the structure that best suits your businesss.

Business Acquisitions & Mergers

Are you acquiring a business in order to become your own boss? Are you buying to increase market share and grow your existing business? Is it in order to take over a competitor or an opportunity to diversify your income stream?  Are you considering a strategic merger?

Buying, selling or merging a business requires careful planning. In order to achieve the required outcome detailed analysis and due diligence is essential. This includes comprehensively understanding the risks and breaking down the numbers. It is also essential to factor in potential capital gains tax ramifications and very often, substantial stamp duty implications. Our team will ensure you make an informed decision based on thorough research and analysis. We will also be there to guide you every step of the way.

Analysis & Forecasting

At Hammoud Partners we place a significant amount of importance on making informed decisions. We help our clients by providing detailed analysis and forecasts. This has enormous significance because financial institutions will make lending decisions based on analysis and financial projections.

Whether you’re embarking on a new venture, completing a new project or reassessing your trading environment in order to plan for the months or years ahead, in depth analysis will provide valuable insights and assist with strategy while detailed forecasts will provide useful financial guidance.

Forecasts are essentially a financial projection of your present expectations. The data contained in these projections will often detail targets to achieve in order to ensure profitability. They also help predict expenses so that you can ensure you are financially prepared.

At regular intervals, performance is measured against forecasts. The aim is to exceed expectations. If forecasts are not being achieved then some re-assessment may be required. Market forces may have conspired against you or maybe certain factors have prevented you from implementing your original strategy. Our team of experts will help you by providing insightful analysis and constructive advice.

Financial Management

Financial policies and controls are required to ensure entity funds are effectively controlled and utilised in a manner that best serves the business.

We help our clients with budgeting and planning. This involves managing assets and liabilities and the fundamentals of ensuring income will cover operating expenses and taxation obligations. Overlooking financial management can set a business on a path to insolvency.

Business Restructuring

There are times when an entity requires a structure or operational reorganisation. This could be as a result of changes in your circumstances, business environment, operational requirements or business growth. Perhaps you are bringing in investors, partially selling off a portion of your business or dealing with economic downturns. This requires expert advice and implementation.

A business restructure may be crucial to the growth and operational capacity of your business. The key structures available include sole trader, partnership, company or various trusts. Each structure has differences in terms of tax and regulatory obligations. There are also operational and statutory limitations to consider.

Transferring physical and non-physical assets between structures can trigger capital gains events and attract a substantial stamp duty expense. If a restructure includes the introduction of new partners it is imperative to ensure binding business agreements are put in place.

Our team has extensive expertise in the area of restructuring having assisted countless individuals and entities with a smooth transition. We take the complexity out of the equation and ensure you enjoy the benefits a restructure can bring.

Franchising Models

Have you ever considered franchising your business? Is your business ready for such an expansion? Franchising can be a very effective way to grow your business and revenue. However it also comes with significant legal and compliance responsibility.

A successful franchise model can add significant value to your business. Our team can assist you through the entire process of creating a franchise network. This includes the creation of a franchise model, systems, policies and compliance with code regulations. We have experience in the transformation of an existing business model in to a franchise network that is rolled out state wide and nationally. We also assist with the ongoing adherence to industry and regulatory changes.

Reports

Various entities require the preparation of independent reports and studies from time to time for an array of regulatory or compliance purposes.This may include submissions to financial institutions as part of finance applications or reports that relate to ongoing adherence to industry specific requirements. Then there are a myriad of reports and submissions that can assist in resolving taxation disputes with the ATO.

A concise report that effectively communicates your position, circumstances and arguments can make the difference between the success or otherwise of your application. Our team can assist in the preparation of submissions for bank funding through to complex reports for the ATO, ASIC, the OSR and industry bodies.

 

Other Services

Property and Asset Acquisition and Sales

Before acquiring or selling assets including property it is important to discuss your plans with one of our advisors. What is the purpose of the purchase? Is it an investment? What structure is best suited for the purchase? What are the tax consequences now and in the future? Can I depreciate or is it an instant write-off? Is GST applicable? Is there a stamp duty implication? What are the capital gains tax implications of an asset sale? These are only a few of the questions that need to be answered before acquiring or disposing of an asset.

Speak to one of our experts before taking a course of action that can have costly and unplanned consequences.

Bookkeeping & Payroll

Running a business can be tough and time consuming. There just aren’t enough hours in the day to do everything. It may be necessary to outsource your bookkeeping and payroll operations. Timely maintenance of financial and payroll data is an essential part of your compliance obligations.

Aside from setting up an implementing accounting and reporting systems, we can also assist with your bookkeeping and payroll functions. This relationship can also be maintained through the use of third party specialists.

Construction Industry

We assist developers, construction companies and tradespeople navigate what is a unique industry. The ATO and other regulatory bodies have placed additional compliance requirements on the construction industry. This has made compliance more complicated. Also there are additional personal liability issues to deal with.

Our team has extensive expertise in the correct application of the margin scheme, capital gains tax implications and concessions, and insurance compliance. We assist with the setup of operational systems, effective contract implementation, industry compliance and dispute resolution.

We have helped construction industry entities, both large and small, grow their business and successfully deal with the additional burdens of regulation.

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Did you know…?

Stay informed and keep up to date with your obligations. Our business environment is dynamic and impacted by an array of factors and influences. This is coupled with an ever evolving legislative and regulatory landscape. Stay connected and we’ll keep you in the picture!

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our-team

Our Team

Our accountants and advisors have extensive industry experience and are experts in the areas of accounting, tax law and compliance. We like to be viewed as an extension of your team. We believe this attitude of standing side by side delivers the best results for your business.

Sydney CBD Location

Conveniently located in the Sydney CBD, our practice offers a comprehensive range of tax, accounting and business advisory services. We cater to the business needs of an extensive and diverse client base and approach our work with a positive can-do attitude.

Dedicated Team

Our team is your team. We are dedicated to providing a service that ultimately boosts the performance of your business and assists with those difficult to make decisions. This is all part of our unwavering focus on achieving the best possible outcomes for you and your business.

Knowledge and Experience

Benefit from an expert team of accountants that has invaluable experience in the areas of tax law and compliance. We all learn a lot from our experiences. This builds invaluable knowledge and understanding that prepares us for future experiences. Take advantage of our know-how and reach your potential.

SYDNEY CBD LOCATION

Conveniently located in the Sydney CBD, our practice offers a comprehensive range of tax, accounting and business advisory services. We cater to the business needs of an extensive and diverse client base and approach our work with a positive can-do attitude.

DEDICATED TEAM

Our team is your team. We are dedicated to providing a service that ultimately boosts the performance of your business and assists with those difficult to make decisions. This is all part of our unwavering focus on achieving the best possible outcomes for you and your business.

KNOWLEDGE AND EXPERIENCE

Benefit from an expert team of accountants that has invaluable experience in the areas of tax law and compliance. We all learn a lot from our experiences. This builds invaluable knowledge and understanding that prepares us for future experiences. Take advantage of our know-how and reach your potential.

stay-informed

Stay Informed

Keep up to date and remain on top of your accounting and taxation obligations. Stay aware of the latest tax and business changes. Connect to us and we’ll keep you informed!

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Get in touch with us!

We would love to hear from you, and see how we can help you grow your business.

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Contact Us
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Contact us

Suite 2, Level 12, 338 Pitt Street
Sydney NSW 2000

t +61 2 9264 5100

f +61 2 9264 4677

e info@hammoudpartners.com.au