Accounting Services in Australia

Our accounting services in Australia are specifically designed for startups, SMEs, and foreign-owned subsidiaries operating in the Australian market. This service is crucial for founders who require accurate, compliant financial reporting and strategic insights but want to avoid the high cost and complexity of hiring an in-house finance team. Whether you are claiming R&D tax incentives, managing GST, or preparing for an audit, our expert accountants provide the support you need.

Professional accounting is necessary from the moment your business begins to have significant financial activity. It is legally required for preparing annual financial statements for ASIC (if applicable), filing company tax returns with the Australian Taxation Office (ATO), and managing your Goods and Services Tax (GST) obligations through Business Activity Statements (BAS). It becomes indispensable when seeking investment, applying for loans, or planning for growth.

The cost of outsourced accounting in Australia is scalable and provides exceptional value compared to hiring an in-house accountant. Typical monthly costs are:

• **Startups and Small Businesses:** AUD $500 – $1,200 per month for core accounting and BAS lodgement.
• **Growing Companies:** AUD $1,200 – $3,000 per month for more complex needs, including management reporting and forecasting.
• **Multi-entity or Complex Operations:** Custom pricing based on specific requirements.

By outsourcing to YourLegal, businesses can reduce their overall finance and administration costs by up to 60%, freeing up capital for growth-oriented activities.

Inaccurate or non-compliant accounting in Australia poses significant risks that can disrupt your business and lead to financial penalties:

• **ATO Audits and Penalties:** Incorrect income tax or BAS filings can trigger costly audits and penalties from the ATO.
• **ASIC Non-Compliance:** Failure to maintain proper financial records is a breach of the Corporations Act and can lead to director penalties.
• **Poor Financial Visibility:** Inaccurate reporting leads to flawed business decisions, poor cash flow management, and an inability to secure funding.
• **Investor Distrust:** Investors require timely and accurate financial reports. Failing to provide them can damage credibility and hinder fundraising efforts.

Outsourcing your accounting to YourLegal provides access to a team of qualified Australian accountants who are experts in AASB standards, ATO tax law, and ASIC regulations. This model delivers more than just record-keeping; it provides a strategic financial function without the high overhead of salaries, benefits, and office space for an in-house team. We ensure your books are always audit-ready, your compliance obligations are met, and you have the financial insights needed to scale your business in Australia. It’s the smart, scalable, and secure way to manage your company's finances.

This approach is particularly beneficial for non-resident founders who need reliable local expertise to navigate the complexities of the Australian financial landscape. We handle the details so you can focus on your core business. For more specialized needs, consider our Virtual CFO services.