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SMEs Must Speak To Both Their Accountant And Broker Before Purchasing Property

SMEs Must Speak To Both Their Accountant And Broker Before Purchasing Property

Small businesses across Australia are gradually coming to terms with the fact that unified accounting and lending solutions are vital for growing their SME and establishing assets.

As mentioned in a recent article by AccountantsDaily, having both a talented accountant and a talented broker is crucial for lending success. However, most importantly, the accountant and broker should have a strong relationship because the two areas are much intertwined.

Particularly when purchasing property, either for self-occupying or investment purposes, an accounting and broking team that can work together is vital.

A small business accountant and/or property tax specialist can:

  • Give you advice on whether you should be purchasing in your own name, in a trust, in a partnership, or in a SMSF.
  • Assist with maximising your total return if the property is an investment.
  • Interpret your business trajectory and objectives, and seek a solution that is in-line with that.
  • Inform your broker of your business cash flow circumstances.
  • Work with the broker to uncover a finance structure that will allow for tax effectiveness and competitive interest rates.

If the accountant and broker are working separately, neither parties will be informed of important details on their end.

It is the same deal when considering business loans and other forms of finance.

At Paris Financial, we have property tax accounting services and lending solutions under one roof. Our teams can work together to ensure that every area of your finances are covered. We are also small business tax champions, so we have extensive experience managing the complex matters associated with business structures and loans.

Before you make your next property purchase, be sure to get in touch with our full financial service team.