- Specialist accountants for Sydney's small and medium businesses.
- info@iconicaccountants.com.au
- Sydney, NSW
Whether you are buying or selling a business, planning for succession, dealing with an estate or considering the tax implications of a major transaction, Iconic Accountants provides advisory services that bring together commercial thinking, taxation knowledge and practical financial insight.
Our advisory services are designed for situations where the financial, taxation and structural implications need to be considered carefully before decisions are made.
Major business and financial decisions often involve more than one area of expertise.
Our role is to help you understand the accounting and taxation implications, identify important considerations and work alongside other professionals where legal, finance or specialist advice is also required.
Buying or selling a business can be one of the largest financial decisions a business owner makes. The numbers need to be considered carefully, but so do the structure of the transaction, taxation consequences, liabilities and the longer-term impact on everyone involved.
Before a transaction progresses, it is important to have a clear understanding of the business’s financial performance and position. We can help review the available financial information, identify areas that deserve closer attention and explain what the numbers indicate about the business. This may include considering revenue, expenses, profitability, cash flow, liabilities and other financial factors relevant to the proposed transaction.
The purchase price is only one part of a business transaction. Business owners may also need to consider working capital, existing debts, tax liabilities, asset ownership, employee obligations, entity structures and transaction costs. We help clients understand the financial implications behind the broader deal rather than focusing only on the sale figure.
How a transaction is structured can have significant taxation and commercial consequences. Depending on the circumstances, there may be differences between acquiring or selling business assets, shares or interests in an entity. We can help assess the accounting and taxation implications of the proposed structure and work alongside solicitors and other advisers where required.
Arun regularly collaborates with solicitors, mortgage brokers, insolvency practitioners and other professionals. Where a business sale or acquisition involves multiple advisers, Iconic Accountants can contribute the accounting and taxation perspective so the different parts of the transaction are considered together.
Succession planning is about preparing for the eventual transfer of ownership, control or assets before circumstances force a rushed decision. For business owners, careful planning can help reduce uncertainty and make the transition more manageable for everyone involved.
A succession plan can involve transferring a business to family members, introducing new owners, selling to an external party or gradually changing the ownership structure over time. Each option can create different taxation, financial and administrative consequences. We can help assess the financial position, existing structures and potential tax implications so these considerations are understood before a transition takes place.
Companies, trusts and other entities can play an important role in succession planning. The way assets and business interests are held may affect how easily they can be transferred and what taxation consequences arise. We can review existing arrangements and work with your legal advisers where structural changes or estate planning documents need to be considered.
The administration of a deceased estate can create a range of accounting and taxation obligations. We can assist with the financial and tax aspects of an estate, helping executors and advisers understand the records, reporting requirements and taxation matters that need to be addressed.
Deceased estates and succession matters often require legal advice alongside accounting and taxation support. We work collaboratively with solicitors and other professionals so financial information and tax considerations can be addressed as part of the broader estate or succession process.
The sale of a business, business asset or ownership interest can create a substantial capital gains tax liability. For eligible business owners, the small business CGT concessions may significantly reduce the amount of tax payable, but the rules are detailed and need to be considered carefully.
Small business CGT concessions are subject to a number of conditions. Eligibility can depend on factors including the nature of the asset, business turnover, net asset values, ownership arrangements and how the asset has been used. We help clients assess their circumstances and determine which concessions may need to be considered.
Depending on eligibility and the transaction, several small business CGT concessions may be relevant. These can potentially reduce, disregard or defer part of a capital gain. The interaction between the concessions can be complex, so it is important to understand the available options before making assumptions about the likely tax outcome.
Timing can be particularly important when dealing with capital gains tax. If a transaction has already occurred, the opportunities available may be more limited. Where possible, we recommend considering the taxation implications before contracts are signed or ownership changes take place so the transaction can be assessed properly.
Capital gains tax should rarely be considered in isolation. The transaction may also interact with business structures, superannuation, trusts, retirement planning and other taxation issues. Arun’s postgraduate taxation study and experience with business structures and discretionary trusts provide a strong technical foundation for assessing these broader considerations.
The right advice can help you understand the financial consequences before you commit to a major transaction or change.
Understand the financial position behind a business, transaction or estate rather than relying on surface-level figures.
Consider capital gains tax, structures and other taxation issues while there is still time to assess available options.
Coordinate accounting and taxation advice with legal, finance and other professional input where a matter requires a broader team.
Really great service received. Always exceeds my expectations.
Good advice often requires looking beyond an individual tax return, transaction or reporting deadline.
Arun brings more than 25 years of experience across accounting, taxation and auditing to the advice provided to clients.
Postgraduate taxation study, CPA qualifications and specialist SMSF education provide a strong technical foundation for more complex matters.
Our work is concentrated on small and medium-sized businesses, giving us insight into the practical financial and administrative pressures business owners deal with every day.
When a matter involves legal, finance, insolvency or other specialist issues, we can work alongside the relevant professionals to help bring the different parts of the solution together.
Long-term relationships mean a great deal to us. Read what business owners and other professionals have said about their experience working with Iconic Accountants.
Iconic Accounts and Arun have proved a trusted and highly valued service to my businesses and personal wellbeing for many years. Arun is aware of the latest government regulations around taxes and superannuation.
I personally recommend Iconic for anyone with a business, SMSF or personal income tax requirements. I consider Arun a friend and a value contributor to my business and personal financial affairs. Feel free to reach out to me directly for more info.
As a BAS Agent , I deal with numerous accounting firms. Iconic accountants has been my preferred accounting practice for the past 5 years.
You’ll get great service for sole traders up to big business. Arun has always responded to my queries/questions when they arise and continues to look after my clients in a professional and timely manner.
Arun has been our accountant for about 7 years and he has always given us good advise. His trustworthy and just an honest guy. Always happy with his services.
Very good to work with and very responsive to returning calls and emails..
Very professional and very helpful in understanding and getting your business on the right track..
As a sole trader Arun has helped me to manage my tax very well..
Great service