Guidance beyond the business numbers

Business owners, particularly SMEs, rely on their accountant to keep the numbers in order. But if that’s all we’re doing, we’re not doing enough.

Over the years, I’ve seen many clients enter their late 50s or early 60s without a clear picture of what their retirement will look like. They’re not sure whether they should sell their business, retain it, pass it on, or wind it down. Often, they’re unaware of the superannuation caps, tax concessions and strategic opportunities available to them.

This is where financial guidance, not financial advice, becomes an integral part of the business accountant/client relationship.

As an external business accountant, my role is to provide strategic financial guidance. I’m not selecting investments or recommending specific financial products; that’s the role of a licensed financial adviser.

What I do is help you understand your position, your options and the broader financial possibilities you can tap into. I guide you through the tax implications of selling a business. I ensure you understand how superannuation contribution caps work. I highlight concessions that may significantly reduce your tax liability. I ask the questions that help you think five, ten or even fifteen years ahead. Guidance is about strategy. It’s about clarity. It’s about making informed decisions before you act.

When that guidance is delivered early enough, it can dramatically improve your long-term personal financial outcomes.

A misconception I experience is that business owners assume they can decide to sell and have it done within a year.

In reality, properly preparing a business for sale can take up to 5 years.

To maximise value, the business needs to look “sellable”. That means removing discretionary or personal spending that reduces profitability on paper. It means tightening systems and processes. It means ensuring the business isn’t overly dependent on you as the owner. It means presenting clean, reliable financials that a buyer can trust.

If we start this process five years out, we can significantly improve both the sale price and the tax outcome. If we start five months out, many opportunities are already lost.

Another issue for SME owners is superannuation. Many small business owners are unaware of the superannuation contribution caps and small business CGT concessions available when selling a business.

Depending on your circumstances, you may be able to contribute substantial amounts into superannuation from the proceeds of a sale, often in a highly tax-effective way. There are lifetime caps and specific concessions designed to help business owners transition into retirement.

But these opportunities require planning. They require eligibility checks and careful timing.

Recent legislative changes have also, in some cases, made it easier to make tax-deductible super contributions in the years leading up to retirement. If structured properly, these contributions can meaningfully strengthen your retirement position

Retirement planning isn’t just about super. Your primary residence plays a role in your long-term financial security. In many cases, it becomes a core component of your overall retirement strategy, whether through downsizing, debt reduction or freeing up capital.

Investment properties also require careful consideration. Should you retain them? Sell them before retirement? Stagger sales across financial years? Consider capital gains implications?

These decisions intersect with tax law, cash flow, estate planning and superannuation strategy. As your accountant, I’m uniquely positioned to help you see how these pieces fit together.

When it comes to selling a business, restructuring assets, and planning retirement, your accountant should be one of your first calls. We understand your business history. We know your financial patterns. We can identify tax consequences and structural opportunities before decisions are locked in.

Financial planners provide invaluable services in selecting and managing investments. But before money is invested, there is strategic groundwork to be done. That’s where structured financial guidance makes a real difference.

The goal is to use your accountant’s full skill set, not just for compliance and year-end reporting, but also for long-term planning.

In addition to providing strategic accounting guidance, we have an accredited financial advice arm that our business clients can access when they are ready for formal financial advice.

This integrated model ensures continuity. We can guide you strategically for years as you prepare for retirement or a business sale. Then, when the time comes to implement investment strategies or structure your retirement income streams, our wealth manager, Cayle Petritish, also a CPA, can step in with licensed advice tailored to your goals.

This service ensures a holistic approach, from business strategy to personal wealth management, aligned under one coordinated methodology.

SME owners tend to limit their focus to the next BAS, the next tax return or the next 12 months of trading. My role is to help you think further ahead.

• If you’re 55, we should be talking about 60.
• If you’re 60, we should be planning for 70 and beyond.

Strategic financial guidance today can shape the quality of your retirement. With the right guidance and access to integrated financial advice when needed, you can ensure that effort translates into lasting personal wealth and security.

North Advisory, located on Sydney’s Northern Beaches, is ideally positioned to assist you with expert financial management, taxation planning, and the implementation of economic strategies.

Marius Fourie, Director and Accountant, is a leading business accountant and advisor who has helped many Australian businesses maximise their financial position.

Contact Marius today and secure your financial future.