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Pennywise Accountants
Frequently Asked Questions
First, raise the complaint with the financial service provider through their internal dispute resolution process. If unresolved, escalate to the Australian Financial Complaints Authority (AFCA)—the independent external dispute resolution scheme. Providers must be AFCA members; you can lodge complaints online or by phone. See AFCA for current details. Regulatory requirements can change; refer to ASIC and AFCA for the latest guidance.
Check the Australian Securities and Investments Commission (ASIC) professional registers online to confirm whether a provider holds an Australian Financial Services (AFS) licence. An AFSL is generally required for businesses providing financial services; unlicensed providers may be operating illegally. Search by business name or licence number on the ASIC website before engaging any financial services.
Yes, many advisers specialise in sectors such as technology, healthcare, retail, or professional services. Sector-specific advisers understand regulatory requirements, funding options, and market dynamics that general consultants may miss. Look for documented experience in your industry or a network of specialists who can support niche challenges.
Ongoing support often includes strategy reviews, financial monitoring, compliance updates, and access to adviser networks. Many relationships involve monthly or quarterly check-ins to review progress, adjust strategy, and address challenges. This allows timely guidance on grants, expansion, or operational improvements as the business develops.
Advisers help with registration for GST, PAYG withholding, and other tax obligations, and can support tax-efficient structuring (e.g. income splitting, deductions, R&D claims). They assist with ATO requirements, BAS preparation, and changing legislation. For tech start-ups, they often help with R&D tax incentives. Compliance rules change; work with your adviser and check ATO for current guidance.
Online services typically handle basic registrations; advisers provide strategic guidance on structure, tax optimisation, compliance, and growth. They can identify issues early, explain obligations beyond registration, and support you as the business evolves. This is especially valuable for complex ownership, multiple revenue streams, or plans to scale quickly.
Yes, experienced advisers often assist with pitch decks, financial models, and connections to investors (venture capital, angels, government programs). They can help identify options such as the Research and Development Tax Incentive (generally providing a tax offset equal to the company tax rate plus a premium on eligible R&D expenditure, subject to turnover tests and a $150 million expenditure threshold), Export Market Development Grants, and accelerator programs. Eligibility and rates depend on your circumstances; check current ATO and business.gov.au guidance or speak with a specialist adviser.
Engaging an adviser early—ideally during the conceptual phase—helps you avoid costly mistakes in business structure, tax structuring, and initial compliance. Advisers remain useful at any stage: when raising capital, scaling operations, or navigating regulatory changes. Early input on structure, funding, and compliance is often most valuable.
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