The Active Accountants Team
Scott Lawrence is a Certified Practising Accountant and has over 25 years experience in public practice as a tax consultant.
The firm employs administrative staff to assist in the process of delivering quality financial services to our clients in a friendly environment.
All internal staff are encouraged to undertake further learning in the form of workshop seminars to develop their skill sets for example:
Microsoft software applications
General Ledger Programmes such as MYOB and Xero online packages
Basic tax training courses
Other professional staff are engaged by the firm to provide back up support to Scott with tax compliance work but you can be guaranteed that you as our clients will always be dealing with Scott on a one to one basis.
Originally from Tasmania, Scott has been based in Far North Queensland since 2003 with time spent in Mareeba the first stint since leaving the "Apple Isle."
He is the sole Director of the business.
Scott is a Certified Practising Accountant with Fellow status and holds a Bachelor of Business Degree. Additionally, he is currently undertaking R4146 (regulatory guide) in order to obtain limited/proper authority in the field of financial advice, particularly in relation to Self Managed Superannuation Funds.
Scott has over 25 years experience in public practice as a tax consultant and has also held management roles with Rydges Hotels & Resorts as a Financial Controller in addition to working experience gained in Local Government in financial services.
The firm/Scott hold professional memberships with:
Fellow of C.P.A. Australia
Tax & Accountants Association
Tax Institute of Australia
Registered Tax Agent - Tax Agents Board
Scott identifies cash flow and having an adequate record keeping system as the cornerstone of operating a business efficiently & effectively.
"Obviously once a market need has been established for a business having a good level of working capital is paramount to surviving the initial years of being a business owner, too many have cash tied up in stock & other non liquid assets - sales need to be converted to cash quicker than payments are made for materials/suppliers which provides the business with internal working capital in addition to having a reliable source of owner working capital to meet other commitments from time to time."
"Without having a reliable record keeping system - such as an online cloud accounting package, it is important to record all receipts and payments in a timely accurate manner for not only B.A.S. commitments and end of year financial statements/tax return obligations but also for management purposes - simply relying on the monthly bank statement balance is not going to be adequate enough - business owners need to know what their internal working capital levels are at all stages of the business cycle and obviously for G.S.T. and taxation commitments - everyone has to pay tax, if you are paying tax then the business is making money, which you as a business owner want to achieve then it is our job to minimize your tax obligations & plan future G.S.T and income tax obligations - the P.A.Y.G. tax instalments system has caught many people out through failing to have adequate record keeping systems and working capital.”
Obviously as the business grows & develops the most relevant trading structure may well change which is beneficial in minimizing tax obligations and providing you with protection of personal assets and changing a trading structure that operates the business in most cases does not incur Capital Gains Tax.
Scott`s outside personal interests include sailing, reading, A.F.L. Football and Golf.