Category: Blogs

October 15, 2020

‘Asset protection’ is a general term which encompasses a broad range of planning activities directed towards reducing risk exposure of business owners and other individuals – effectively, by seeking to limit a potential creditor’s ability to access assets or value. Creating the correct business structure is essential for asset protection Sole Traders and Partnership are […]

October 7, 2020

The Federal budget was announced on Tuesday 6th October after a delay due to the coronavirus pandemic. Treasurer Josh Frydenberg said it would focus heavily on job creation in order to pull the country out of the economic crisis it faces. With uncertainty remaining until a vaccine for Covid-19 is available, there will likely be […]

September 17, 2020

Are you a farming business that has been affected by drought? Does your business supply goods or services to farm businesses in an affected area? Do you sell products into supply chains that are interstate or outside Australia, or plan to in the future? If any of the above applies to you, you may be […]

September 16, 2020

It takes guts to start a business. It also takes a strategic mindset to succeed. Business owners are no strangers to weighing risk and navigating uncertainty, but the current climate has dialled everything up. Many business owners face the uncomfortable position of having to remap carefully thought-out succession plans and exit strategies and to consider […]

September 16, 2020

Buying an existing business can be a great way to get started as a business owner, or to expand operations if you are already running a business successfully. Established businesses have already done the hard work of setting up a business, so you can get up and running on day one without a lengthy formation […]

September 16, 2020

The small business Instant Asset Write Off was increased to $150,000 in March 2020 as part of the Governments COVID-19 response measure. Small businesses can now claim an instant write off for business assets purchased and installed ready for use by 31 December 2020, where the purchase price is below $150,000. However, one important item […]

August 21, 2020

Making time to look over your financial reports each month is an important task for any business owner. If you are not taking the time to do this, either because you’re too busy, or perhaps you don’t really understand what you’re looking at and it doesn’t make sense to you, then here are 6 reasons […]

August 21, 2020

It’s vital for businesses to free up as much cash as possible, particularly in these tough economic times. Your ‘lock up days’ is the number of days it takes to convert your debtors, stock and work in progress into cash. A high number of lock up days means your business needs to have more cash […]

August 19, 2020

Paid a tradie? TPAR reporting is due the 28th of August. You need to lodge a TPAR if you pay contractors for building and construction services and: -you earn 𝟓𝟎% 𝐨𝐫 𝐦𝐨𝐫𝐞 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐢𝐧𝐜𝐨𝐦𝐞 from building and construction services, or -𝟓𝟎% 𝐨𝐫 𝐦𝐨𝐫𝐞 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐚𝐜𝐭𝐢𝐯𝐢𝐭𝐲 is from building and construction services. […]

August 14, 2020

With the release of JobKeeper 3.0 some of the eligibility rules have changed from fortnight 10. The relevant date of employment has been moved from 1 March 2020 to 1 July 2020. This means employees who were previously not eligible, may now be eligible for the current Jobkeeper period as well as the extended periods. […]

We have numerous mutual farming clients with Thorntons and find them to be exceptional accountants and advisers. They know their ‘stuff’, communicate exceptionally well, deliver on time and work hard to provide solutions for clients that take into account not just the best short term outcomes but those that better position the business for the future.
Planfarm Academy
Troy came highly recommended when we were looking around for an accountant who wanted to be a ‘partner’ in our business rather than just a compliance service provider.  We also needed assistance navigating farm succession.  Troy has been a pleasure to deal with and any team member we have worked with throughout Thorntons has been exceptional – upbeat, knowledgeable and responsive.  Troy is accessible, takes a genuine interest in his clients and is only too happy to get out on farm.  He is intuitive, patient, and able to quickly get to the core of what humans need during challenging conversations - keeping things moving forward. Troy’s integrity and experience in negotiating succession is evident from introduction and we have really appreciated the next level of organisation Thorntons bring!  Wish we had changed sooner!
Jason & Renaye Stokes, CJ Stokes and Son, Chapman Valley
We have been with Thorntons since 2004. They have uncompromisingly provided our farm with advice above and beyond accounting services. The way they provide us with advice makes us know they care about our success.  They update us with the latest legislative changes that may benefit our operations and communicate it to us in our lingo.  We find we can call Thorntons anytime and all of the staff are able to help. Troy Anderson has been the expert behind our succession planning with fairness and authority he has facilitated our move forward and assisted us to be our best. Trusting Thorntons with our business gives us more time to focus on operations knowing they are always giving us the best advice.
Paul & Jocelyn Seymour, DJ Seymour & Co, Miling WA
Troy has been our accountant for five years and we always find him to be very professional, friendly and of high integrity.  He responds promptly to any queries we have and gives sound advice.  We would highly recommend Troy to anyone looking for an excellent accountant.
Juliet Vilé, Fencespot, Wangara WA
We recently made some changes in our life, moving from broad acre farming in the Wheat Belt to owning an Irrigation business in the South West.  In doing so, we researched for a new accountant who understood broad acre farming, small business as well as assisting us with sound financial advice for our future.  Thornton’s were recommended to us by several friends.  We are really happy with how accessible the team are at Thornton’s, their level of knowledge and continuous communication.
Tom & Felicity Pollard, Thinkwater, Dunsborough WA
Thorntons is one of the best accounting firms I have dealt with.  We always receive honest and professional advice especially from Troy and his team. I would strongly recommend this company without hesitation.
Gavin Vilé, Fencespot, Wangara WA
We have been with Thorntons for over 30 years. Troy Anderson our accountant for the last 15 years has always had our back. Troy has not only helped us with day to day accounting but careful tax planning and a delicate succession plan has been achieved with success. I am very happy with the service we receive and consider Troy as one of my true friends.
Doug Ellis, PJ Ellis & Co, Kulin WA
Perth Anaesthetic Group has worked with Thorntons Accountants and Business Advisors since 1987. I have personally worked alongside Abha and the team for the last 8 years, within this time I have found their services and professionalism to be exceptional. Company financials are always completed as per the scheduled date and professionally presented. In recent times with Covid, being a small business we have needed help with Jobkeeper and eligibility for Stimulus packages, I have found Abha and the team have gone above and beyond to help and guide us to ensure we have the most up to date information to determine eligibility. I am reassured having Thorntons as our Accountants/Business Advisers and look forward to continuing working with Abha and the team.
Jane McGrath – Practice Manager – Perth Anaesthetic Group
We have numerous mutual farming clients with Thorntons and find them to be exceptional accountants and advisers. They know their ‘stuff’, communicate exceptionally well, deliver on time and work hard to provide solutions for clients that take into account not just the best short term outcomes but those that better position the business for the future.
Cameron Weeks
I work collaboratively with Troy, Marie and their team in the areas of estate planning, farm succession planning and related party property transactions. Troy and Marie's attention to detail and professionalism are of the highest standard and they work hard to attain practical and viable business solutions for their clients. They are both clear communicators, accessible and a pleasure to work with.
Julie Murray, Solicitor, Yarramundi Law
Our company has found Marie and the team at Thorntons to be extremely helpful in their approach to our business. They are always ready with a reply to our emails or phone calls. Nothing is too much trouble for Marie and the team, they go above and beyond to help us with our taxation. I would recommend them anytime.
Splitrock Farming Co., Kerry Robinson
Our business relationship with Thornton's goes back many years, in fact we may well be their longest running client, having been with them for over 40 years. We have come along way from humble beginnings as a bricklaying contractor to where we are today as an established leader in the field of commercial heritage restoration and sustainable building design in multi-unit residential developments, however, the level of respect, service and courtesy has admirably remained unwavering over that time. Thornton's have constantly provided service of the very highest level, are responsive to our needs and are progressive in their offerings without ever being pushy. Importantly, the people we need to speak to are always available when we need assistance or advice on a range of matters and deliver when they say will. They are one of our most trusted partners in business. Importantly, the relationship while professional, is always conducted in a friendly and open manner. We would recommend Thornton's in the highest possible terms to any potential clients.
Daniel Colgan – Director – Colgan Industries Pty Ltd