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Our Insights

December 3, 2018

Jim Goodwin from GMO and Clinton O’Neill from Thorntons discuss Capital Gains Tax on sale of a business. Clint and Jim discuss the implications of selling a business on Capital Gains Tax. You should consider these as part of your business sale plan.   J.G:      Do I pay tax on the whole sale price of my business? […]

November 14, 2018

Simon Read, founder of PPSAdvisory, is helping us unravel the mystery of the Personal Property Securities Act 2009 (PPSA) and detail why it’s so critical you appreciate its application for your business. It’s a big topic so we’re breaking it down into “bite sized” pieces, identifying the five principle ways in which the PPSA is likely to […]

October 2, 2018

What is PPSA? PPSA is a big topic so we’re breaking it down into “bite sized” pieces, these future newsletters identify the five principle ways in which the PPSA is likely to have application to your business. Business loans Selling goods/materials on credit to your customers Leasing or renting equipment to customers Asset protection structures […]

September 12, 2018

Many businesses consider casual employees a flexible and low risk option. The cost-benefit analysis most business owners run tends to go like this (in summary): “In exchange for the higher hourly rate, I don’t need to pay annual leave or sick leave, and they cannot claim unfair dismissal…” (or something to that effect). Last week’s Full […]

August 22, 2018

Franchising is a popular choice for Australians wanting to move from employment to owing their own small business. Buying into an established business system with a known brand is generally less risky than developing a business from scratch. Note however, a franchise system is designed to assist the operator by giving them instructions on what […]

May 31, 2018

Following the introduction of the transfer balance cap (TBC) in 2017, the Australian Taxation Office (ATO) has introduced new reporting obligations for Self-Managed Superannuation Funds (SMSFs). Commencing from 1 July 2018, SMSFs will be required to report events to the ATO which impact on an individual’s transfer balance account (TBA). This reporting is required to […]

May 2, 2018

If your startup has celebrated its second birthday congratulations! Your business is one of the 3% of Australian startups currently reaching this milestone. If you’re on the brink of starting a new business, adopting the following financial habits can greatly increase your chances of turning two. Two of the three reasons for small business closures identified by the Australian […]

April 19, 2018

You may have recently received correspondence from the Tax Office regarding changes to the SBSCH. To assist with the changes the ATO have released a useful booklet to guide you through the process, but it may seem a little complicated at first glance. Essentially: – If you are a sole trader or individual, you will […]

March 15, 2018

Single Touch Payroll (STP) is changing the way employers report to the Australian Taxation Office (ATO). STP becomes mandatory from 1 July 2018 for employers with 20 or more employees and is optional for all other employers. To get ready, you need to do the following: – Confirm your headcount now, to know whether you’re […]

February 5, 2018

Single Touch Payroll (STP) is a new way to streamline business reporting obligations. As an employer, you will be required to report salary or wages, pay as you go (PAYG) withholding and super information to the ATO from your payroll solution, at the same time you pay your employees. Rather than paying your wage tax […]

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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