Benchmarking annual accounting run rates

[Donamat]

Up

0

::

Hi all,

I’ve done a quick but not exhaustive search so please forgive me if this has been answered before.

Spoke with my local SBDC on structure. A simple consultancy based Coy of 2 partners with first year turnover probably less than $300k/pa

Advice re: my new startup was that costs for initial creation and annual ASIC mgt of;
Trustee Co
Discretionary Trust (as 50% share holder in Trading Co)
Trading co Pty Ltd

Would likely see fees of $6-8K per year.

Does this run rate seem reasonable, high or low in your opinion?
(I recognise the limitation in data I’ve provided)

Many thanks,
Donamat

*edit – this 6-8k being just my portion (not the partners) as the trust components relate to fees for the family trust

[sam_leader]

Up

0

::

Hi Donamat,

A good accountant will be able to help you here. Put in a call or drop an email asking for a quote to a few and you’ll get a good idea as to whether $6-8k is reasonable. I’m no expert but it seems on the high side to me.

Sam

[Alan Maddick]

Up

0

::

All Accountants deliver a slightly different service in a slightly different way – based on that price you would be going with a very high priced Accountant. Normal suburban Accountant will be around $2000 for the same work but it really depends what you want and what value you are getting for your $6000-$8000…

[Author]

Posts