Partnership

What is a partnership

A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits.

There are several types of partnership arrangements. In common partnerships, all partners share liabilities and profits equally. In limited partnerships, partners may have limited liability. There also is arrangement that involves “silent partner,” in which one party is not involved in the day-to-day operations of the business.

Advantages and disadvantages of a partnership

The advantages of a partnership include:

Easy to establish
Low start-up costs
Greater borrowing capacity
Limited external regulation

The disadvantages of a partnership include:

Unlimited liability
High chances of complications between partners.
Each partner is personally liable for company’s obligation

How we can help

We can help

Register partnership name
Register ABN, TFN, GST, PAYG and relevant taxes
Create partnership books of accounts
Manage ongoing tax, GST, PAYG and other compliance
Optimise tax for the partnership and partners

Success stories

How Wilson & Associates helps us with our profit turn-around and growth strategies – by Dr. Watson, CEO, Ethos Health,13/06/2018

A profit turn-around of almost 300%

20% savings on a tax assessment, coupled with 20% annual savings in tax compliance

A rigorous growth budget with full alignment of strategic objectives with executional strategies in terms of people and marketing.

learn more

Wilson & Assoc provides robust planning, rigorous performance management, commercial and strategic advice, and helps drive profit and accelerated growth.

Improve cash flow. Maintain high level of trust and confidence with suppliers, during short cash-tight periods.

First year of engagement (F17) – reduce operating loss by 2/3

Second year (F18) turn-around to profit

learn more

What we are about

We are passionate about bringing big company financial capabilities to startups and small businesses without the big costs.

Our mission is to help you create the financial future you want for your business, yourself and your family.

Our business is to help you build wealth, increase cash and profits, and grow amazing business.

What our clients say

5.0

Wilson & Assoc Chartered Accountants has played a key role in our business turn-around, rapid growth and capital raise. They have provided financial structure and rigour to optimise decisions and outcomes of strategy implementation and performance enhancement. They have brought a new level of financial clarity and confidence to our decisions and choices, both strategic and operational.

Dr Trent Watson

CEO, Ethos Health

After going through many accountants that were hard to reach or just didn't care, I finally found Wilson and his team, who have the time and patience to talk through all of your accounting needs whilst also providing expert business advice. Thank you Wilson & Associates for making the positive difference that our business deserved.

Janalan Seelan

CTO, Booncave

Thank you to Wilson of Wilson and associates for the hard work on my tax returns. The no fuss service was outstanding, considering the hard task that was set to him. My returns predated online lodgement (to the current system) with lots of paper documents and back checking. I highly recommend Wilson to anyone wanting good service and communication, and great outcomes. I will be definitely be using him for years to come.

Stuart Brown

Gardening & Landscaping

Very Happy To have Wilson & Assoc as my Accountant for business and personal maters. Very professional, friendly and most of all he works hard to make sure you get the best outcome with your tax return as well as giving you the best advice to better your business. Always notifying me with every step when working on any procedures to do with my business. Doesn't matter if you are a big business or small you are treated with the same care and respect and given the same service. I highly recommend their services.

Ana Giusti

Restaurant Owner

Wilson & Assoc Chartered Accountants has been of the greatest help to us personally and as small business owners. Their personal service, ongoing support and advice help to simplify accounting and taxation matters from the day to day through to end of year. And it's all done without a fuss.

Andre Ogle

Printing Business Owner

The service is professional, efficient and reliable and we trust Wilson to get the job done right. But most importantly, it’s so nice to deal with someone that is genuine and cares about the things that are important to us. Thank you for looking after us Wilson.

Vivien Chau

Financial Risk Manager

My tax return was done very fast and efficient with all the paperwork included, I would definetly reccomend them.

Michael Antonakis

Ski Sport Photograher

Wilson is a great accountant and extremely helpful know exactly what to do with my finances gives me complete step by step instructions on what to do to get my tax affairs in order. 👍👍👍 highly recommend him

Darren Truong

DT Builds

Very knowledgeable and professional service. Glad to have finally found a tax accountant that instills confidence.

Dominic See

IT Technician

Finally found an accountant that is courteous and knowledgeable but most importantly efficient with great pricing. He's always willing to look at different avenues to land on a positive outcome for us. We highly recommend his services.

Frank Ribosa

Surfing Accessories Supplier

I have recommended my clients to Wilson & Associates and the feedback has been very positive. Specifically that Wilson was professional, courteous and clearly explained complex tax rules in an easy to understand way, without any jargon. If you're looking for a great a tax agent and accountant, definitely contact Wilson & Associates.

Jason He

Mortgage Broker

Wilson is very professional and had helped me resolved my complex issue with the tax office. I highly recommend him.

Kevin Yeo

Engineering Manager

Wilson is by far the best tax agent I have used. He is quick and thorough and a very friendly person to work with. I have already recommended him to friends and family. Will be coming back again and again

Zana Serdar

Immigration Lawyer

I was very impressed with how thorough and quick they were. It made process smooth and flawless. Definitely going to use them again.

Bryce Taylor

Event Manager

Another year tax return done, thank you for making this yearly experience so easy, fast and professional.

Emer Elias

Receptionist

Very proactive, professional and educates where required.

Kieran Babich

Director, Wash Rider, Water sports supplies