ReThink Tax and Business Advisory

ReThink Tax and Business Advisory is an accounting and tax practice based in Sydney, NSW, operating since 2023. Its current services are tax accounting services, tax advice, company tax returns, BAS lodgement and self-managed super fund administration. These sit at different points in the tax year: some are filings that fall due on a fixed cycle, others are decisions that need to be made before anything happens, so clients can start from whichever matter is in front of them.

Company tax returns and BAS lodgement are the recurring compliance work. A company return requires a full financial year of records to reconcile first, covering income, costs, depreciation, inter-entity balances and shareholder matters, before taxable income can be worked out. BAS is lodged quarterly or monthly and deals with GST collected and claimed along with amounts withheld from wages, so its rhythm is much tighter than the annual return. Both are driven by ATO lodgement cycles rather than by the business, which is why how consistently the books are kept during the year largely decides how difficult either job turns out to be.

Tax advice works differently, because it usually happens before something is done. How a business is structured, whether a company or trust is set up, how profits are distributed, when and how assets are acquired, and the tax consequences of expanding or restructuring are all decisions that are hard to unwind once they are in place. A return reports what has already happened; planning works out the cost beforehand. For owners going through growth, restructuring or a handover, this part of the work often affects the outcome more than the filing itself.

Self-managed super fund administration is for clients who run their own fund. These funds need separate records, annual financial statements, a lodged return and an audit, and both their investments and contributions are governed by superannuation rules. The compliance detail is finer than ordinary company bookkeeping, and because it is tied to retirement arrangements and family asset structures, it is usually considered alongside tax planning rather than on its own.

The practice is led by a Chartered Accountant who is also a registered tax agent and an ASIC agent. It works mainly with small business owners, professionals and families managing longer-term tax and asset planning, and also takes on business restructuring. The current entity has operated since 2023, with a team of 2-10 people serving clients across NSW. Clients comparing services usually find it more useful to identify first whether they are dealing with a filing that is due, a decision that has to be made in advance, or the annual compliance of a super fund, and then choose accordingly. This work is rarely finished in one step; it moves into the next stage with each financial year, business change and lodgement cycle.