Welcome from Saul Markunsky CA
to ‘In The Picture’, a boutique accounting
firm in Sydney’s Surry Hills, established over
20 years ago we specialize in the Entertainment Industry
but have a vision which embraces all professions."
I bought into the practice four years ago when the client base
consisted of about 300 clients, we have since expanded the practice
to over 1,500 clients and growing. We must obviously be doing
The practice consists of two partners, Kamal Gill Thomas and
myself, four full time accountants and a host of auxiliary support
staff that keep the office running.
Our expanding practice now boasts a wide range of clients both
in the entertainment industry, sports industry and representatives
of other professions, tradespeople and average wage earners.
No client is too small to get our dedicated, professionally
Anybody can do basic compliance work, what you get from us is
an understanding of your financial situation and advice that
will help you minimize your tax and maximize your financial
well being. Help you reach your life’s goals.
We endeavour to surround ourselves with professionals that have
the same approach and competence as we adhere to, hence we have
firms who we refer our clients to with whom we are comfortable
with and confident in. Experts who can advise on financial planning,
insurance and legal matters. Our clients are looked after from
every angle that needs attention.
A good question to ask yourself is how do you know if you have
a good accountant and financial advisor?
Maybe the answer is you get what you pay for!
Recently I had a new client come to me, when I asked him what
he does he told me that he worked for one of the mass market
tax preparation firms and that he prepared tax returns. I was
quite taken back and asked why he had come to see me. His reply
was that after a three week course he was put in front of clients
to prepare their tax returns and that he felt his knowledge
was not adequate to complete his own return and I thought what
about all the poor clients who are paying for his services?
A good understanding of tax and years of experience are essential
in getting the best results, although some of our employees
are young they have the proper university education and all
work is reviewed and signed off on by a partner before it is
submitted to the Australian Tax Office. Each return is given
all the attention it deserves and the best results are achieved.
Our staff required to continue their professional education
to keep up with the latest changes in the Australian tax system
and compliance. You will be fully assisted in your taxation
matters feeling secure that the decision being made will be
in line with the very latest tax office decisions.
Another new client of ours who is involved in the wholesaling
industry, his old accountant had prepared three years worth
of his financial return and told him he had to pay over $100,000
in tax. The returns were correct but the accountant had failed
to look at some of the Income Tax Act Provisions which provided
relief for companies likes his from taxation. By using the Simplified
Tax System to the clients advantage we managed to get them into
a situation that not only did he not have to pay tax but also
has a loss carried forward of over $30,000.
How did we do this?
By using the Act to his advantage. In the first two years his
receivables exceeded his payables so we put him into the Simplified
Tax System which allows one to account on the cash basis this
means that you do not pay tax on money that you have not received.
In the third the situation reversed and his creditors were higher
than his debtors. We then took him out of the STS System and
returned him to the accruals basis. This is not hard and not
expensive but merely experience and thought that was needed
to save the client heaps of money.
So to answer the question a good accountant must not only have
an excellent knowledge of the tax laws but must be able to think
laterally to give you value for money.
I would welcome those of you who are not clients to come and
see us, experience the difference, and let us put you back in
Saul Markunsky CA