Chartered Accountants North Sydney –
Your Local Accounting Team in North Sydney
Prime Partners is a chartered accounting firm located at Level 4, 1 James Place, North Sydney NSW 2060 – just minutes from North Sydney Station and the CBD.
We provide expert tax, business advisory, SMSF, and accounting technology services to small and medium businesses, high-net-worth individuals, and families across the Lower North Shore and greater Sydney.
Our North Sydney Services
Tax & Business Services
- Annual financial statements and tax returns
- BAS preparation and lodgement
- Payroll tax and land tax compliance
- Business structuring and entity setup
- Tax planning strategies for individuals and businesses
Business Advisory & Coaching
- Growth strategy and business planning
- Cash flow management and forecasting
- KPI development and performance tracking
- Succession planning
- Start-up advisory
SMSF Administration & Tax Services
- SMSF establishment and structuring
- Annual compliance and reporting
- Investment strategy advice
- Audit coordination
- Pension and retirement planning
External Finance Team & Virtual CFO
- Xero setup, training, and advisory (Xero Platinum Partner)
- Cloud accounting migration
- App stack integration
- Process automation
Why Choose Prime Partners North Sydney?
Chartered Accountants
Members of Chartered Accountants Australia and New Zealand (CA ANZ)
Xero Platinum Partner
Expert cloud accounting advisors with the highest Xero partnership level
Fixed-Fee Pricing
No surprises – transparent costs so you always know what to expect
Visit Our North Sydney Office
Address
Level 4, 1 James Place
North Sydney NSW 2060
Contact
Phone: 02 8378 2421
Email: [email protected]
Office Hours
Monday to Friday, 8:30am – 5:30pm
Getting Here
- 2-minute walk from North Sydney Station
- Street parking available on James Place
- Close to the Greenwood Plaza precinct
Areas We Serve
- North Sydney, Neutral Bay, Cremorne, Mosman
- Crows Nest, St Leonards, Artarmon, Chatswood
- Sydney CBD, Surry Hills, Pyrmont
- Epping, Macquarie Park, Ryde
- Parramatta and Western Sydney
Frequently Asked Questions
What is the difference between a chartered accountant and a regular accountant?
A chartered accountant (CA) has completed additional postgraduate education and professional examinations through Chartered Accountants Australia and New Zealand, beyond a standard accounting degree. CAs are held to higher professional and ethical standards, carry professional indemnity insurance, and must complete ongoing professional development. For businesses, this means your accountant has the training and oversight to handle complex tax structures, provide strategic advisory services, and represent you in dealings with the ATO. At Prime Partners, all of our senior team hold CA designations.
What should I look for when choosing a business accountant?
Look beyond basic tax compliance. The right accountant should understand your industry, offer proactive tax planning rather than just lodging returns, and communicate regularly throughout the year – not just at tax time. Key factors include: professional qualifications (CA or CPA), experience with businesses of your size and complexity, technology capability (cloud accounting platforms like Xero), advisory services such as business structuring and cash flow forecasting, and a genuine interest in your growth. A good first step is a face-to-face meeting to assess whether the relationship will be collaborative and forward-looking.
How can my business legally reduce its tax bill in Australia?
Legitimate tax minimisation starts with getting your business structure right – whether that is a company, trust, or combination – and reviewing it as your circumstances change. Beyond structure, key strategies include maximising deductible superannuation contributions, timing income and expenses across financial years, taking advantage of the instant asset write-off for eligible purchases, claiming the R&D Tax Incentive if you conduct eligible research activities, and structuring salary packaging to reduce FBT exposure. The most effective approach is working with your accountant proactively throughout the year rather than reviewing these options after 30 June.
What is the best business structure for tax purposes?
There is no single best structure – it depends on your revenue, growth plans, number of owners, asset protection needs, and succession intentions. A sole trader structure is simple but offers no asset protection and is taxed at personal rates. A company pays a flat 25% tax rate (for base rate entities) and provides limited liability, making it suitable for businesses retaining profits for growth. A trust offers flexible income distribution among beneficiaries and a 50% CGT discount on assets held over 12 months. Many established businesses use a combination – for example, a trading company owned by a discretionary trust. Getting this right early avoids costly restructuring later.
What does a virtual CFO do and does my business need one?
A virtual or outsourced CFO provides the strategic financial leadership of a full-time chief financial officer without the cost of a permanent hire. Services typically include cash flow forecasting, budgeting and variance analysis, KPI reporting, financial modelling for growth or acquisition, and board-level financial reporting. Businesses with revenue between $2 million and $20 million often benefit most – large enough to need strategic financial oversight but not yet at the scale to justify a full-time CFO salary of $200,000 or more. If you are making decisions about expansion, funding, or exit without clear financial modelling, a virtual CFO can add significant value.
Can my SMSF buy commercial property?
Yes. An SMSF can purchase commercial property – including offices, warehouses, retail premises, and rural land used for business purposes – and even lease it back to a member’s business at market rent. This is one of the most powerful SMSF strategies available, as it allows your super to fund your business premises while the rental income and capital growth accumulate in a tax-effective environment (15% tax rate, or nil in pension phase). The property must satisfy the sole purpose test, be acquired at market value, and any lease must be on arm’s-length terms. A limited recourse borrowing arrangement (LRBA) can also be used to fund the purchase.
When should a business change accountants?
Common signs include: your accountant only contacts you at tax time and does not offer proactive advice, you are not receiving regular management reporting or cash flow analysis, your business has outgrown your accountant’s expertise (for example, you now need international tax advice or SMSF services), deadlines are being missed, or you feel you are paying for compliance work without receiving strategic value. The transition process is straightforward – your new accountant handles the transfer of records and the outgoing accountant is professionally obligated to cooperate. Many businesses find that switching to a more advisory-focused firm pays for itself through better tax outcomes and financial clarity.
How do I plan an exit strategy for my business?
Start planning at least three to five years before you intend to exit. Key steps include: getting a realistic business valuation, ensuring your financial records are clean and up to date, reducing owner-dependency by building a management team, reviewing your business structure for tax-efficient sale or succession, understanding the CGT implications (including the small business CGT concessions if eligible), and identifying potential buyers or successors. Over 70% of family business transitions fail – often because planning starts too late. Your accountant should be involved early to model different exit scenarios and their after-tax outcomes, whether that is a trade sale, management buyout, or family succession.
Explore Our Services
- Business Accounting & Tax Advisory – tax returns, BAS, business structuring
- Business Advisory & Coaching – growth strategy, KPIs, succession planning
- SMSF Administration & Tax Services – establishment, compliance, investment strategy
- External Finance Team & Virtual CFO – Xero Platinum Partner, cloud migration
- R&D Tax Incentive Advisory – R&D claims, ESOP, ESIC concessions
We also have an office in Orange NSW serving the Central West region, with particular expertise in agribusiness and primary production.
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