Nick is a Consultant in Nexia Edwards Marshall’s Business Consulting and Taxation divisions.
Nick provides taxation, accounting and business services to clients ranging from individuals to ASX-listed corporations.
His areas of speciality include capital gains tax (including the small business CGT concessions), deceased estates and small business entity concessions.
Nick is a long-standing contributor to the Australian accounting profession through his involvement with The Tax Institute, both locally and nationally.
Nick has extensive experience in helping small and medium size businesses maximise their potential and value – through management accounting, budgeting and benchmarking and by attending board and management meetings. His expertise helps clients maximise their return from the small business CGT concession.
He also guides clients through the process of preparing businesses for sale, and passing on family businesses to the next generation.
Nick has been a prominent contributor to The Tax Institute. He was chair of the SA Education Committee in 2014, and has served as a member of the National Convention Organising Committee and the SA Technical Committee.
He has made numerous presentations for The Tax Institute on topics including personal services income, employee/contractors and structuring.
A Bachelor of Economics graduate from the University of Adelaide, Nick is a Fellow of Chartered Accountants Australia and New Zealand, a Chartered Tax Adviser with The Tax Institute and a Registered Tax Agent.
Nick is especially dedicated to helping clients identify their long-term business goals, then developing a plan to achieve these goals. He firmly believes this can be done only by spending time with clients and working hand in hand with them.
Help a large business client prepare to sell a component of the business.
Nick determined which assets were to be sold and how they would be most tax-effectively segregated from the remaining assets. Then he examined the potential options for the sale and took part in discussions with the purchaser to reach an agreement on sale methodology. Finally, he liaised with other professionals, such as lawyers and conveyancers, in implementing the sale plan.
Assist a large family group to simplify its structure and reduce the number of entities.
After Nick confirmed the entity ownership within the group and the relevant tax cost bases of shareholdings, he determined the potential tax implications of liquidating the various entities. A plan was then devised to allow for the gradual, structured and systematic winding up of the entities over an agreed timeframe. The plan took into account the proposed changes in tax rates and projected taxable position of the ultimate shareholders to ensure that any tax liability was minimised.
A not-for-profit organisation asked for assistance with its reporting to ensure it was kept informed about its financial position.
Nick helped the organisation prepare a detailed budget for all reporting lines, then incorporated that budget into its finance system. He subsequently extracted the required information each month, reporting back to the Board on its financial position in relation to the budget, and highlighting areas requiring further analysis.
Help a significant professional practice review its finance function and recommend areas for improvement.
Nexia Edwards Marshall’s in-house HR expertise was used to review the client’s HR position and prepare a detailed report of suggested improvements. With this in mind, Nick reviewed the accounting policies and procedures and provided a list of recommendations to help streamline various roles and improve their efficiency. Finally, ongoing reviews were undertaken to continually refine and improve the finance function.