• Unit 25, 42 Bundall Road, Bundall QLD 4217
  • | Mon to Fri 8:30am to 5:00pm
  • hello@elev8ba.com.au
  • 0425 609 720

Frequently Asked Questions

We’ve compiled answers to the most common questions about our services, processes, and approach. This section is designed to help you better understand how Elev8 Business Advisory & Tax can support your business.

Frequently Asked Questions

Working With Elev8

How do I get started?

Book a free strategy call using the link on our website, email us at hello@elev8ba.com.au, or call us directly on 0425 609 720. We will discuss your business, your goals, and your current challenges — with no obligation.

Yes. We offer a free strategy call to understand your situation and how we can help. There is no obligation, and it is the best way to work out whether we are the right fit for your business.

Look for someone who understands your industry, communicates clearly, and actively helps you improve profitability, structure, and decision-making — not just someone who lodges compliance work once a year. Ask how often they provide proactive advice, how they measure business performance, and how they explain financial results in plain language.

Our focus is on forward-looking advice, not just historical compliance. We translate financial data into clear, practical insights so business owners can make informed decisions with confidence. We also work within specific industries, which means we understand the challenges you face — not just the tax obligations.

Yes. This is one of the most common reasons clients come to us. If your business has grown and your current accountant is still only providing year-end compliance work, we can step in with more structured advisory support, better reporting, and proactive planning.

Yes. You will have direct access to the accountant managing your work. We do not pass clients through layers of staff.

We use email and scheduled check-ins for routine matters. More complex advisory discussions are handled in dedicated meetings — by video or in person — when the situation warrants it.

Business Advisory

Do you provide business advice or just tax and compliance work?

Both — but advisory is a core part of what we do, not an afterthought. We help business owners understand their financial performance, identify opportunities to improve profitability, review their structure, and plan for growth.

Yes. A key part of our approach is translating financial data into clear, practical insights so business owners understand what is happening in their business and can make confident decisions. We focus on what the numbers mean for your next decision, not just what happened last quarter.

Yes. We assist with initial structuring decisions and with restructuring existing arrangements — whether the driver is tax efficiency, asset protection, growth planning, or a combination of all three.

If you want clarity around your numbers, profitability, or growth direction — yes. An adviser helps turn financial data into decisions. The cost of poor decisions or the wrong structure typically far exceeds the cost of good advice.

Taxation & Accounting

What services do you offer?

We provide tax compliance, business accounting, business advisory, SMSF support, and business structuring for individuals, SMEs, and growing businesses.

A BAS is a form submitted to the ATO to report and pay GST, PAYG withholding, and other tax obligations for your business. The frequency of lodgement — monthly, quarterly, or annually — depends on your business size and GST registration.

Yes. We manage preparation and lodgement to ensure your obligations are met accurately and on time.

Deadlines vary depending on your structure — individual, partnership, trust, or company — and whether you engage a registered tax agent. As a registered agent, we have access to extended lodgement deadlines that are not available to self-lodgers. We will advise you on the specific deadlines that apply to your situation.

Yes. We assist clients with catch-up lodgements, ATO compliance matters, and where necessary, negotiating payment arrangements or penalty remissions. Getting up to date is almost always better than continuing to fall further behind.

Yes. While our primary focus is business clients, we assist with individual tax returns where appropriate — particularly for business owners, investors, and clients with more complex personal tax situations.

QBCC MFR Reporting & Accounting

What is QBCC MFR reporting?

The Queensland Building and Construction Commission (QBCC) requires most licence holders to demonstrate they meet Minimum Financial Requirements (MFR). This involves annual reporting of financial information to confirm your business meets the net tangible asset and current ratio thresholds applicable to your licence category.

Most QBCC licence holders have annual reporting obligations, though requirements vary by licence category and annual turnover. Some categories require reporting within four months of financial year end. If you hold a QBCC licence and are unsure of your obligations, we can assess your requirements and manage the process.

Failing to meet MFR thresholds can result in a licence suspension or reduction in your Maximum Revenue, which limits the value of work you can contract. Identifying a shortfall early — before lodgement — allows time to take corrective action. We prepare MFR reporting and flag any issues well in advance.

Yes. We prepare the required financial statements and MFR reporting for licence holders across all relevant categories.

Self-Managed Superannuation Fund (SMSF)

What is a Self-Managed Super Fund (SMSF)?

An SMSF is a superannuation fund you control directly. Rather than investing through a retail or industry super fund, you and your fellow trustees choose and manage the investments — within the rules set by the ATO and superannuation legislation.

In a standard fund, a fund manager makes investment decisions on your behalf. In an SMSF, you control the investment strategy directly. This gives you greater flexibility and control, but also means you carry the responsibility for ensuring the fund remains compliant.

Trustees are responsible for maintaining the fund's investment strategy, keeping accurate records, lodging an annual SMSF tax return, and arranging an independent audit each year. The ATO takes SMSF compliance seriously — penalties can apply for breaches, even unintentional ones.

We assist with SMSF establishment, ongoing accounting and administration, tax return lodgement, ATO compliance and coordination of the annual independent audit.

Fees & Engagement

How do your fees work?

Fees depend on the scope and complexity of your requirements. We discuss fees transparently before any work begins so there are no surprises. For most ongoing services we use fixed-fee arrangements.

Yes. Where possible we use fixed-fee pricing so you know exactly what to expect. For advisory work that varies in scope, we agree on the engagement terms upfront.

The best starting point is a strategy call. Once we understand your business and what you need, we can provide a clear outline of what your engagement would involve and what it would cost.

Still have questions?

Not everything fits neatly into an FAQ. If you need clarity on your specific situation, we will walk you through it properly.

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