Professional services firms exist in many different industries. They include lawyers, advertising professionals, architects,
accountants, financial advisers, engineers, and consultants, among others. Basically, they can be any
organisation or profession that offers customised, knowledge-based services to clients.
Effective at 30th of June 2023, our sample PCG 2021/4 report uses Dr. Nicole Smart as our example.
The ATO guidance (PCG 2021/4) totally changes the way that professional firm profits can be allocated (or split) among a family group from 1 July 2022 onwards.
Smart Business Solutions are skilled in understanding the intricacies in professional firm accounting including debt reduction, further investments using trust structures, investment companies and self-managed superannuation funds to protect investment from your industry specific risk.