Overview
Raleigh Finlayson, Managing and Executive Director of Genesis Minerals Limited, is a valued client of the Abbotts Group. We came highly recommended through word of mouth for our ability to proactively and expertly help our clients to achieve their financial goals and empower their success. Raleigh switched to the Abbotts Group for our specialised financial expertise and because we were committed to providing him with a solution to his complex affairs in a proactive and timely manner.
Due to complexity, we met with Raleigh to forecast his tax obligations and assist him with understanding and implementing strategies to ease his taxation liability and manage cashflow obligations. Outside of our consultations, we continue to stay in touch with Raleigh on an ad-hoc basis throughout the year, as we strive to always provide a highly professional and personalised service to our clients.
The Challenge
The biggest challenge that Raleigh faced, and that his previous accountants were not able to successfully help him overcome, related to executive remuneration and managing the associated tax, particularly the timing of payments. Raleigh knew that taxation laws were complex, technical and often difficult to understand, so it was important for us to assure him that our industry knowledge and proven experience working through similar situations would give him the best financial outcome.
The Solution
As an individual with a high net worth and the head of a billion-dollar company, Raleigh’s unique scenario requires a tailored approach. Our team provides a range of strategic planning and taxation services to assist Raleigh and position him toward long-term taxation efficiencies.
Going over each transaction with a fine-tooth comb is cumbersome and often takes substantial time to complete. These transactions generally come with a large tax liability, however, taking the time to check over each one ensures that Raleigh pays the appropriate amount of tax as required by law. Our team of accountants have the collective know-how to ensure that he meets all legal tax obligations that are designed to withstand potential ATO audit risk. We pride ourselves on knowing that the services we provide for our clients meet all accounting and legislative requirements.
The Outcome
To this day, we have a successful ongoing relationship with Raleigh. We continue to enable him to be highly efficient in his personal taxation affairs, protect his wealth and plan for his future.
