Specialist accountants for travel agents
The travel industry has been in the throes of massive change over the last few years. There has been much disruption in the way people plan holidays, and customization is the buzzword these days. People look for holidays that are minutely customized for them – right from the location, stay, food, style of travel and even unique curated experiences. There is also an increasing group of independent, yet demanding clients who demand the best deal on everything, not to mention many who can also plan their own holiday right down to the T, giving competition to what you would earlier offer. With all of this happening, it can get rather challenging to stay on top of accounting and compliance requirements for your own travel business.Here is where we can come in.
We understand your world
We have an in-house specialised team of accountants who are experienced in the travel and tourism domain, and who cater specifically to travel agentsacross Melbourne. Apart from accounting expertise, we keep our fingers on the pulse of what is happening, giving us a distinctive advantage over regular accountancy firms. We understand the challenges of working long hours and working through the weekends as well to create memorable holidays for clients. Our accountants are also aware about the risks and opportunities in this field, whichcan help travel agents like you to increase your profits and reduce your tax liabilities, while maintaining all the necessary compliances.
Expert accounting for travel professionals
Apart from bookkeeping and taxation, we can also help you with regulatory compliance issues with respect to BAS, GST, PAYG and superannuation. But we are more than just an accounting partner. We also play the role of an advisory partner for our travel industry clients, when it comes to specific nuances of this industry, like:
- Support for travel start-ups, including business registration and business plan
- Selecting a suitable business structure, that takes care of Asset Protection and long-term Capital Gains tax issues
- Managing cash flow to stay profitable in challenging times
- International tax compliances
- Acquisition and sale of businesses
- Accounting and invoicing software selection and training
- Automating billing for similar itineraries
- Vendor receipts and payments for every tour package sold
- Preparation of financial statements and income tax returns
- Business strategy planning and succession guidance
- Marketing and wealth creation guidance and a whole lot more!
What makes Think Accountants ideal for travel agents?
Given our specialist experience in this niche industry, we have mentored many travel agents to not only set up, but also grow their business and increase their bottom line with the right business and tax planning. Our sector knowledge has helped our clients focus on what they do best – create memorable holiday experiences for their own clients!
If you have any questions, or would like to consult with our specialist accountants for travel agents, feel free to give us a call or connect over email.
