Financial Advice Reports

Retail Shop Leases Act

Leasing retail shops is a significant financial decision. In addition to the initial capital investment for either the landlord or the tenant, there are costs in operating a business of any kind. It makes good financial sense for landlords and tenants to get advice from qualified professionals about the terms and conditions of a retail shop lease.

Is your business entering into a retail lease?

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Points to consider

Commercial tenants should seek advice about the retail business they intend to operate to ensure that the intended business is viable. Leasing is a substantial commitment resulting in thousands of dollars in rent and other expenses.

There are several things Bottom Line Control accountants recommend taking into consideration when leasing a premises:

Once a lease is signed, the tenant is responsible for meeting all the costs of the lease until the lease expires.
Tenants also need to undertake market research and preliminary business planning. Assistance with business planning and research can be obtained online at smartsmallbusiness.qld.gov.au.
Tenants are required by the Act to seek both legal and financial advice before they sign a retail shop lease.
Tenants who lease less than five retail businesses in Australia must obtain a legal advice report and a financial advice report, and provide these completed reports to the landlord before entering into a retail shop lease or an assignment of a lease.
The tenant must meet with a lawyer for advice about the legal meaning and effect of certain terms and conditions of the proposed lease.
The tenant must meet with a qualified accountant for advice about the financial rights and obligations of the tenant under the lease.

The team at Bottom Line Control accountants can help with a Financial Advice Report for your business, schedule an appointment by contacting us on 5471 7077 or complete our appointment request form today.

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Bottom line Control, headed by Malcolm Chilman, have been by tax agent/accountant/book keeper for more than 10 years now, and I have nothing but praise for the efficient and cost effective way they go about their work. I have recently given them my SMSF as well and am impressed by the meticulous way he goes about the process of staying within the lines of the over-complex Superannuation law. Whether it is simple BAS bookkeeping or complex questions of tax law, Malcolm is always there to help. And if he does not know some intimate detail of our almost incomprehensible tax process, he knows where to find the answer. Every business has the occasional need for a quick answer, so one of the characteristics that I appreciate here, is Malcolm's ready availability, by phone and email.

Byron Scott

PA Apartments

Business Owner & Investor

40 Wholseley St, Woolloongabba, Qld 4102

Phone: (07) 3891 1742 | Email: info@PAapartments.com.au

Thank you for your support, and assistance over the past several years. I personally feel that from our cooperative services that Ram Automotive has been able to grow toward the sustainable company of which is today. Bottom Line Control has given myself a great understanding of the companies finances, and also through ongoing fiscal performance meetings. Now knowing what Ram Automotive can expect for the future. I look forward to an ongoing relationship with Malcolm and Bottom Line control, to secure our future within our community.

Matthew Katterns

Ram Automotive

Proprietor of Ram Automotive Coolum Beach

We changed all of our financials over to Bottom Line a few years ago and have been quite impressed with the service and advice we have received. Nothing is too much to ask of them. Thank you to Malcolm and staff for being there for us.

Wayne & Penny Rex

Rex and Turtle

Business owners and Property Developers

We switched to Bottom Line Control after realizing that our previous accountant was giving us incorrect advice and charging a premium for it. We have now been using Bottom Line Control for several years and have found Malcolm to be thorough and reasonably priced. He always finds ways to save money on our taxes. Malcolm and his staff are highly responsive and very easy to work with. We highly recommend.

Alex & Rebecca Watson

Equathon Horse Riding

PO Box 301 Noosa Heads, QLD 4567

Phone: (07) 5474 2665

Thanks Malcolm for saving me the stress of sorting through all the issues of self-employment, and the many confusing deductions and tax items associated with that. Although I was extremely late in lodging my tax return, it was not a problem for you, and you managed to get me a healthy refund when I was sure I was going to have a bill! I will certainly be using your services in the future and have already been recommending you to others.

Kim Anderson

The Anderson Outloook

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Financial Advice Reports

Retail Shop Leases Act

Is your business entering into a retail lease?

Points to consider

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Bottom Line Control Reviews

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Bottom Line Control Reviews

Byron Scott

Matthew Katterns

Wayne & Penny Rex

Alex & Rebecca Watson

Kim Anderson

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