Accounting, Tax and Financial Services for Barristers

Wilson Pateras are Australia’s go-to expert accounting and financial advisory for barristers. With deep insights, specific to the accounting and wealth-building concerns of the legal community, Wilson Pateras creates clear road-maps to help barristers achieve their financial goals.

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Get Financial Advice Throughout Your Career As a Barrister

As a barrister, there are number of accounting, tax, insurance and financial considerations you need to deal with. From establishing your business structure as Sole Trader to tax planning, financial reporting and cash flow management, there are many regulations and rules you need to comply with. Wilson Pateras understands the pressures barristers face and can provide you with, long-term financial and accounting advice whilst you can focus on running your practice.

Our accountants and financial advisors in Richmond can:

  • Prepare and lodge your tax returns and BAS
  • Strategise to minimise the amount of tax you pay
  • Manage your expenses and income
  • Recommend appropriate investment and tax structures
  • Ensure you are properly protected with appropriate insurance
  • Advice in relation to super contributions
  • Maximise saving opportunities

Questions? Book a complimentary meeting with us to get started!

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Key Accounting & Financial Steps For Barristers

Wilson Pateras specialise in Accounting and Financial services for barristers. We will help you transition and setup your practice and become your long-term financial support.

Setup your business and structures

Now that you must operate as a Sole Trader, you need to setup an ABN and register for GST.   You will need to lodge your quarterly BAS statements with the ATO ensuring to include the income you have received each quarter on a cash receipts basis.

Manage your business records

Using an innovative cloud accounting system helps manage your bookkeeping, superannuation payments and financial records, giving you a dedicated focus to all of your business financials.

Retirement Planning

Prepare for your tax liabilities

In the first year you will receive gross income, which means you will need to calculate your likely tax liabilities and put this aside. Timely tax preparation will ensure you make the correct distributions annually and remain compliant.

Plan and manage your cash flow

Cash flow planning is critical to ensure that you have set aside enough cash to pay your tax.  A common strategy is to leave cash in an offset account if you have a home loan to reduce the yearly interest.

Ensure you and your family are financially secure

You should consider risk insurances such as income protection and life insurance, particularly if you have young children or starting a family, to ensure you and your family are financially secure.

Setup investment strategies to build your wealth

Build financial security through investing in asset classes that suit your risk profile. Setup the appropriate investment and tax structures to help with tax minimisation and build your wealth for the future.

Get a Complimentary Consultation

You can choose either a phone consultation or face-to-face meeting in our office in Richmond.

We are offering a complimentary financial strategy session for legal professionals . During this meeting, you have the chance to ask any questions you may have regarding your financial goals. Secure your no-obligation consultation today by simply filling out the form and one of our specialists will get back to you.

Your personal details are safe with us and won't be shared with third parties.

Accountants and Financial Advisors for Lawyers and Barristers

Mark Forte

Principal

Nick Street

Principal

Lasadi Felsinger

Financial Advisor

Amy Buglass

Senior Manager

Maree Pateras

General Legal Counsel

Our Office

Richmond Office

40 River Boulevard
Richmond
VIC 3121

Phone: (03) 8419 9800
Fax: (03) 8419 9888

BEFORE YOU GO…

Free Guide for Lawyers: Avoid Costly Mistakes and Get Maximum Return on Your Finances

As specialised accountants for lawyers, we compiled the 5 most common mistakes legal professionals make. Where can we send your free copy?