- Accounting practices trading as ‘Success Tax Professionals’ are franchise practices belonging to the Success Tax Professionals network of accountants.
- Success Tax Professionals practices provide the full range of services to Businesses, Self Managed Superannuation Funds, and also Individuals with more complicated or involved taxation matters such as rental properties and capital gains. Services are professional practice level services.
- The Franchisor is STP Tax Agents Pty Ltd, trading as, Success Tax Professionals and is based in O’Connor, Western Australia.
- Success Tax Professionals are Registered Tax Agents and hold registration with the Tax Practitioners Board.
- With regard to our accountants and their practices, the Franchisor is responsible for determining applicant suitability, assessment of qualifications and overall compatibility for membership to the franchise. Following ‘suitability assessment’ and purchase of the franchise, members are eligible for franchise benefits related to support, marketing, training and business development. The Franchisor therefore has a vested interest in:
- The development of its franchisees (i.e. accountants and their practices).
- Quality, standards and performance in relation to client services.
- Customer satisfaction and results.
- Our accountants in the group provide their clients with value added services based on their ability to access technical resources, professional training and various franchise tools and product information. The dynamics of the franchise allow for the Franchisor to focus on support systems and to make these accessible to group members for the benefit of their practices and optimal levels of client servicing.
- The Franchisor does not provide accounting or taxation services to clients, as its core business is in the development of systems, tools, procedures, support, quality monitoring, professional training and various franchise expansion activities. Customers are able to choose a Success Tax Professionals practice for services from our web-site and can be assured that they are choosing an organisation of size with quality systems. Our practices are listed on our web-site:
- The professional development training provided by the Franchisor to its accounting members is in addition to any other formal qualifications – meaning that formal qualifications do not exempt an accountant from participation in the Success Tax Professionals ‘Professional Development Programme’. At Tax Agent level the programme introduces added flexibility, scope and options but still requires compliance. Our accountants are therefore required to commit to their learning programme to receive on-going development to keep up with change.
Clients of Success Tax Professionals benefit from the size and scope of our company, including:
- Systems, controls and checks for accuracy and efficiencies.
- The setting and monitoring of standards and compliance requirements necessary for accountants seeking membership to our group.
- The on-going training and professional development our accountants participate in, so as to provide accurate information, solutions and problem solving outcomes.
- Ability to establish a long term working relationship with their accountant.
- Clients who move location and find distance to be a problem in dealing with their previous Success Tax Professionals practice, often have the option of choosing a seamless transfer of their records to another practice within our group.
The company’s ultimate goal is to grow to 300 practices Australia-wide by December 2020.
Professional Body Memberships
Various professional accounting bodies that accountants of Success Tax Professionals may be members of include:
• CPA Australia (Certified Practising Accountants)
• ICAA (Institute of Chartered Accountants Australia), and the
• IPA (Institute of Public Accountants)
There are currently over 67 practices belonging to the Success Tax Professionals group of accountants which are owned and operated by our practice principals.
The central management (Franchisor) for the Success Tax Professionals group holds FCPA status (Fellow CPA). Fellow CPA status recognises knowledge, experience and the contribution made to the profession. To achieve this status members are required to be CPAs, have at least 15 years accounting or finance experience and to have held a position of responsibility in accounting or finance for at least five years. Achievements need to be recognised by divisional council.
Success Tax Professionals are also members of the FCA (Franchise Council of Australia).
The Importance of Learning Programmes:
Not all accountants in the tax industry continue to keep up to date with advancements, policy changes, and new products.
Reasons for this might include lack of interest or time. A primary reason however is often the cost involved in attending professional workshops and information seminars, and also the significant cost of purchasing resource material.
Training and information comes at a price and many accountants or the companies they work for are not prepared to incorporate this into their work environment as an ‘essential’ requirement. Nor do some accountants feel a need to commit sufficient time to training the staff in their practices.
Success Tax Professionals practices are different. As Success Tax Professionals has a central body responsible for areas such as training, support and information, our accountants and practices have access to extensive material and professional development. Our accountants also deal with all client matters and build equity in their own practices. This is a satisfying arrangement for our accountants and also their customers.