Start Strong
Melbourne’s Startup Accountants — Build Strong Foundations for Growth
The Challenge
The Startup Accounting Challenge
Starting and growing a business in Melbourne’s fast-moving startup scene comes with endless complexity — and accounting is often where founders feel it first. Between compliance, tax, and investor expectations, what begins as a side task can quickly become a strategic bottleneck.
At 42 Advisory, we understand that most founders don’t struggle because they lack vision — they struggle because they lack visibility. Our role is to give you the financial clarity and structure to make smarter decisions, sooner.
The challenges we help you overcome:
-
Choosing the right structure — company, trust, or hybrid, tailored for long-term goals
-
Staying compliant — BAS, payroll, and ATO deadlines without the admin stress
-
Accessing incentives — R&D tax, startup grants, and early-stage investor concessions
-
Managing cashflow — forecasting with precision so growth doesn’t outpace liquidity
-
Scaling systems — automating Xero, FYI, and reporting tools for real-time insight
With the right accounting foundation, your startup can scale confidently — with numbers that tell the same story as your ambition.
Accredited. Connected. Trusted.
Certified Melbourne Accountants Backed by Australia’s Leading Platforms
Our Approach
How 42 Advisory Helps Startups Thrive
Core Services Include:
✅ Get the Structure Right - We help you register, structure, and prepare your startup for compliance and growth from day one.
✅ KPI Reporting & Dashboards – Track metrics that matter — from MRR and churn to lead conversions and click-through rates — with visual dashboards built for decision-makers.
✅ 3-Way Forecasting & Projections – We design investor-grade forecasts covering P&L, cash flow, and balance sheet, trusted by lenders and investment banks alike.
✅ R&D Tax Incentive Support – We assist in preparing, documenting, and managing your R&D claim process — ensuring accuracy and maximising eligible returns.
✅ Compliance & Advisory – Stay on top of BAS, tax, and ASIC lodgements while we help you focus on scaling with confidence.
Founders, Clinics, and Brands Who Trust Our Numbers
What Our Clients Are Saying
Very professional, highly recommended!!!
Paul M
Extreme MMA
42 have been outstanding for our clinic. They handle our Tax, BAS, payroll, and complex medical structures with absolute precision.
Belinda C
PM of Family First Medical Centre
As an online retailer, our sales move quickly across multiple platforms. 42 Advisory built clear reporting, managed our inventory accounting
Katerina P
CEO of Watches of Mayfair
Fantastic service and such an easy experience from start to finish. My accountant made everything clear and stress-free. Highly recommend!
Maria P
Founder of MWM Pilates
Clear Pricing. Practical Advice. No Surprises.
Setup Services
Startup Setup & Structuring Services
Company Registration
We handle every detail of your company registration, ensuring compliance from the start. Our team manages ASIC registration, ABN and TFN setup, and ATO lodgements, all while tailoring your share structure to suit your founders and investors. If you would like to learn more about company structures in Australia, including how they affect tax, control, and scalability, our detailed guide explains the key considerations. Whether you’re registering your first company or restructuring an existing one, we ensure every document, registration, and system is aligned and ready for growth.
Trust Setup
Whether you need a family, unit, or discretionary trust, we establish it correctly and efficiently from the start. We handle legal documentation, trust deeds, and ATO registration, including ABN and GST setup. You’ll also receive ongoing compliance guidance to ensure your trust structure continues to deliver the right tax and asset protection outcomes as your business evolves.
Business Structure Advice
Your business structure impacts everything — from how much tax you pay to how easily you can raise capital or protect your assets. We take the time to understand your goals and advise on whether a company, trust, partnership, or hybrid model suits your needs best. Using scenario planning and real-world tax modelling, we help you make confident, informed decisions that position your startup for sustainable growth. Learn more about how to choose the right business structure for your startup.
Why Founders Choose 42 Advisory
Smart Tech. Local Expertise. Strategic Insight.
We combine Melbourne-based expertise with powerful accounting technology to help startups move faster and make smarter decisions. From KPI dashboards to 3-way forecasts, our proactive advisory model gives you the clarity to grow with confidence.
Our team doesn’t just balance books — we help you balance ambition with financial reality. With fixed fees, fast response times, and startup-focused systems, we make your numbers work harder for you.
For founders weighing pricing models, our guide on fixed-fee vs hourly accounting for startups explains how each approach affects cash flow, advisory value and long-term planning.
“We speak your language — traction, runway, and growth.”
We translate complex accounting into clear insights, so you always understand your position and your next move.
YOU MAY NEED TO KNOW
Frequently Asked Questions – Startup Accounting in Melbourne
When should a startup hire an accountant?
Ideally, before launching. An accountant helps structure the business correctly, register for GST if required, set up accounting systems, and ensure compliance from day one. Early structuring decisions impact tax efficiency, investor readiness, and scalability.
What is the best structure for a startup in Australia?
Most growth-focused startups operate through a company structure due to limited liability, investor suitability, and tax flexibility.
However, the optimal structure depends on funding plans, ownership strategy, and long-term exit goals.
Do startups need to register for GST?
Startups must register for GST if projected annual turnover exceeds $75,000. Voluntary registration may also be beneficial for cash flow if claiming GST credits on business expenses.
What tax concessions are available for startups?
Eligible startups may access:
- R&D Tax Incentive
- Early Stage Innovation Company (ESIC) concessions
- Small business tax concessions
- Instant asset write-offs
- Carry-forward tax losses
Eligibility depends on structure, activity, and growth stage.
What is the R&D Tax Incentive and does my startup qualify?
The R&D Tax Incentive provides refundable or non-refundable tax offsets for eligible innovation activities. Qualification requires systematic experimentation and technical advancement beyond current knowledge.
What is ESIC status and how can it help my startup raise capital?
ESIC (Early Stage Innovation Company) status is a tax incentive available to eligible Australian startups. If your company qualifies, investors may receive significant tax offsets and capital gains tax concessions when investing in your business.
To qualify, your startup must meet criteria around innovation, early-stage development, expenditure thresholds, and growth potential. Proper structuring, documentation, and eligibility assessment are critical. ESIC status can materially improve investor attractiveness and strengthen capital raising discussions.
Can a startup change its business structure later?
Yes, but restructuring can trigger tax implications. It is more efficient to design the right structure early rather than restructure during growth.
How can startups manage cash flow effectively?
Effective startup cash flow management includes:
- Monthly forecasting
- Burn rate tracking
- Expense control systems
- Revenue timing strategy
- Scenario modelling
Cash flow mismanagement is one of the leading causes of startup failure.