MSI member Thomas Davis & Co Chartered Accountants (Sydney) recently assisted data technology company Supermetrics with the expansion of their business to Australia, and the key considerations around structure and local registrations.
Client's background
Supermetrics' mission is to make data analysis and integration simpler, more productive and more connected. Serving 750,000 users worldwide and headquartered in Finland with offices in Atlanta USA, Dublin Ireland, Vilnius Lithuania and Singapore, the company is rapidly expanding internationally.
In mid-2022, MSI member Thomas Davis & Co Chartered Accountants (Sydney) was contacted by Greenstep (the MSI member in Finland), to arrange a meeting to discuss Supermetric's expansion of their business to Australia, and the key considerations around structure and local registrations.
Through MSI Global Alliance it was seamless to find a local partner in a new country. We have been very happy with the cooperation with Thomas Davis – they have been able to support us in all our needs starting from setting up an entity to weekly and monthly ongoing tasks, such as payroll and tax compliance.
How did MSI Global Alliance provide the solution?
A video meeting with Greenstep, the CFO and Financial Controller took place, which enabled MSI member Thomas Davis & Co Chartered Accountants to set out the options available and processes surrounding incorporation, taxation, employment, and general operations in Australia.
As Thomas Davis & Co had significant experience in all these areas, the firm were able to focus the leadership team on the key decision drivers.
Thomas Davis & Co assisted the Supermetrics with structural advice and incorporation of an Australian subsidiary, assistance with appropriate identifications for the foreign holding company and Foreign Director.
It also provided advice and assistance with Australian taxation registrations (Income Tax, Goods and Services Tax and tax withholding for local employees), as well as advice concerning local superannuation rules (employee pensions).
Thomas Davis & Co continues to provide ongoing advice regarding local operations, payroll and transfer pricing considerations for Supermetrics.
What was the outcome?
Thomas Davis & Co was able to complete the identification, incorporation and tax registrations for the client in a timely and cost-effective manner several months ahead of their initial expected schedule.
The firm's team has built a solid, trustworthy relationship and hopes to continue to assist the client for many years to come.
