A commercial lease can be one of the largest obligations a small business may undertake. As such the Queensland Government has put in place safeguards to protect and inform tenants during the leasing process. This includes the requirement for the tenant to obtain both a Financial Advice Report from a qualified accountant and a Legal Advice Report from a qualified lawyer.

Financial Advice Report

A Financial Advice Report is a declaration prepared by a qualified accountant and signed by both the accountant and the tenant. The declaration confirms that the accountant has reviewed the lease and explained the financial obligations of the lease to the tenant.

Process

We will review the lease and supporting documentation, then meet with you to explain the financial provisions and obligations under the lease. The key areas to be reviewed and explained are as follows:

• Rent and outgoings
• Rent reviews
• Terms of the lease
• Appropriate accounting systems
• Budgeting
• Cash flow forecasting
• Taxation requirements

Once all these key areas have been covered, both we and you sign the Financial Advice Report to confirm the necessary advice has been provided and understood. You then give the report to the landlord or their solicitor.

Getting Started

If you are entering into a new commercial lease as a tenant, fill in the form below and we'll get back to you with a proposal for your Financial Advice Report.