Accounting and advisory services you can count on.
Accounting and advisory services you can count on.
No matter your game, our core services bring confidence and clarity to the financial aspects of your business. We offer stand-alone and packaged services for businesses ranging in size from independent contractors to established business groups with multiple entities.
We quote and charge our accounting packages on a monthly fixed fee basis, tailored to deliver what you need rather than billing by the hour. This encourages efficient and effective work while providing clarity on costs. It also means we don’t charge for calling - unlimited phone contact is always included.
For those operating a Trade or Construction Business, or Professional Services Firm - see our dedicated pages for further ways we can assist you.
Our
Core
Services.
Bookkeeping & Back Office
Tax Compliance & Planning
Structuring
Other Services
bookkeeping & back office
Too many businesses struggle with the basics - messy bookkeeping, a confused chart of accounts, GST errors, missed superannuation payments, or financial reports that don’t reflect reality. It’s hard to run a solid operation when the numbers aren’t reliable.
We work with you to automate and organise your bookkeeping, creating structure around your back office so you can focus on the work, not the paperwork.
Understanding GST and BAS (Part 1)
Understanding GST and BAS (Part 2)
What we offer:
Fortnightly bookkeeping
Payroll & Superannuation
Invoicing & bill management
Document filing & paperless office
Batch payments
Xero-connected apps
a few examples:
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At month-end, your bank balance in Xero should match your actual bank account. This is your bank reconciliation.
One of the most common issues we see is a Xero bank balance that doesn’t line up with reality. There are a few reasons this can happen, but the most frequent culprit is double-marking customer payments.
It usually happens like this:
A customer payment hits your bank account, so you immediately “add a payment” to the invoice in Xero. A couple of days later, the bank feed updates and the same payment appears in the reconcile screen. Instead of matching it to the invoice, it’s accidentally recorded again as “receive money.”This is easy to do when customers pay multiple invoices in one batch or pay a single invoice in several instalments.
The effect is twofold:
Your bank balance in Xero becomes inaccurate.
Your income is overstated – meaning when BAS time comes around, you’re paying GST twice on the same income.
Another common cause of GST overpayment arises when new vehicles or equipment are purchased. For example, a flatbed truck is purchased in September for $70,000 plus GST (total $77,000). You pay a 20% deposit and finance the remaining 80%. Often, only the deposit and the ongoing loan repayments are recorded in the books, while the balance of the purchase price (and the associated $7,000 of GST) is missed entirely. If the books aren’t reviewed until year-end, it can be 12 to 18 months before that GST overpayment is identified and corrected.
It can also swing the other way. Business owners sometimes incorrectly claim GST on amounts that are GST-free, such as loan repayments, private drawings, or employee wages. This results in underpaying GST on BAS lodgement and often leads to a repayment later, along with unnecessary stress and clean-up work. We prefer to get it right the first time and avoid the hassle altogether.
Easy errors to make, and easy errors to avoid with the right help.
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For trade businesses, knowing your true gross margin is essential. Materials, labour, and subcontractors make up the bulk of job costs – but only if they’re coded correctly. When the Chart of Accounts isn’t set up with the right structure, those direct costs get mixed in with overheads, and the numbers stop telling the truth.
The issue often shows up like this:
Materials are coded to general expense accounts, subcontractor payments get lumped together, and payroll costs aren’t separated between on-the-tools labour and admin staff. The profit & loss still adds up, but it becomes impossible to see what each job actually earns.Owners look at rising sales and assume the business is profitable, when in reality the margins are shrinking – they just can’t see it.
The impact is significant:
Gross margin becomes guesswork instead of a measurable number.
Jobs can’t be compared or back-costed accurately.
Pricing decisions are made without real cost visibility.
A clear, well-structured Chart of Accounts resets all of this. It puts every cost in the right place so you can see what each job earns and where pricing or job productivity needs attention.
See our Trades & Construction Businesses page for more on profitability and margins.
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Many businesses struggle with receipts and supplier invoices scattered across the office, Utes, and inboxes – and when documents aren’t captured as they come in, bookkeeping becomes harder and job costs become less reliable. Fuel receipts go missing and supplier invoices get buried in email threads, leaving gaps when it’s time to reconcile.
This creates a few predictable problems:
Costs end up in the wrong place or are missed entirely.
GST errors become common
Owners get stuck digging for paperwork months after the job is finished.
Tools like the Xero mobile app or Hubdoc make this far easier. Snap a receipt on the spot, forward invoices straight from email, and every document is automatically filed and attached to the right transaction.
A small habit – but one that keeps your books clean, your costs accurate, and stops your accountant asking you for a receipt from a year ago.
tax compliance & planning
We offer a full range taxation services for clients from sole traders to multi-entity business groups utilising various company and trust structures.
Armed with accurate financials, we can work proactively throughout the year and prior to 30 June to legally minimise tax and other costs. This may involve discussions around distributing or reinvesting profits, business structures, or reviewing expensive debt, to name a few.
On the technical side of things, tax law is constantly shifting, as are ATO attitudes. We can help navigate common problem areas such as Personal Services Income (PSI), risk frameworks for Professional Services Firms, private company loans (known as Division 7A), and the Small Business CGT Concessions, to name a few.
Just as important as doing the work is ensuring that you are informed of likely tax outcomes well in advance, allowing time to plan ahead and avoiding bill shock.
We can help with:
Financial statements
Income tax returns
Monthly & quarterly BAS / IAS
Payroll reporting
Superannuation
Workers’ comp declarations
Taxable payments reporting (TPAR)
Fringe benefits tax (FBT) returns
ATO reviews and payment arrangements
Related minutes and resolutions
Tax planning
Capital Gains Tax (CGT)
a few examples:
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Many business owners lodge BAS after BAS without ever really understanding what’s inside it. A BAS isn’t just about GST – it brings together several different obligations, each affecting your cashflow in different ways. Once you understand the components, the numbers start to make a lot more sense.
The core items are:
GST – The difference between GST you’ve collected on sales and GST you’ve paid on expenses. This is your net GST payable or refundable.
PAYG Withholding (PAYGW) – Tax withheld from employee wages. This is money you’ve held on behalf of the ATO and now need to pass on.
Fuel Tax Credits (FTC) – Applicable if you use eligible fuel for off-road work or specific equipment. This credit reduces the amount you owe.
PAYG Instalments (PAYGI) – Prepaid income tax based on your expected profit. This has nothing to do with GST and often explains why BAS payments are higher than expected.
The key is understanding that GST is a flow-through item, while PAYGW and PAYGI are tax obligations, each with their own timing. When you can see these parts clearly, your quarterly results stop feeling random – and your BAS becomes something you understand, not just a bill you pay.
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Vehicle expenses are often one of the largest costs for trade and construction businesses, especially when you own multiple utes, trucks, or heavy machinery. It’s common for these costs to get lumped together, but keeping them organised is crucial for both compliance and smart tax management.
Expenses should be tracked in separate categories, such as:
Insurance
Registration
Fuel
Repairs & maintenance
Lease or loan repayments
Where possible, it’s also important to allocate expenses per vehicle. This helps ensure you meet compliance obligations, such as:
Lodging FBT returns correctly
Calculating employee reimbursements
Maintaining Declarations of no-private use
Additionally, different vehicles may have different tax treatment. For example, Fuel Tax Credits (FTC) may be claimable for trucks or excavators but not for utes. Keeping detailed, accurate records makes it easier to claim the right entitlements while staying fully compliant with ATO rules.
By separating and tracking vehicle expenses carefully, you not only stay compliant but also gain a clear picture of the true cost of your fleet, helping you make smarter business decisions.
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Tax planning is the process of reviewing your financial position throughout the year and prior to 30 June and taking proactive steps to legally optimise the amount of tax you pay. Rather than waiting until after year-end to see what the tax bill looks like, tax planning gives you clarity, control, and the opportunity to act while it still counts.
It typically involves forecasting your taxable income, reviewing expected profits, estimating your tax payable, and then identifying specific steps that can reduce your final liability – or at the very least, remove any surprises.
Common Pre-30 June Tax Planning Actions
Some examples of practical actions that can be taken prior to 30 June include:
Prepaying staff superannuation so it’s deductible this financial year (must clear the fund before 30 June).
Making personal superannuation contributions and lodging a notice of intent to claim a deduction.
Prepaying eligible expenses such as interest, rent, or insurance where appropriate.
Bringing forward necessary business purchases or repairs where cash flow allows.
Reviewing asset purchases to ensure correct treatment under temporary or instant write-off rules (as applicable).
Writing off obsolete stock or bad debts before year-end.
Other Key Areas of Tax Planning
Beyond the common pre-30 June items, broader planning often includes:
Partner or director salaries where a partnership or company structure allows for flexibility.
Planning trust distributions and preparing trustee resolutions correctly and on time.
Reviewing private company loans to ensure they comply with the rules and avoid unexpected tax.
Estimating tax bills early so there is no bill shock and cash flow can be managed.
Proposing dividends or distributions where these help manage retained earnings, franking balances, or overall group tax outcomes.
Example: Tax planning for an Accrual-Based Builder
For both Professional Services and Construction Businesses, one of the most effective tax planning levers is the correct treatment of Work in Progress (WIP) – especially where clients pay progress claims earlier than the underlying work has been completed.
For example, a builder receives a large progress payment just before 30 June. Cash has come in, but the job is only partially completed. Under accrual accounting, the builder is only required to recognise income to the extent work has actually been performed, not simply because the payment was received.
Effective tax planning means reviewing the job in detail:
Confirming the actual percentage of completion at 30 June.
Comparing this to the progress claim already invoiced and paid.
Identifying where the cash received is ahead of the work performed.
Adjusting revenue so that only the completed portion is recognised in taxable income.
For example, if a $200,000 progress payment has been received but only 40% of that stage is complete, then only $80,000 should be recognised as income. The remaining $120,000 represents work not yet performed and can be treated as unearned income / liability until the job progresses. This timing difference alone can materially reduce taxable profit for the year.
This same methodology applies to services firms such as architects and engineering firms.
Click through for more information on how we can help your Professional Services or Construction Business.
structuring
When we talk about structuring, there’s plenty to consider - cost and complexity, asset protection, tax minimisation, and estate / succession planning.
With these factors in mind, we help to determine the most effective ways to run your business or to invest and grow your wealth.
We achieve this through the use of private company and trust structures (there are many different types of trusts - discretionary family trusts, unit trusts, superannuation, etc.) where appropriate.
Structuring also extends beyond just your legal setup to your internal organisation structure, and to your financing. The way debt is structured can have a significant impact on the overall and tax outcomes of a project. For example a ‘refinance & cash-out’ strategy prior to an investment purchase can allow borrowing up to 100%+costs of a new purchase, converting non-deductible debt into deductible debt.
Some further examples are outlined below.
Common scenarios:
Starting a new business and deciding on an operating structure
Purchasing an existing business or restructuring due to substantial growth
Structuring investments after receiving an inheritance or a change in family dynamics
Purchasing the property your business operates out of
Estate planning with testamentary trusts
Growing a property portfolio or doing a property development
Debt recycling or working with our Finance Brokerage partners
a few examples:
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One of the most common questions we’re asked is whether a business should operate as a sole trader or through a company. There’s no universal ‘right’ answer – but there is usually a right answer for your circumstances.
When a business is small, relatively low-risk, and doesn’t require significant capital investment, a sole trader structure can be simple and effective. As a rule of thumb, where profits are around $135,000 or lower, there is often limited tax savings in moving straight to a company once personal tax offsets and additional costs are considered.
Take a web design consultant operating as a sole trader and earning $120,000 in net profit. That income is taxed at individual marginal rates, with minimal setup and running costs. There are no ASIC fees, no separate company tax return, and compliance is generally simpler and cheaper. For a low-risk business with limited capital requirements and straightforward operations, this structure can be entirely appropriate, particularly in the early stages.
That said, the trade-off is unlimited personal liability, and limited ability to retain profits inside the business at lower tax rates for future growth or investment.
Now contrast this with a higher-risk professional or trade business (for example, a construction or engineering business) generating $250,000 in annual profit, requiring ongoing investment in plant and equipment, and intending to retain and reinvest profits. In this scenario, a Pty Ltd company structure is often more suitable.
From a tax perspective, most small companies qualify as base rate entities and pay 25% company tax on profits. This allows profits to be retained inside the company at a lower initial tax rate, rather than being pushed out to the owner and taxed at higher personal marginal rates. In a $250,000 profit scenario, this can materially improve cash available for reinvestment into equipment, staff, systems, and growth.
There are, however, higher running costs to factor in. Companies attract ASIC annual review fees, require separate company tax returns, and typically involve higher accounting and compliance costs.
Beyond tax, a company provides meaningful risk separation, particularly important in industries with contractual risk, warranties, or potential claims. The company is a separate legal entity, helping to limit personal exposure when structured and operated correctly.
There is also a commercial and branding consideration. Operating as a Pty Ltd can enhance credibility with clients, suppliers, lenders, and insurers – particularly in larger contracts, government work, or professional engagements where counterparties expect to deal with an incorporated entity.
A further technical consideration is Division 7A (loans from private companies). This is where funds are withdrawn from the company into your personal accounts.
For company profits withdrawn under a properly documented loan arrangement to fund investments (such as a property portfolio) Division 7A can be a useful planning tool. Where profits are simply drawn out to fund lifestyle spending, it is far less helpful and often creates tax problems if not handled correctly*
Finally, Personal Services Income (PSI) rules remain critical. If income is still primarily generated from personal effort rather than a genuine business structure, many of the tax advantages of a company can be neutralised. Structure selection must therefore consider not just profit levels, but risk profile, capital needs, reinvestment plans, and how income is actually earned.
The right structure isn’t about chasing tax savings in isolation - it’s about choosing the framework that supports growth, manages risk, and builds long-term wealth effectively.
Worked Example – $250k Profit: Sole Trader vs Company
Assume the same engineering or construction business generates $250,000 in net profit for the year. The business is a genuine operating business (not PSI), carries commercial risk, and intends to reinvest surplus profits to fund growth in year two.
Scenario 1 – Operating as a Sole Trader
All $250,000 is assessed to the owner personally.
At current individual tax rates (including Medicare levy):
Personal income tax: $84,000
After-tax cash available:$166,000
All profits are taxed immediately at marginal rates, regardless of whether the cash is needed personally or intended for reinvestment in the business. Any income over $190k is therefore taxed at the highest rate, currently 47% (almost half!).
Scenario 2 – Operating Through a Company
The same business operates through a Pty Ltd company.
The company pays the owner a $135,000 salary (deductible to the company).
The remaining $115,000 is retained in the company and taxed at the 25% company tax rate.
Retained profits are used in year two to fund marketing, wages, equipment, and growth.
Tax outcomes:
Tax on $135,000 salary (personal): $34,000
Company tax on retained $115,000: $28,750 (25%)
Total tax paid across both levels: $63,000
After-tax position:
$101,000 received personally after tax
$86,000 retained inside the company for reinvestment
Total after-tax benefit: $187,000
Comparing the Outcomes
Sole trader total tax: $84,000
Company structure total tax: $63,000
Approximate tax deferral / saving in year one: $21,000
Again, this isn’t about permanently avoiding tax. It’s about control and timing. The company structure allows profits not required for personal living costs to be taxed at a lower rate and reinvested back into the business. If and when those profits are later distributed, further tax may apply – but by then the business may be larger, stronger, and producing higher returns.
This is why companies tend to work best for businesses with higher risk, reinvestment needs, and growth ambitions, not for funding lifestyle.
Over time, these benefits compound. When retained profits are eventually paid out as dividends, the attached franking credits can significantly reduce (or eliminate) additional personal tax. When this approach is applied consistently over several years, the ability to retain, reinvest, and redeploy capital can materially accelerate business growth and personal wealth creation. In more advanced structures, surplus profits can also be distributed to an investment vehicle, such as a bucket company, to fund long-term investments like property or share portfolios in a controlled and tax-effective way. The key point is optionality: the right structure gives you choices as the business grows.
* We’ve mentioned a few complex topics here – Personal Services Income (PSI), private company loans (Division 7A), franking credits, and bucket companies to name a few. Get in touch to better understand these topics.
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As businesses mature, profits often move well beyond what can be efficiently extracted and taxed in an individual’s name. This is where discretionary trust structures become extremely powerful. Their key advantage is flexibility: the ability to direct profits each year to the most appropriate beneficiary depending on tax position, reinvestment needs, and broader wealth strategy.
Once profits exceed a few hundred thousand dollars, this flexibility can translate into significant tax savings, stronger asset protection, and faster wealth accumulation outside the operating business.
Worked Example: Discretionary Trust & Bucket Company
Assume the same engineering / construction business in year five:
Net business profit: $500,000
Owner salary: $150,000 (deductible to the business)
Remaining profit: $350,000
Business operates through a company, owned by a Discretionary Family Trust
The trust distributes that $350k profit as follows:
$150,000 to spouse
$200,000 to a bucket company (30% tax rate)
How the Distributions Work
Spouse distribution
The discretionary trust distributes $150,000 to the spouse, who may be on a lower marginal tax rate than the business owner. This immediately reduces the family’s overall tax burden by spreading income across multiple taxpayers, rather than stacking everything onto one individual at top marginal rates.Bucket company distribution
The remaining $200,000 is distributed to a bucket company and taxed at 30%, resulting in:Company tax: $60,000
After-tax funds available for investment: $140,000
These funds can then be invested into:
Property portfolios
Share investments
Private credit
Precious metals
Other long-term investment strategies
All without needing to push the income into personal tax brackets unnecessarily.
Why This Is So Effective at Higher Profit Levels
At this scale, the objective moves from just ‘getting money out’ of the business to creating meaningful family wealth.
Discretionary trusts allow you to:
Adjust distributions each year as circumstances change
Smooth income between family members over time
Cap tax on surplus profits via bucket companies
Build investment wealth outside the operating business
Improve asset protection by separating trading risk from accumulated capital
This type of structure becomes particularly powerful once profits exceed $300k–$400k per year, where personal tax rates alone start to materially slow wealth creation.
We don’t recommend trust and bucket company strategies in isolation. They’re most effective when implemented as part of a broader, long-term plan that considers tax, asset protection, succession planning and wealth creation goals.
Done properly, the business becomes the engine, and the structure ensures the value it creates is protected, taxed efficiently, and put to work well beyond the day-to-day operations.
Again, there are some complex topics mentioned here. Give us a call for more information.
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Debt recycling is a strategy used to gradually convert non-deductible home loan debt into deductible investment debt over time. It’s most effective for someone who:
Owns a home with a principal place of residence (PPR) mortgage
Earns a high income and receives lump-sum cash (e.g., annual bonuses) or
Is a business owner who can pay out excess profits as dividends
Wants to accelerate the repayment of their home loan while simultaneously building an investment portfolio
The core mechanics look like this:
A lump sum (bonus, dividend) is paid directly into the home loan, reducing non-deductible mortgage principal.
The same amount is then redrawn or split off into a new loan account, which is used exclusively to invest (shares, managed funds, or on-lending to a family trust).
The original home loan decreases over time, while the investment loan increases – but this new debt is deductible because it funds income-producing investments. Importantly, you aren’t increasing overall borrowings, just converting non-deductible debt to deductible debt.
The taxpayer keeps minimum P&I repayments on the home loan unchanged
Investment returns (dividends, distributions, growth) build wealth over time, while the tax deduction on investment loan interest improves after-tax outcomes.
As an example, imagine a taxpayer with a $600k home mortgage at 5% interest. Each year they receive a $50k bonus or business dividend, and they use this to debt recycle – paying the funds into the home loan and then redrawing or splitting off the same amount to invest in dividend-paying ASX shares.
Over five years they recycle a total of $250k ($50k × 5 years). Because this occurs progressively, the amount of deductible investment debt increases each year until it reaches the full $250k in Year 5. At that point, the annual interest on that portion is roughly $12.5k (5%), and (unlike the original mortgage interest) it is tax-deductible because the borrowing now relates to income-producing investments. This deductible interest can be offset against their investment income.
If the taxpayer is on the top marginal rate of 47%, the tax benefit on that $12.5k of deductible interest is approximately $5,875. Compound this over many years and the sum is significant.
In practice, many clients would also use a trust structure for the investment side, but the above illustrates the core concept of how debt recycling works.
This is general information only and does not constitute personal or financial advice.
other Services
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Individual Tax Returns from $400+GST.
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Whether you’re a sole trader starting out or are looking to restructure an existing business, we can assist with:
Registrations (TFN, ABN, GST, PAYGW, business name, etc)
Company / trust establishment
Bookkeeping and employee setup
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Tax isn’t all we think about here. With experience in mortgage & finance broking, we like to ask (and answer!) questions such as:
• When was the last time you reviewed your home loan? Is it still competitive, or are you giving the banks more than they deserve.
• Thinking about house hunting? Home loan approval can be a real challenge for business owners and contractors - let’s plan ahead.
• Personal, business, or tax debt? Let’s review.
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Whether you’re just starting out or your current accounting software is giving you a headache, we can get you set up and ready to go on Xero - our (and soon to be your) preferred accounting software.
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We can act as your registered office and attend to your annual ASIC requirements and changes to director & shareholder details as required by law.