CGH Accounting offers comprehensive accounting services tailored specifically for businesses in the building and construction industry. Whether you run a small custom home builder operation or a large construction company, our accountants for construction, builders and tradies have the expertise to assist you in growing and succeeding.
Our services include:
- Profit and Loss and Balance Sheet Reporting: We will provide accurate and detailed reports on your business’s financial performance, allowing you to make informed decisions.
- Preparation and Lodgement of Income Tax Returns: Our team will handle all aspects of your income tax returns, ensuring compliance with tax regulations and maximising your deductions.
- Preparation and Lodgement of Business Activity Statements (BAS), Instalment Activity Statements (IAS), PAYG Withholding Reports, and Superannuation Reporting Obligations: We will take care of all your reporting obligations, saving you time and ensuring accuracy.
- Tax Planning: We will work closely with you to develop effective tax strategies that minimise your tax liability and maximise your financial benefits.
- General Business and Taxation Advice: Our experienced professionals will provide you with expert advice on various business and taxation matters, helping you navigate the complexities of the industry.
Running a building business is no small operation, whether you operate as a custom home builder or have a number homes in the pipeline, this is a multi-tasking operation. Beyond the physical demands, you must juggle planning, scheduling, and financial acumen to handle cash flow, apprentices, and sub-contractors.
The grueling hours, travel, and regulatory hurdles compound the challenges. It’s no wonder that builders and tradespeople can fall behind on their bookkeeping and administrative tasks. While GST, BAS, superannuation and tax payments loom as significant financial responsibilities for self-employed builders, many inadvertently overpay taxes and face penalties due to non-compliance.
Make no mistake, having an accountant who understands the mechanics of the building industry can mean the difference between just surviving and potentially thriving.
Over many years of working closely with small business owners, Chris Hunter and his team of financial experts and chartered professional accountants have guided countless builders and contractors in the construction industry through every phase of their entrepreneurial journey – from plans to lock up and eventual sale.
Comprehensive Service And Advice
Our firm prides itself on offering a comprehensive “spread” of online accounting, accounting, tax, and business growth services tailored to the construction and building industry. As a result, we’ve cultivated a substantial clientele of builders, carpenters, engineers, plumbers, electricians, brickies and more. This wealth of experience has transformed the building and construction sector into a specialized focus within our accounting practice.
Building a strong, stable business journey resembles constructing a house—solid foundations are essential. In the business context, these foundations encompass the right tax structure, suitable accounting software, adequate insurance coverage, and a strategic marketing plan and a website to display your business and services offered.
Business Structures
Your choice of business structure is crucial, with options ranging from sole trader and partnership to company and trust. As you decide on the most fitting structure, always keep the long-term perspective in mind. Australian tax laws are intricate, and altering your business structure down the line could trigger a costly capital gains tax event.
By choosing CGH Accounting, you can focus on running your business while our bookkeeping for construction industry services competently look after your taxation needs for running a profitable business.
When providing advice on business structures, we carefully consider several factors:
- Income Tax Minimization
- Maximizing Asset Protection
- Admission of New Business Partners or Investors
- Compliance with Industry Legal Requirements
- Risk Profile of the Industry
- Future Entitlement to Discount Capital Gains Tax Concessions
As a result, the business structure often becomes a compromise based on the relative importance of these issues. We look after residential construction accounting as well as commercial construction accounting.
Accounting Software
Another crucial aspect of your business foundation is your choice of accounting software. Poor record-keeping remains a significant cause of business failure.
Having up-to-date and accurate financial records enables informed decision-making. Unfortunately, some business owners end up with what we refer to as “computerized shoebox” records—inefficient and frustrating—which contradicts our mission of streamlining bookkeeping and GST compliance to save you time and costs.
By choosing CGH Accounting’s tax accountant for tradies and construction, you can focus on running your business while we manage all your accounting and taxation needs for your builders tax return.
Our Clients
Our clients range from Ballarat, Daylesford, Creswick, Ballan, Buninyong, Melton, Bacchus Marsh, Werribee, Anglesea, Hoppers Crossing to Point Cook, Torquay, Geelong, Victoria, South Australia, Western Australia and Queensland utilising the ease of our tax agent online services. If you are looking for knowledgeable accountants for builders who can help you, give us a call. We are only too happy to chat.
Our Values
Our mission is to conduct all business with clients – both individuals and businesses – with courtesy, respect, acumen, skill, and discretion.
We value honest communication, thoroughness, and an old-fashioned, strong work ethic.
From simple tax advice to complex company consultations, CGH Accounting Services handles all matters with the same, consistent application of proficiency and experience – and an undertaking to achieve the best possible results for our clients. That’s our promise.