Construction Industry — Sydney, NSW
Accounting for construction businesses
We work with builders, developers and subcontractors to manage compliance obligations, improve project-level visibility and protect personal assets.
TPAR lodgement & reconciliation
WIP and project reporting
Business structure advice
Asset protection strategies
The gap most accountants leave
Standard accounting misses what makes construction different.
Construction income is project-based, compliance obligations are more complex than most industries, and cash flow depends on progress claims, retentions and subcontractor timing. A generalist firm applying standard bookkeeping to a construction business will miss these nuances — creating tax exposure, ATO penalties and cash shortfalls that are avoidable with the right specialist.
TPAR obligationsConstruction businesses that pay contractors must lodge a Taxable Payments Annual Report with the ATO each year. Missed or incorrect lodgements attract penalties.
Progress claim cash flowRevenue timing in construction rarely matches cost timing. Without project-level cash flow modelling, shortfalls arrive without warning.
Business structureMost sole traders in construction carry full personal liability. The right structure depends on income, assets and project risk profile.
Personal asset exposureAn incorrectly structured business leaves personal property and savings exposed to project disputes and liability claims.
Who we work with
Sole-trader tradies through to multi-project developers
We work with construction businesses at every stage of growth.
Builders & Developers
Residential and commercial builders, and property developers managing project pipelines, subcontractor engagements and WIP reporting.
Subcontractors & Tradies
Electricians, plumbers, carpenters, concreters and all trades — sole trader or running a team — with TPAR, BAS and payroll compliance.
Growing Construction Businesses
Established operators scaling to multi-project management who need better structure, cash flow visibility and tax efficiency.
Services
Accounting designed for how construction businesses operate
Each service addresses a specific financial or compliance requirement.
Bookkeeping
Project-based records aligned with progress claims, subcontractor payments and retention schedules.
Compatible with Xero and MYOB. Structured for project-level reporting.
Business structure advice
Advice on the right operating structure based on your income, personal assets and project risk. Sole trader, company or trust — each with different liability and tax implications.
Business consulting
Cash flow modelling, project margin analysis and forward planning to give you clear visibility at any point in the project cycle.
Tax accounting
Income tax, GST, FBT, payroll tax and BAS preparation. Includes construction-specific deductions: equipment, vehicles, depreciation on plant. TPAR lodgement and reconciliation included.
TPAR managed as part of compliance — not an add-on.
Financial accounting & WIP reporting
WIP accounting, project profitability analysis and financial statements. Accurate margin data at project level and total business level.
WIP is a common gap in standard bookkeeping software outputs.
Asset protection
Structural advice to separate personal wealth from business risk. Most relevant as income and personal assets grow, but worth addressing early.
Tailored to your specific situation.
Technical obligations
Where construction accounting differs from standard practice
Each area requires specific treatment that a generalist firm may not apply correctly.
TPAR
Taxable Payments Annual Report
Mandatory for construction businesses paying contractors. Due 28 August each year. Requires contractor ABN verification and payment reconciliation.
WIP
Work In Progress Reporting
WIP accounting recognises revenue at project-completion percentage rather than cash receipt. Affects both tax position and understanding of actual project profitability.
BAS / GST
BAS Preparation
Construction GST intersects with progress claim timing, subcontractor GST registration status and potential margin scheme. Incorrect treatment is a common audit trigger.
STRUCTURE
Business Structure
Determines how personal assets are protected when liability events occur, and how income is taxed as the business grows. Both need review as circumstances change.
Sydney CBDLevel 45, 680 George St
Why Diagnostic Accounting
We work with construction businesses every day. That context changes the advice.
Diagnostic Accounting focuses on businesses where the financial and compliance picture is more complex than a standard return. Construction is central to our work.
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Construction industry knowledge
We understand progress claims, retentions, WIP, TPAR and subcontractor payroll. You don’t need to explain how your industry works.
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Asset protection as a priority
We treat structure and asset protection as part of every engagement. For construction businesses, this distinction matters.
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Clear, specific advice
We translate financial data into practical recommendations specific to your situation, not a generic industry template.
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Sydney CBD office
Level 45, 680 George Street. Available in person, phone or video.
First meeting
A structured assessment — not a general conversation.
The first meeting covers your current structure, compliance position and cash flow. You leave with a clear picture of where the gaps are and what should be addressed first.
- Current business structure and whether it fits your circumstances
- TPAR and BAS compliance — are your obligations being met?
- Tax deductions — are you capturing all legitimate construction claims?
- Personal asset exposure — what does your current structure leave at risk?
- Cash flow and project visibility — what does the data show?
- We give you an honest assessment with no obligation to proceed.
What clients say
From the people we work with
★★★★★
“Cong has been a game changer in what he has achieved in our property portfolio. Very pleased with the quick service to all our tax needs. Highly recommend and trust his advice. You get what you pay for.”
★★★★★
“Cong is knowledgeable and very pleasant to deal with. He certainly answered all my questions and provided superb service. Highly recommended!”
★★★★★
“Cong has been absolutely fantastic, very skilled in his field. Highly recommend!”
Common questions
Questions from construction business owners
Construction has compliance obligations that don’t apply to most other businesses — TPAR, WIP accounting, retention receivables and project-based cash flow. A generalist firm will typically miss these, creating tax exposure and ATO risk. A specialist starts with the right framework.
A Taxable Payments Annual Report is required if your construction business pays contractors for services. It must be lodged with the ATO by 28 August each year. We manage TPAR lodgement and reconciliation as part of our compliance service.
There is no universal answer. The right structure depends on your income, personal assets, how you engage workers and your growth plans. Construction is a high-liability industry, so structure and asset protection need to be considered together.
Cash flow in construction is driven by progress claim timing, retentions and subcontractor payment cycles. We model cash flow against your project schedule so you can plan around BAS obligations, tax payments and major purchases without being caught short.
Tools and equipment, vehicles, protective clothing, training, depreciation on plant and machinery, and home office costs where applicable. The specifics depend on your structure and how you operate.
Asset protection starts with business structure. A sole trader arrangement exposes personal assets directly to business claims. The right structure depends on what you own personally, how much risk your work carries, and your longer-term plans.
Both. We work with sole-trader tradies through to established building companies and developers. Our advice is calibrated to your current stage.
Level 45, 680 George St, Sydney NSW 2000. We work with construction businesses across Greater Sydney and accommodate phone and video meetings.
Get in touch
Speak with a specialist accountant for construction businesses.
Call us, email us or complete the enquiry form below. We’ll give you a clear picture of where your business stands.
