Home-Based tax and accounts practice

Sole traders, tradies, small companies, landlords and families who want their tax done properly.

Fixed fees for tax returns and annual accounts, plus monthly or quarterly fees for ongoing bookkeeping, BAS and payroll work.

• Accounting and tax knowledge
• Attention to detail
• Clear communication with non-experts
• Meeting deadlines

• You generally need to be registered with the Tax Practitioners Board to charge a fee for tax agent services, so check what applies to you
• Professional indemnity insurance, and ongoing education and conduct obligations
• Heavy workload around tax time and BAS deadlines, so plan your capacity
• Protecting client data and privacy, including secure storage and sharing of documents
• Check whether your council requires approval for a home-based business
• Giving investment or financial product advice may need a separate licence

Estimates suggest startup costs typically around $2,000 to $8,000, depending on your software, insurance and how you set up your home office. Get quotes for your own needs before you commit.

Estimated monthly revenue is typically around $2,000 to $10,000, depending on your client numbers and the services you offer. Workload peaks around tax time and BAS deadlines, so plan your capacity.

Things to check: you generally need to be registered with the Tax Practitioners Board to charge a fee for tax agent services. Also check professional indemnity insurance, ongoing education and conduct obligations, and whether investment advice needs a separate licence.