Small business tax and planning practice

Small business owners, tradies, cafes, family companies and trusts, and property investors.

Monthly or annual fees for ongoing compliance work, plus project fees for tax planning, restructures and setting up new businesses.

• Strong small business tax knowledge
• Building trust with business owners
• Managing deadlines across many clients

• TPB registration is generally needed for tax agent services, and giving broader tax advice may have extra requirements, check with the TPB
• Professional indemnity insurance and workers compensation once you hire staff (state schemes differ)
• Giving financial product advice may need an Australian financial services licence, check with ASIC before going beyond tax
• Heavy workload around lodgement deadlines
• Office lease commitments and GST registration once turnover reaches the threshold

Startup costs are typically estimated at around $10,000 to $40,000, depending on the office lease, software, insurance and registration. Costs will vary with your location and how quickly you plan to add staff.

Monthly revenue is typically estimated at around $6,000 to $30,000, depending on your client base, fees and services offered. This is revenue, not profit, and workload can peak around lodgement deadlines.

TPB registration is generally needed for tax agent services, and broader tax advice may have extra requirements, so check with the TPB. Giving financial product advice may need an AFSL, so check with ASIC. Also check professional indemnity and workers compensation insurance.