Accounting for Gold Coast Plumbers

Our team of chartered accountants have over one hundred and fifty years of combined experience helping Gold Coast and Brisbane plumbers achieve financial success, no matter their team or project size. 

But, more than this, we strive in all that we do to tailor our financial advice and bookkeeping to your plumbing business specifically, so that you can receive the best possible financial advice for your situation and personal goals.

So, why do plumbers need a specialised plumber accountant?

Ensure Profitable Projects

The nature of plumbing for small business owners on the Gold Coast and Brisbane means that quotes are usually provided on a project by project basis. A lot of our clients who are plumbers or tradie business owners, before coming to us, told us that they were mostly quoting based on “gut feel”.

This meant they had no system in place for accurately predicting how long a job would take them or how much materials would cost (including inflation). This meant that seemingly profitable quotes or “easy” jobs often lost the builder his money due to rising materials cost and unexpected delays on the project.

On the other hand, accountants who specialise in tax advice, growth strategies, and business structuring for Gold Coast and Brisbane plumbers can help you engineer a quoting and financial system that ensures your projects stay profitable and keeps your business growing without resentment or regret at taking on a seemingly “easy” job.

Business Structuring For Upgrading Your Business

Almost all Gold Coast & Brisbane plumbers begin their business as a sole trader, and many of them are profitable during this period. However, most plumbers reach the point of success where they consider hiring team members and other plumbers to expand their business. This step is called going from a sole trading business to a company, which may sound simple in practice, but can be extremely complex and fraught with financial risks. 

Our chartered accountants who specialise in the plumbing industry help by ensuring your business is structured in such a way as to absorb any financial risks without putting you in danger. Moreover, we can assist with the proper and legal ATO documentation and business structuring that is required to upgrade you from a sole trader to a company that is able to dominate the local market.

Industry Knowledge: Apprentice Subsidies & Payrolls

Taking on an apprentice is almost like a rite of passage for many Gold Coast & Brisbane plumbers. It’s also a fantastic way to expand your business and take on more jobs without the risk of hiring a whole new team.

But what many plumbers don’t realise is the ATO and QLD government will gladly pay you subsidies to take on an apprentice of your own and give you more financial breathing room. Usually, this is in the form of the QLD government paying you a percentage (5%-10%) of your apprentice’s salary. Even better, the QLD government can pay up to 50% of your apprentice’s wages for an 8-week training period. 

These plumbing-based apprenticeship subsidies are typically complex to navigate and constantly changing every quarter. Our experienced accountants help you to apply for and acquire tailored subsidies for business and reach your financial goals.