Specialised Tax, Accounting, and Advisory Services Tailored for Your Construction Business.
Tax Planning
Structure Planning
Asset Protection
Succession Planning
The construction industry is known for its high stakes and complex financial demands. One of the primary challenges for construction businesses is the need for significant initial investment. Builders often have to spend substantial amounts on project fees, materials, and labour before they can start billing clients, leading to cash flow challenges. Moreover, the industry carries inherent risks, including potential lawsuits if construction standards are not met, making asset protection a critical concern. Additionally, securing home warranty insurance can be difficult, especially for businesses without extensive building experience, which can limit both their building capacity and income potential.
Construction businesses also face a myriad of accounting and finance challenges, such as accurate project costing, managing subcontractor payments, navigating tax obligations, and maintaining compliance with industry regulations. These issues, if not managed properly, can significantly impact profitability and long-term success.
Investax understands the unique challenges faced by construction businesses and offers specialized solutions to help them navigate these complexities. We provide comprehensive support in managing initial investments, securing cash flow, protecting assets, ensuring accurate financial reporting, and obtaining necessary insurance. Our goal is to ensure that your construction business is well-positioned for growth and long-term success.
How Investax Can Help
Initial Investment and Cash Flow Management
Construction businesses often face significant initial investment requirements, needing to spend on project fees, materials, and labour before receiving payments from clients. This can create cash flow challenges and strain financial resources.
Investax provides cash flow management strategies to help construction businesses manage their finances effectively, ensuring that initial investments are properly planned, and that cash flow is maintained throughout the project lifecycle. We also assist in securing financing options to bridge cash flow gaps.
Asset Protection
Builders face substantial risks of litigation if they fail to meet construction standards, making asset protection a critical concern. Without proper asset protection, personal and business assets could be at risk in the event of a lawsuit.
Investax offers comprehensive asset protection strategies designed specifically for the construction industry. We help structure your assets to minimize exposure to legal risks, ensuring that your business and personal wealth are safeguarded against potential claims.
Home Warranty Insurance and Experience
Securing home warranty insurance is crucial for construction businesses, but it can be challenging, especially for those without extensive building experience. This limitation can cap the building capacity and income potential of the business.
Investax assists construction businesses in navigating the requirements for home warranty insurance, providing guidance on how to build the necessary experience and credentials. We also help structure your business to maximize your building capacity and income potential within the insurance limits.
Project Costing and Budgeting
Accurate project costing and budgeting are critical for maintaining profitability in construction. Underestimating costs or misallocating resources can lead to significant financial losses.
Investax helps construction businesses develop detailed project budgets, ensuring that all costs are accounted for and that projects are financially viable. We also provide ongoing financial monitoring to keep projects on track.
Subcontractor Payments and Management
Managing payments to subcontractors and suppliers is a complex task, especially when cash flow is tight. Delays or errors in payments can strain relationships and disrupt project timelines.
Investax offers comprehensive subcontractor management services, ensuring that payments are made accurately and on time. We help streamline payment processes and maintain strong relationships with key partners.
Tax Compliance and Planning
Construction businesses face complex tax obligations, including GST, payroll tax, and income tax. Navigating these requirements can be challenging, particularly with fluctuating income and project-based work.
Investax provides expert tax planning and compliance services tailored to the construction industry. We ensure that your business meets all tax obligations while identifying opportunities to minimize tax liabilities.
Single Touch Payroll (STP) Processing
STP requires all businesses to report employee payroll information, including salaries, wages, PAYG withholding, and superannuation, directly to the ATO. Ensuring compliance with STP requirements is crucial to avoid penalties.
Investax offers complete STP processing services, ensuring that your payroll data is reported accurately and on time to the ATO. We also provide advice on managing STP compliance efficiently within your business operations.
Financial Reporting and Compliance
Accurate financial reporting is essential for meeting regulatory requirements and securing financing. Construction businesses need to maintain detailed records to support financial statements and audits.
Investax ensures that your financial reporting is accurate, compliant, and timely. We help prepare detailed financial statements, conduct regular audits, and provide insights into your financial performance to support decision-making.
Cash Flow Forecasting and Capital Management
Construction projects often involve long timelines and substantial capital outlays. Managing cash flow and capital reserves is critical to ensuring project continuity and business sustainability.
Investax provides cash flow forecasting and capital management services, helping you plan for future cash needs and manage your capital effectively. We assist in securing lines of credit and other financing to ensure that your projects proceed without financial disruption.
The right advice and accounting partner can transform your business's future. Your path to greater financial success and business growth could be just one call away—and since it’s free, your only investment is a few minutes of your time.