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Small Business Accountants

Small Business Accountants: directory of firms

Small business accounting in Australia is mostly about the registrations a business picks up as it grows and the obligations attached to each one. An ABN, then GST once turnover reaches the threshold, then PAYG withholding when the first employee starts, then PAYG instalments once the ATO sees a profit, and possibly a taxable payments annual report if the business pays contractors in certain industries.

Browse small business accountants by city, and see what to check before you hire.

Find small business accountants by city

This kind of work is often limited to licensed or registered professionals. Ask for their licence or registration number before you share any details.

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An ABN is not automatic. The Australian Business Register grants one to entities carrying on or starting an enterprise in Australia, and it can review entitlement at any time and ask for evidence that the business actually commenced. Applying for an ABN, registering for GST and claiming GST credits without being entitled can lead to prosecution.

A good small business accountant works on the structure and the systems as much as the return. Sole trader or company. Quarterly or monthly activity statements. Which software, and who codes it. Whether the instalment the ATO has set matches the year the business is actually having. The annual return is the last step, and it is far cheaper when everything before it was done properly.

Choosing a structure, and changing it later

  • Sole trader: simplest to start, but the owner is personally liable and business income is taxed in the individual return.
  • Partnership: two or more people sharing income and liability, with a partnership return that distributes to the partners.
  • Company: a separate legal entity with its own tax rate, its own return, directors' duties and ASIC obligations.
  • Trust: often used for family businesses and asset holding, with distributions that must be resolved before the end of the income year.
  • Combinations: a trading company owned by a family trust is common, and adds cost as well as flexibility.
  • Changing structure later can trigger tax on the transfer of assets, which is why the first decision deserves proper advice.

Registrations in the order most businesses need them

Start with the entity itself, then the ABN. Register for GST when required, add PAYG withholding before the first pay run, and set up Single Touch Payroll enabled software at the same time rather than afterwards. Companies also need each director to hold a director identification number, applied for personally.

Keep an eye on the taxable payments annual report. Businesses paying contractors for building and construction, cleaning, courier and road freight, IT, or security, investigation or surveillance services may have to lodge one by 28 August each year. Outside building and construction, the test turns on whether payments for those services are 10 per cent or more of business income.

When GST registration becomes compulsory

Registration is required once GST turnover reaches 75,000 AUD, or 150,000 AUD for a not-for-profit organisation. Taxi, limousine and ride-sourcing drivers must register regardless of turnover. A new business that expects to reach the threshold in its first year should register from the start.

The timing rule catches people out: once you are required to register, you have 21 days to do it, and the obligation starts from when you become aware turnover will pass the threshold rather than when the money lands. Registering late means GST was still payable on sales made in the meantime, without the prices having included it.

Records the ATO expects a business to hold

Records must explain the transactions behind your tax and super position, be kept in English or in a form easily converted to English, and be retained for five years in most cases. Some run longer: fringe benefits tax records count five years from lodgement, employee super contribution records from the date of the contribution, and super fund choice records from the date of engagement or the choice.

Digital records are fine. What matters is that they are complete, unaltered and retrievable. Cloud software makes this easy, provided the subscription is in the business name and the business, not the bookkeeper, holds administrator access.

The cash flow traps in a growing business

  • Spending GST collected on sales, then finding the activity statement due at the end of the quarter.
  • PAYG instalments landing 28 days after quarter end on top of the same quarter's GST.
  • A first profitable year, where the annual tax bill and the first instalments can arrive in the same period.
  • Super treated as optional when cash is tight, which now attracts a charge that is not deductible.
  • Contractors engaged on the assumption they are not employees, without the arrangement being properly tested.
  • Owner drawings taken as though they were wages in a company, without regard to how they will be treated at year end.

Doing it yourself, a BAS agent, or a full service accountant

  • Accounting software alone suits a business with few transactions, no employees and an owner who enjoys admin.
  • A registered BAS agent handles the quarterly cycle and payroll reporting, and can lodge activity statements for a fee.
  • A registered tax agent is needed for the annual return and for anything involving structure, capital gains or the ATO.
  • Many small businesses use both: a BAS agent through the year and a tax agent at year end, working from the same file.
  • Whoever does the work, check the registration type on the TPB register against what you are actually paying them to do.

Small Business Accountants: frequently asked questions

Do I need to register for GST straight away?

Only when your GST turnover reaches 75,000 AUD, or 150,000 AUD for a not-for-profit, or immediately if you drive a taxi, limousine or rideshare. You can register voluntarily below the threshold, which lets you claim GST credits but also commits you to lodging activity statements.

Should I trade as a sole trader or set up a company?

It depends on liability, on how much profit stays in the business and on who else is involved. A company brings its own tax rate, ASIC obligations and director duties, and costs more to run. The decision is worth an hour of advice before you register anything.

Am I entitled to an ABN for a side project?

Only if you are carrying on or starting an enterprise. The Australian Business Register looks for features such as commercial activity of a reasonable size and scale, repetition and a genuine intention to profit. Hobbies do not qualify, and entitlement can be reviewed after the ABN is issued.

How much of my turnover should I put aside for tax?

There is no single figure, because it depends on structure, margin and deductions. What works is separating the money: GST collected and PAYG withheld belong to the ATO, not to the business, and a separate account for them removes most quarter-end surprises.

When is the taxable payments annual report due?

By 28 August each year, for businesses in the reporting system that pay contractors for the listed services. Your accountant or BAS agent can confirm whether the reporting test is met before the date arrives.

Sources

  1. Australian Business Register - ABN entitlement
  2. business.gov.au - Register for goods and services tax (GST)
  3. ATO - Registering for GST
  4. ATO - PAYG instalments
  5. ATO - Work out if you need to lodge a TPAR
  6. ATO - Overview of record-keeping rules for business
  7. ABRS - Director identification number

Written by the LokalMatch editorial team. Last reviewed 22 September 2026. How we write and check our guides

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What affects the fees small business accountants charge

Fees depend on the work involved and how the professional bills. We only publish fee ranges when they’re backed by real LokalMatch data or reliable sources. Until then, here’s what usually changes the fee:

  • Scope and complexity of the work
  • How the professional bills: hourly, flat fee or retainer
  • Experience and seniority of the person doing the work
  • Deadlines and how urgent the work is
  • Third-party costs such as filing, registration or government fees

How to compare small business accountants before you hire

  • Check that they are licensed or registered for this work where you live, on the regulator’s public register.
  • Look for experience with matters like yours, and ask who will actually handle your file.
  • Ask how they charge before any work starts, and get the terms in writing.
  • Compare two or three professionals before you decide.
  • Be wary of anyone who guarantees a particular outcome.

Questions to ask small business accountants before you hire

  • Are you licensed or registered for this work, and with which body?
  • Have you handled matters like mine before?
  • Who will do the work, and who will I deal with day to day?
  • How do you charge: hourly, a flat fee or a retainer?
  • What is included in your fee, and what costs extra?
  • Will you confirm the scope and fees in a written engagement letter?
  • Do you carry professional liability insurance?

Licences and registration

This kind of work is often limited to licensed or registered professionals, and the rules depend on where you are. Ask which body they’re registered with, and check their status on that body’s public register before you hire.

Guides about small business accounting

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