Building & Construction

Why Keeping Your Financial Data Up to Date is Crucial for Business Success

In today’s fast-paced business environment, maintaining strong financial health is fundamental to achieving sustained growth and profitability. However, keeping financial data up to date can be challenging for many business owners who juggle numerous responsibilities each day. Yet, having real-time insights into your financial position is one of the most powerful tools to drive [...]

Why Keeping Your Financial Data Up to Date is Crucial for Business Success2024-12-13T16:57:46+10:00

Manufacturing Industry: Key Items to Never Take Your Eyes Off

Efficiency, quality, and adaptability are pivotal in the manufacturing industry. Staying competitive means never losing sight of the fundamentals. From operational efficiency to compliance, manufacturers face the constant challenge of managing costs and maximising productivity in a world of slim margins and high customer expectations.  In this article, we’ll explore the key areas that [...]

Manufacturing Industry: Key Items to Never Take Your Eyes Off2024-12-13T16:52:31+10:00

HK Explained: QBCC MFR and WIP Essentials for Construction Licensing in Queensland

For construction businesses in Queensland, meeting the Queensland Building and Construction Commission (QBCC) Minimum Financial Requirements (MFR) is crucial for licensing, financial security, and stable growth. While MFR compliance involves various metrics, one vital factor is accurate Work in Progress (WIP) calculation and management play an essential role in meeting these standards. A true [...]

HK Explained: QBCC MFR and WIP Essentials for Construction Licensing in Queensland2024-11-19T16:13:11+10:00

Budget 2024-25

On 14 May the government handed down its annual budget.  Whilst often a time that many tax and superannuation change priorities are revealed and analysed, this year nearly all of the announcements are not tax related.   Our summary of measures is in the link below and we look forward to discussing anything relevant to [...]

Budget 2024-252024-05-17T14:05:22+10:00

10 Strategies for Managing Risk in Construction and Manufacturing Businesses

In the world of business, risk and uncertainty are inevitable factors that every business leader must confront.  For the construction and manufacturing industries in Australia, these challenges can be particularly complex due to their unique characteristics. As an accounting firm specialising in business advice for privately owned businesses in construction and manufacturing, we’ve seen [...]

10 Strategies for Managing Risk in Construction and Manufacturing Businesses2023-10-20T09:57:42+10:00

Financial Reporting: Understanding Stock and Work in Progress in Construction and Manufacturing

When it comes to running a business, accurate financial reporting is important. But for construction and manufacturing companies, it's even more essential. Businesses within these industries face their own unique set of challenges, like dealing with stock and work-in-progress (WIP) for projects, which often become major headaches if you’re not on top of your [...]

Financial Reporting: Understanding Stock and Work in Progress in Construction and Manufacturing2023-07-19T14:44:59+10:00

6 Steps to Drive Profitability in the Construction Space

Construction industry businesses, this article is for you! Whether you're a master of residential or commercial projects, or specialise in plumbing, plastering or pool installations, don't miss out on these essential pointers.  One of the biggest challenges you’ll encounter as a business owner is maintaining steady profitability. It may seem daunting, but there's a [...]

6 Steps to Drive Profitability in the Construction Space2023-04-11T14:02:41+10:00

QBCC License Applications to Increase Maximum Revenue

A series of events has resulted in the unfortunate situation that any entity applying for a QBCC License or applying for an increase in their maximum revenue amount will now be required to submit General Purpose Financial Statements with their accountant-reviewed MFR Report.   This is the case regardless of turnover (so applying for a [...]

QBCC License Applications to Increase Maximum Revenue2022-09-12T14:01:03+10:00

Project Trust Accounts: Understand the New Framework

Since March 2018, project bank accounts (PBAs) have been required for certain Queensland Government projects valued between $1 million and $10 million (including GST). To simplify the regime, in 2020, the Queensland Government amended the Building Industry Fairness (Security of Payment) Act 2017 (the BIF Act).   Now, Project Trust Accounts are also [...]

Project Trust Accounts: Understand the New Framework2022-02-24T09:56:19+10:00

The JobMaker Hiring Credit

What is JobMaker? JobMaker is a credit available to eligible businesses and non-profit entities that create new jobs (not if you are merely replacing someone who left). The hiring credit is available for jobs created from 7 October 2020 until 6 October 2021 and provides: $200 per week for new employees between 16 to [...]

The JobMaker Hiring Credit2021-01-18T16:20:27+10:00
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