PROPERTY & CONSTRUCTION
Experience tells you what to do; confidence allows you to do it.
Who We Are
Market conditions have improved dramatically in the construction industry as consumer and business confidence increase and interest rates remain low. This has led to increased investment into the new housing market, driving growth in new dwelling construction and increased business confidence and profitability across the board has led to an upswing in commercial building activity.
The current low interest rates have brought on increased affordability for new property construction and this has led to capital expenditure on residential property solidly increasing for the past two years. Another key driver for residential construction is population and steady growth in population absorbs existing stock and puts upward pressure on the construction of new dwellings.
It is possible for businesses in the construction industry to experience rapid growth as have some of our clients. However rapid growth comes with inherent risk and many challenges. MMT Accountant + Advisers have been there and we will hold your hand to ensure you achieve your goals.
As with all businesses it is important to ensure they are structured correctly from the start and spending some time on this upfront will ensure that your personal wealth is protected if things go pear shaped. It also ensures that you have arranged your affairs in the most tax efficient way.
Another popular area we have seen increase over the last few years due to these drivers are Mum and Dad developers and home improvers. Many do not receive the correct advice upfront and end up paying for it when they are forced to forego the Capital Gains 50% Discount being deemed a property developer and are taxed on the full profit.
They take a further hit when they should have been registered for GST and they lose 10% of their profit margin of property to Goods and Services Tax – Ouch!
We are specialists in providing the correct advice on property transactions and business start-ups.
We can assist by:
- Structuring your business for asset protection and tax efficiency
- Preparing detailed transaction advice
- Assist in applying the GST margin scheme
- Preparing detailed project and business plans to assist financing
- Assistance with reporting for Home Warranty Insurance
- Effective monitoring of margins to assist in growth
- Audit and Assurance
- Preparation of Financial Reports and Tax Returns
- Preparation of taxable payments annual report for subcontractors
- Assistance with compliance of workers compensation requirements