How Our Property Development Accountants Can Help
There are unique challenges and high financial stakes in the property development sector. Property developers require accountants who not only understand the numbers but also grasp the nuances of the industry, no matter the size of the operation. At JD Scott + Co, we offer specialist accounting services for property developers and have done so for years. This means we recognise your unique financial and business needs and we can ensure our approach is tailor-made to your business. Our strategic tax planning and comprehensive financial reporting services provide clarity and insight, helping you make confident business decisions well into the future.
When it comes to property developers, especially for small developers, the primary focus is usually on tax management and reduction. Because of this, we’ll work with you to craft tax strategies that integrate seamlessly with your business goals. This approach ensures that every financial decision is not only compliant with relevant tax laws but also minimises tax burdens, which in turn can lead to better financial outcomes for your business. In an industry where accuracy and thorough tax planning are indispensable, a personalised tax strategy isn’t just beneficial – it’s imperative.
Our Property Development Accounting Services
At JD Scott + Co, we offer tailor-made accounting services for property developers, ensuring that your projects are not only compliant but also financially secure. Take a look at our services in detail below.
Tax Minimisation & Planning: We work closely with you to develop custom tax strategies to achieve your business goals. Navigating the complexities of the Australian tax system to minimise tax burdens effectively while identifying tax minimisation opportunities specific to your property development business. We ensure you pay only what’s legally required while maximising deductions and credits.
Budgeting & Forecasting: Effective project budgeting is key to managing your finances from start to finish. We also provide financial forecasting to help you anticipate future financial scenarios, guiding your strategic decisions and ensuring the financial viability of your projects.
Property Development Cashflow Management: Our team navigates the difficulties of property development cash flow with effective strategies. We provide ongoing monitoring and adjustments to ensure your project maintains optimal financial health throughout its lifecycle.
Business Structure Accounting: We offer advice on the most effective business structures, focusing on tax efficiency and investment opportunities. Our team ensures that your property development business structure is flexible and compliant, adapting to changes in laws and business needs. This is an area that the ATO is looking at closely, so it’s important to get right from the start.
Business Advisory: Our business advisory services support the growth and strategic development of your property business. We focus on identifying and mitigating risks while seizing any fiscal opportunities, helping you to navigate the market and expand your business effectively.
Thinking of starting your own PD company? Check out our guide on Starting your Own Property Development Business in Australia
Property development has complex tax, GST and cash flow considerations that differ significantly from buy-and-hold property investment.
A specialist accountant for property developers will understand and be able to advise on the following:
- The Tax Implications of Subdividing Land
- Revenue recognition on project completion
- GST on new residential property sales
- Margin scheme eligibility
- Project feasibility analysis
- Structuring developments through companies or trusts
- Managing large funding and interest costs
GST in property development can significantly impact profitability and cash flow.
Developers must consider:
GST on the sale of new residential or commercial property
Whether the margin scheme applies
Claiming input tax credits on development costs
GST timing on progress payments
Withholding obligations on settlement
The right structure depends on the size of the project, funding arrangements, risk exposure, and long-term goals.
Common structures include:
Special purpose companies for individual projects
Unit trusts for joint venture developments
Corporate trustees for asset protection
Separate entities for landholding and development activities
Want to know the best structure for you? See more in our property development structure guide.
New to property development, that’s okay! You have to start somewhere.
Here’s our guide to getting set up properly.
Contact our property development specialist accountants today, and we’ll guide you through the setup.
