Accountant for Electricians: Electrical Industry Analysis
Quantum House is an accountant for electricians and electrical contractors, from sole traders to firms with several crews. In the video below, our team summarises IBISWorld’s 2024 report on electrical services in Australia. It covers how the industry has performed, the main sources of work and the pressures on contractor margins.
Tax and compliance issues for electrical contractors
Electrical work sits inside the building and construction rules, even when a business mainly does maintenance or small jobs. Consequently, several reporting obligations apply.
- Taxable payments annual report: businesses that pay contractors for building and construction services, including electrical work, generally need to lodge a TPAR by 28 August. A mixed business must lodge if this work makes up 10% or more of its income.
- Super: a subcontractor paid mainly for their labour can be eligible for super guarantee at 12%. In addition, from 1 July 2026 contributions must reach the fund within 7 business days of payday.
- Awards: employed electricians and apprentices are generally covered by the Electrical, Electronic and Communications Contracting Award.
- Tools, vans and equipment: these are major costs. Therefore, the timing of purchases and the way they are financed both affect tax and cash flow.
- Personal services income: if you work through a company but mainly sell your own labour, the personal services income rules may limit what the company can retain.
Why electricians benefit from a specialist accountant
An accountant for electricians should understand job costing, progress claims and how quickly cash leaves the business for materials. For example, a contractor can be profitable on paper and still struggle to meet payroll. Our guide to cash flow forecasting explains how to see that early.
We also compare your results with the ATO’s small business benchmarks for electrical services. These show typical costs against turnover. If your figures sit well outside the range, it is worth knowing why before the ATO asks.
How Quantum House supports electrical businesses
- Bookkeeping, BAS, payroll and TPAR lodgement through our Sydney accounting services.
- Structuring as you grow from sole trader to company, including business set-up.
- Monthly reporting and forecasting through our outsourced CFO services.
- Advice for builders and trades, set out on our construction accountants page.
If you are looking for an accountant for electricians in Sydney, contact our team.