Professional Services
Accountant for Consultants and Professional Services Firms in Sydney
Business structure, tax planning, contractor management and BAS — handled by an advisory-led firm that understands professional services.
Professional services firms — consultants, lawyers, financial advisers, engineers, architects, and other service businesses — face specific accounting challenges around business structure, personal services income rules, and tax efficiency. ANH Accounting works with professional services practices across Sydney.
Who we help in professional services
Solo consultants and contractors
PSI assessments, structure design, GST and tax planning to protect take-home income.
Real estate agents
Commission income, vehicle and marketing claims, trust account awareness and GST.
Engineers, lawyers and advisers
Partnership and company structures, practice accounts and succession planning.
The accounting challenges professional services face
We have seen these issues repeatedly — and know exactly how to resolve them.
Personal services income rules
The PSI rules can deny deductions and attribute income to the individual rather than the company or trust. We assess whether your income qualifies as PSI, whether the results test is met, and structure your arrangements to be both tax-effective and defensible.
Contractor vs employee classification
Professional services firms often engage contractors. Misclassifying employees as contractors creates significant back-liability for super, PAYG, and potentially payroll tax. We review your contractor arrangements and document them correctly.
Business structure for tax efficiency
Operating as a sole trader at a marginal tax rate of 47% versus a company at 25% or a trust that distributes income creates large differences in annual tax. The right structure depends on your PSI status, family situation, and risk profile.
Trust account obligations (legal)
Legal practitioners have specific trust account obligations under state law. We ensure trust account reconciliations meet the requirements of the Legal Profession Act and integrate correctly with your practice accounting.
Free 30-minute strategy session
Get clear advice for your professional services business
- A registered tax agent reviews your situation
- You leave with at least one practical next step
- No obligation, and we reply within 24 hours
What we do for professional services
- Business structure advice (company, trust, partnership)
- PSI assessment and planning
- Annual tax returns
- BAS / IAS preparation & lodgment
- Xero bookkeeping
- Payroll & contractor management
- Tax planning and minimisation
- ATO correspondence
What you can expect
Business structure optimised for your income level and risk profile
Contractor arrangements documented and compliant
Every legitimate deduction captured
Tax position reviewed and planned before year end
Why professional services choose ANH Accounting
Start with a free 30-minute session
We review your situation, identify savings opportunities, and outline exactly what we can do for your professional services business — no charge, no obligation.
After hours & weekend appointments available
Rated 5.0 on Google from 36 reviews
What clients say about working with ANH Accounting
Khaled was incredibly professional and prompt in assisting us with our ASIC paperwork. His efficiency and attention to detail made the process seamless. This is the kind of exceptional service everyone desires. Thank you, ANH Accounting, and a special thanks to Khaled!
I recently had the pleasure of working with ANH, and I can confidently say it was a fantastic experience! The quality of service was outstanding, with attention to detail and a commitment to excellence evident in every interaction. I appreciated their transparency throughout the process, making it easy to stay informed and involved.
Khaled was my accountant, very professional and gets the job done quickly. 5 Stars all day.
Common questions from professional services
What business structure is best for a consulting firm?
There is no single best structure. A sole trader is simple but exposes all income to the marginal personal rate. A company provides the 25% corporate tax rate but has distribution limitations. A discretionary trust provides income splitting flexibility but cannot retain earnings at a low rate. Most consulting businesses at a profit of over $100,000 benefit from either a company or trust. We model the numbers for your specific situation.
What is personal services income, and does the results test apply to me?
Personal services income (PSI) is income mainly earned for your personal skills or effort. If more than half of it comes from your skills, you must pass the results test or another PSI test to be treated as running a personal services business. If you fail, you cannot split that income through a company or trust. We assess your contracts and tell you where you stand.
Can a consultant split income through a trust or company?
Sometimes. If your income is PSI and you do not pass the tests, income splitting is restricted, whereas a genuine business with employees and multiple clients has more flexibility. The ATO scrutinises these arrangements, so we design a structure that stands up to review.
When must a consultant register for GST?
Registration is required once your GST turnover reaches $75,000, but you can register earlier. Many consultants register voluntarily to claim GST credits on costs. We advise on the right time and how it affects your pricing.
What can a lawyer, engineer or agent deduct?
Typical deductions include practising certificates, registrations, CPD, professional indemnity insurance, memberships, tools and work-related travel, where they relate to earning income and are documented. We tailor deductions to your profession.
How are employee share options taxed?
Employee share schemes generally trigger tax at the time you receive discounted shares or when options are exercised, unless a concession applies. The rules are complex and timing matters. We review your plan documents and model the tax before you act.
Related accounting specialisations
General information only, last reviewed October 2026. Tax rules and thresholds change, so confirm your situation with ANH Accounting (Registered Tax Agent RN 26258346) before acting.
Ready to get your accounting handled properly?
Book a free 30-minute session with ANH Accounting. We'll review your current situation, find opportunities, and tell you exactly what we can do for your professional services business.
Registered Tax Agent RN 26258346 · IPA · IFA · CPA · CA · Xero Certified · Est. 2018