Sunshine Coast Region, Queensland
Accountant in Alexandra Headland
Contracting through your own company, and renting out the apartment you moved out of
Company setup, personal services income, capital gains and individual returns for Alexandra Headland professionals and apartment owners, from a CPA practice.
Alexandra Headland sits between Maroochydore's CBD and Mooloolaba, on the rocky headland between the Maroochy and Mooloolah river estuaries. It was known as Potts Point until 1901, when it was renamed in honour of Queen Alexandra. In the 2021 Census, 53.5% of its occupied homes were flats or apartments, Professionals made up 25.0% of employed residents and Managers 15.1%.
From Potts Point to apartments
The headland's history and its 2021 Census.
William Pettigrew bought the land in 1864 at the first land sale in the Maroochy District, and Thomas O'Connor bought it in 1903 before it was subdivided and sold in August 1915. The Alexandra Residential Hotel, a temperance hostel, opened on 31 December 1928 as the first fully integrated resort complex on the Maroochy coast. Its site is now the Alexandra Park Conference Centre, and the surf club is at 167 Alexandra Parade.
The 2021 Census counted 4,235 residents, up from 3,958 in 2016, with a median age of 47 and a median weekly household income of $1,682. Separate houses made up 35.6% of occupied homes, against 53.5% for flats and apartments. Tenure split three ways: 37.5% rented, 33.3% owned outright and 26.4% owned with a mortgage. Of the 2,506 private dwellings, 470 were unoccupied on Census night, and 17.3% of employed residents worked at home.
Professionals and owners: three rules to check
Contracting through a company
Why it happens
A consultant, engineer, IT specialist or health professional leaves employment and invoices a former employer or a few clients through a company or trust.
Why it matters
If the income is mainly a reward for your own skills and effort, the personal services income rules may apply, and the company's income is then taxed as yours. You pass the results test if at least 75% of your PSI meets its conditions, including being paid to produce a result. For the other tests, if one client and its associates provide 80% or more of your PSI, you can't self-assess and the rules apply unless the Commissioner makes a determination. Working through one agency, you will not meet the 80% rule.
How we help
We map out how different options such as sole trader, partnership, company, or trust would apply to your situation, including setup, ongoing costs, and the way profit flows to owners.
Setting the company up properly
Why it happens
A new company needs registrations, a bank account and a way to pay its director.
Why it matters
Decisions made at setup, about who owns the shares and how the director is paid, carry through every later return.
How we help
That includes registrations, governance documents, and a simple plan for ongoing compliance. We also review structures as your business changes, helping you adjust in a way that supports growth and manages risk.
Renting out the apartment you used to live in
Why it happens
An owner moves to a house elsewhere on the Coast and keeps the Alexandra Headland apartment as a rental.
Why it matters
The ATO's 6-year rule lets you keep treating a former home as your main residence for up to 6 years while it is rented, and indefinitely if it is left vacant. Each absence gets its own 6 years. Rent it for longer than 6 years in one absence and the period after that is subject to CGT. You make the choice in the tax return for the year you sign the sale contract, and a home rented out before you ever lived in it does not qualify.
How we help
We also keep an eye on how decisions made this year can affect future years. Keep records of the date you moved out and every period the apartment was rented or vacant.
Frequently asked questions
Do the PSI rules apply to my consulting company?
They may, if most of the company's income is a reward for your personal skills or effort. You are outside them if you pass the results test for at least 75% of that income, or meet one of the other tests without one client providing 80% or more of it.
Can I rent out my Alexandra Headland apartment and keep the main residence exemption?
Yes, for up to 6 years in each absence, if it was your main residence before you rented it. You make the choice when you sell.
What if I rent it out for longer than 6 years?
The period after the 6 years is subject to capital gains tax, and you report a capital gain or loss for that part.
Can you set up a company for me?
Yes. Once a direction is chosen, we handle the steps to implement it properly. That includes registrations, governance documents, and a simple plan for ongoing compliance.
Where to next
Have a question?
Check your structure
You receive a defined scope, transparent pricing and a delivery timetable before work begins.
Lomandra Accounting is a CPA Practice, registered with the Tax Practitioners Board and an SMSF Specialist. Emma, the Director, is a Certified Practicing Accountant (CPA) with extensive experience in commercial business management, and specialises in Self-Managed Super Funds (SMSFs).
- 07 5234 9201
- admin@lomandraa.com.au
- Sunshine Coast, QLD
- Monday to Friday, 9am to 4:30pm