Sunshine Coast Region, Queensland
Accountant in Bli Bli
What builders must report by 28 August, and how a property sale is taxed
Bookkeeping, BAS and tax returns for Bli Bli builders, trades businesses and families, from a CPA practice.
Bli Bli is a rural town a few kilometres inland from the Maroochydore urban area, 8.3 km north-west of Maroochydore, with the Bruce Highway along its south-western edge. Its population was 6,283 at the 2011 census, 7,801 in 2016 and 10,138 in 2021. Technicians and Trades Workers were 17.0% of its employed residents in 2021, second only to Professionals.
Bli Bli, past and present
Bli Bli's history and its 2021 Census.
The name is believed to come from the Kabi word bilai, meaning sheoak tree. Bli Bli Provisional School opened on 2 April 1901, and the David Low Bridge over the Maroochy River opened on 15 August 1959. For many years the wetlands were home to the Sunshine Coast sugarcane industry, which is now all but gone. Sunshine Castle opened in March 1972 as the Fairytale Castle, the Maroochy River Golf Club moved here in May 2015, and Good Samaritan Catholic College opened in 2017.
In 2021, 81.9% of occupied homes were separate houses and 40.3% were owned with a mortgage, with median monthly repayments of $1,900. Couple families with children made up 42.6% of families, the median age was 41 and median weekly household income was $1,670.
Builders and owners: three things to get right
The taxable payments annual report
Why it happens
A building or renovation business pays subcontractors: carpenters, plumbers, electricians, tilers.
Why it matters
A business primarily in building and construction, meaning 50% or more of its business income comes from building and construction services, must lodge a Taxable payments annual report (TPAR) by 28 August each year if it pays contractors for those services and has an ABN. Paper TPARs are no longer accepted after 28 August 2025, so the report is lodged online.
How we help
We also keep an eye on how decisions made this year can affect future years.
Records that feed the TPAR and the BAS
Why it happens
Subcontractor invoices arrive by email, text and paper, and payments go out from more than one account.
Why it matters
The TPAR needs each contractor's ABN, name, address and the total paid, and the same payments feed the GST on the BAS. Gaps in one show up in the other.
How we help
You get clean data and monthly reports that make cash flow and profitability easier to track. We can work with your existing tools or implement cloud software to streamline approvals and document storage.
Selling an investment property
Why it happens
A family sells an investment property or a block bought years ago.
Why it matters
An Australian resident individual who owned the asset for at least 12 months can reduce the capital gain by 50%, counting the time without the day of purchase or the day of sale. Capital losses are taken off before the discount applies. A company can't use the discount.
How we help
Our approach is to explain what matters in plain language and prepare your return with care, aiming to minimise errors and avoid surprises. Keep the purchase contract, settlement statement and records of any improvements.
Frequently asked questions
Does my Bli Bli building business need to lodge a TPAR?
Yes, if 50% or more of your business income comes from building and construction services, you have an ABN, and you paid contractors or subcontractors for building and construction services in the year.
When is the TPAR due?
By 28 August each year, for the financial year that ended on 30 June. It is lodged online.
Can Lomandra Accounting do the bookkeeping for a building business?
Lomandra Accounting works with trades and offers bookkeeping, BAS, GST, payroll and cloud accounting.
How is capital gain worked out when I sell an investment property?
The gain is the sale price less the cost base, which includes the purchase price and certain costs of buying, holding and improving the property. If you are an Australian resident and owned it for at least 12 months, the gain is halved after any capital losses.
Where to next
Have a question?
Before 28 August
Connect with Lomandra Accounting for a quick scoping call.
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