How to Start an Accounting Practice in Australia
If you’re a qualified accountant looking to take control of your career, starting your own accounting practice could be a smart move. From tax agents to small firm advisors, many Australians are choosing to go independent. Here’s what you need to know before launching your accounting business.
1. Confirm Your Qualifications and Registrations
To offer accounting services legally in Australia, you’ll need relevant qualifications and may require registration as a:
- Registered Tax Agent (with the Tax Practitioners Board)
- BAS Agent (for bookkeeping and GST)
- Chartered Accountant (CA ANZ or CPA Australia member)
To register as a tax agent, you must meet education, experience, and continuing professional development (CPD) requirements.
2. Choose Your Business Structure
Decide whether to operate as a sole trader, partnership, company, or trust. This affects your legal obligations, tax treatment, and how you scale.
3. Apply for an ABN and Business Name
Once your structure is chosen, register your Australian Business Number (ABN) and business name through the Australian Business Register and ASIC.
Register your business name here.
4. Set Up Insurance and Legal Protections
Ensure you have the right cover from day one, including:
- Professional indemnity insurance (mandatory for tax agents)
- Public liability and cyber insurance
- Client engagement contracts
5. Build Your Tech Stack
You’ll need cloud-based tools to manage clients and compliance. Essentials include:
- Practice management software (e.g. Xero Practice Manager, Karbon)
- Document storage and workflow tools
- ATO portal access for registered agents
6. Attract and Retain Clients
Start with a niche or industry you know well—then expand. Use digital marketing, client referrals, and industry networks to build your client base. Keep communication personal and your advice results-driven.
7. Stay Compliant and Keep Learning
Running a compliant practice means staying on top of tax law changes, ASIC updates, and industry best practices. Join a professional association and track your CPD points.
Helpful Resource
To check your eligibility for tax agent registration, visit the Tax Practitioners Board guide.