Property & Construction

Services & solutions

The property and construction industry is an integral part of Australia's success and progress, having a major influence on the life of every Australian. It provides the homes in which we live, the places in which most of us work and play, our schools and hospitals, and infrastructure such as such roads, water and electricity supply, and telecommunications, essential for our day to day living.

The construction industry accounts for around 5% of the Australian Gross Domestic Product (GDP), contributing over $39 billion to the economy and employing over 715,000 people. In addition, the construction industry accounts for a significant proportion of resource usage and energy consumption.

With this kind of impact, engineering and construction organisations bear a heavy responsibility. Construction and property companies must meet strict compliance, regulatory and tax requirements while maintaining high standards in environmental management.

Challenges you may be facing

Taxation
Complete taxation review of project structuring is vital to ensure the commercial viability of the project including compliance with all of the projects reporting responsibilities. This can also entail a system review and implementation of a documentation system to make taxation reporting straight forward.

Assurance compliance:
Owners of engineering and construction projects are subject to strict assurance requirements. With many different stakeholders (such as corporate boards, tenants, investors, developers, government, media, general public), many project owners have challenges meeting compliance requirements and divergent stakeholder needs.

Risk management:
Construction activities entail enormous fiscal requirements and logistical challenges - with risks being present everywhere! Many organisations require support with identification, management and reporting of risks and associated contingencies.

Corporate governance and sustainability:
Sustainability - environmental protection, social welfare and economic prosperity - is increasingly being seen as a responsibility of the construction and property sector. While some companies are actively engaging stakeholders to better understand the risks and opportunities that sustainability presents, many are taking a compliance-driven approach. By taking this approach, companies are overlooking the risks of potential loss of business, as well as the opportunities for cost savings and market differentiation.

Dispute resolution and fraud
Disputes can arise unexpectedly for even the most experienced player/s in this industry. Determining where responsibility lies can be a difficult and contentious process involving successive rounds of claims and counterclaims and requiring the investment of significant resources.

How BDO Kendalls can help...

Whether focused on the private or public sector, property and construction organisations are faced with unique business and operational challenges. BDO Kendalls is recognised for our extensive experience in the sector. BDO Kendalls appreciates that companies in the property and construction industry must make strategic decisions in a business climate characterised by converging markets and changing industry structure. We help companies to focus on the issues that matter to their business and to their clients.

Taxation advisory services include:

Project structuring for optimum tax outcome
Strategic taxation reviews and risk reviews
Compliance reviews including GST compliance

Risk management services include:

Independent project risk assessment
Project management support (including project cost projection, risks identification and mitigation)
Contract assessment and audit

Managed Investments Act:

The fast growing property syndication (direct property investment) industry requires specific assistance during the preparation of Independent Accountants Reports and Independent Taxation Reports for inclusion in Prospectuses and Product Disclosure Statements. Establishment, operation and audit of compliance plans is in integral part of the industry segment which BDO Kendalls has been ADPIA (Australian Direct Property Investment Association).

Development and audit of compliance plans under the Managed Investments Act
Completion of Independent Accountants Reports and Independent Taxation Reports for inclusion in Prospectuses and Product Disclosure Statements
Consulting on compliance issues
Provision of ongoing audit and assurance services

Operational and construction auditing services include: