Accounting is one of those careers that’s always in demand — businesses need help with tax, bookkeeping, and compliance no matter the economic climate. In Australia, salaries can be quite competitive, and for those who choose to run their own practice, the earning potential can be even higher. But like any business, you need to invest in the right tools and resources to keep your firm running smoothly.
Becoming a qualified accountant takes a mix of education and practical experience:
🎓 Education – Usually a bachelor’s degree in accounting, finance, or commerce is the first step. Many go on to complete professional qualifications like CPA Australia or Chartered Accountants Australia & New Zealand (CA ANZ).
🧑💼 Experience – Most accounting roles require 1–3 years of practical experience, often gained through internships, graduate programs, or entry-level jobs. This experience is vital to understanding real-world business and tax practices.
📜 Licences & Registration – Depending on what you do, you may need to register with the Tax Practitioners Board (TPB) and hold professional memberships to offer certain services, like tax advice or auditing.
Salaries vary depending on your experience, location, and specialisation, but here’s a general guide:
👶 Graduate / Junior Accountant – $55,000 – $70,000 per year
📈 Mid-Level Accountant – $75,000 – $95,000 per year
🏆 Senior Accountant – $100,000 – $130,000 per year
👔 Manager / Partner – $130,000+, with successful practice owners often earning $180,000 – $300,000
Running your own firm isn’t just about doing the numbers — it’s about having the right systems, tools, and setup to serve clients effectively and grow your business.
💻 Technology – Reliable computer, dual monitors, fast internet. $3,000 – $5,000 setup, plus $100–$200/month for internet and software updates.
📊 Accounting Software – Xero, MYOB, QuickBooks, or industry-specific tools. $50 – $150/month depending on subscriptions.
🔐 Data Security – Cloud backups, antivirus, and cybersecurity measures. $500 – $1,500/year.
📜 Professional Licences & Memberships – CPA Australia or CA ANZ membership, TPB registration. $1,200 – $2,000/year.
🎓 Ongoing Education – Webinars, courses, conferences. $500 – $2,000/year.
📢 Marketing & Branding – Website, business cards, Google Ads, social media. $1,000 – $5,000/year depending on scale.
🏢 Office Setup – Ergonomic chair, desk, filing storage, or co-working space. $1,000 – $6,000/year (home office is cheaper).
👥 Staff or Contractors – Bookkeepers, admin support, or junior accountants. $45,000 – $70,000/year per full-time staff member, or hourly rates for contractors.
If you’re a solo accountant working from home, expect expenses around: $8,000 – $15,000/year (not including your own salary).
If you run a small office with 2–3 staff, expect expenses around: $70,000 – $120,000/year, depending on wages and rent.
Final Word:
Accounting can be a profitable and stable career in Australia, and running your own firm can take your earnings to the next level. But remember — just like you tell your clients, you have to spend money to make money. With smart investments in technology, compliance, and client service, your accounting business can thrive for years to come.
And here’s something important to know: there are still fewer accountants than Australia needs, which means skilled professionals have great opportunities ahead.
