Example
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Budget Forecast Example
Example document for Budget Forecast. Use this as a reference when creating your own.
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Document: Budget Forecast
Example Document
Last updated 7/30/2026
Business Name: Apex Plumbing Services Pty Ltd
Financial Year: 1 July 2024 to 30 June 2025
1. Assumptions
- Inflation Rate: 2.8%
- Growth Target: 10.0%
- Planned Capital Expenses: New Toyota HiAce Ute ($45,000)
2. Revenue Forecast (Excl. GST)
| Month | Emergency Repair | Maintenance Installs | Total Revenue |
|---|---|---|---|
| July 2024 | $15,000 | $10,000 | $25,000 |
| August 2024 | $16,500 | $11,000 | $27,500 |
| ... | ... | ... | ... |
| TOTAL YEAR | $198,000 | $132,000 | $330,000 |
3. Direct Costs (COGS)
| Month | Materials | Subcontractors | Total |
|---|---|---|---|
| July 2024 | $3,500 | $2,000 | $5,500 |
| August 2024 | $3,850 | $2,200 | $6,050 |
| ... | ... | ... | ... |
| TOTAL YEAR | $42,000 | $26,400 | $68,400 |
4. Operating Expenses
| Expense Category | Annual Amount |
|---|---|
| Rent (Small Office) | $12,000 |
| Vehicle Fuel & Maintenance | $8,000 |
| Public Liability & Tool Insurance | $2,500 |
| Yellow Pages / Google Ads | $5,000 |
| Accounting Fees | $3,000 |
| Phones & Internet | $1,800 |
| TOTAL OVERHEADS | $32,300 |
5. Labour & Payroll
| Item | Annual Cost |
|---|---|
| Apprentice Wages (1st Year) | $45,000 |
| Owner Wages | $80,000 |
| Total Gross Wages | $125,000 |
| Superannuation (11%) | $13,750 |
| WorkCover Insurance | $2,500 |
| TOTAL LABOUR COST | $141,250 |
6. Profit & Loss Summary
| Item | Annual Amount |
|---|---|
| Total Revenue | $330,000 |
| Less: Direct Costs | $68,400 |
| GROSS PROFIT | $261,600 |
| Less: Operating Expenses | $32,300 |
| Less: Labour Costs | $141,250 |
| NET PROFIT BEFORE TAX | $88,050 |
| Less: Income Tax Provision (25%) | $22,012 |
| NET PROFIT AFTER TAX | $66,038 |
7. Cash Flow Projection
| Month | Opening Cash | Net Cash Flow | Closing Cash |
|---|---|---|---|
| July 2024 | $15,000 | $4,500 | $19,500 |
| August 2024 | $19,500 | $5,200 | $24,700 |
8. Tax Obligations
| Tax Type | Frequency | Estimated Annual Payment |
|---|---|---|
| GST | Quarterly | $30,000 |
| PAYG Withholding | Quarterly | $13,750 |
| Income Tax | Annually | $22,012 |
Notes
Annotations:
- GST Calculation: Revenue includes GST collected ($33,000). Expenses include GST credits. The net $30,000 GST payment is the remittance to the ATO.
- Superannuation: Calculated at 11% of gross wages ($125,000) to meet the Superannuation Guarantee rate for the 2024/25 year.
- Provision for Tax: A 25% tax rate is estimated for the company profit. This money is set aside in a high interest savings account to ensure funds are available for the ATO lodgement.
About this Example
Part of the Budget Forecast document collection
Document Type
Budget Forecast
A Budget Forecast is a financial estimate of future income and expenses. It helps Australian businesses and tradespeople plan for growth, manage cash flow and meet tax obligations.
Complexity
moderate
Risk Level
medium