Accountant expectations

Discussion in 'Accounting & Tax' started by ellejay, 22nd May, 2016.

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  1. ellejay

    ellejay Well-Known Member

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    I was told it takes about 2 weeks and costs $60, that was over a month ago.
     
  2. ellejay

    ellejay Well-Known Member

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    I haven't been asked for any new info since July last year and the bulk of info would have come from my already completed nz return. My issue is the $4k bill which will be closely followed by the same again for the current nz one and then the aus due in July. So $12k in accountancy fees approx.
     
  3. Greyghost

    Greyghost Well-Known Member

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    Nope.
    One ABN is the same as the other.
    As I said simple ones you will get on the spot, others can take a few days.

    Company and trust set up takes 48 hrs to have corporate folders delivered to be signed.
    Some companies email the PDF version before the folders even arrive.

    Not sure what his accountant was doing but doesn't seem proactive or responsive.
     
  4. Greyghost

    Greyghost Well-Known Member

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    What is involved in the $4k of Aus work:
    Eg - a business/ or just rental properties.
    Are they commercial?
    Is there any GST to be accounted for?

    How is info supplier to Aus Accountant?
    Summaried?
    Data file (myob/xero/xb) or excel

    Working off a hourly rate of 210-250 for $4k that is 15-19 hours work..
     
  5. seachange

    seachange Well-Known Member

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    Just move on. There are plenty of good accountants out there. That partner I mentioned before also wanted to know why I was changing, and I quote "unless something is very wrong , people never change their doctors , dentists or accountants".. Not true . Needs change . He is of the generation that stick with one bank for life too I guess.
     
  6. seachange

    seachange Well-Known Member

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    Ps, as you have, keep it friendly. Don't bother worrying about lost interest, it's petty . Better to have a smooth transition to another firm ( you need the existing to acknowledge the handover in an email )
     
  7. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    ABNs are free. The accountant however might have a fee for applying for it for you which is fair enough. Some ABNs are issued automatically upon application. That is cases where the name of the applying entity is not the same as another ABN holder. Otherwise, processing times were 28 business days last time I checked. Unless of course the ATO is doing a system upgrade that goes awry in which case it can take 5mths!
     
  8. wogitalia

    wogitalia Well-Known Member

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    The only real reason for an ABN to not happen instantly is if the person doing the application hasn't got all the information, occasionally they'll sent for further checking regardless but it's not very common.

    A TFN does take longer though.

    Sounds like you've got an accountant who's billing you for full service and then not providing it.

    4k is a fairly substantial cost unless there is a business, SMSF or absurd level of complexity involved or you're one of those obnoxious shoe box clients who wants to pay their accountant to do their filing as well (wouldn't recommend this, it's not that hard for you to do it and you wont be paying 250+ an hour...)

    I'd certainly be at least getting quotes from a few other places to find out if the cost seems remotely justified especially given that you're clearly not happy with the service.
     
  9. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    An example of when an ABN is not issued automatically is with a common name already registered against a billion different ABNs such as "The Smith Family Trust"
     
  10. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Clearly the issue is that the client doesnt understand why the fee is high and why it took so long. Thats poor communication and poor billing if it doesnt breakdown the cost.
     
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  11. Greyghost

    Greyghost Well-Known Member

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    This doesn't effect ABN registration
     
  12. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Yeah it does. When you apply for an ABN online, if your registering entity doesn't have a unique name (ie another ABN exists for same name albeit different address etc), it automatically does not qualify for an auto-issued ABN. It doesn't mean you cannot have an ABN, but it goes to manual processing.
     
  13. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    A number of factors can delay "real time" ABN issue. Its largely something thats outside control and 99% occur within 24hrs. It used to be aweful. SMSFs get delayed until a background check determines risk profile. ie Two members with $50K in super might not get a ABN and may get a phone call.
     
  14. ellejay

    ellejay Well-Known Member

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    I agree the pricing may be correct but a breakdown would make it clear for me. Also the huge delays both years mean I end up getting billed just as my NZ invoice is due which means I'm hit with a bill around $8k in one go. Also, given I'm paying so much, a small offering of tax advice related to my situation would have been a nice gesture. I've had more advice from you Paul and from Terry W on here for free than I've had from either of these two. Anyway, I've parted company as of today.
     
  15. ellejay

    ellejay Well-Known Member

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    Tax return for 2 people with multiple ips, only 1 in Aus. Info comes from NZ accountant and from myself to take account of Aus income. No GST. I use an excel spreadsheet. I think communication's been my biggest gripe. Anyway, happily moved on now.
     

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