Checked my tax return, has accountant made mistakes?

Question 1
I told my accountant that I scrapped my venition blinds and bought roller blinds.
OWDV was $154 She has depreciated them by $12 with a CWDV of $142. Shouldnt she be claiming the $154?

Question 2
I sold a property after renting for a couple of months of the financial year. I'd replaced carpet a few years ago.
She has OWDV $1646 Decline $68 CWDV $0
Does that sound correct?

Question 3
The CGT on above property sounds incorrect. There is no details in my tax return to show acquisition and disposal. All fields are blank. Shouldn't it be included in my tax return

 

This is why u get a depreciation schedule done by a mob that specializes in it

 

Q3- Acquisition and Disposal

 

I did but I don't get the depreciation schedule updated by Depro and Depreciator every year

 

Oh yeah! It looks like they haven't depreciated anything else in that property?? Not the first time they've lost all my depreciation schedules

 

Might be worth paying to get a second opinion, espec on the CGT.

 

I think the best person to ask is your accountant.

Your questions are all reasonable and it is normal (beneficial) to have an open relationship with your advisor.

And while I always try to be perfect I have made mistakes or not properly understood my clients. I appreciate it when these questions come back to me.

 

Yes, it's quite annoying the company I'm using has a high turnover of accountants so I'm onto my fifth accountant in around ten years. Difficult to build a relationship. I will raise my queries and check the work carefully. At some stage I'll change to an agency where I can hopefully deal with one accountant continuously for a number of years.

 

1. Missed
2. Correct. They wrote it off but the amnt written off should reduce the sale proceeds for cgt. They missed that it seems
3.Missed.

Your concerns indicate junior staff may be doing your work and not a property savvy tax adviser. And my greater concern is that work isnt reviewed. Thats a worry.

Bad software too. Prob sol6....its aweful.

 

Just to confirm the correct financial year, which month and year was the property sold? It sounds simple, but often an error made by many and even junior accountants.

 

If a junior accountant is involved that would be the mistake. Like asking an apprentice to build you a house

I dont employ them. They dont know enough

 

Thanks Paul! The sad part is I did 95% of the tax return and the 5% I didn't do looks wrong. I did a rough calc of the CGT and it looks around $20,000 out. I'll talk to the principal as I realise we can all make mistakes but I don't feel confident my 95% has been checked properly either. I think you're correct about the junior.

 

If you think the error is in ATO favor and not large, I would not worry about it and go elsewhere next time.

If it is in your favor, go speak to someone else now.

 

Not in my favour

 

Under and over paying tax are equally a concern.
The TAXPAYER remains liable for the tax involved. NOT the agent.

 

I see my role as a tax adviser to review and check your info. If your $0 value changes its part of my job to explain why.