How Much Did You Pay For Your Tax Return & What Did It Include???

Just received the bill from my accountant for the 2015-2016 tax return which was a lot larger than expected so I'm curious to see what other people are paying.

My accountant is well regarded and top value for money so I'll stick with them. Just curious to see what other people pay so I'm not blindly signing checks.

2014 to 2015
$685 for four property investment schedules and one individual tax return

2015 to 2016
$1110 for 5 investment property schedules, one CGT calculation and one individual tax return

As an expat with only property income, the individual tax return would be a piece of cake to do.

 

This year is about $480 for 2 ppl, 3 IP. I provide all summaries etc

 

$264 for one IP and one individual PAYE return for the 2014/15 year.

Haven't done last year's yet.

I provide a spreadsheet with all income and expenses entered.

 

A pound of flesh to the taxman and a kidney to the accountant.

 

I paid $242 to my CA-qualified accountant.
TWO IPs, two PAYG jobs.

 

In Australia I always did my own but now in Spain it cost me about $5200 in accountancy fees to comply with their 5 different annual tax returns, painful.
(Modelo 720, E6, DTE, Income tax return, Wealth tax)

 

And I thought the amount of painful compliance grunt work in Australia was bad...

 

Paid $660 last year for two investment properties, salary income / ad-hoc deductions, shares including CGT and dividend income

 

Thanks everyone for your feedback and you Scott No Mates for your pound of flesh.

Looks like my accountant is on the pricy side.

 

$650 for 3xIP, 2 x ITR, 1x managed funds, 2x margin loans, misc share portfolio

 

Thousands and not much

 

Honestly - the OP - no issue with what you paid. Every accountant is different and it really depends on what you expect. A quality accountant and generally you get your return and donot question the output...why? value add. If you are unsure ask for a breakdown but ask for value they provide...what can you do to improve your return?

Personally, my accountants do a good job and provide value and if not i'd expect people to ask the question for the break down and if no value is added you would seek a second opinion.

ever asked a lawyer for charge out rates? see the different between city law firms and suburban firms? same applies to accountants.

Cheers Ivan

 

Really have no idea.
When you work with an accountant who's helped you grow and profit, it don't really matter what they charge, as it works both ways.
So the real answer is that we paid less than what we are willing to pay for the services rendered.

 

I pay about $3k per annum for two individual returns and a trust return and four BAS.

 

Excellent points Redwood and Ace and good reminders to focus on value not cost/charges. Now just to make sure for future tax returns that my top city accounting firm (thanks Redwood) is a good match for my very basic accounting needs.

 

Exactly this. A big part of it is choosing the right accountant to fit your requirements (as with any professional advisor). A Big 4 firm is not going to add much value for a basic individual tax return and is going to charge through the roof so you would be better off going with a suburban firm. On the contrary, if you are a multinational corporation the Big 4 firm is likely to add great value and minimise your tax obligations far beyond what the suburban firm could even after considering the difference in their fees.

 

It depends on what is involved too. A company return may cost $100,000+ in some instances ...eg think Wesfarmers / BHP consolidated affairs and subsidiaries.

 

That's pretty damn reasonable

 

Personal tax return with several IPs, Unit Trust's tax return with 2 IPs, Business P&L / Returns, Trust Acct Audit.... lots.
Knowing that its all sorted properly as well as getting advice throughout the year... priceless.

 

Great question OP, was coming into this group to ask the same question as I felt like I was paying 'city' prices. I have a PAYG tax return and 5 x investment properties and I'm paying $2K!!!!!!