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

Used to have local & overseas investment income, direct overseas payments + IP's to work through - full service city accountant was @$3k + p.a.
Good value as he and his team gave good (and legal) tax advice and you could run through different scenarios with him.

Now things are much less complicated and I use a suburban accountant for $650 p.a. all up - but he is just a bean counter - nothing like the first chap.......

You get what you pay for.......

 

I have a disproportionately high number of accountants as friends... so I just go to them for free advice and do it myself. Income + 2 IPs. I still don't think the value is there for me yet, but it's getting close as i buy my next IP and current properties are starting to get repairs etc. Especially since the time commitment using an accountant can be more than just doing it yourself.

 

I looked to change tax accountant - as the costs crept up each year. I checked out another accountant and asked him to quote, he asked for all my tax returns (personal, trust and smsf) prepared by the previous accountant (including how much I paid), then said he would charge me the same as the previous one Why don't potential tax accountants quote on the work they would have done, instead of relying (or copying) the other accountants?

 

How would they know what they would have done without knowing in detail your situation?

 

Two PAYG, quarterly BAS, three trusts, four companies, SMSF... probably 5k or more.

 

Hi Terry
What I meant was I provided the potential tax accountant with all the tax returns prepared by the previous accountant and would like to see his actual cost (instead of him telling me he would charge me the same cost as the previous accountant).

 

You also have to factor in any advice you received during the year. How many times did you ring or email questions and were you charged for these separately. Non-resident CGT is also more complex than usual so factor in extra costs for that too

 

Around $2k for personal. $2-3k for every trust/company.