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How much for a good accountant who deals lots in property

Discussion in 'Accounting & Tax' started by Seal, 29th Jul, 2015.

  1. Seal

    Seal Well-Known Member

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    10th Jul, 2015
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    Location:
    NSW
    We have used an accountant who was ok. but they weren't involved in property.

    we want to change accountants and was interested to know what people have paid for initial consult and ongoing hourly charges for accountants who are used to dealing in IPs.
     
  2. jaybean

    jaybean Well-Known Member

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    Melbourne
    I pay $330 an hour incl. GST, worth every penny. Last return cost just under 1k.
     
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  3. Tranquilo

    Tranquilo Well-Known Member Premium Member

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    Last year I paid $175 for tax return. He's also a property investor.

    Probably more this year because I have many Questions to ask.
     
    Seal likes this.
  4. Seal

    Seal Well-Known Member

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    thanks
    who do you use?
     
  5. jaybean

    jaybean Well-Known Member

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    George Kolovos, 02 9558 6111. He's based in Earlwood.
     
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  6. Jerry O

    Jerry O Well-Known Member Premium Member

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    NSW / Melbourne
    who do you use Tranquilo?
     
  7. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Sydney
    Does anybody not know what they are getting charged?
    We get billed lump sums and just pay them because he gets results.
    Don't know how much the hourly rate is.

    This one time, a $12k excess interest payment taken due to bank error was picked up, even after I thought it was correct due to a refinance and loans crossing over, etc.
    Accountant insisted it was a double take by the bank and in fact it was.
    Got the money back + interest.
     
  8. Tranquilo

    Tranquilo Well-Known Member Premium Member

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    David wilder he's in Geelong
     
  9. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Location:
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    Approx the same here. And it's well worth it.
     
  10. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    My fees are typically agreed fixed fees rather than hourly. I haven't met a client disappointed by knowing the cost and that includes adhoc enquiries during the year. Until I tell you something is extra its included. Based on SS/PC preferred pricing etc this can work out at around $250-$280 a hour as a comparison. I don't charge for an initial consult generally (its not avail for a basic tax return) and always happy to discuss your needs and quote for no charge.
     
  11. MikeLivingTheDream

    MikeLivingTheDream BCOM MCOM MTAX CPA CTA Registered Tax Agent

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    24th Jun, 2015
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    Location:
    Philippines
  12. HD_ACE

    HD_ACE Game-Changer Premium Member

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    Perth
    $330 inc for mine.
     
  13. srirang

    srirang Well-Known Member

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    Location:
    Melbourne
    We pay $700 for wife and myself combined.
     
  14. CJP

    CJP Active Member

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    2nd Jul, 2015
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    Location:
    Melbourne
    Ours costs around $1300 a year for returns, business development support and other correspondence and structure advice. I would probably happily pay more for the value we get out of the practice and general insight into wealth creation strategies.

    Remember, price is what you pay, value is what you get. Everyone pays, only those who see the value in what they are paying for and happily pay, yield the true value.
     
  15. HUGH72

    HUGH72 Well-Known Member

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    FNQ
    About 1750 from memory for 2xPAYE returns plus investments
     
  16. bythebay

    bythebay Well-Known Member

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    By the bay
    Who do you use ace?
     
  17. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    What you pay is not the issue. What sort of quality can you expect for $79 to do a property tax return....This assumes a salary just over $45K....Honestly thats like asking for a heart surgeon who earns $85K to do your operation. If they exist you dont want to know them.

    The value is what you must measure. I would argue most taxpayers have no idea and think they get great value.

    I find the offer of a free consult assists both the identify needs and issues so that realistic outcomes are identified.
     
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  18. KMD

    KMD Well-Known Member

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    Location:
    Melbourne
    I'll be paying $430 for 1 x ITR and 2 IPs.
     
  19. MindMaster

    MindMaster Well-Known Member

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    19th Jun, 2015
    Posts:
    73
    Location:
    China
    I paid $585 and I am an easy client, only taxable income is 4 IPs and basic deductions.

    After looking at everyone else's accounting fees, I can't help feeling I'm paying a bit too much :(
     
  20. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Location:
    Canberra and Sydney
    Don't worry - mine were much more.

    Cheers

    Jamie