Recommdation of Canberra accountant

Does anyone know of and can recommend a canberra accountant for a beginner property investor?

 

@Catherine IP I use and recommend The Firm

It is a big enough firm that they can manage the workload but not too big that it becomes an impersonal relationship. Fees vary depending on complexity of your return and how much work you do before hand (i.e. shoebox of receipts vs excel spreadsheets) and the nature of your return. With 3 IPs (including an NRAS) + share portfolio my annual return is around $1200.

 

Thank you @Martin73 I just want to talk to someone prior to buying my first IP, Will look into them ta

 

Hi Catherine. I highly recommend Pamela Hussey of Hussey and Hussey. She is a great accountant and a really nice lady. They are in Dickson. I have 12 investment properties and she has been looking after my tax for 10 years and knows absolutely everything about property deductions. Their rates are totally reasonable i only pay $1,200 per annum but i have a very complex return so you would be way less. She can advise you on the tax around property but i strongly suggest you educate yourself before buying investment property. You can just read a few books and that will make a massive difference to your knowledge and just reading plenty on this website will help as well. I recommend Margaret Lomas - Property Success and Michael Yardney how to build a multi-million dollar property portfolio. Might cost you $60 for 2 books but if you are going to spend hundreds of thousands on property it's very much worth it. both have different concepts of what kind of property to buy but general principles of borrowing money to invest and making money when you sleep are good. Margaret advocates bread and butter properties with good yields and positive cashflow, whilst Michael says but close to the CBDs and pay a higher price for better capital growth. Look at your own individual goals and circumstances and try to set a strategy out before diving in and either educate yourself well or get some advice from a professional investor or a QPIA. You will also need a good mortgage broker to assess how much you can borrow.

 

Sorry to hijack your thread but I'm in a similar position of looking for a good accountant for rental property in Canberra. I've been recommended a tax accountant who specialises in property investment and got a quote for ~$600 for personal tax return (standard employment, single salary) + one investment property, including 2 hour appointment (their hourly rate is $400/hr beyond this). Does this sound reasonable? I used a tax accountant previously and paid only $250 for similar return, but I wasn't very happy. They didn't give much useful advice other than 'get a depreciation schedule'. You get what you pay for I guess.. Thanks.

 

@jackie01 Sounds reasonable to me. Remember that costs of managing your tax affairs are tax deductible as well.

Did you get the depreciation schedule?

 

Cool thanks. I did get the depreciation schedule.

 

Try Ross at dpraccountants.com.au -

 

Jane Hadrill from Hadrill Accounting is really good - one of the best in Canberra, and she even teaches a short course at CIT. However, she is not particularly cheap but does an excellent job. I guess you get what you pay for.