Tips to Choose Right Tax Accountant to Maximise your Tax Return

When tax season comes around, almost 70% of the population trust professionals to handle their personal tax returns. This is often done for convenience, advice, better refunds, or the simple peace of mind that everything was done right the first time with no issues. However, not everyone is familiar with tax accountants in Australia.

The tax experts of Tax Accountant Perth are not here to lodge tax return but also give you accurate information regarding your business and the lodgement date is the 31st of October.

Why You Need a Tax Agent?
Handle your taxes each year can help you maximise your tax return. Not everyone is familiar with the specific tax deductions they can claim or what taxes they should be paying, which can lead to them overpaying or underpaying, both of which could lead to serious issues.

Aside from ensuring that you lodge a tax return properly each year, professionals can also help you when your finances have become more complex. Our tax accountant can give you tax and budgeting advice to help you manage your finances.

Hiring the Right Tax Professional for You
Working with a tax professional for your tax return in Australia can be an excellent decision if you choose the right one. With the nature and complexities of the job, it’s important to find an agent that’s experienced and trustworthy. Fortunately, you can do so by asking the right questions.

• Ask them what their tax agent number is and check if it appears on the Tax Practitioners Board (TPB) website as a currently registered tax agent. Being recognised in the industry is a sign of a company’s expertise.
• Consider how long they’ve been in the tax business. Companies that have been in the business for a long time likely have faced numerous tax return cases, which means they are less likely to make a mistake than a newly established company and lodge the company tax return.
• Ask them what tax issues they specialise in, as not all tax companies are equipped to deal with different kinds of tax claims.
• When on a budget, it can sometimes be tempting to go with the cheapest choice. However, there is an average fee for preparing a tax return and these are often charged by the hour. If you come across someone that charges based on the size of the refund or that claims that they can get a bigger refund, it’s best to look elsewhere.
• Confirm if they would sign. The law requires professional agents to sign their client’s returns. When you sign a blank tax return, your accountant could include their own bank account number and steal your refund. Never sign an incomplete or blank tax return.
• Reconsider accountants that don’t lodge electronically. The ATO generally requires all tax agents to lodge electronically. If they don’t offer to lodge electronically, it can mean that they aren’t doing as much work as they claim or are more likely to make errors as they do not have the software to double-check they are and validate possible errors.