Why Should you Hire a Tax Accountant?
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Published by TOP4 Team
Hiring an accountant to help with taxes is one of those decisions most Australians will consider at some point in their career. While the governments E-tax software is quite easy to use, evidenced by the 3m people that use it annually, there are still some damn good reasons to consider commissioning the services of an accountant. Here are the good reasons why you should hire an accountant:
Let’s face it, most of us know nothing about tax beyond the fact that we hate paying it. Add to the mix that, according to the Association of Chartered Accountants (ACCA), Australia’s tax system is ranked highest in 'complexity' and you are definitely up against it. This complexity may not be an issue if the only income you have is salary but throw in a property, some shares and some dividends and it gets pretty nasty pretty quickly.
When you use an accountant you typically get an extra 5 months to lodge your tax return than flying solo. Since late lodgement can suffer penalties and people are inherently bad with deadlines this could be reason enough to hire an accountant.
‘Time is money’
The ATO is much more transparent today than say 5 or 10 years ago + there is a wealth of information on this thing called ‘the internet’. This basically means that a savvy consumer may be able to do their return without professional help. However, this wealth of information could take hours to find, hours to process and more hours to implement. These hours, which could be spent on the golf course, are lost forever if an accountant is not used.
The cost of having a return done by an accountant is tax deductible. It is also often automatically deducted out of any available refund. In that case, you don’t even have to fork over any money to get quality advice.
Call Gala Tax & Accounting Services today for the best tax accounting services you need.