are these accountant fees Reasonable ??

its quite a simple personal tax return

and just one IP

and 1 ammendment from the previous year because i had a depreciation report made
 

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I had my 2012 done recently and it was $198 for the return with multiple IP's. However no CGT or depreciation calcs as the depreciations were done by a third party schedule report (thanks Scott!).

The accountant also does other work for me including SMSF so does a good rate.
 
Looks fair

1. rental property with depreciation schedule, probably associated borrowing costs and calculation of amortisation of such. allocation of project pool to correct label and then adjustment to income tests.

2. calculation of capital gain on disposal of property involving cost base calculations and proceeds calculation. allocation of sale price between depreciable assets and other assets to determine balancing charge and cgt on disposal.

quite reasonable given you have a CGT event.
 
Hi..

I sat with her 20 mins max. Had everything organised just had to read her the numbers and she asked a few questions.
Then it takes her 2 weeks to complete which is quite long I think compared to some other ppl I've talked to.

And the bill is nearly $750 for what I think is 2 pretty simple returns
 
I think its too high.

I pay around $250 for 3 IPs + shares including a little trading and CG events.

I do get everything together for them though.
 
Alexlee: Im asking out of curiosity , to a forum of much more experienced ppl than me.

Yes I think I will go somewhere else next year . It's too late now to find someone else this year they have already done the work.


Cheers for all the replies everyone
 
Yes and a good chance the other person will get the balancing charge on disposal incorrect as ive seen too many times to mention and then be up for penalties and interest and a future audit risk target because the claim was wrong. Cgt on shares dont have a balancing adjustment event like property so the two comparisons are not the same. Anyway heaps of cheap people out there that may or may not get it right.
 
Stop whinging (tongue in cheek). I just got mine and not happy I had EVERYTHING organised depreciation laid out, IP info on spreadsheet personal income stuff laid out. It was all done in 1 hour less in fact and was ready to be picked up next day to read.

$990.00

Obviously it is not done by an hour rate, or is it :eek:, I can only assume it is a set rate for each tax return.

Brian
 
I was in a very similar situation to you this EOFY, complete spreadsheet prepared with electronic copies of all receipts. So prepared in fact that the accountant asked if they could use my spreadsheet to use for other clients! I was charged $750 which I thought was much too high. I rang the accountant and told him as much, and he asked how much I thought it was worth. He had done a good job and pointed out a couple of small things I wasn't aware of so we came to an agreement of $500 plus GST.

It does pay to ask, and it does no harm to do so.

Best of luck :)
 
I paid $980 for 2 payg, 1 IP and 1 PAYG variation.
could find cheaper acct ..but hard to get an accountant who also is an investor.
 
My accounting bill for the year is about 7k which includes returns for three trusts , several meetings conversations and emails etc . Advice on a wide range of matters . Seems pretty reasonable to me .
 
Seems Ive been gouged over some years....

I do all the collating of data and present it perfectly (at least that what they tell me).

2 x PAYG
1 x PTY LTD Co
4 x IP's
No phone talk
no meetings.
just a couple emails at tax time to verify a few things.

$1850...:eek:

Should this be lower...? I think so.
 
$1,500 sounds a fairer price but that is excluding GST. is that $1,850 including GST. if so the company will be billed and get back the GST so real cost is $1,680. probably $180 more than it should be but not totally unreasonable.
 
Seems Ive been gouged over some years....

I do all the collating of data and present it perfectly (at least that what they tell me).

2 x PAYG
1 x PTY LTD Co
4 x IP's
No phone talk
no meetings.
just a couple emails at tax time to verify a few things.

$1850...:eek:

Should this be lower...? I think so.

Hard to tell. IMO, it depends on what the company is doing. I assume the IP's are held in personal names?
 
Seems Ive been gouged over some years....

I do all the collating of data and present it perfectly (at least that what they tell me).

2 x PAYG
1 x PTY LTD Co
4 x IP's
No phone talk
no meetings.
just a couple emails at tax time to verify a few things.

$1850...:eek:

Should this be lower...? I think so.

Accountants will charge about $1200 for a company return. So that leaves $650 for 2 x PAYG at say $150 each, and some IP's at say $50 each so thats not far off.
 
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