Yes $350 + GST for each individual (Therefore $770) and $2600 + GST for HDT. I feel I also get valuable advice throughout the year also which is not charged and probably included in this cost
Do I do my accountants job for them?
- Thread starter DavidMc
- Start date
Yes $350 + GST for each individual (Therefore $770) and $2600 + GST for HDT. I feel I also get valuable advice throughout the year also which is not charged and probably included in this cost
That's the beef I have with the accountant, I asked couple of questions (fairly general questions) in an email and he charged me at the rate of $350 ph. There was no advice throughout the year whatsoever.
You expect this email advice for free?
If you don't want to pay for it, and if they're only general, why don't you find the answers yourself?
OK, that makes a bit more sense. You are probably getting one bill that covers preparation and lodgement of your tax returns, plus all of the advice required for the year.
I am paying the accountant 3 & half grand(very little work) for 3 years, and that was the first time I had a couple of queries, I would expect a bit of courtesy advise/customer relationship. Don't know what you do for a crust, do you use a stopwatch in your work ? It's a pain to work with someone or have a service provider like this.You expect this email advice for free?
If I knew he was going to charge, I wouldn't have asked him. I knew the answers, just a bit of confirmation. Anyway found a better accountant, move on.
even with me doing all the calcs, my previous accountant would insist on checking them all and then charging hideously ... one year cost me $10k for 2 trusts, 1 comp and 2 personal - with me doing the hack work.
changed accts for last financial year - came in at less than $2k for the lot. very happy now.
Yes, all and all I am happy with my accountant. I would rather pay him good money for advice I can trust, rather than pay a cheaper amount for advice I am unsure of. You get what you pay for I think!
Just following up on this...
I've just received two quotes back. Both around the same, $2.1k - $2.4k for my last two years returns, 4IPs for 2009, 5IPs for 2010 + HDT (3 props) + company stuff.
Based on an hourly rate of $100ph, would they really spend 21 - 24 hours (3 x 8 hour days) on my returns (given everything is already summed, calc'd and in order - no advice required)?
Biggles - how long would it take for you to complete a return like this?
(No disrespect to my accountants (they are probably reading this thread!) - as based on this thread they appear to be charging market rates. I'm just trying to understand more about what they do).
I've just received two quotes back. Both around the same, $2.1k - $2.4k for my last two years returns, 4IPs for 2009, 5IPs for 2010 + HDT (3 props) + company stuff.
Based on an hourly rate of $100ph, would they really spend 21 - 24 hours (3 x 8 hour days) on my returns (given everything is already summed, calc'd and in order - no advice required)?
Biggles - how long would it take for you to complete a return like this?
(No disrespect to my accountants (they are probably reading this thread!) - as based on this thread they appear to be charging market rates. I'm just trying to understand more about what they do).
that's why i changed acct. i would supply him with a detailed and summarised version of all transactions (interest, rent, r&m etc) yet he wanted the actual statements and would reput all in the info into his system. took me two years of fainting at the bill to changed accts, who takes my reports, transposes the figures, works out the depreciation and lodges the return. costs me 1/5th of the other guy
I cant even get a plumber for that rate
Just a guess, but maybe the HDT is driving the price up a bit. The ATO don't like them, banks don't like them much either, and they would probably require more work (but not much more) than a standard Family Trust. (we don't have any clients with HDT's, so I'm not sure how much extra work - if any - is required)
Maybe the quotes represent a loading for the HDT. The accountant maybe doens't want to do it, but will if the price is right.
But your quote looks on the high side to me.
Try
[email protected]
Normal tax individual tax return - $90
Tax return and 1 IP - $150
Tax return and 2 IPs - $290
Tax return and 3 IPs - $430
Tax return and 4 IPs - $570
Tax return and 5 IPs - $700
Prices are approximates....the service is also mobile so they come to you.
[email protected]
Normal tax individual tax return - $90
Tax return and 1 IP - $150
Tax return and 2 IPs - $290
Tax return and 3 IPs - $430
Tax return and 4 IPs - $570
Tax return and 5 IPs - $700
Prices are approximates....the service is also mobile so they come to you.
There are big discrepancies amongst accountants charges for various reasons.
Some accountants are brilliant at what they do, they keep up to date with changes in tax law, communicate well with their clients, and as a result, have a lot of loyal clients. Their selling point is that they do the job properly.
Others can be very amatuerish, have unqualified staff working for them, don't really keep up to date with tax changes etc. They pick up new clients by offering a cheap service.
Accountants will normally charge between $150 - $400 per hour. Charge rate is dependant upon skill, experience etc.
If you had plenty of clients willing to pay $300/hour for your services, why would work for less? For warm fuzzies????? Get real!!!!
If you were always scratching around for work, you might lower your rate to $150 hour, spend time driving around to do a $150 tax return etc.
Price comes down to demand and supply. It doesn't matter if your talking about accountants fees or a property. A dog box of a flat in a crappy area will be cheap because nobody wants it. Same goes for a below average accountant.
Saying that, you'll eventually find someone desparate enough to buy that dog box of a flat, you just need to lower the price enough.
Some accountants are brilliant at what they do, they keep up to date with changes in tax law, communicate well with their clients, and as a result, have a lot of loyal clients. Their selling point is that they do the job properly.
Others can be very amatuerish, have unqualified staff working for them, don't really keep up to date with tax changes etc. They pick up new clients by offering a cheap service.
Accountants will normally charge between $150 - $400 per hour. Charge rate is dependant upon skill, experience etc.
If you had plenty of clients willing to pay $300/hour for your services, why would work for less? For warm fuzzies????? Get real!!!!
If you were always scratching around for work, you might lower your rate to $150 hour, spend time driving around to do a $150 tax return etc.
Price comes down to demand and supply. It doesn't matter if your talking about accountants fees or a property. A dog box of a flat in a crappy area will be cheap because nobody wants it. Same goes for a below average accountant.
Saying that, you'll eventually find someone desparate enough to buy that dog box of a flat, you just need to lower the price enough.
