Recommendation for Accounting in Penrith/Lower Mountains

Hiya,

firstly, yes ive done a search on Penrith and Mountains through this section :)

as this is our first financial year with a IP we are switching from doing our bog standard PAYE returns to having a lot more deductibles/complexity and would therefore like any recommendations on a decent accountant in the forementioned area, obviously someone who understands negative gearing, depreciation and CGT implications well.

this would also include someone to do the initial depreciation schedule, hopefully the same firm.

I have seen some recommendations that rightly point out that the accountant can be anywhere but in this case i feel better sitting face to face with them if i have any questions and we also like to support local businesses where possible.

cheers
 
Hi there,

Most accountants would be familiar with dealing with rental properties. (I'm an accountant based in Richmond).

You'll just need to ring around as fees could vary. Ask what their standard fees are for clients with a rental property. It would be prudent to ask if the accountant owns rental properties as they would tend to be more knowledgeable about this topic.

As for the Depreciation Schedule, this needs to be prepared by a Quantity Surveyor. Check the Yellow Pages. Fees should be around $500-$600 and is deductible in the financial year that it is paid.

Hope this helps...
 
this would also include someone to do the initial depreciation schedule, hopefully the same firm.

You should get a qualifed quantity surveyor to do your tax schedule, which your accountant will then use/interpret. Dreamgirls suggested fees are pretty spot on...

happy to recommend one if needed
 
thanks for that, i will ring around and get some prices and then post back for future reference.

The accountant i am currently with does great with my, previously, simple return but i am not so confident of his PI knowledge
 
quick update,

called two agents who claim IP expertise one came in at $110 per return + $90 per IP and the other $120 + $110 per IP.

not much difference there. the swaying factor though was the first one ($110) will also throw in a quick chat now to ensure we are recording everything properly whereas the second wants to charge $150/hour
 
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