Tax returns

[bobby85]

My accountant charges for time, number of properties +/- share portfolio.
Year before last year $440 and took 1 hour. Will be higher this year due to more of the above.

Last year I gave H&R BLock a go - $335 which took 3 hours. Waste of money and time.

 

[Nattl3s]

Yes, i do my own tax and my trusts tax.
Completed a course to become a registered tax agent 2 years ago but I'm not a registered tax agent as such.
Cheers, nat

 

[allsuccess]

No.
Around $500 (depends on shares/properties etc...)
NA

 

[Gockie]

No
$440
Na

I use H&R Block in North Sydney, have done so for about the last 5-6 years. It works for me. I would have trouble with the depreciation schedule and 2-3 years ago I sold an IP and it would not be easy to work out the tax on that.
The only thing I'm worried about is being a long term customer and as a captive/loyal customer they could jack up the fees. (Bit like my dentist... I have/had a great dentist but he got expensive!) Would I move to another tax accountant? So far all good though.

 

[Paul@PFI]

Mike - I jest....

 

[coastymike]

paul - i know so was i. thought u might find it funny

 

[luckyone]

I go to an accountant. Cost $800 for both myself and my husband last year. That's for a tax return with some investment properties and shares.

 

[Wirra436]

In the past I used H&R block and E-Tax before I started Investing.

Now, with Properties, shares, etc etc Its better for myself to use a good accountant.

I pay currently around $600, it goes up for each Property added.

Cheers

Wirra

 

[chindonly]

I use an accountant. About $350, but I do a lot of the preliminary work for them. 4 IPs + shares.

I do my wife's on etax.

And my wife does her sister's on etax!

 

[coastymike]

Its also worth factoring in if you want to ask some questions along the way. We are quite generous with "freebies" and so what you pay for the tax return might be misleading. Ask H&R block whether a scrapping schedule would be of benefit for a property just purchased and never rented with plans to renovate and then rent. Had that exact question from a current client and took 10 mins of time for a response. No charge for that one. So look at what other value you also get for the fee.