1. The cost pays for itself
Using a tax agent who has extensive knowledge of the complex Australian tax law, has spent years studying and processes tax returns on a daily basis can help you receive your full refund entitlement. mandurah tax accountants
The fee charged by a tax agent is also tax deductible in the following income year, along with travel to see your accountant!
2. Avoid going to Jail
Ok, so that may be for extreme circumstances but using a tax agent can help you maximize your return whilst staying in the legal boundaries and avoiding penalties and fines. You can be reassured knowing that your taxation activities are compliant and legal so you don’t end up in trouble with the ATO.
3. Long-term Benefits
Having a good relationship with your Accountant is always beneficial. They have a good understanding of your affairs and can provide you with tailored advice and can assist you when you need to get finance or when the ATO auditor comes knocking on your door – trust us you don’t want to be alone when they come knocking!
4. More time to lodge your tax
If you have a tax agent, the October 31st submission deadline doesn’t apply to you and you are eligible to receive an extension – usually until May the following year to lodge your tax return.
5. Free up your precious time
Time is money and hiring a professional to outsource the tedious task of completing bookwork and tax returns could be cost effective for you. Get an expert to deal with things that you are not an expert in and free yourself to focus on the things you do best! Tax agent have access to ATO records and are competent with dealing with ATO for any enquiries you may have.