towers

Wondering what the prevailing thought on completing your first Australian Tax Return is?

1) DIY
or

2) Ask a professional - if so would love a tip for someone cheap/in CBD

My defacto hasn't been working and we will have been here 12 months so I'm unsure whether that means more/less hassle/Tax Returns to complete after July 1st.

Thanks in advance!

benhila

We used a tax consultant first time, then moved to DIY. In hindsight, being a mature couple without kids, not self-employed and without a mortgage, we could have gone the DIY route the first time too. However, it did give us a rough idea of how to go about it, what to look for and where to find the info so not a total waste of cash. Can't recommend a consultant in Melbourne because we are based in Sydney.

trice_ie

Defo go pro you can claim cost back in tax return next year

Chortlepuss

Yes, second that - the system here is a bit inpenetrable (a great revenue earner!) but a good accountant if you can find one can help you through that - I just wish I could find one

pumpkin blossom

It is simple. I have done every one myself.

KJCherokee

Depends on circumstances. If you are employed with only a single income source and minimal claimable expenses then DIY is simple. If you are self-employed with various sources of income and expenses then a tax accountant is definitely the way to go.

Kiwipaul

Depends on how clued up you are and how complicated your tax situation.

You could always try DIY by using the ATO online tax return and see how you go. If you find it too complicated get a tax pro.

Must admit I tried the online route last year but found it so complicted I returned to DIY paper version and mine is pretty complicated with dividends, property income from Nz, investment income, etc

I used the online system to provide me with info to fill in my paper return as it automatically access all your Oz income (well most of it) and shows it too you.

jimbo_d

Always get a professional to do it, they'll save you more than the cost in the 1st year, then you can claim back the fee in the 2nd. Unless you're an Australian tax expert never do your own regardless of what type of employment you do, unless you like losing money that is.

sassie

Have to disagree with this

I do my own every year on line and find it really simple to use. If your tax affairs are fairly straightforward and there is nothing to claim for, like in our case, then DIY is the way to go. We always end up having to pay tax because of our savings, and I'm sure even an accountant couldn't find their way around that.

pumpkin blossom

I claim probably $250-300 a year expenses and always get a decent tax return doing my own.
The only reason to use a tax person here seems to be if you have a complicated case, are self employed, or are trying to dishonestly claim things which you are not entitled. I know a couple of people who have had to pay tax back in the last few years as their tax accountant got audited. Nearly every Aussie I speak to who uses one boasts about how much extra their tax person can get them that they are not entitled to.

commonwealth

i am an accountant. so its DIY for me lol

the_gripmaster

What are the types of expenses you can claim for? Any weblinks?

moneypenny20

Agree with both of these.

pumpkin blossom

It depends what field you work in. I work outdoors so can claim for sunscreen, sun glasses, steel toe capped boots, rain jackets, laundering branded work clothes etc. It gives examples in the online tax thingy. You can claim upto $300 without sending in the receipts (but they could ask for them). After that amount I believe you need all the reciepts.

Siren & Brian

First year I would do the tax return with etax yourself but not submit it. Then go to an agent and get them to do your return and see how you went and if there was any difference. $100 spent.