Tax Return Help!
 

Hi all,

My partner and I moved over here at the end of March 2010 on a WH visa and I understand we need to complete a tax return :confused:

It has been suggested in passing that I would be better off using a tax accountant to make sure we collect any possible rebates etc..

Firstly.. Does everyone agree this is a good idea, considering I've never completed a TR before?

If so, any recommendations for a reliable company in the Manly/Sydney area?

Thanks all :thumbsup:

Re: Tax Return Help!
 

Tax agent should only cost you around $100 so well worth doing. Can't help with the Manly area.

Re: Tax Return Help!
 

I would also suggest you pick up a tax pack (available at some newsgents) and have a read to understand the system.

Also you can download the etax system and have a read though on line. You will then be in a position to ask questions as well as understanding what you are being told.

Not all tax accountants are great, some employee students this time of year to go through the standard basics. You need to read through and understand it is not just about filling in this year but also what you can do for the following year in terms of collecting reciepts and positivily planning your tax regime. It really is simple enough if only on PAYG.

Whatever you pay this year, keep your receipt for the payment and claim it back next year for tax rebate as a legitimate expense.

Re: Tax Return Help!
 

Thanks Sandra - So in your opinion I might as well do the TR myself? :)

Re: Tax Return Help!
 

For the VERY SMALL amount that an accountant will cost you (and you can claim it back next tax time) I would definitely use a tax agent. I can't recommend one for your area as I don't live there.

The tax system is VERY different and with respect, you won't have a clue what you can claim for. An outlay of $100-$130 might save you a fortune and gain you some relaxation and some sleep! :)

Re: Tax Return Help!
 

I've done my own up until this year (I found it quite easy, and the etax system very user-friendly), when I decided to try out getting someone else to do it. All I can say is don't use HR Block - I had to correct their figures before it was lodged. Try and get a personal recommendation from someone you work with and not just go on glitzy tv ads, like I did. Oh well, you live and learn...

Re: Tax Return Help!
 

Interesting about HR Block, they don't have a good rep here in Cairns either!

Just make sure that whoever you use understands that you only need to declare what you have earned since becoming resident. We completed return for 08/09 late & are still having issues with it as the accountant got it wrong!

Personally I think it is worth using an accountant in your first year or two, until familiar with the system & what you can claim but make sure they know their stuff!

Re: Tax Return Help!
 

I agree with that.

Re: Tax Return Help!
 

I have been told by many people that they are just number crunchers (?) and that if you go to them you may as well do it yourself on line. Don't know how true this is, BUT we did our own on line till last year and then went to an accountant cos of self employment. He got us heaps back that we really werent aware we could claim for, well worth the $200!!

Re: Tax Return Help!
 

I have to echo that completely.

Re: Tax Return Help!
 

I actually love my accountant. I do it myself and then I give it to him and its like a challenge to prove their worth. so they save me more!

Re: Tax Return Help!
 

Have a read through all the tax stuff make sure you are aware of the process and for the first year use a recommended accountant who will spend time with you explaining the process and what you can and cannot claim for the following year. Get value for money from your first visit not just someone who is filling in exactly what you can do on line. The best way to compare the service is to try doing it yourself first you can get estimates from the online calculator and it does have decent explanations.

Having used a tax accountant once I was sorely disappointed after having to explain LAFHA for my overnight stays and various other items I can claim. I am a straightforward PAYG. If I need more detailed services in future I will pay the money and go for a recommended qualified person.

As others have said watch out for the cheapy offers H&R Block etc and one who offer money back there and then etc glitzy ads. It is worth knowing if they advise you incorrectly it is still you responsible for the fraudulent claim not your tax advisor :)