Question 1

How do I pick a good tax accountant?

Accepted Answer

Choosing a tax accountant is not easy, especially when they all seem pretty much the same.  So, how are we at Personal Tax Specialists different and why should you trust us with preparing your annual income tax return?  The majority of accountants in Australia spend most of their time preparing tax returns & financial statements for clients who own businesses.  This means that either they don’t have sufficient time to prepare tax returns for salary & wage earners or they simply allocate such work to their junior staff, who probably lack the required expertise.  At Personal Tax Specialists we specialize in preparing tax returns for salary & wage earners as well as individuals with investments (in shares or property), which means that you are always our top priority.  However, we also have qualified, experienced accountants on standby ready to assist small business owners with their taxation affairs.  All of our team members are highly trained and experienced in tax issues, including complex work-related expenses, capital gains tax, rental properties & investment income as well as business matters; but just as importantly we are friendly, approachable people who really care about taking the pain out of tax time for every single client.

Question 2

What if I don’t have time to get to an appointment?

Accepted Answer

Finding time to get to an appointment with your tax accountant is not always easy.  To overcome this, we have designed our practice so that there is no need for you to travel to an accountant’s office for an appointment ever again.  You can ‘meet’ with our team either over the phone, at a time that is convenient to you.  Our team have flexible working hours; so they are happy to talk with you before, during or after the usual office hours, no matter where you are in Australia. Because we provide you with comprehensive checklists to gather your tax information each year, usually an appointment isn’t necessary; but please note, an additional fee may be charged for phone appointments.

Question 3

How much will it cost?

Accepted Answer

At Personal Tax Specialists, we know how annoying it is to get a bill for much more than you expected after your tax return has been completed; therefore, we charge a fixed price of $220 for the preparation and lodgment of all standard individual tax returns. Fees for business income tax returns generally start at $450 because of the additional worksheets & time involved.

If you have investment properties, capital gains or losses, share or managed fund investments or extensive work-related deductions, we will charge an additional fee for the extra work involved in preparing your tax return. Fees for such extra work can range from $55 to $110 per worksheet but we are always happy to quote in advance if requested.

If you are searching for the cheapest accountant, then that’s not us because our fee structure allows us to take the necessary time in order to achieve the best result.

To make it easy for you to pay our account, we offer 3 convenient options. You can either pay us by direct deposit into our bank account, by providing us with your Visa or MasterCard details or we can deduct our fees directly from your tax refund (There is an additional $27.50 charge for this fee deduction service).

Question 4

What should I be claiming on my tax return?

Accepted Answer

Most of our clients say “I don’t know what I don’t know” when it comes to tax.  So if you, like them, don’t know what questions to ask, how do you know if you are getting the best advice and claiming all that you are entitled to on your tax return?  Our comprehensive tax checklists have been designed to ask all of the questions that you need to answer to ensure your tax return is prepared accurately and that you claim all of the deductions to which you are entitled.  Therefore, you don’t have to know what to ask us because we will be asking all the right questions for you.  As well, on our what deductions can you claim? page, we have answered the most common questions our clients have about what tax deductions they can claim in their specific occupation or in relation to their investments or rental properties.  A business tax deduction checklist can also be provided if required – Just ask.

Question 5

Why shouldn’t I just use MyTax?

Accepted Answer

E-Tax was developed by the Tax Office to replace the old Tax Pack (which everybody hated) and then replaced by MyTax from 1 July 2016.  MyTax can be fantastic for people who don’t have many tax deductions to claim and who don’t have any investment income to declare because it is free to use; but anyone who has a more complex tax return probably won’t maximise their refund when using MyTax and in fact could be costing themselves much more than the fee charged by a qualified tax accountant.  Tax is one of the most complicated laws in Australia and is constantly changing.  So it is ridiculous to expect that all Australians have the time or interest in keeping up to date with these changes. When you join us at Personal Tax Specialists you don’t need to worry about making mistakes on your tax return or missing out on tax deductions.  We let you know what income to include and what deductions you can claim.  Most times, the amount of tax we can save you through our expertise and in-depth knowledge of the tax laws is much more than the fee we charge; plus our fees are 100% tax deductible.

Question 6

Why won’t my accountant call me back?

Accepted Answer

One of the most common frustrations we hear from new clients is that their previous accountant didn’t return their phone calls.  So we have a strict policy of returning all calls, texts and emails within a maximum of 24 hours (and usually on the same day).  Plus, if the person you want to speak with isn’t available, then there will be somebody else who will be able to take your call.  And because we work as a team, there will always be more than one person who can help with any questions or problems you have.

Question 7

How do I get started?

Accepted Answer

The Personal Tax Specialists team has developed a simple 5-step process that we follow for every single tax return.  By following this process we know that every tax return is completed accurately and results in the best possible refund, with the least effort, for our clients.  To get started straight away, just download, complete and then return our New-Client-Form.

Question 8

How do I know my tax return is right?

Accepted Answer

Because you are not a tax expert, you rely on your accountant to prepare your income tax return correctly.  But what happens if the accountant gets it wrong and would you even know?  Our team is highly trained and dedicated to continually updating our tax knowledge.  We follow carefully structured systems to ensure every tax return we prepare is correct and before your tax return is finalised, it will undergo a quality assurance review by a second accountant just to double check.  We take the time to make sure your return is right, because we know that your peace of mind is most important when dealing with the Tax Office.

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