4 ip = 700
Hi, my partner and I bought our first IP this year so we are going to have our tax done professionally this year. The agent that sold us the house recommended his own tax accountant and we had an initial appt with him which he didn't charge us anything for – but just spoke generally for about 15min. He has now given us a fee estimate after I submitted our itemised receipts – excel summary and depreciation schedule: the estimate is $1200 incl both our returns and the setup work for calculating the cost base/capital gains stuff for our IP. He said next year it wouldn't be as expensive. He also said they charge $350 for the most basic returns. They specialise in IP tax.
What does everyone think of this? Is it reasonable since it's the first year – setup costs etc? I'm in Brisbane if anyone wants to recommend.
i have just had my tax done, i have four investment properties and am a single parent of three primary aged children, i do not have my income and expenditure on a spreadsheet. My account for having my tax done this year was $250 with over $4,000 tax return
Terryw wrote:Not sure why you want an accountant who operates nearby.These days you can do everything via email with no need to actually go in to see the accountant. Its not like getting a hair cut where you need to be present. Even if you did go in you would only go once or twice a year and the trip is tax deductible.
Why is it that everyone on this site sweats the small stuff- You have all missed a valid point. Who knows a tax agent in Europe? I will require one or two trips each year…….
could those have reasonably priced accountants post the accountant contact info or PM me please, I have few IPs and have been paying thousands in accounting fee, prior to having the HDT it was $2500, with HDT $3500, especially when I summarize everything in incomes and expenses, interest for each loan etc. (I spend 2 weeks to prepare everything myself before handing to the accountant).
I am in Brissy but if the accountant is in anywhere is fine.my thinking is that the rates are different depending on what was provided by the accountant. maybe the service is very good. Did the person spend a long time giving advise and explaining? I am no accountant but what i know is that it depends on the complexity of the situation not how many IP.
oneworld
If you are happy to consider someone on the Northern Gold Coast why not try
Steve Hodgkinson who is a partner with GOLD GROUP CHARTERED ACCOUNTANTS.
Steve has been my Accountant for 14 years and is an expert on property structures.
I have a few more properties than you and dont pay that much more in Accountancy fees.Address
56 Davenport Street (cnr Davenport & Bay Streets),
SOUTHPORT QLD 4215Postal Address
PO Box 428, SOUTHPORT QLD 4215Phone: (07) 5532 2855 Fax: (07) 5532 4563 Richard Taylor | Australia's leading private lender
oneworld wrote:could those have reasonably priced accountants post the accountant contact info or PM me please, I have few IPs and have been paying thousands in accounting fee, prior to having the HDT it was $2500, with HDT $3500, especially when I summarize everything in incomes and expenses, interest for each loan etc. (I spend 2 weeks to prepare everything myself before handing to the accountant).
I am in Brissy but if the accountant is in anywhere is fine.Hi
Try mulraney's of Mooloolaba Sunshine Coast
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