Hi All I just have a question in regards to costs of Accountants for a tax return:
I am PAYG in a Government job;
I would also like a rough guide on the cost per rental property.
Thanks
Probably around $200 per property from a cheap accountant
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
It’s a kind of a “how much will it cost to fix my car?” question. It really depends on your records.
Most accountants will charge an hourly rate for a rental schedule. The schedules really aren’t that complicated, and if you keep a spreadsheet of your costs it really shouldn’t take your accountant more than half an hour for a single property.
That said, some client’s with large portfolios ( > 10 properties) are extremely well organised and it only takes a few hours to prepare their ITR’s. Other’s organisation (record keeping) skills are particularly average. When you have to chase down costs (phoning agents, body corporates, etc) and ‘extrapolate’ for clients with large portfolios the job can easily take a couple of days.
My advice is to keep good records (a spreadsheet is best) and make sure your accountant charges you an hourly rate.
Mine isn't cheap – but the advice and service is more than worth it.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
my mate pays $40,000 pa for his tax – 2 companies, a trust, personal and smsf.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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