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#26 2015-09-09 10:09:18

RichardAL
Member
From: Perth, WA
Registered: 2015-08-18
Posts: 131
Trades :   15 

Re: Do you do your own tax?

Yeah, I do my own mainly because I have a problem with the fact that if you pay an accountant to do it and they mess it up, they're not liable - you are! What a joke....how is it that an accountant can charge a fee to do a job, mess that job up and have no liability? In effect accountants are just the government's tax collectors

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The following user says thank you for this post: petey

#27 2015-09-09 16:54:20

Chubbsng
Silver Stacker
From: Brisbane
Registered: 2015-04-27
Posts: 154
Trades :   22 

Re: Do you do your own tax?

RichardAL wrote:

Yeah, I do my own mainly because I have a problem with the fact that if you pay an accountant to do it and they mess it up, they're not liable - you are! What a joke....how is it that an accountant can charge a fee to do a job, mess that job up and have no liability? In effect accountants are just the government's tax collectors

They are not liable because they can only crunch numbers based on the information you have provided them. They can be liable if they get the numbers you have sent them wrong.


Party time is anytime and anytime is party time

WTB: Any ASEs & silver pandas. 1/10 gold pandas. Any interesting or well priced Pamp gear.

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#28 2015-09-09 19:10:20

rjimlad
Member
From: Melbourne
Registered: 2015-07-21
Posts: 33
Trades :   

Re: Do you do your own tax?

I don't do my own law and I don't do my own tax. Agree totally that you should have a good lawyer and a good accountant. My accountant has mystical properties that astound me. He made my HECS debt disappear, gets me returns I couldn't imagine getting myself and keeps me on the straight and narrow with the ATO. Worth every cent.


_____________________________________________________________
What you call paranoia, I call 'acute situational awareness'.

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#29 2015-09-09 20:02:36

Golightly
Silver Stacker
From: The end of space and time
Registered: 2013-10-04
Posts: 1,405
Trades :   22 
Website

Re: Do you do your own tax?

I'm on my 3rd accountant in 2 years, Everything from registering the wrong business name to the pay software we used not working for 2 months. I can do my own myself but business I cant. From the stories I hear from others as well most accountants are completely inept


If you want a vision of the future, imagine a boot stamping on a human face - forever.

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#30 2015-09-10 16:22:57

petey
Silver Stacker
Registered: 2010-05-18
Posts: 1,149

Re: Do you do your own tax?

Golightly wrote:

I'm on my 3rd accountant in 2 years, Everything from registering the wrong business name to the pay software we used not working for 2 months. I can do my own myself but business I cant. From the stories I hear from others as well most accountants are completely inept

Very true, but find the right one and stick with them!

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#31 2015-09-10 18:21:56

hiho
Silver Stacker
From: South Brisbane
Registered: 2011-04-04
Posts: 8,100
Trades :   270 

Re: Do you do your own tax?

willrocks wrote:

I do my personal tax return myself. My wife is an accountant, and was a registered tax agent. but she's too conservative for my liking.

quadruple tautology big_smile

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#32 2015-09-10 18:22:42

hiho
Silver Stacker
From: South Brisbane
Registered: 2011-04-04
Posts: 8,100
Trades :   270 

Re: Do you do your own tax?

did mine first time this year and its been 25 days and no return yet sad

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#33 2015-09-11 11:08:28

Askari
Silver Stacker
From: Brisbane
Registered: 2015-03-17
Posts: 230
Trades :   15 

Re: Do you do your own tax?

For those who do their own returns, do you know whether I can take an immediate deduction for the bullion locker or can I only include it in the cost base once I sell?

Ironically, I just sat the CA tax exam. I think I failed...

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#34 2015-09-11 12:06:46

RichardAL
Member
From: Perth, WA
Registered: 2015-08-18
Posts: 131
Trades :   15 

Re: Do you do your own tax?

Chubbsng wrote:
RichardAL wrote:

Yeah, I do my own mainly because I have a problem with the fact that if you pay an accountant to do it and they mess it up, they're not liable - you are! What a joke....how is it that an accountant can charge a fee to do a job, mess that job up and have no liability? In effect accountants are just the government's tax collectors

They are not liable because they can only crunch numbers based on the information you have provided them. They can be liable if they get the numbers you have sent them wrong.

Glad to hear that they can be liable.

Even so, every year there are grabs in the paper based on some intrepid reporter sending exactly the same information to a number of different accounting firms and each firm coming up with a different figure - large differences. They don't produce the same result, despite being fed identical input and their get out of jail clause is that the actual taxpayer is liable and the ATO goes with that.

The real problem is that it's very difficult to find an accountant that will work for the client as opposed to their own self-interest!!! Same goes for everyone I guess.

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#35 2016-07-30 09:06:09

Goldhamster
Member
From: Australia
Registered: 2009-10-01
Posts: 60
Trades :   

Re: Do you do your own tax?

Talking about inept accountants , my ex got confused and couldn't correctly convert ounces to kilograms since my name is Troy.

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