Cheap tax agents and tax accountants
Find a tax agent or tax accountant with low fees to help you get more money back on your tax return.
Key takeaways
- A registered tax agent may be able to lodge your return after 31 October under the ATO's lodgment program, depending on your circumstances; otherwise 31 October applies.
- Average fees for a simple tax return range from $150 to $250 which is tax deductible.
- Using a registered tax agent may give you a later lodgment due date under the ATO's lodgment program (depending on your circumstances) and can help you stay on track and avoid penalties.
What is a tax accountant?
Accountants are professionals that specialise in expenses, financial audits, and other finance-related information. They may operate independently, providing advice to individuals, or they may operate within a business, performing bookkeeping duties. Accountants can act as tax agents (and then be referred to as tax accountants), but in order to do so they must be registered with the Tax Practitioners Board.
Finder survey: How do Australians file their taxes?
| Response | Male | Female |
|---|---|---|
| I do it myself | 45.68% | 41.72% |
| I use an accountant | 34.77% | 35% |
| I don't file taxes | 12.03% | 15.52% |
| I use a specialist service (eg. HR Block) | 4.89% | 4.31% |
| A family member or friend does it on my behalf | 2.44% | 3.28% |
| Other | 0.19% | 0.17% |
Source: Finder survey by Pure Profile of 1113 Australians, December 2023
What is a tax agent?
A tax agent is a specialist you can use to prepare and lodge your tax return. They can represent their client when dealing with the Australian Tax Office (ATO). Tax agents can assist you to get the most money back from your tax return. They must be registered with the overseeing organisation for tax professionals, the Tax Practitioners Board (TPB), to charge a fee for their service (although this fee is tax deductible). Every tax agent accredited by the TPB meets the Board’s qualification and experience requirements.
How much do tax agents cost?
The fees charged will vary between different accountants and also will depend on the type of tax return you're lodging. A basic, individual tax return may be relatively affordable, although more complex returns will cost more. When choosing a tax agent, make sure you check if their fees includes unlimited deductions or if there are extra fees to claim extra deductions. Some might charge extra for certain types of complex transactions, like investment property deductions.
Is it worth getting an accountant to do my taxes?
You don't need an accountant to do your taxes, especially if you're a regular PAYG earner and you have standard claims. Using the MyGov platform, you can navigate the tax return process fairly easily and many of the details are pre-filled. It's important to note that using an agent doesn't guarantee you a bigger tax return – but it does give you access to advice. They might be able to provide you with guidance on deductions you didn't even know you were eligible to claim.
You may also benefit from the additional time to lodge you get when using a tax agent; you may be able to lodge later than 31 October if you use a registered tax agent (depending on your circumstances and your agent's lodgment schedule), instead of lodging by 31 October if you lodge personally. Failure to lodge a tax return in time can result in penalties that start at $330.
Expert insight
"A tax agent can provide guidance around eligible tax deductions and tax offsets, which may vary depending on your profession and industry. As well as assisting you with your tax return compliance obligations, tax agents often act as a soundboard for questions you may have around matters such as salary sacrificing, tax minimisation, employee share scheme arrangements, working overseas, asset protection and other tax or financial matters. When you have a question, it is advantageous to have a tax agent you can speak to."
How much should an accountant charge for a simple tax return?
Fees for a simple, straightforward tax return vary by provider and your circumstances. This cost will vary depending on where you live and the complexity of your tax return. This fee is fully tax-deductible on next year's tax return, because you're paying for it in the current financial year. i.e. you can claim the fee in the income year you pay it.
How do I find a cheap tax agent or accountant near me?
To find a good accountant, seek out several quotes from different sources and consider the following features:
- Fees. How much do they charge to complete a basic tax return? Do they charge extra for deductions?
- Types of returns. Can they perform more complex tax returns, such as those required by SMSFs, small businesses, sole traders and people with various income streams (if this is what you need)?
- Credentials. Make sure they are registered with the Tax Practitioners Board
- Qualifications. Check they have a relevant university degree such as accounting, commerce or law and how long they have been operating.
- Speed. How long will it take them to complete your tax return? For basic returns, it may be relatively quick — but the time can vary depending on your situation. But if the process feels unusually rushed or you're not asked for supporting details, it can be worth asking more questions about how your return is being prepared.
- Delivery mode. Can they help you online or over the phone, or do you need to visit their office?
- Hours of operation. If you work standard business hours, it can be beneficial to find a tax agent open on weekends or available for online appointments.
- Reputation. Do they have good reviews from past clients (you can read these online)? Do you have any family and friends that have had a good experience with them?
- Do they specialise in any area? Some tax agents may specialise in tax returns for students, backpackers, seniors, immigrants and emigrants.
What are the main benefits of using a tax agent?
- Takes the stress out of completing your tax return.
- Saves you time, as they lodge your return for you on your behalf.
- You can claim the cost of a tax agent as a deduction the following year.
- You may be able to lodge later than 31 October if you use a registered tax agent, depending on your circumstances and their lodgment program. If you do your own tax, your return must be submitted to the ATO by 31 October (or the next business day if it falls on a weekend).
- A tax agent can also provide personal advice in areas of taxation law.
- Many tax accountants can help lodge your tax return online, without needing to go into their office.
Any cons of using a tax agent?
- There is a fee for their service (this is tax deductible, but you'll still need to pay upfront).
- They will not provide general financial advice that isn't to do with tax.
- You still need to collect and provide receipts, invoices and other evidence of your claims.
What qualifications should my tax agent have?
Tax agents must be registered with the Tax Practitioners Board (TPB) before they are able to charge for their service. Some practitioners can give advice and act as tax agents without being registered, as long as they are operating under a group that is registered by the TPB.
To be eligible as a registered tax agent, the individual must have a good record with no recent convictions, involvement in tax exploitation, ongoing bankruptcies, or imprisonment. Once registered, practitioners can bear the TPB registered symbol. You can find registered agents by visiting the Tax Practitioners Board website.
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I have a corporation in Australia that owns one property in Sydney. The only income is the monthly rental fee from one tenant and the expenses are that of the maintenance and upkeep of the property. The property has two bank accounts. I need an accountant to do the preparation and lodgement of the company tax returns. How much annual fees am I looking at annually?
Hi Tom,
Thanks for your inquiry
The fees you’ll be paying will depend on the tax agent handling your case. It would be best to consult with a professional tag agent in order for you to get an estimate of these fees.
Hope this information helps
Cheers,
Arnold
I had income from companies and I worked as a sole trader.
I have logged through ATO but couldn’t process business part.
Would you introduce a cheap tax agent?
Hi Jongsoon,
Thanks for your comment.
You’re on the right page! You can view tax agents, their services, and fees on the table on this page. Or you get in touch directly with a tax agent.
Hope this helps.
Clarizza
A client has consulted a tax agent in relation to penalties and interest charged for late returns.
The agent wishes to charge the normal hourly rate plus a success fee that is a percentage of the penalties which may be remitted.
Is a success/bonus or contingency fee allowable?
Hi Rolf,
Thanks for your question.
The agent is legally able to do this per the Taxation Administration Act which allows you to claim back any expenses incurred by managing tax. You can also claim interest charged by the ATO on late payment of taxes and penalties.
Please note, as a comparison site, the advice we provide is of a general nature only.
I hope this helps.
Clarizza