Cheap tax agents and tax accountants

A professional tax agent or tax accountant can help you lodge your tax return, claim every last cent on the tax deductions you're eligible for, and ideally help you get a bigger tax return. They can also provide advice for managing your taxes throughout the year and as an added bonus - the fee they charge you is completely tax deductible.

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.

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.

Finder survey: How do Australians file their taxes?

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 can be as low as $100, 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.

Do I need an accountant or tax agent?

What are the main benefits of using a tax agent?

• Takes the stress out of competing 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 can have until May the following year to lodge your return if you use a tax agent. If you do your own tax, your return must be submitted to the ATO before the 31st of October.
• 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.

How do I find a cheap tax agent or accountant that best meets my needs?

Finding a good tax agent is similar to finding a good quality service of another variety. 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 shouldn't take any longer than one hour. But if it's only, say 10 minutes this might also bee a red flag.
• 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 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.

Looking for more tax content and tips?

• Ultimate guide to complete a tax return
• Tax deductions 101
• Calculate your income tax
• Top 5 tax deduction tips
• Lodge your tax online
• Find a tax agent

Written by

Alison Banney

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

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Sarah Megginson

Head of editorial

As an authority on all things personal finance, Sarah Megginson is passionate about helping you save money and make money. She is an editor and money expert with 20 years’ experience and an extensive background in property and finance journalism. Sarah holds ASIC RG146-compliant Tier 1 Generic Knowledge certification, and she's a regular media commentator, appearing weekly on TV (Sunrise, Channel 7 news, Nine news), radio (KIIS FM, Triple M, 3AW, 2GB, 6PR) and in digital and print media. See full bio

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Sarah has written 193 Finder guides across topics including:

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