With the 2019 financial year weeks away from ending, it is time to start thinking about the dreaded “T” word: TAX.
For many people this can be a confusing and stressful time, the biggest question being: “Should I find a tax accountant, or should I do my tax return myself?”. Whilst it can be tempting to save time and money to do your return from the comfort of your home, the benefits of using a registered tax agent far outweigh any negatives.
For starters, the cost of seeing an accountant is deductible in the following year!! Another pro: you don’t have to do it. We get it, tax can be boring. Accountants also have an extended deadline to lodge your tax return, meaning the pressure and urgency is further reduced. They can help you find additional deductions (i.e giving you more money in your pocket!), and will be able to give you tips on how to make the process easier for next year. If you have any debt with the ATO, your accountant can also assist in negotiating a payment plan, making the burden much easier if you are on a tight budget. Last, but certainly not least, they can give you advice! Your tax accountant can help you to navigate the confusing world of private health insurance, investment property, shares and more!!
That’s right, by using a tax agent to complete your tax return you can actually be much better off in the long run. Who would say no to that?