Do you do your own Tax

[Reasonable]

And if you do, why?

 

[Howard Littlejohn]

Yes. Because its simple.
No applicable deductions, other than charity stuff, and no investment income.
Why pay to get a 5 minute job done?

 

[Reasonable]

Yes. Because its simple.
No applicable deductions, other than charity stuff, and no investment income.
Why pay to get a 5 minute job done?

What do you do for a living?

Secondly, financial services are a tax write off.

 

[nicolbolas]

do my own, have accounting degree. May as well get some use from it!!!

Cheers

 

[Brad Goodman]

Do my own, takes 5 minutes online.

 

[Midnight Vultures]

Bro in law is an accountant so I shout him some Jimmy to do it for me.

 

[1jasonoz]

Yeh i have always done my own; my wife recently had her's done by an accountant. She got the completed return for her to sign with a corresponding tax owing of about $33,000 when i pointed out to her that her accountant had not applied a section of the tax act to reduce this tax owing down to about $8,000.

She sent the unsigned return back to her accountant with a note on the front re the relevant section and for them to redo it; it was returned about a week later with this taken into account and her tax owing reduced to about $8,000.

 

[Reasonable]

Do my own, takes 5 minutes online.

What do you do?

 

[Reasonable]

Yeh i have always done my own; my wife recently had her's done by an accountant. She got the completed return for her to sign with a corresponding tax owing of about $33,000 when i pointed out to her that her accountant had not applied a section of the tax act to reduce this tax owing down to about $8,000.

She sent the unsigned return back to her accountant with a note on the front re the relevant section and for them to redo it; it was returned about a week later with this taken into account and her tax owing reduced to about $8,000.

Dissappointing to hear, CA or CPA?

 

[1jasonoz]

Dissappointing to hear, CA or CPA?

I'm not sure i have never dealth with him nore had my tax done by him; but something a simple as the exemptions for a primary residence re short term rental use which he had been involved with should have turned a light bulb or 2 on in his head!

 

[Reasonable]

I'm not sure i have never dealth with him nore had my tax done by him; but something a simple as the exemptions for a primary residence re short term rental use which he had been involved with should have turned a light bulb or 2 on in his head!

For future reference should you feel the need to use an accountant steer clear of the CPA.

 

[Brad Goodman]

What do you do?

Job? Financial analyst.

At uni I did a course with the ATO to become an accredited volunteer tax return doer for other students who needed assistance but couldn't afford to pay for an accountant. Wasn't allowed to do anything more complex than franking credits though.

 

[1jasonoz]

Job? Financial analyst.

At uni I did a course with the ATO to become an accredited volunteer tax return doer for other students who needed assistance but couldn't afford to pay for an accountant. Wasn't allowed to do anything more complex than franking credits though.

I still am amazed at the number of people whom have no understanding of franking credits and how they work!

 

[CranktheAnchors]

For future reference should you feel the need to use an accountant steer clear of the CPA.

It doesn't make much of a difference its up to the individual accountant doing the job they are taught the same way.

 

[Frodo]

No

My company accountant does it.

Although I could do, simply.

But, with accountant any tax underpaid is not due until May. So it helps cash flow a little.

 

[Frodo]

For future reference should you feel the need to use an accountant steer clear of the CPA.

Why on earth would you say that.

I know many CPA's that knock the spots of CA's

All down to the person

 

[ben_cats_fan]

Secondly, financial services are a tax write off.

In the proceeding financial year it must be said.

I do my own, however, tax is a major part of my job

I'm a junior at a ICAA accounting firm here in Hobart and they're always bagging out CPAs. I wouldn't go making statements like that if I were you mate because as someone else said, it's the individual that matters!

 

[Chief]

No I get an accountant, he (or rather his underling) is expensive but he gets every deduction and makes suggestions to help reduce tax. He set up my company/family trust etc.

 

[ben_cats_fan]

No I get an accountant, he (or rather his underling) is expensive but he gets every deduction and makes suggestions to help reduce tax. He set up my company/family trust etc.

Those darn underlings. You'd think they'd be cheaper than what they are huh

 

[Reasonable]

Why on earth would you say that.

I know many CPA's that knock the spots of CA's

All down to the person

I sincerely disagree.

The level of scrutiny is so much higher at a CA firm that this idea that it's down to the individual does not hold any weight.

Of course if you trust an individual accountant then you leave yourself open to human error.

 

[Caj]

It doesn't make much of a difference its up to the individual accountant doing the job they are taught the same way.

Not quite, I know CPA have adjusted their training to bridge the gap with the ICAA over the last 5 - 10 years, but I can assure you that the CPA program is nowhere near as difficult or time consuming as the CA program.

 

[Eagle87]

I sincerely disagree.

The level of scrutiny is so much higher at a CA firm that this idea that it's down to the individual does not hold any weight.

Of course if you trust an individual accountant then you leave yourself open to human error.

Are you serious?

Which CA firms are you talking about? Joe Bloggs and Co in the suburbs or Deloitte?

While some FIRMS have higher standards of review than others, the notion that a CA is somehow automatically superior to a CPA would only be repeated by a 22 year old pleb at some Big 4 firm.

On the "trust an individual accountant" comment, weren't you the one who said "For future reference should you feel the need to use an accountant steer clear of the CPA" ..?

No reference to firms but rather to "an accountant". So now you have said something stupid AND contradicted yourself. One assumes you must be a CPA?

The reality is that most of the larger firms (Big 4 and second-tier) have a fair percentage of CPA's right through to Partner level.

 

[Reasonable]

Are you serious?

Which CA firms are you talking about? Joe Bloggs and Co in the suburbs or Deloitte?

While some FIRMS have higher standards of review than others, the notion that a CA is somehow automatically superior to a CPA would only be repeated by a 22 year old pleb at some Big 4 firm.

On the "trust an individual accountant" comment, weren't you the one who said "For future reference should you feel the need to use an accountant steer clear of the CPA" ..?

No reference to firms but rather to "an accountant". So now you have said something stupid AND contradicted yourself. One assumes you must be a CPA?

The reality is that most of the larger firms (Big 4 and second-tier) have a fair percentage of CPA's right through to Partner level.

Are done champ? Get your rocks off?

You didnt read what I said. The last time I checked, the big 4 had their time filled by some fairly large clients and weren't market leaders in terms of personal tax returns.

And I dont think I ever said to trust an individual accountant, in fact I said that if you do you leave yourself open to human error CA or CPA.

Merely pointed out that the level of scrutiny at a CA firm was much higher, having worked in both.

I think you're a bit of muppet looking for a fight, so I'll let you keep swinging.

Take it easy killer.

 

[Eagle87]

Are done champ? Get your rocks off?

Not yet.

You didnt read what I said. The last time I checked, the big 4 had their time filled by some fairly large clients and weren't market leaders in terms of personal tax returns.

My Big 4 point was simply that Deloitte (as an example) do have quite high standards as regards QA. Joe Bloggs & Co in the suburbs on the other hand is not different because of a CA or CPA designation - but rather is based on a case by case basis.

In fact CPA Australia has a much larger budget than CA and spends a much larger amount on QA reviews that the CA's ..... but you being an expert would be across that (having worked in both) ...

And I dont think I ever said to trust an individual accountant, in fact I said that if you do you leave yourself open to human error CA or CPA.

Actually you said: "For future reference should you feel the need to use an accountant steer clear of the CPA." ... Typically "an" is a word used to describe the singular, rather than the plural. You disagree?

One suspects you have been called on your grandiose statement and have since been backpedalling at great speed.

I think you're a bit of muppet looking for a fight, so I'll let you keep swinging.

Take it easy killer.

*giggling* I'm a muppet?

You start throwing stupid comments about and want them unchallenged?

For the record, I have been a expert training provider for over a decade to both bodies and numerous of their member firms and have been a Partner in a large (the type that dont do individual returns) firm.

You however have worked in both types, so I'll take your point

Your a tosser who chose to make a silly statement and cant back it up. A fight with you would be somewhat one-sided, since you have nothing....

That what you were looking for, champ?

 

[azreal]

I used to do my own, back in the days of the tax pack and the supplement, then i tried doing it online, then i had an accountant do it for a few years, and I did last years online which seems a lot easier/faster than it was in the past. Mine is fairly simple though.