Best Tax Preparation Services

Tax preparation services can assist you in properly filing your tax return, claiming all of the tax deductions that you are entitled to and obtaining a larger tax refund. They can also assist and advise you on how to manage your taxes year-round. Did you also know that the tax agent's fee is fully deductible? So, is it worthwhile to hire them? Read about the pros and cons below. Read more…

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Xero

Xero

3.8 from 842 reviews

Easily reconcile invoices and bills for an up to date picture of your business. Get a clear view of your cash flow forecast and have confidence in your numbers. Start your free trial today!

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H&R Block

H&R Block 🏆 2024

4.8  (6,866) Summary
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FRUSTRATED MOVER
FRUSTRATED MOVERNSW35 posts
 
H&R Block
H&R Block   DM   
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Etax Accountants

Etax Accountants 🏆 2024

4.7  (7,607) Summary
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barry w.
barry w.NSW3 posts
 
Etax Accountants
Etax Accountants   DM   
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Future Assist Group of Companies

Future Assist Group of Companies 🏆 2024

4.7  (812) Summary
AnnR
AnnRNSW
  Verified
MYOB

MYOB

3.9  (3,354) Summary
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lee w.
lee w.
 
AVOID AVOIDAVOID AVOID Terrible software! my clients do not receive very important business invoices to keep my cash flow alive. AVOID AVOID

this is the 3rd time this has happened and we have to send manually.

will be changing who we trust our online accounting service with.

MYOB
MYOB   DM   
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Xero

Xero

3.8  (842) Summary
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Paul M.
Paul M.
 
The Best!I have tried them all and Xero is the best accounting and Practice Management software by far
Tax Today

Tax Today

4.6  (38) Summary
Tia
Tia
  Fair Incentive
Perfect serviceKind employees and very helpful, they make the process very easy
TaxShield

TaxShield

4.7  (22) Summary
Kaps
KapsVIC3 posts
 
Tax Depreciation ReportTax depreciation report done well and on time by TaxShield
Beyond Accountancy

Beyond Accountancy

4.5  (15) Summary
Fran
Fran3 posts
 
Efficient and Patient!Paul Iannello guided me through some late tax returns. He was efficient, reassuring and patient - explaining things several times over if I didn't understand. Paul and admin staff were very kind. I definitely recommend his services.
Platinum Accounting & Taxation

Platinum Accounting & Taxation

4.6  (13) Summary
Madison
MadisonVIC
 
Excellent serviceCorinne has been so helpful with my taxes over the past few years, especially since mine have been quite complicated. Would definitely recommend her services!
accountico

accountico

5.0  (10) Summary
Gurpreet Kaur
Gurpreet KaurVIC2 posts
 
Tax Solutions Brisbane

Tax Solutions Brisbane

4.1  (13) Summary
Dr. Manuel Jose O.
Dr. Manuel Jose O.
 
Very poor communicationI engaged Dmitry Gibkin as my tax accountant. But he did not even bother to answer my emails. This was also experienced by my wife who also engaged him as tax accountant. This demonstrates very poor service and a lack of regard for clients. For sure, I will NOT be using him or Tax Solutions Brisbane again.
Focus Taxation and Accounting

Focus Taxation and Accounting

5.0  (4) Summary
Summi Rathi
Summi Rathi
 
FatihaWe have been using focus taxation service for last 10 years and Fatiha is doing wonderful job since then. She is a great help.
Thank you so much
DigiTax

DigiTax

5.0  (3) Summary
Nakel
Nakel
 
A very Competent AccountantThe only Accountant I trust his very vigilant and values his customers look no further you will not be disappointed. Show reply
Power2 Brisbane

Power2 Brisbane

5.0  (3) Summary
Donni
DonniQLD
 
Source Accounting Australia

Source Accounting Australia

4.0  (4) Summary
jeff
jeffMelbourne23 posts
  Verified
One Click Life

One Click Life

3.0  (6) Summary
Jamie
JamieWA3 posts
 
Easy As - Took 5-10 mins to sort with option to get immediate payout if I wantedEasy to use and mostly completed for you. Just had to update some deductions and it was done. Have read a couple of the other reviews (negative ones) and I don't think some people fully understand the process, Cant blame 1-click for others ignorance. See you next year :-)
Quick Tax

Quick Tax

1.3  (97) Summary
Janice Hill
Janice HillWA
 
PerfectHow long does it take to review my tax return
Tax7 Accountants

Tax7 Accountants

5.0  (2) Summary
Mihua
MihuaNSW
 
Great service!the consultant is very friendly and informative. He even wrote a list of expenses that i could claim in future to help me save taxes. I have got my tax back in less than 5 days!! Fantastic service definitely recommended Show reply
Mehdi O.
Mehdi O.VIC2 posts
  Fair Incentive
My accountant companyThey have been handling our tax returns since 2010. I never had any issues. Kargar and his team do their best to maximise your tax return. They listen with care and give best solutions for your financial situation.
If you are looking for a great and affordable accountant, I would certainly recommend Kargar & Associates to you.
Byford Accountants

Byford Accountants

5.0  (2) Summary
ColnS
ColnSWA2 posts
 
simply the bestused Byford Accountants the last 3 years, Ashley is a wiz wont be going anywhere else ever
General Taxation Services

General Taxation Services

3.7  (3) Summary
Baz Hendo
Baz HendoQLD
 
Great service, highly recommendGTS was recommended to me from another business in the auto services industry. True to form, GTS have been great. Saved my business plenty in tax and can't speak highly enough of them. 5 stars
Ezytaxback

Ezytaxback

3.7  (3) Summary
nellie1019
nellie1019VIC
 
Great serviceI find Ezytaxback highly reliable and have been using their service for many years. Connor helped me a lot and for this, I am grateful. For those who complained, have some patience. They do their job well.
Hinkler Accounting

Hinkler Accounting

3.0  (4) Summary
Lynette A
Lynette AQLD
 
The Kalculators

The Kalculators

2.6  (5) Summary
Krystal
Krystal2 posts
 
Avoid at all costsMy meeting for my tax return took all of 5 minutes where the consultant asked no questions was not helpful I could of saved myself some money and just done it myself
City Tax Accountants

City Tax Accountants

2.3  (6) Summary
jordanmoy000
jordanmoy000NSW
 
Tax Refund On Spot

Tax Refund On Spot

1.4  (19) Summary
Fairlie
FairlieNSW5 posts
 
Padre
PadreHastings2 posts
 
Very fast, efficient and reasonable pricePeter was excellent. He helped me through the particulars of my situation, and was very patient with me, even though I had lots of questions. The refund was excellent, and done very quickly. Happy to recommend to anyone.

JLA
JLAVIC17 posts
  Verified
Totally professionalI highly recommend Garry Heazlewood of Sixstar Budget Tax Returns 11 Wilson St Burnie Tasmania. 64313555. He is competent and ever so efficient. In a few weeks from my appointment I had my refund. My last accountant would take 4 to 5 months and charge me twice the fee.
ozimarco
ozimarcoWA37 posts
  Verified
AdvisorCorp

AdvisorCorp

5.0  (1)
TJ Singh
TJ SinghACT
 
Highly recommended for both tax and home loansSince we joined AdvisorCorp, we never have to worry about our tax returns. It's really good to have a professional team by your side when you need proper advice. Thanks, guys. TJ Show reply
Xero

Xero

3.8 from 842 reviews

Easily reconcile invoices and bills for an up to date picture of your business. Get a clear view of your cash flow forecast and have confidence in your numbers. Start your free trial today!

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Person filing an Australian tax return form

What can a tax preparation service do for you?

A tax preparer is a professional who works for a tax preparation business. They are qualified to calculate, file and sign individual and business income tax returns.

Reasons you need to lodge a tax return

There are several reasons why you might need to file a tax return such as the following:

  • Had any tax taken out (withheld) from the income you receive
  • Had $1 or more of foreign income
  • Are a liable or recipient parent under a child support assessment
  • Had business or investment income
  • Are leaving Australia and have a study or training support loan.

Tax agents are accountants who have received special training in how to prepare and file Income Tax Returns, and they are constantly studying tax so you don't have to.

A tax agent has more training and qualifications than a regular accountant. As a result, the Australian Taxation Office (ATO) allows agents to assist taxpayers and lodge tax returns, as well as gain access to special ATO systems.

A TPB logo, such as the one shown here, should be displayed by every registered tax agent, along with an official registration number.

TPB logo

Example TPB Registration #12345678

Pros and cons of hiring a tax preparation service

It is based on personal preference and circumstance whether you’ll fnd it worthwhile to hire a tax preparation service or not. Those with financial experience and expertise or those with a simple financial situation may find it more time-efficient and cheaper to do it themselves. However, for those filled with dread about the idea of filing a tax return, fret not because you don’t have to face it alone and you can get help from a tax professional.

You can save yourself hours of slaving over tax forms and scouring your house to find lost receipts and bills by bringing in a professional. Between house purchases and dealing with loans and multiple incomes, your financial situation may be complicated and it may be worth hiring someone to double check your finances for you.

This does not mean you cannot do your own taxes though as the difficulty in everyone’s tax return is different. Here is a summary of a few advantages and disadvantages to consider before hiring a tax professional. Each pro and con is explained in more detail below.

Pros
You will save time and effort by not having to fill out your own forms
The cost of a tax agent can be deducted the following year
If you use a tax agent, you can postpone filing your return until the new year. If you do your own taxes, you must submit your return to the ATO by October 31st
Tax accountants can help you online without you needing to visit their office
A tax agent can provide personalised tax advice in a variety of areas
Tax agents can help get you more tax back by claiming more deductions
Cons
There are many scams on the market
Chunky upfront cost
You are still held liable if your tax accountant makes a mistake
Can only assist you with taxation laws and not other financial matters

Key benefits of using a tax agent

Saves you time (and time is money)

The average person spends 20-40 hours on their tax returns, and many people spend more than that; that's a full work week's worth of time and money.

A tax professional, on the other hand, can work quickly and efficiently, saving you not only time but also the stress of calculating finances and finding old bills.

Simplifies complicated financial situations

It is not only difficult and confusing to file a tax return, but it is also constantly changing. Tax laws in Australia are updated regularly, making it difficult for the average taxpayer to keep up with all of the changes that may affect them. Situations like these can make your tax return more complicated, so you should consider consulting a tax professional if:

  • You own, sold, or are starting a business
  • You have many investments with losses and gains
  • Capital asset transactions (homes, cars, investment properties, stocks, bonds)
  • Real estate transactions
  • Change in marital status
  • Your income and residence are not in the same state or country
  • Self-employment income

Accurate and efficient work

Even if you enjoy managing your own finances and are capable of it, hiring an accountant to prepare your tax return may be a wise decision. A professional who can double-check your income, expenses and deductions can help you avoid costly mistakes. Two eyes are better than one.

Hiring a tax professional will not only provide you with a second set of eyes to ensure that everything is in order, but it will also put someone in your corner if you are audited.

Expertise

Let's face it: tax is a complicated business for those of us who aren't trained accountants, which is why many people prefer to leave it to the professionals to get the best possible refund. It's unlikely that you'll be able to spot all of the deductions you're entitled to if you're not an expert in occupation-specific deductions.

Accountants and tax agents are trained to look for ways to get the most out of your tax return in the shortest amount of time possible. It also pays for itself because the fee your accountant or tax agent charges is tax-deductible.

Cons of using a tax agent

They can be costly

While the cost of a tax accountant is tax-deductible, you will still need to pay an upfront cost. Prices to fill in and lodge the tax return on your behalf tend to range from $100 to $300+ depending on the complexity of your situation.

In addition to hourly fees that you will often incur, the price can quickly rise based on the complexity and paperwork required by your return.

You might hire a scam

If it sounds too good to be true, then it probably is.

Unfortunately, many scam artists start surfacing towards the 31st of October deadline, pretending to be tax advisors or the ATO themselves.

It’s worth reading reviews on a particular company and asking them to verify their certification number before handing over any personal information.

Also keep in mind that In reality, the ATO will never ask for personal information, including credit card details and TFN, by text or email. Nor will they ask you to pay money to access a refund.

They can still make mistakes and you’re still accountable

There's a reason you have to sign off on your tax return, even if it's done by an accountant. You're declaring that the agent completed the return correctly, and you're the one who bears responsibility.

If an issue arises later, and you provided the correct information to an agent, you can file a complaint with the Tax Practitioners Board. However, this will add to the amount of time, money and paperwork required.

To avoid this, make sure you hire a reputable service with a long-standing history of happy clients.

Tax help programme

ATO’s free Tax Help programme helps people earning $60,000 or less lodge their tax return online. If you need help lodging your tax return, you may be eligible for the Tax Help program.

Tax Help is a network of ATO-trained community volunteers who can help you prepare your tax return using myTax.

From July to October each year, accredited volunteers help people lodge their tax returns online. They can also help you:

  • Lodge amendments
  • Claim a refund of franking credits
  • Create a myGov account
  • Tell the government if you don't need to lodge a return

You can receive Tax Help online or by phone. You can also get help face to face from Tax Help centres across Australia.

What to look for when hiring a tax accountant service

Qualification

Tax agents must be registered with the Tax Practitioners Board (TPB) to charge a fee for their services. Every tax agent accredited by the TPB meets the board’s qualification and experience requirements so you can rest assured that you are in good hands. Look out for this qualification before hiring any tax accountant or service to avoid potential scams.

Fees and partial/full assistance

Take into consideration how much a company is charging for a basic tax return. These fees will depend on your tax needs and will take into consideration whether you’re a student, a sole trader, a senior citizen or are representing a business. Cheaper services start at $50, but these only include semi-assistance and involve reviewing your form before you submit it.

Full-assistance tax returns are normally done face to face and costs can range from $100-300.

Types of tax services

For those who don’t have time to visit a tax agent’s office during business hours, you can now opt for an online or over the phone service. On the other hand, you can go see your tax advisor in person if you require a more direct and comprehensive approach. For those struggling to choose between the two, you can opt for a combination of both to best suit your needs.

Timeliness and customer service

Reading reviews will give you a good indicator of how long a company will take to file your tax return and whether they stick to their promises. In the same vein, a company’s reputation is important to consider - something you can scope out by reading reviews on our website.

Specialities

Some tax agents may specialise in tax returns for students, backpackers, seniors, immigrants and emigrants. In addition, you might want to check out if they’re able to perform more complex tax returns, such as those required by SMSFs, small businesses, sole traders and people with various income streams.

You can read reviews on the best tax preparation services in Australia today on our website.

Disclaimer: The information on this website is for general information only. It should not be taken as constituting professional advice from the website owner - ProductReview.com.au. ProductReview.com.au is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the website information relates to your unique circumstances. ProductReview.com.au is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.

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