How Much Does an Accountant Cost in Australia? A Simple Guide for Everyday Australians

Hiring an accountant might seem like a luxury, but for many Australians—whether you’re a student, a sole trader, or managing a growing business—it’s often a smart financial move. The cost of an accountant varies based on your needs, but the peace of mind and potential savings they offer can be invaluable.

Understanding the Basics: What Do Accountants Charge?

In Australia, accountant fees can vary depending on the complexity of your financial situation and the services you require. Here’s a general breakdown:

• Individual Tax Returns: Typically range from $100 to $300.

• Small Business Tax Returns: Can cost between $1,500 and $5,000, depending on the business size and complexity.

• Bookkeeping Services: Hourly rates usually fall between $25 and $60.

These are average figures, and actual costs can vary. For instance, at Perfect Accounting, individual tax returns start from just $66, making professional accounting services more accessible.

Services Offered by Accountants

Accountants provide a range of services beyond just filing tax returns. Understanding these can help you determine what services you need and how much they might cost.

1. Bookkeeping

Bookkeeping involves recording and organizing financial transactions. It’s essential for businesses to maintain accurate records. At Perfect Accounting, bookkeeping services start at $50 per hour, with monthly packages available based on transaction volume.

2. Business Activity Statements (BAS)

BAS are submitted to the Australian Taxation Office (ATO) to report and pay goods and services tax (GST), pay as you go (PAYG) installments, and other taxes.

• Sole Traders: Starting from $88 quarterly

• Companies/Trusts/Partnerships: Starting from $110 monthly

3. Individual Tax Returns

For individuals, especially those with straightforward financial situations, tax return services can be quite affordable. Perfect Accounting offers basic tax return services starting at $66, covering simple salary income, government payments, and standard deductions.

4. Student Tax Returns

International students residing in Australia for over six months are considered residents for tax purposes and must file student tax returns. Perfect Accounting provides specialized services for students, ensuring compliance and maximizing potential refunds.

5. Loan & Finance Advice

Navigating loans and financing options can be complex. Accountants can offer guidance on securing loans, understanding interest rates, and managing repayments. Perfect Accounting acts as a trusted intermediary, connecting clients with suitable loan options.

6. Sole Trader Services

Sole traders have unique accounting needs, from managing business expenses to ensuring compliance with tax obligations. Perfect Accounting offers tailored services to support sole traders in managing their finances effectively.

7. Self-Managed Super Funds (SMSF)

Managing an SMSF requires adherence to strict regulations. Accountants assist in setting up, managing, and ensuring compliance. Perfect Accounting provides comprehensive SMSF services, from setup to annual tax returns.

A Real-Life Example

Consider Sarah, a Melbourne-based teacher who owns a rental property. She managed her taxes independently for years, unaware of potential deductions. After consulting with Perfect Accounting, she discovered she had been missing out on $4,300 in yearly deductions. This significant saving was achieved by leveraging the expertise of a property tax accountant.

Step-by-Step Guide to Hiring an Accountant

1. Assess Your Needs: Determine the services you require—be it tax returns, bookkeeping, or financial advice.

2. Research Providers: Look for reputable accounting firms like Perfect Accounting.

3. Check Qualifications: Ensure the accountant is registered and experienced.

4. Discuss Fees: Understand the fee structure—hourly, fixed, or package-based.

5. Schedule a Consultation: Meet with the accountant to discuss your needs and gauge compatibility.

✅ Why Choose Perfect Accounting?

• Affordable Pricing: Services starting from $66

• Certified Professionals: A team of experienced and certified accountants

• Comprehensive Services: From individual tax returns to SMSF management

• Client-Centric Approach: Tailored services to meet individual needs

• Multilingual Support: Services available in English, Urdu, Gujarati, Punjabi, Persian, and more

Ready to Simplify Your Finances?

Whether you’re an individual, a student, or a business owner, professional accounting services can make a significant difference. Perfect Accounting offers affordable, comprehensive, and personalized services to help you navigate your financial journey with confidence.