What to Look Out for When Selecting a Tax Agent

What to Look Out for When Selecting a Tax Agent

This is it folks, the last day of the financial year. Yes, we’ve been harping on about tax tips for the last month but EOFY does sit hand in hand with tax time so, can you blame us?

We’ve also written about EOFY sales if that’s more your speed, but regardless, if you made money this past year you need to think about tax.

This is why we’re bringing you yet another tax time story. On the agenda for this article: tax agents.

Tax agents are great, they do all the hard work on your taxes and often know all the ins and outs of getting a decent return. But finding a good one can be a challenge.

How to find a trustworthy tax agent

Tax agents are like hairdressers, if you find a good one you’ll keep going back.

That’s why the Tax Practitioners Board (TPB) has created a handy guide of hints for finding and vetting your tax agent in Australia.

It’s all too easy to get sucked in by someone masquerading as a tax agent who is really an unregistered practitioner and that can mean bad things for your money.

With something as important as your taxes you don’t want to risk it so this is what the TPB recommends:

  1. Check your tax practitioner is registered on the public register at www.tpb.gov.au/onlineregister.
  2. Never share your myGov password with anyone – doing so puts your personal information at risk. You should not be charged by anyone to lodge or prepare your tax return through your myGov account.
  3. Refer to the TPB’s useful guide to take the guesswork out of tax time.

The TPB guide in particular has the answers for any sort of tax agent you might find out there, so it’s worth checking out if you’re looking to find an agent.

If you have a tax agent, that will probably answer a lot of your questions about tax returns. But if you’re still looking for answers check out our first-time lodger’s guide and our list of things the ATO is looking out for in tax returns this year.

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