Tax time is complicated, but it doesn't have to be as hard as you think. If you have an accountant or tax agent, they'll automatically take the time to complete your tax return and submit it on your behalf. They'll spot opportunities to get the most out of your tax return and make sure you get the best refund possible in the shortest amount of time. The fee your accountant or tax agent charges is tax-deductible; in fact, it pays for itself! Here are the best reasons to engage with a tax agent.
Top Advantages and Benefits of Working with a Tax Agent
1 - They Save You Time
Time is money, and your tax agent will save you plenty of both. By liaising with the ATO on your behalf, they can reduce the time it takes to complete and submit your tax return. They'll also be able to submit it earlier, which means you'll get your return sooner.
2 - No Stress Tax Process
Your tax agent will save you the stress of manually completing your tax return, submitting it, and waiting for the ATO to calculate your refund. Instead, you can sit back and relax and enjoy peace of mind knowing the accountant or tax agent will do the hard work for you. They'll also ensure that you don't need to provide the ATO with any additional documentation.
3 - Offer Expertise and Advice
Your agent will be able to use their expertise to offer you accurate advice, as well as to complete your tax return. They'll be able to identify areas of opportunity and can help you take advantage of tax deductions and allowances that you might not be able to take advantage of on your own. They can also help you find out what other deductions and allowances you may be entitled to but don't know exist.
4 - Get Extended Deadlines
Your tax agent can help you extend your tax return deadline so you have more time to collect the relevant documents and complete your return. This is particularly useful if you don't receive your annual payslip until after your tax return deadline. Your tax agent can liaise with the ATO to extend the deadline and give you more time to submit your return.
5 - Ensure You Don't Pay More Than You Have To
Your tax agent can ensure that you don't pay more than you have to in tax, including your tax return. They'll ensure that you're eligible for any concessions and deductions that you're entitled to and guide you in the right direction.
Conclusion
Hiring a tax agent is a great way to make your life a lot easier, and it means you don't have to spend a lot of your valuable time completing your tax return. This will free you up to spend your time where you like and take advantage of any opportunities that present themselves. You'll also get any necessary information to you faster, and you'll be able to get your refund sooner. Your tax agent will also be able to guide you in the right direction if you're entitled to additional benefits and concessions and want to make the most of your tax return. Tax agents are here to make your life easier, which is why you should always consider hiring one to complete your tax return.
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