The Australian Tax Office has recently released their statistics from the 2013-2014 financial year.

The report found that 74.2% of lodgments were completed by Tax Agents.

Tax Agent Gold Coast

Source: ATO

 

This is a trend that has slowly been increasing since 1985-86.

Tax Agent Gold Coast

Source: ATO

 

What are the benefits of using a tax agent of accountant to do your tax return?

A qualified accountant or tax agent knows all the ins and outs of completing a tax return. This means they know exactly how to fill out your lodgment so that your return is done correctly. Getting one of our accountants to do your return this financial year will save you time and probably some frustration.

What did the report find about Self-Managed Super Funds?

The report also found that while the number of Personal Superannuation contributions to Self-Managed Super Funds has decreased in the 2013-14 financial year from the 2012-13 financial year from 281,271 individual contributions to 279,068  individual contributions, the total amount has actually increased from $15.14 billion to $16.39 billion. This is great news as it means Australians are looking to the future and focusing on building their superannuation funds. The total number of Self Managed Super Funds has also increased from 838,508 to 843,309 with the total balance of these funds increasing from $443.65 billion to $482.63 billion. (Source: ATO)

 

Talk to one of our experienced Gold Coast accountants today about setting up your own Self Managed Super Fund or completing your tax return.

Keeping track of expenses