How Much Does a Personal Tax Return Cost?

Despise doing taxes? Accountants to the rescue. By having an accountant perform your tax return, you can benefit from expert advice and save valuable time and money. Before you choose the right personal tax accountant, here’s how much you can expect to pay for a personal tax return in Australia.

The average cost of a personal tax return

A typical personal tax return in Australia will cost you between $100-$290, but costs can be higher or lower depending on various factors..

There is no one-size-fits-all fee since there are several variables that will impact your payment, such as your location, the complexity of your tax return and any additional services required.

Factors affecting cost

Location

Those living in more expensive states or big cities can expect to pay more for an accountant on average.

To help you determine the size of your tax bill, we’ve created a table of Australian states and the amount you can expect to pay for a personal tax return in each one.

Size and type of business

Your classification of business affects the cost, too. Many self-employed people in Australia are registered as soletraders, but a company, partnership, or trust return requires a more complex level of bookkeeping.

Likewise, personal tax returns will cost less than those for businesses. If you run a business with multiple employees, check out our handy article on business tax return costs.

Quality of existing accounts

Most business accountants will want to take a look at the current state of your books to see how much work is required. The more work they have to do, the more it’ll cost you. Keep your books in as good a condition as possible with plenty of detail to save your accountant time and save you money as a result.

For personal returns, make sure you have all of your income statements, invoices and receipts (for deductions) in order so you can save your accountant time and help reduce the overall cost.

The complexity of your return

If you have limited deductions, are an employee, or have a single source of income, your tax return will be simpler and, therefore, cost less.

Tax returns can become more expensive if you own assets such as a share portfolio, self-managed super fund or an investment property that earns income and is subject to capital gains tax once sold.

Holding assets in a trust will also increase the complexity of the return and, hence, the overall cost. In general, the more tax deductions you wish to claim, the more complex your return will be.

Additional services accountants offer

Accountants can provide a number of additional services, such as tax planning, business advisory, or help with an ATO audit or outstanding debt. If you require additional services, the cost of your tax return will tend to be higher.

Some typical costs of additional services include:

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