How much does a personal tax accountant cost?

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Price guide

$100 - $400

low

$100

median

$250

high

$400

Low, median and high bar chart distribuiton

If you just started your own business, tracking your finances can be confusing and challenging. Navigating the complex legal processes involved in running a business can already be a handful, especially tax return filing. At times like these, a tax accountant can help. But how much does an accountant cost in Australia?

Hiring an accountant for tax return filing usually costs $100 to $400 per hour. It could be higher and lower, depending on the purpose of the consultation. Whether you’re cramming to file taxes or just want to keep your financial records accurate, this guide will help you set a budget for hiring a personal tax accountant.

Tax accountant price list

Type of accounting service

Price

Personal tax return

$100 to $400

Business tax return

$300 to $1,000

Business advisory

$150 to $700

Bookkeeping

$50 to $300

BAS lodgement

$160 to $490

two women computing taxes

What factors affect tax accountant costs?

Numerous things affect tax return accountant costs in Australia. The top factors to consider are business size and timing, your location, and the type of service. Each factor will be discussed below.


Business size

When it comes to business, the general rule applies: the bigger and more complex your business is, the more items the accountant needs to review. For an annual tax return, the average cost for personal use is $100 to $400. Services for a business tax return cost $300 to $1,000. 

Of course, how much accountants charge for filing tax returns could go higher if you have bigger business and higher earnings, if you have other income-generating streams, or if you have a fluctuating monthly income.


Business timing

If you are near the deadline for tax return filing, the cost of hiring an accountant to do taxes also increases. It’s best to always consult an accountant ahead of time to save yourself the stress of cramming and the added costs of speeding up the service.


Your location

How much a personal tax accountant costs would also differ depending on your area. The starting cost in Western Australia is higher than in the rest of Australia. Bear this in mind while preparing your budget for tax accountant fees.

State

The average cost of tax accounting

New South Wales (NSW)

$100 to $260

Victoria (VIC)

$110 to $250

Western Australia (WA)

$130 to $265

South Australia (SA)

$100 to $235

Queensland (QLD)

$100 to $250


Type of accounting service

The cost of hiring a tax accountant is also affected by the type of service to be availed of by an individual or a business. Services tax accountants commonly offer are tax returns, business advisory, and BAS lodgement. Each of these will be further discussed below.

Different types of tax accounting services and their costs


Tax return

A tax return is the most common service provided by tax accountants. Hiring a professional will help you save money by claiming all eligible tax deductions and other expenses. In Australia, a personal tax return service costs $100 to $1,000, depending on your business structure:

  1. For personal tax returns, costs range from $100 to $400
  2. For sole traders, costs range from $180 to $500
  3. For a company or small business, costs range from $180 to $1,000


Business advisory

Business advisory prices range from $180 to $70, depending on the need for business and planning depth. This service is often used by businesses to gain insights on how to grow and save more money. It also provides small and big businesses with sound financial planning and useful investment advice.

See also: Financial Advisor Cost Guide


Bookkeeping

Bookkeeping costs start at $50 but could go as high as $300, depending on the number of transactions. Professional bookkeepers help in various business processes, such as data entry, payroll processing, invoice management, expense management, tax compliance, and reporting.

 
Tax accounting services can be requested on an annual or quarterly basis. On average, annual services cost $150 to $250, whilst services quarterly services are cheaper and start at $120 up to $250. If you have a small business that requires more than one service, you can also book a service bundle or a package to further save on costs.

a male accountant calculating taxes

Additional costs to consider when hiring a tax accountant

Other services such as administrative support, business consulting, and management will also increase costs. Basic administrative support and accounting services start at $35 per hour. Complex business consulting is more expensive, with a retainer fee of around $600 per month.

Reasons to book a professional tax accountant

Financial management is a serious business. Minor inaccuracies can result in legal sanctions. Hiring a professional accountant will help you get peace of mind knowing that your calculations are accurate and all the deadlines are met in advance.

You can also seek help in automating repetitive administrative tasks and setting up accounting software. Tools such as Xero make cash flow tracking and bookkeeping so much easier by syncing payroll, bills, and other payments in one place. Accountants can generate quick, comprehensive reports and analyses to help you further grow your business. 

Finally, a professional accountant can advise you on claims and transactions and tax-saving strategies. Hiring one can help ensure that your business abides by new or current government regulations.

Post a task for tax accounting

Filing your taxes doesn’t need to be stressful. Hiring a tax accountant is definitely a good investment, from filling out all the forms to checking if all valid expenses are claimed. If you are ready to take the next step, Airtasker can connect you to trustworthy accountants near you.

Price guide

$100 - $400

low

$100

median

$250

high

$400

Low, median and high bar chart distribuiton

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FAQs

To file your tax return successfully, your accountant will need to have your bank statements; payment summaries; buy and sell investment statements; and foreign income details. They might also need documents on your work-related costs, health insurance policies, and donations. 

When hiring a tax accountant, check if they're a member of an association like Chartered Accounts for Australia and New Zealand to ensure they are legitimate and experienced in the field. Online reviews from past projects can also give you an idea of the performance and expertise of an accountant on the job. On Airtasker, you’ll be able to view ratings and reviews of previous partners and effectively select a Tasker who will meet your accounting needs.

The length of a tax accountant's engagement depends on the complexity of the job. If you have clean and complete bookkeeping, the duration of the service could go as quickly as two to three working days. However, if it’s your first time filing taxes, it might take a couple of weeks. Note that this can be longer if you require services other than tax return filing or start the engagement during the busy season.

To file your tax return successfully, your accountant will need to have your bank statements; payment summaries; buy and sell investment statements; and foreign income details. They might also need documents on your work-related costs, health insurance policies, and donations. 

The length of a tax accountant's engagement depends on the complexity of the job. If you have clean and complete bookkeeping, the duration of the service could go as quickly as two to three working days. However, if it’s your first time filing taxes, it might take a couple of weeks. Note that this can be longer if you require services other than tax return filing or start the engagement during the busy season.

When hiring a tax accountant, check if they're a member of an association like Chartered Accounts for Australia and New Zealand to ensure they are legitimate and experienced in the field. Online reviews from past projects can also give you an idea of the performance and expertise of an accountant on the job. On Airtasker, you’ll be able to view ratings and reviews of previous partners and effectively select a Tasker who will meet your accounting needs.

It's free and takes only a minute.