5 Benefits of Using a Tax Agent

By H&R Block 3 min read

According to recent statistics, 74% of people who lodge a tax return choose to use an accountant or tax agent. With less stress, increased accuracy and maximum refunds, it's easy to see why the majority of Australians choose to lodge their returns with tax agents like H&R Block.

Let's face it, for those of us who aren't accountants, tax is a complex business, which is why many people prefer to leave it to the experts to get the best possible refund. If you're not an expert in occupation-specific deductions, it's probably unlikely you'll understand all the deductions you're entitled to claim.

Accountants and tax agents are trained to spot opportunities to get the most out of your tax return: quickly and accurately. And because the fee your accountant or tax agent charges is tax deductible – it pays for itself.

Here are five great reasons to engage with a tax agent:  

1. Time saver

While there are a fair few DIY online tax tools out there, nothing beats the convenience of sitting with your tax agent and getting the job done. While taking matters into your own hands may seem like the fastest way to lodge your taxes, DIY isn't always the best way. Your typical appointment with a tax agent takes around an hour. In that time, your tax professional will ask you a series of questions and review your documentation to secure the best result.

On the surface, you may think DIY lodging online is quicker, but for most people, this isn't the case. Once you add in the time to collate your information, look up your deductions and check to make sure you haven't made any mistakes, the process takes much longer than an hour.

To make the process as convenient and hassle-free as possible, it's important to come prepared to your appointment. This  tax return checklist  has a list of all the documents you need to get your taxes done quickly and accurately.

2. No stress

When you lodge your return yourself, the responsibility falls squarely on your shoulders. No matter how innocent or small the mistake, if the Australian Taxation Office (ATO) comes knocking, you may have to deal with an ATO audit and there will be fines, interest or penalties to pay. One of the biggest advantages of using a tax agent is that you get peace of mind. Choosing to lodge through an agent or accountant ensures you're compliant with tax laws and you can rest easy knowing your return has been accurately prepared.

If you choose to lodge with H&R Block, the buck doesn't stop at tax time. We're here 365 days if you need advice. Whether you're  getting married, starting a new business or catching up on late tax returns - we're here for you.

3. Extended deadlines

Using a tax agent in person not only buys you good advice but also time. If you lodge your tax return using a tax agent, the usual deadline of October 31st (that applies to self-lodgers) does not apply to you. Working with an agent means you potentially have until May the following year to complete your return.

4. The value of relationships

If you're a working Australian, there's no getting out of your taxes. As tax can be a complex and nuanced exercise, there's great value in building a relationship with your tax agent. As tax time nears, your tax agent will already have a solid understanding of your financial situation and can provide you with tailored tax advice to make the most of your money. As your circumstances change, your tax agent can offer advice and suggestions to help you maximise your finances and ensure you get back what you deserve.

5. Less complex

As Australia's largest preparer of personal income tax returns, we've learnt a thing or two over the past 40 plus years. One thing's for sure, all tax returns are unique. If you've got a complicated financial situation, getting the right advice can save you time, stress and unnecessary payments to the ATO. Sitting down with an accountant or tax agent is an extremely beneficial exercise; crucial to working out the intricacies of your finances and what you're entitled to claim.

If you've got several jobs, earn additional income through the sharing economy, run a business, own rental property or juggle an investment portfolio, using a tax agent is definitely worth it.

 How H&R Block can help

As Australia's largest preparer of personal tax, we're all about convenience. With more than 400 offices nationwide, you're never left without a time-saving option to lodge your return. Visit H&R Block to find your nearest office and book an appointment today!

Book an appointment online today

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