Accountants - Qualifications and Knowledge
What types of services are available?
Alice Tax are able to assist individuals and businesses with a full range of specialised accounting services such as:
- General business accounting
- Preparation, lodgement and review of tax returns
- SMSF services (setup, taxation and audit)
- Business entity setup (companies, trusts and partnerships)
- Ongoing tax planning
- General business advice
- Asset protection advice
Service Fees and Payment
For an individual client engaging us for a tax return, a starting fee will be advised for the work before it commences. If you are a business client, then we will discuss the scope of work involved and we may send you an engagement letter outlining the contracted rates at the time. Please do take note that unexpected or added work that was not mentioned in the initial scope will attract further fees. When discussing your requirements with our team, please take the time to prepare a clear brief so that we can provide a most accurate estimate.
Individual tax return clients who engage us will pay for their services at the time of engagement. Typically a business client will go through a basic process so that we may establish a credit approval.
What does 'Registered Tax Agent Status' mean?
There is common confusion over the various titles in the taxation industry including CPA, IPA and Chartered Accountant. An accountant can fulfil the required criteria and go on to become a member of one or more of these membership organisations. Please note, this is not the same as Registered Tax Agent status.
The accountants within the Alice Tax network belong to different bodies including CPA. However, it is Registered Tax Agent Status that allows for the completion of tax affairs and the charging of a fee for service.
The Tax Agent status means that that we must satisfy the Tax Practitioners Board and ensure that the required formal qualifications and thorough experience has been obtained.
Tax Advice Services
Like any other professional service, our advice utilises an accountants time and resources and therefore involves a fee. A significant difference in legally minimising tax payable can therefore be obtained by engaging a tax professional who can offer good advice in this area.
As we are a professional group, we are unable to provide free advice. Should you need free advice, we strongly suggest you contacting the Australian Tax Office (ATO), and they are able to assist in most general cases relating to taxation. You can contact the ATO via their website www.to.gov.au
Deductions and Tax Refunds
As we are a Registered Tax Agent, we are legally required to completely comply with legislation and policy. At all times we work within the law to maximise tax refunds and at the same time, reduce your tax liability.
To do this, we will conduct interviews, ask you in depth questions and ask for documentation to support your case and claims. Legally, an accountant can only work with information that can be supported or proven. The ATO could conduct an audit and ask to see documented evidence in support of your tax return and it’s possible this may happen quite some time after lodgement.
It is your responsibility (the taxpayer) to keep all supporting evidence and prove that all information is true and correct.
In the event that you are not satisfied with your tax refund, we ask that you do consider that your accountant and complied with the law in every instance. Penalties for false information can be severe and this is the responsibility of the client and not the accountant.
Should you choose to seek the opinion of another accountant then that is your choice, although please do be aware that a professional service has been given and any fees outstanding are still payable for the time and work involved.