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RB TAX VS ETAX (now myTax)
20.Jun.2016 Tax Accounting | Accounting

RB TAX VS ETAX (now myTax)

RB Tax vs ETAX – The end of the financial year is only a matter of days away and for most of us that means hell yes, tax return is basically free money and I’m going to Bali. You’ve all got two options: do it yourself via ETAX (now myTax), or get an accountant to do it for you. If you’re going the accountant route, you’ve got two more options: hire a CA or CPA qualified accountant, or see one of the other guys. What are the differences between all of the above?

ETAX (myTax)

Pros: well this one’s obvious. You don’t have to pay for it.

Cons: you are almost guaranteed to miss out on deductions. This means less money back. Which means less time in Bali * cries *. You’ll enter your details, submit the return two hours later (eugh) and wonder “hmm did I do that right?”. You also only have until October 31st to get it together and lodged, as opposed to using a registered Tax Agent who gets you an extension until May 2017 in most cases. Also, good luck creating your myGov account, that sounds like fun.

THE OTHER GUYS (POTENTIALLY NON-QUALIFIED ACCOUNTANTS)

Pros: to be honest there are no pros. Some firms allow staff with only 17 weeks training at a “Tax Preparation Course” to process your tax returns. Risky!

Cons: an accountant without a CA or CPA may be fresh out of uni and lacking experience, or has chosen not to further their education and will be far less knowledgeable than someone with the qualification. The cons here are quite similar to myTax – missing out on deductions, feeling uneasy about it. Then there are the stuffy offices, rushed appointments and sterile approach. You’ll often be overcharged too.

CA or CPA QUALIFIED ACCOUNTANTS AT RB TAX

Pros: The pros are, these guys are pros. Knowledgeable, experienced and passionate. We have an easy sign up process; can have meetings in the comfort of your own home, sort your return over the phone, or come in and have it done at our new office located in Narre Warren. You’ll have the relief of knowing it’s all done by the book and you will receive the best tax return possible. Be treated like friends, rather than just another number.

Cons: you might be thinking, yeah cool but how much? Individual returns start from just $110, which you’re likely to make back with your bigger return alone. The best part is though; this expense is tax deductible next year!

Here’s the gist: RB Tax qualified accountants = more money and more time in Bali.

bali-island

Any questions? Give us a call or simply sign up online!

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