New data released by recruiting website ServiceSeeking.com.au has indicated that tax time is officially the worst time of year for almost half of Australian taxpayers, with 49 per cent voicing their hatred of completing their annual return.
Coupled with 49 per cent of Australians believing they pay an "unfair" amount of tax, it is no surprise that there is an unspoken angst and attitude towards tax agents, with 22 per cent indicating that they simply dislike their current accountant.
Responses from more than 4,000 ServiceSeeking.com.au customers found that over 50 per cent have had more than two accountants, while eight per cent have burned through a staggering four accountants.
ServiceSeeking.com.au CEO Jeremy Levitt said the new financial year is often the time for taxpayers to take stock of their current relationship with their tax agent.
"Maybe you didn’t get as big a deduction as in previous years, or you might find it unpleasant to speak to your adviser over the phone or by email," said Mr Levitt.
"Tax time is often the time you’ll go back to market to find a new tax agent."
Mr Levitt noted that more than half of all jobs listed for an accountant on ServiceSeeking.com.au are posted between the peak tax months of July and September.
Quote prices themselves are likely to fall, however, with July being the cheapest month to get a tax return completed at an average price of $95. The price stays under $100 for August and September before jumping to $105-$122 during the course of the year.
"The interesting thing here is that the quoted price actually falls for July through September, which runs counter to most normal markets; high demand usually pushes prices up," Mr Levitt concluded.
Are you thinking of expanding your offering into SMSFs to grow your client base? Become a pro at SMSF fundamentals and make your clients bulletproof with the SMSF Foundations course. Learn directly from Aaron Dunn from Smarter SMSF as he deep-dives into the fundamentals you need to know to successfully undertake your work as an SMSF practitioner. Earn up to 21 CPD hours! Learn more