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How much should an accountant charge to lodge an annual payment summary with the ATO?

Discussion in 'Money matters' started by rach, Aug 10, 2012.

  1. rach

    rach New Member

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    Hi Everyone,

    My accountant has just come back to me with the fee of $330 + GST, it seems a lot when I suspect he can generate what he needs from our accounts system (Xero).

    But I'm not sure and I would be interested in feedback- somewhat urgently as it's due next week!

    Thank you!
  2. rach

    rach New Member

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    Re: How much should an accountant charge to lodge an annual payment summary with the

    I've just heard from him and he said he was allowing for around an hours work to do this job. Thanks for any feedback
  3. KarenC

    KarenC Well-Known Member

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    Re: How much should an accountant charge to lodge an annual payment summary with the

    $330 sounds normal for someone who knows what they are doing and with whom you can converse? I pay $550 which includes mine and my husband's (which is a simple one for him). It also includes some free advice via emails throughout the year whenever I have a query as to what to put in for tax eg when I purchase a Capital Asset.

    Sorry - you just said, Annual Payment Summary? Don't know about that one - I was talking about our annual tax returns which check all my GST payments etc and adjustments as well.

    .
  4. nominal

    nominal Active Member

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    Re: How much should an accountant charge to lodge an annual payment summary with the

    You can submit the PAYG summary by yourself straight to the ATO using an SBR enabled accounting software.

    Last time it took me about a minute to do :)

    If you don't know what SBR enabled software is - see my signature.
  5. StellarScott

    StellarScott Active Member

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    Re: How much should an accountant charge to lodge an annual payment summary with the

    Hi Rach

    It sounds like you might need a professional bookkeeper to do your for bookkeeping function and let the accountant charge his $330 per hour for high level professional advice.

    As Karen says some people pay $330 to have their tax return done so seems excessive to lodge payment summary
  6. rach

    rach New Member

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    Re: How much should an accountant charge to lodge an annual payment summary with the

    Thanks everyone- I should have mentioned that it's just for the annual PAYG payment summary not complete end of year.

    I checked with another provided and they quoted $150, so I suggested that to my accountant and he was fine with it.

    I'll go with that this time and do a bit more homework when I have some time up my sleeve!

    Thank you for your replies

    Rachel
  7. bennos

    bennos New Member

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    Re: How much should an accountant charge to lodge an annual payment summary with the

    Hi Rach

    I was asking the same question a while back. Can't remember if I asked it on this website though.

    My accountant charges $280 to lodge it, the ASIC annual fee is slightly less. I asked about this and they said it was due to making changes and work performed throughout the year. I had no changes and zero activity with my company throughout the year. They mentioned I can lodge it myself if I want but they will still charge $175 because my company is registered with them.

    I am currently looking for a new accountant, not because of that (was one factor though) but a few other reasons too.

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