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Tax returns lodged by tax agents have increased this tax season, says H&R Block.
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Tax agents defy industry gloom
27 October 2014
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7 minute read
H&R Block said that ATO figures indicate there has been an increase in electronic lodgements through tax agents so far this tax season, while an estimated seven million taxpayers have received $15 billion worth of refunds.
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This is all despite an estimated 500,000 taxpayers being removed from the tax system since the increase in the tax-free threshold last year, the accounting network said.
Regional director of H&R Block, Mr Frank Brass, said “There is no doubt the message is getting through to taxpayers that registered tax agents ensure they get their tax return correct, avoid penalties and ensure they get all they are legally entitled to”.
Mr Brass also said that tax agents are attracting more clients who recognise they need to avoid issues that they often face when preparing their own returns, including:
• Being up to date with the ever-changing tax laws and changing tax return forms
• Difficulty navigating and working through the ATO’s website and MyGov to determine the correct treatment of tax issues
• Heightened danger of audits and penalties if mistakes are made
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