Tax minimisation the legal way

Paying no more tax than you have to comes down to claiming what you're entitled to and setting things up the right way. A registered tax agent can look at your deductions, investments and business, and work through it with you, within the law. Not sure where to start? Answer a few quick questions and we'll connect you with one.

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Tax minimisation at a glance

What a tax agent does

A registered tax agent can prepare and lodge your tax return, deal with the ATO for you and advise you about your tax.

What it costs

Tax agents charge for their work, so ask for their fees up front. The cost of managing your tax affairs, such as a tax agent's fee, is generally tax deductible.

Stay within the law

Be wary of schemes that promise big tax savings. The ATO warns that some arrangements sold as ways to cut tax are illegal, and penalties can apply.

What a tax agent can help with

People commonly see a tax agent about:

  • Claiming the work-related deductions they're entitled to
  • Rental property deductions, including depreciation
  • Capital gains on property or shares
  • Business tax, GST and Business Activity Statements (BAS)
  • Choosing a business structure, such as a sole trader, company or trust

The tax agent looks at your situation before advising you.

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Good to know

Deductions need proof

To claim a work-related expense, you must have spent the money yourself, it must relate to earning your income, and you need a record of it.

Keeping records

Keep receipts and records for your deductions. The ATO generally asks you to keep them for five years from when you lodge.

Lodgment dates

If you lodge your own return, it's usually due by 31 October. If you're on a registered tax agent's client list before then, you may have longer.

Business structures

Sole traders, partnerships, companies and trusts are taxed differently and come with different legal responsibilities.

Is it worth using a tax agent?

General points only. The tax agent looks at your situation before advising you.

A tax agent can help you

  • Claim the deductions you're entitled to
  • Plan ahead for capital gains on property or shares
  • Set up and run your business tax properly
  • Deal with the ATO on your behalf

Worth keeping in mind

  • Tax agents charge for their work, so ask about fees first
  • You're still responsible for the information you give them
  • Check their registration with the Tax Practitioners Board
  • If a tax scheme sounds too good to be true, it probably is

General information only. It isn't credit, financial product or tax advice.

Three simple steps

  1. Answer a few quick questions

    Your home, income and super as rough ranges. It takes about 2 minutes.

  2. We pass it on

    With your consent, we send your request to a registered tax agent in our network, who contacts you within 3 business days.

  3. You decide

    Talk it through, ask questions and decide whether to go ahead. There's no obligation.

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Tax minimisation FAQs

Is tax minimisation legal?

Arranging your affairs within the law, such as claiming the deductions you're entitled to or choosing a suitable business structure, is legal. Schemes set up mainly to avoid tax are not, and the ATO can apply penalties. A registered tax agent can tell you the difference.

Is a tax agent the same as an accountant?

Not always. Many accountants are registered tax agents, but only registered tax agents can charge a fee to prepare and lodge a tax return for you. You can check on the Tax Practitioners Board register.

Are tax agent fees tax deductible?

Generally, yes. The ATO lets you claim the cost of managing your tax affairs, including a tax agent's fee, in the year you pay it.

When is my tax return due?

If you lodge it yourself, usually by 31 October. If you use a registered tax agent and are on their client list before 31 October, you may be able to lodge later.

How do I check a tax agent is registered?

Search the Tax Practitioners Board register. Registered tax agents are listed with their registration number.

See all FAQs

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