Costs forcing accountants to disengage with | Australian Markets
Financial advisers usually are not the one professionals unloading decrease worth purchasers, with accountants additionally acknowledging having to make powerful choices within the face of growing laws and better prices.
The scenario has been made clear by Chartered Accountants ANZ in a submission to the Taxation Ombudsman’s review of the Australian Taxation Office work plan.
CA-ANZ raised particular points with the ombudsman, together with difficulties accountants encountered in dealing with the ATO.
“Our members are concerned about difficulties in resolving matters with the ATO in a timely manner, inconsistent and sometimes aggressive approaches by the ATO, and the functionality of Online Services for Agents,” it mentioned.
“These matters impose administrative costs which result in higher fees for taxpayers and or/higher costs for tax practitioners.”
“When higher costs cannot be passed on to taxpayers, tax practitioners must make difficult decisions about disengaging clients, leaving some taxpayers without needed tax practitioner assistance,” CA-ANZ mentioned.
The main accounting physique mentioned it had undertaken a survey of members asking them to vote on their high 4 precedence areas for 2026 which had garnered 464 responses.
That survey revealed the next as priorities:
- ATO’s management of remission of basic curiosity charge (66%)
- ATO’s Client-Agent Linking system (65%)
- ATO’s management of compromised accounts (46%)
- ATO’s Online Services for Agents 43%
The submission additionally famous that 46% of respondents had listed pay day superannuation as a high precedence, noting that CA-ANZ and different industry our bodies have been calling for a two yr delay to the beginning of the new regime.
“Much needs to be done from a legislative and system perspective to ensure that Pay Day Super can be implemented appropriately,” it mentioned. “Given the strong push to delay the start of Pay Day Super, it may be more appropriate for this proposed review to be put on hold.”
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