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It is more important than ever to obtain the right advice first time as:

·         changes to the Simplified Tax System are reducing tax audit periods to two years, limiting the amount of time available to rectify errors from poor advice

·         quarterly Business Activity Statements mean you can’t always “fix things” at year end. Reporting must be accurate throughout the year.

·         the ATO has increased audit activity on GST and income tax

·         with over 100 new pages of tax legislation every week, it is becoming increasingly important to employ an accountant who is up to date.

For these reasons 70% of individuals and 97% of businesses now employ an external accountant.