Are Accounting Fees GST free?
The Brief Answer
It would be very rare for accounting fees to be GST free.
This is because most accountants would have likely registered their services for GST. While not every Accountant is registered for GST, the circumstances in which they will not are extremely rare. Nonetheless, always be sure to check with your accountant about their services and deductible expenses.
Other Unique Circumstances
The only circumstances I can imagine where accounting fees would be GST free would be:
“Rare circumstances where the accountant is not registered for GST”
- Rare circumstances where the accountant is not registered for GST.
- If the accountant is based overseas.
Check with an accountant if you are unsure of their GST status. Or you can always find it out for yourself using the Australian Business Register (ABR).
That said, it is never a good idea to make assumptions; especially where accounting is concerned. Always make sure you have adequately sought the help from an appropriate professional.
Where to go from here?
Navigating tax law can be confusing if you do not know where to start. In these circumstances, it is encouraged that you seek the help of the appropriate expert.
At Accodex we have a team of partners that specialize in the area of tax, covering a range of industries. Whatever your accounting needs, we have a Partner that will help your business get back on track.
Keep in mind that this is general information and should ever only serve as a guide. As such it should not be taken as specific advice.
Always remember that legislation around tax is always changing. Chances are that the laws may have been updated since the publishing of the article.
This is why it is always best to consult with your local professional. Better yet, why not contact an expert from Accodex Partners.
Written By: Chris Hooper
Chief Executive Officer