My wife and I recently had our income tax returns prepared by Halletts for the first time. I had two returns to prepare, my wife had one.
My tax returns are very straight forward - I had two group certificates and no more than a dozen receipts. My wife's return is also simple - she's a public servant with an investment unit. No shares, no other property, no trusts, no arrangements of any kind. You can imagine our surprise when we received a bill for inexcess of $1,500. Apon querying the amount the following cost break down was provided:
Item Hourly Rate Duration Total Cost
Meeting (13/04/2011) + (09/06/2011) Including completion of paperwork to have QS report prepared for rental property $330 1.7 Hours $561.00
Preparation of Income Tax Returns
A 2009 + 2010 Income Tax Returns;
B 2010 Income Tax Return including rental property schedule $159.50 4.6 Hours $733.70
Manager Review of income tax returns
A 2009 + 2010 Income Tax Returns;
B 2010 Income Tax Return including rental property schedule $330 1.0 Hour $330.00
Partner Review of income tax returns
A 2009 + 2010 Income Tax Returns;
D 2010 Income Tax Return including rental property schedule $385 0.4 Hours $154.00
Various emails and telephone calls to follow up missing information $330 0.8 Hours $264.00
Total Time Costs $2042.70
You can see from the hourly rates and totals why I feel I have been ripped off.
I accept this is a case of buyer beware and I should've asked for an indication of the cost prior to engaging their services. However, I believe the figures are well outside the bounds of what is considered reasonable and wish this to serve as a warning to others.