Ok...just got accounts for the preparation of tax returns. We changed accountants this year after being charged thousands in the past.
2 private returns, including one investment property....Total $360 (previous accountant ... (Thousands)..!!
SMSF...including audit...Total cost...$3625....(previous $5300) (previous amounts from memory, not checked against old accounts yet, but close)
We are in front.
However.....The accountant mentioned an amount in some account which had to be 'moved around'. He didn't know what it was (nor did I)...just a leftover figure from somewhere. We are both in pension phase in SMSF. To do this he moved it out, then reverted fund to accumulation phase for a day only as you can't contribute when in pension phase. I didn't quite get the gist of it all but I asked him whether this had any implications on us as I seemed to recall that there was something that meant that you had to be in pension phase by 1 January this year, or else. I think it is something to do with Centrelink and assets or income being counted.
We receive no pension or part thereof from Government. Hubby pension age, myself not there yet. Hubby approved for Seniors Health Care Card end of last year. It's too late if there is an implication as he has lodged returns.
Have we stuffed up here? If so, I will need to speak to accountant, although there will be nothing we can now do.
