If we are taking our activities on the ASX seriously, then we should train ourselves to understand our own financial affairs and do our own tax.
This is the same as being able to perform our own investment research, fundamental analysis, etc.
Similarly, if we are setting up trust structures, we should learn about this for ourselves.
Further, there are many free sources to help us learn, such as the ATO. We can apply for a private ruling about any relevant matter, such as about how aspects of trust law will affect us.
I do my own tax however lodge it thru a tax agent so I can obtain the tax agent payment deferral.
I give a letter to my tax agent, saying if the ATO find errors in my tax return, I will not take legal action against him for those errors.
