We’re not rorters say accountants

Tax accountants have fought back against what they say are claims by Federal Opposition leader, Bill Shorten, that the deduction of accounting fees are a rort.

Chartered Accountants Australia and New Zealand tax leader, Michael Croker has vowed that tax deductions are not a rort and that they are a right.

Reacting to Shorten’s reported statement, he stated: “You have the right to not pay too much tax and you have the right to claim navigating arcane, complex, changeable tax laws as a deduction’.

Related News:

Croker’s statement said he believed accountants were owed an apology by Shorten.

“You have reached the bottom of the political barrel when you are attacking not the people who are dodging tax, but the gatekeepers making sure Australians aren’t paying too much tax,” he said. “Accountants are one of Australia's most trusted professions, and for a politician to kick off a campaign by attacking our integrity is, to say the least, a bit rich. “That said, given we are exchanging free advice now, the political strategy of name-calling an entire profession is questionable and divisive.”

“Let’s be clear that it’s not just millionaires who claim more than $3000 in tax compliance costs – it is also Mums and Dad’s going through one-off life events. It’s the people who invest and need to assess taxation, depreciation, capital gains and other implications. It's the migrant or expat Australian with foreign income.”

Croker said the ALP wanted to introduce sweeping negative gearing, franking credits, retirement and other tax increases, then attacked the industry that ensured compliance.

“To deny Australians a tax deduction for the full cost of dealing with ATO compliance and audit requirements is unfair and creates a David v Goliath situation,” he said. “Australians deserve to seek the advice of their accountants and any party that stands in their way is not giving them a ‘fair go.’”




Related Content

Should accountants fill advice gap?

The Institute of Public Accountants (IPA) believes it is accountants who should be filling the advice gap in Australia and has developed what it descr...Read more

Accountants baulk at more industry funding for TPB

While financial planners have expressed concerns about falling under Tax Practitioners Board (TPB) jurisdiction, accountancy group CPA Australia has t...Read more

We’re not rorters say accountants

Tax accountants have fought back against what they say are claims by Federal Opposition leader, Bill Shorten, that the deduction of accounting fees ar...Read more

Author

Comments

Comments

More cultural marxist poison being peddled by Shorten and his ilk.

More the issue are the rorts, and conflicted remunerations, received by many of the politicians advocating such changes, for their own political purposes!

Yep it is rubbish and oh so predictable. But divide and conquer at work, accountant’s in the firing line now but they were happy to sink the boot into financial planners and mortgage brokers. no sympathy here - it is all too late.

Let me think. About 30 days out before the election. An accountant has about 6 hours of face time with clients during the day and sees them for about 30 minutes tops. So that's about 12 appoints times with five days a week over the next say 30 days which equates to 1800 appointments and there are about 180,000 accountants that's about 32 million appointments in which accountants will say DON'T VOTE FOR LABOR. less of course appointments with school teachers. When it comes to teachers there is only two certainties ceasing work between 55 and 58 and voting labor.

shortentaxlosers.com.au My website. Why have you guys taken so long to come out against Shorten and Labor for banning fees above above $3000 as a rort ? Can you also comment on the Labor policy for 75% capital gain on 98% of property and 100% of shares and property to be put in your tax return ? 30% tax on Discretionary Trusts. Have any of you guys as financial advisers told your clients these Labor proposals ? How will you as advisors survive if you honestly advise your clients 75% of gains to be put in tax returns ?

Add new comment