My son started working two years ago and was posted away from home for a year. To get all the tax deductions he is entitled to, I advised him to use an accountancy firm for his first tax return. He employed H&R Block at their Carlingford Branch and got great service. That is why he chose to go back again this year.
The accountant he dealt with last had moved on, the new one was not so switched on. He changed the return disallowing all car expenses, because the registration is not in his name - wrong advice that could have cost my son almost $3,000. (He does not claim any rego or depreciation, just his own employment related running costs with full logbook and receipts). He has already paid $200 for the initial session (where the deductions were included). My son had to point the accountant to the ATO website explaining car deductions and this is still not sorted. I would love to ask for the money back and let my son prepare his own return as he seems to be more capable, but the fight to obtain a refund is not a comfortable thought.
What recourse do we have for wrong financial/accountancy advice? Everyone, check your tax returns if they have been prepared by an accountant, you might know more about the basic tax law than they do.