The market in Australia for the provision of bookkeeping, accounting, administration and tax services to small businesses has changed in recent years. Most small business now want their bookkeeper/accountant/tax agent to be the same person or firm. This fact presents both an opportunity and an exposure to those providing bookkeeping services to that market place.
The opportunity for public practicing bookkeepers that results from this trend is firstly the potential expansion of their revenue base if they offered a broader range of services to existing clients. Because you have a close working relationship with your clients it is highly likely that they would bring their tax work to you if you were in a position to provide that service. You probably already get asks several times a week if you would please do their tax (and BAS) returns as well as the bookkeeping.
The reason for your client’s keenness for you to do both the bookkeeping and the tax returns is that your clients are sick of standing in the middle between their bookkeeper and their tax agent fielding questions from both with neither the knowledge or interest to provide the answers. The inherent inefficiency of such an arrangement is obvious to them as business people and the high nuisance value of being told different things by different service providers makes them keen to use a provider who is able to handle both the bookkeeping and the tax work.
This issue also provides an exposure to your bookkeeping practice. If they are asking you, their bookkeeper, whether you can do their tax work then they are most likely asking their tax agent whether they can do their bookkeeping as well. So, offering a full range of services can both protect your existing client base as well as attract new clients to your practice.
Tax Agent Pathway offers you the opportunity to immediately start providing tax services to your clients by supervising your preparation of their tax and BAS returns. You effectively become a consultant and work under their guidance but you are the only person with direct contact with your client base.
Perhaps more importantly the work that you do under that supervision counts towards you obtaining the relevant experience required by the TPB for you to obtain your own Tax Agent License.
Contact us or call Tax Agent Pathway today on 03 8456 1461 or email Tax Agent Pathway at sales@taxagentpathway.com.au.
