Should i bother try doing the cgt calc myself or get an accountant?
Get an accountant.
too complicated for diy?
I'd say yes for two reasons. If you get it wrong and you under pay CGT, then the ATO can apply penalties and interest to the shortfall. (That's if they find out)
On the other side, an accountant will work out the amount of the capital gaijn, and may find amounts that can be added to the cost base that you may hafve missed, reducing the amount you thought you would have to pay.
I agree that you should get an account – but you could try to estimate it yourself. Accountants will hopefully find you more to claim and do it correctly.
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Thanks. I think i will go down the accountant route.
Following on from this, any views on whether the ITP's and H&R block people are any good for this? When i call other practicing accountants they bad mouth these organisations. But surely a lot of people still benefit well from their services…
MrsC wrote:Thanks. I think i will go down the accountant route.Following on from this, any views on whether the ITP's and H&R block people are any good for this? When i call other practicing accountants they bad mouth these organisations. But surely a lot of people still benefit well from their services…
I think it depends on who you see at these organisations. They are cheap, and the staff are generally not as experienced as CA or CPA firms. The problem is they usually do the basic returns, and their training is geared towards these types of returns.
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