What does a tax agent do?

Tax agents are responsible for the preparation and lodgement of tax returns on behalf of their clients. Tax agents collect information relating to their client’s personal income and expenses and lodge tax returns with the aim of minimising their liability. Some daily duties performed by a tax agent are: liaising with clients on tax matters, advising on potential methods to maximise tax return, assess the legitimacy of the information provided by their clients and lodging tax returns with the ATO.

Tasks:

  • Collating client information
  • Preparing tax returns
  • Advising on ways to maximise return
  • Lodging tax returns

What skills do I need to be a tax agent?

Being a tax agent requires superb organisational skills and a keen attention to detail. A tax agent must have a procedural work flow, ensuring all steps in the lead up to the lodgement of a tax form are completed. Similarly, a tax agent’s attention to detail is also very important. Authenticating the legitimacy and accuracy of the paperwork provided to them before it is lodged to the ATO is an essential precaution that must be taken in order to avoid giving false or misleading documents to the ATO.

Skills/attributes
  • Up to date with changes in taxation legislation
  • Attention to detail
  • Highly organised
  • Ability to meet deadlines
  • Strong numerical skills

Specialisations

If you are considering a career in accounting their are a number of specialisations available to you. You can tailor your career paths to your own personal interests and forecasted career progression.

Bursar

Bursars provide accounting assistance for educational organisations and can advise on a number of business and financial matters. Bursars have a thorough understanding of the regulatory requirements set out by the ATO and their specific relation to educational institutions. Bursars provide an array of services like bookkeeping, compiling tax information, advising on financial matters and fundraising.

Accountant

Accountants provide a wide array of financial services for businesses and individuals alike. Accountants advise on a number of financial matters, ensuring that their client’s financial documents are kept in order. Accountants will inspect the income and expenditure of their clients whilst also preparing documents for their eventual lodgement with a tax agent.

Liquidator and Receiver

Liquidators and receivers are brought in to resolve financial matters in a business experiencing financial hardship. They will often advise companies what action to take in the lead up to foreclosure or bankruptcy. They ensure companies cease operations within legal boundaries and assist companies at the brink of bankruptcy with selling assets.

Study pathways for chartered accountants

Choosing a specialisation that suites your interests is the best step to picking a study pathway you’ll enjoy. Finding the right course will equip you with the relevant skills and qualifications you need to start your career.

Getting Started

Choose a study pathway that will help you toward your career goals

Skill Building

With targeted study options, gain insight into the accounting sector

Professional Development

Gain essential accounting skills while you study

Industry Recognition

You will need to hold qualifications in tax accountancy in order to practice as a tax agent in your state

Getting a job after graduation

Put your training to good use and get the best professional head start in your accounting career. Emphasise your personal strengths and achievements in your resume and target your cover letter to the job description listed.

Job Prospects and Salaries

There is very strong growth in accountancy employment opportunities forecasted over the next five years.