Bookeeping & Tax Agents


What Is The Difference Between A Tax Agent And Tax Accountant

The end of the financial year brings lots of worries with itself. Companies and corporations always dread the end and starting of the financial year as it brings with itself a lot of changes in government tax rules and regulations. Every country has its own predefined set of tax rules that are updated annually, it has minor complexities that a layman cannot understand even if he wants to. For this purpose companies and corporations hire tax agents and tax accountants that sort out their finances for them and look after the whole process of filing the tax returns to sorting out all the pre-requisites of taxation. For a corporation that operates on such a large scale, sorting out all the tax-related issues on its own without the help of an expert seems impossible. To get your tax planning up to date and keep financial matters in line it is necessary to hire a professional and enlist its help. Some matters do require a professional touch and companies do tend to go through a proper channel of paying taxes to avoid any confusion in the future.

You might have heard both the terms, tax agent as well as a tax accountant Chatswood. Both these are quite different from each other and have different duties and tasks to perform. Although some of the duties they perform are similar, the primary function of both of them is different from each other. To get a better understanding of both these professions below is the difference explained in detail below.

  • Tax Accountant

A tax accountant is a certified professional that is qualified in dealing with all the finances related to the taxation. He is permitted by a governmental organization to deal in the following field. A tax accountant is hired by individuals, companies, and organizations to file and prepare tax returns. They also do tax planning in which they implement policies on how a company can reduce its taxes yearly. He also deals with the company’s employee’s taxes and files them accordingly. It is a tax accountant’s duty to sort out all the legal matters of the company that are related to finance and taxation.

  • Tax agent

People often confuse tax agent with a small business accountant Sydney and take both of them as something similar, although they are not at all the same. Tax agent is appointed by the government and represent the government in a court of law. He serves the tax notice and looks over all the audit reports and tax filed by the companies. Tax agent does not require any specific degree or qualification but if he has any it is obviously a plus point. Tax agents’ works on the basis of experience and goodwill in the profession. Although they often represent the government and state private organization and individuals can also hire their services. They can suggest a tax paying plan and sort out the company’s finances by taking regard of their history.

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