How much does an Accountant Cost?

The cost of hiring an accountant somewhat varies by location and varies according to the type of consultation you seek. However, in most Australian cities and states, you can hire an accountant for anywhere between $50 to $350 per hour.
If you need an accountant for a complex business consultation, you must generally pay on the higher end of this scale.

Price Estimates for Different Types of Accountants

Certified Public Accountant (CPA)

In general, the CPA cost is higher than what you’d pay for a bookkeeper. For personal tax services, you should expect to pay about $65 per hour. However, the cost of an accountant for a small business is generally up to $75 per hour.

Forensic Accountant

A forensic accountant often works as an auditor or an investigator. They investigate financial records and check for fraudulent activity. They also work for individuals who wish to search for hidden assets in divorce cases. Expect to pay upwards of $350 per hour for a forensic accountant with years of experience.

Chartered Accountant

Chartered accountants work in finance and business, dealing with taxation, auditing, financial management and general management fields. Others work for the government or in the private sector or public practice. Chartered accountant fees generally range from $150 per hour to $500 per hour.

Tax Accountant

Most small business accountant fees are between $75 and $200 per job. However, more complex tasks may cost you more. If you have a large business and need extensive tax services, you may pay as much as $2,000.

What’s the difference between an accountant, a tax accountant and a bookkeeper?

Accountant

In general, accountants are responsible for analysing and allocating financial information. They may advise office managers, tax authorities and investors on how to manage resources.

There are three recognised professional accounting bodies in Australia. People who are certified by any one of these three types are considered to be qualified accountants. The three institutions are CPA Australia, the Institute of Public Accountants (IPA), and CANNZ (the Chartered Accountants Australia and New Zealand).

Tax accountant

Tax accountants are better trained to handle complex tax issues. Those who specialise in a specific function will often seek a Chartered Accountant (CA) qualification. A CA will typically focus on tax matters and auditing.

Bookkeeper

When it comes to financial transactions, bookkeeping is the record-keeping branch of such matters. In general, bookkeepers are responsible for keeping track of sales, receipts, purchases and payments by a person or business. Accountants can then make reports and consultations based on info gathered by bookkeepers.