In his Budget reply speech last year, Labor announced that those seeking tax advice from an accountant will not be able to claim more than $3,000 as a tax deduction on that advice. Accountants are pushing back hard against the policy, arguing that the cap will cause them to rush their work and that clients will pressure them to cut their fees to the cap amount. From The AFR:
Vivian Wang, director at R E Ledger in Perth, said Labor’s proposed cap failed to recognise the time and effort that went in to giving reliable tax advice, which could easily surpass the $3000 mark.
