Can I file a separate CGT return on ROS if I have an accountant doing my personal taxes?

[Rainman]

I have an accountant who does my personal taxes, and up until this year I did not have any taxable gains etc from shares/dividends. Can I file these separately myself? Even though the amounts involved are small, I'm not totally comfortable with his knowing about my holdings/dealings in the stock market.

 

[jpd]

Do you receive dividend income from these shares?
If so, they will have to be included on the Form 11

 

[Rainman]

Thanks for answering.
Yes.
Just want to know if I can file this myself on the Form 11, or does it have to go through my accountant.

 

[bstop]

You could submit an ammended return after the accountant has made your return.
You would just have to add in the dividends and capital gains.
The accountant would probably see the dividends and capital gains on the pre populated form 11 in the next tax year.

 

[jpd]

How can you rely on good advice from your accountant if you do not disclose relevant facts?

 

[Rainman]

You could submit an ammended return after the accountant has made your return.
You would just have to add in the dividends and capital gains.
The accountant would probably see the dividends and capital gains on the pre populated form 11 in the next tax year.

Thanks. Sounds like a plan.

 

[Rainman]

How can you rely on good advice from your accountant if you do not disclose relevant facts?

Good question. When I raised the topic casually before, he wanted all the details of my transactions. (a) I'm not comfortable with that and (b) I know he would charge me for entering all the details into his system and computing the result - when I could compute the dividends and capital gains myself and save myself money. If he had asked me to provide just the total gains and dividends, I wouldn't have a problem doing that.

 

[_OkGo_]

I know he would charge me for entering all the details into his system and computing the result - when I could compute the dividends and capital gains myself and save myself money. If he had asked me to provide just the total gains and dividends, I wouldn't have a problem doing that

In fairness, that sounds like a basic professional competency from your accountant. It would be a foolish accountant who would assume that you have calculated your CGT correctly so at a minimum they would need to see the transactions and dates so that they can stand over their own work.

Can you not just ask them what they will charge to include this? If you can't trust your accountant with your financial information then maybe it's time you found a new one...