A great accountant is a strategic partner, not just a compliance provider. If you recognise any of these five signs, it may be time to consider a change.
1. They Only Talk to You at Tax Time
If your accountant only reaches out once a year to prepare your tax return, you are missing out on year-round tax planning. The ATO recognises tax planning as your legal right ??? but it requires proactive, ongoing advice, not a once-a-year scramble.
2. They Do Not Understand Your Industry
Different industries have different tax rules, deductions, and compliance requirements. A construction accountant needs to understand progress claims and retention. A medical accountant needs to know about Medicare rebates and AHPRA. A generalist may miss industry-specific opportunities.
3. They Never Proactively Suggest Strategies
A good accountant should proactively suggest:
- Business structure reviews (sole trader vs company vs trust)
- Superannuation contribution strategies
- Asset purchase timing to maximise deductions
- Tax-effective investment structuring
If you are always the one initiating conversations, your accountant may not be adding strategic value.
4. You Cannot Reach Them When You Need Them
Business decisions often need timely financial input. If your accountant takes days or weeks to respond, you may be making decisions without the financial insight you need.
5. Your Fees Keep Increasing Without Added Value
If your accounting fees keep going up but the service remains the same ??? just compliance, no advice ??? you are paying more for less. A good accountant should demonstrate clear value through tax savings, cash flow improvements, and strategic guidance.
What to Look for in a New Accountant
- Industry-specific expertise
- Proactive communication and regular check-ins
- Technology adoption (cloud accounting, real-time reporting)
- Clear fee structures and value-based pricing
- Registered tax agent with the Tax Practitioners Board