The cost to hire an accountant for a small business will depend on many things
1.  Your small business structure. If you’re a sole trader with a relatively simple business and accounts, it will be way cheaper than a company or trust.

2.  The type of service you’re looking for. Is it a one-off tax return? Just the monthly BAS and end of financial year tasks? Or do you need budgeting, cash flow review and projections, advisory tasks such as funding, restructuring, debt management? The more complex the service required, the more expensive it will cost your small business.

3. The accountant’s skills and qualification, whether CPA, CA or none, and experience, whether senior or junior accountant.

4.  The type of accounting firm, whether it is a big firm where you have 2-3 people handling your case or a smaller firm with just 1 junior person doing it. Of course, one-man shows will cost cheaper.

5.  To a certain extent, your location. Capital cities like Sydney and Melbourne will be more expensive than regional locations. You can also use online or virtual ones, and they may be cheaper without any face-to-face meeting.

When it comes down to actual pricing, different accountants have different fee structures. Some may charge by the hour, some per project or task, and some will charge a monthly retainer fee.

An accountant’s hourly rate typically starts from $100+ per hour for a junior accountant and upwards of $300+ for a senior in an accounting firm. Of course, there are freelance accountants who charge lower than that.

For a simple sole trader business, tax return cost can start from between $300 and $500. Company tax return will start from $1000 and get more expensive the more complicated the tax return is. BAS and IAS can start from $200 per quarter for a sole trader business and more for a company or trust.

Bear in mind that an accountant can do a lot more for your business including budgeting, raising funds, debt reconsolidation, tax strategies, buying and selling businesses. These can be project based, part of a pricing package or paid based on a monthly retainer.

The most important thing is to hire accountants or firms who will be upfront and transparent with their cost and pricing. Make sure you understand the total cost including the fine print and any changes in the work needed, and always maintain an open line of communication.