Q & A

From the date of lodging your tax return, you have to keep your evidence minimum for a five year.

Indeed, you can have our help with applying for ABNs, Tax File Numbers, GST Registrations, and PAYG Withholding, along with establishing each category of entities. You can also get our advice regarding the entity to suit your conditions.

In this case, you can communicate with us to have a discussion regarding the error. We will help you to amend your tax return if necessary. The amended return will be lodged with ATO, and to process your return, the ATO can take its standard up to 28 days. On the other hand, you can also communicate directly with the ATO for their advice regarding taking the necessary steps to solve the error. You may need to write an application to the ATO describing the causes of the amendment.

The Tax Practitioners Board directly regulates the Registered Tax Agents. The agents should be qualified and experienced in preparing various tax returns to get the registration. The tax agents must follow the code of professional conduct and have indemnification insurance. Using a Registered Tax Agent ensures your return is prepared by a qualified person. Besides, it should be noted that using unregistered tax or BAS agents doesn’t provide any security for taxpayers. By searching on www.tpb.gov.au, you can check whether a Tax Agent is registered.

The deadline for preparing the tax return without any agent will be October 31. But, if you use a Registered Tax Agent, your extensions may be up to May 15 of the following year. But it will depend on your lodgment history and income level. If you don’t have a Registered Tax Agent, you might contact us at- hello@taxaccountify.com before 31 October.

Yes, you can change in a simple way. Via the ATO tax portal online, we have to access your data. For this purpose, we need a copy of your last year’s tax return lodged and financial statements so that we can complete the current financial year. Actually, it is pretty simple to change accountants, as it would be for banks. Instead, it would be an opportunity for the new accountant to emphasize the issues and opportunities not dealt with by the previous accountant. As a result, you will be relaxed regarding your tax affairs for having a fresh set of eyes.

Obviously, it can be managed. Our mission is to keep our clients up to date with the ATO. Besides communicating with the ATO to omit any kind of late lodgment penalties which may be supposed to be applied to your income tax account with the Tax office, we assist in preparing and lodging your tax returns. For further assistance, please feel free to contact us at- hello@taxaccountify.com

You can contact us anytime at hello@taxaccountify.com for an appointment to meet at our office, or we also offer to serve on mobile phones, depending on location.

Depending on your provided information, it may take 30 minutes to 1 hour. We will provide you a checklist, so that you can have all the necessary documents prepared for us to complete your tax return successfully.

In this case, you can have our online service. Online, you can send us an e-mail, or mail all your information with details. We offer this online service to save time. After having all the necessary information, we will let you know via e-mail or over the telephone. Then we will take the necessary initiatives regarding your tax return preparation and will send you the approved copy and sign-off before lodgment with the Tax Office.

Income/Earnings Documents

• PAYG Payment Summaries (Group Certificates)

• Bank Interest Details

• Payment Summaries from Centrelink

• Superannuation Lump Sum Statements

• Superannuation Income Stream Statements

• Dividends Statements

• Share Transaction Statements

• Partnership & Trust Distributions

• Managed Fund Statements

• Capital Gains Details – Investment Property Sales, etc

• Foreign Sourced Income and Pensions

• Sole Trader (ABN) Income Details

• Investment Property Income Details

Deductible Expenses

• Motor Vehicle Expenses

• Travel Expenses

• Compulsory Uniform, Protective Clothing, Occupation Specific Clothing, Dry Cleaning

• Self-Education Expenses

• Other Work Related Expenses

• Asset Purchase Details – Computer, Tools, Equipment, etc

• Investment Related Expenses

• Donations to Charity Organisations

• Cost of Tax Affairs

• Income Protection Insurance Premiums

• Superannuation Contribution If Self Employed

Other

• Medical Expenses

• Private Health Insurance Statement