Frequently Asked Questions
1. Do I need an accountant?
Investing in an accountant will save you money and time. An accountant will give you specialised business and financial advice, forecast cash flow and provide up to date information on financial enquiries.
2. Why use a registered tax agent?
Using a registered tax agent will ensure you receive accurate financial information and secure every tax deduction you are legally entitled to. We guarantee this by staying abreast of industry education and updates.
3. Do I need to lodge a tax return?
Yes, if you have had tax taken from any payment you received. Most people need to lodge a tax return each year.
4. How much will a tax return cost?
The cost of your tax return will depend on your individual situation.
5. What is the due date for lodging my tax return?
If you are lodging your tax return yourself it will be due no later than October 31st. However if you are going through an agent, the opportunity for extension depends on the lodgement past. In some instances it could be extended to May the following year.
6. Can we just send you the paperwork?
Many of our clients are too busy to see us. Fortunately, with technology available this presents no problem. You can post, fax or email your forms to us from anywhere.
7. What records are required to prepare my tax return?
All we need to get started is a copy of your previous tax return, tax file number, name, date of birth and a copy of your group certificate (if applicable), and in some cases some form of identification.
8. How long does a refund return take?
Once we complete your tax return, the ATO will process it and issue you with a notice of assessment. The ATO service standard for assessing a current year tax return lodged electronically is 30 days.
9. I have multiple years’ outstanding tax returns, can you help?
Yes, we are equipped to prepare electronic returns from up to 12 years old. We will require all information including invoices and statements to work out what is relevant.
10. I went to another accountant and I only received this refund. Can you help me?
Yes, we can look at the result of a tax return. We often have customers coming to us and the majority of the time we can increase their tax return figure.
11. I have a debt with the ATO. Can I go on a payment plan?
Yes, we can help you organise a payment plan. The minimum amount you will be required to pay is based on your current financial situation.
12. I have been treated poorly by another accountant. Can you help me?
Yes, our service is based on what best suits our customers. We take the time to personally understand you and your situation. This is the value we can offer over big accounting firms.
13. What’s the best business structure for me?
Your business structure depends on your situation and your assets to protect.
14. Do I need to keep receipts?
Yes, you should always keep all the receipts for everything you pay for that’s business related.
15. What is the best way to keep my records?
We recommend collecting receipts and taking a photocopy of each to ensure the original copy doesn’t fade before your tax return is due.
16. I’m a new business. How can an accountant help me?
We can give you the advice to help start a business and run it with confidence. With our in-depth knowledge and commercial insight, we can help you make the important decisions from launch.
17. How hard is it to change accountants?
It is not hard at all to change accountants. All you need is your past tax returns and we can take over from there.
18. I need to set up a company trust. Can you help me?
Yes, we can help you set up a company trust.
19. Is it going to cost me every time I ring or send an email?
No, we do not charge you every time you call or email us. Our business focuses on providing a professional service for our customers, not charging you by the minute.
20. Does my SMSF need to be audited every year?
Yes, we recommend a SMSF audit annually. This involves conducting a financial and compliance audit of your superfund which needs to be completed by a registered Auditor.