10 Common tax questions for individuals
How will I receive my refund?
We use direct Electronic Lodgement System with the ATO and therefore you should receive your refund directly to your bank account. Alternatively, you can choose to have our fee deducted from your refund.
What if my refund is delayed?
The ATO expects to send out 80% of refunds within 14 days, however, there are some circumstances that may delay your refund (eg Government departments). You can contact the ATO directly on 13 28 61 to find out where your refund is. Remember that it is due 14 working days (not weekends) and that if we are deducting your fees. It will take an additional few days.
When is my tax return due?
We will lodge your return on the day that we receive your signed authority. As registered tax agents, we are able to gain extensions for most tax returns, and are usually able to negotiate penalties (if any) on your behalf.
Will the ATO contact me?
We are your registered tax agents, the ATO should never contact you directly. We will handle all enquiries from the ATO on your behalf. We will also assist you should you have any queries relating to any tax matter.
What if my claim is disallowed?
If your refund differs from what we estimate, you should contact us immediately.
We will happily explain any differences to you.
The ATO can audit your tax return. They should contact us to advise us of the audit, and then we will contact you.
We can assist you through this and we do offer audit insurance should you wish to be covered for our costs.
What records do I need to keep?
Harsh penalties exist for false claims in tax returns.
You should read the entire copy of your return enclosed and advise us immediately if there is something you do not agree with or do not understand. We will advise you accordingly if an amendment needs to be prepared.
You should keep all records and receipts of all claims made in your income tax return for at least 5 years. If you are claiming car, travel or other apportioned deductions, you will need to keep log books and records of such claims. If you purchase capital assets, you will need to keep these receipts until you dispose of the asset and sometimes for 5 years after disposal of that asset.
We suggest you use this folder provided to store all of your year’s receipts with your copy of your tax return.
You should contact us should you have any hesitations or questions.
Our service to you
We are open for extended hours during tax time, July to September, for your convenience. If you are unable to make an appointment, we also offer tax return preparation via email and post.
We recommend you total all of your receipts prior to your appointment to save yourself additional accounting fees.
We will happily assist you with any queries relating to your tax or financial affairs. We offer a wide range of services and are always available to assist you or direct you on where to find the answers you are looking for.
Tel 03 9773 3647