Accounting & Tax

  • How long do I have to keep my receipts for?

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    Generally, you must keep your evidence for five years from the date you lodge your tax return.

  • I need to set up a new Company or Trust. Can you help me?

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    Yes, we can assist you with the establishment of all types of entities, as well as applying for ABNs, Tax File Numbers, GST Registrations and PAYG Withholding. We can also advise you of what type of entity will best suit your circumstances.

  • I found an error in my tax return and it is already lodged. What do I need to do?

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    You may contact our office to discuss the error and we can assist you in amending your tax return, if required. We will lodge the amended return with the ATO. The ATO can take up to its standard 28 days to process your return. Alternatively, you can contact the ATO directly and they will advise you of the necessary steps to resolve the error. This may include writing a formal letter to the ATO explaining your reasons for the amendment request.

  • Why use a Registered Tax Agent?

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    Registered Tax Agents are regulated by the Tax Practitioners Board and are required to have a certain level of qualifications and experience in preparing a variety of tax returns to gain their registration. Tax Agents are required to have professional indemnity insurance and must adhere to a code of professional conduct. By using a Registered Tax Agent, you are ensuring that your return is being prepared by a suitably qualified person. Furthermore, please note that there is no protection for taxpayers who use unregistered tax or BAS agents. You can see whether a Tax Agent is registered by searching on www.tpb.gov.au.

  • When is the due date to lodge my personal tax return?

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    If you prepare your own tax return without a Registered Tax Agent, the due date is 31 October. By using a Registered Tax Agent, you may be eligible for extensions up to 15 May of the following year. However, this depends on your level of income and lodgement history. If you have not used a Registered Tax Agent in the past, you will need to contact us at info@safeaccountants.com.au prior to 31 October.

  • Is it difficult to change from my accountant if I decide to use your services?

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    No. In most cases it is a fairly simple transition. For individuals, we can access your data via the ATO tax portal online. For businesses, we only need a copy of your last year’s tax return lodged and financial statements to allow us to complete the current financial year. Other records are not required. As such, it is not difficult to change accountants like it would be for banks. Also, the advantage of changing accountants will give the new accountant an opportunity to highlight issues and opportunities not dealt by your old accountant. Therefore, a fresh set of eyes looking over your tax affairs will give you comfort and peace of mind.

  • I have a number of years outstanding, can you help me?

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    Yes, we can definitely help you. Our mission is to help our clients bring themselves up to the date with the ATO. We not only help you prepare and lodge your tax returns, we also take one further step to communicate with the ATO to remove any late lodgement penalties which is likely to be applied to your income tax account with the Tax Office. Please contact us at info@safeaccountants.com for further information and assistance.

  • Are you able to see me after business hours as I work full-time?

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    Yes, we do offer a mobile service depending on location. Alternatively, you may wish contact us at info@safeaccountants.com.au to make an appointment to meet at my office.

  • How long will it take to prepare my tax returns?

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    It can take between 30mins to 1 hour depending on the information you provide. We have a checklist for you to ensure that you have all the relevant documents ready for us to complete your return efficiently.

  • Can I send you my records rather than come into your office?

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    Yes, you can email, fax or mail your information using our details on our Contact Us page. This is referred to our ‘Online’ Service, conveniently offered to clients that simply do not have the time to visit an accountant or prefer to manage their tax affairs online. As soon as we receive your records, we will notify you by either telephone or email. We will then proceed with preparing your tax return and send you a copy for approval and sign off prior to lodgement with the Tax Office.

  • What do I need for a tax return?

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    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

    Deductable 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

  • I have not received all of my PAYG payment summaries (group certificates) yet. Can I lodge a tax return without them?

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    No. To lodge a tax return, you need to declare all of your employment income. The first thing you need to do is contacting your employers or ex-employers. However, in case you cannot receive, please don’t hesitate to contact us.

  • I did not earn a large amount of bank interest. I can say that it was about $5. Do I need to include in my tax return? How can I check the exact amount?

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    Yes. You must declare bank interest income even if it is $1. You can acquire the amount by contacting your bank or checking internet banking if you use it.

  • Can I receive a tax refund equivalent to full amount of deductions?

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    No. Deductions only reduce your taxable income. Your tax amount equals taxable income time’s tax rate. Thus, a tax refund increases (or tax liability reduces) by the amount equivalent to an amount of deductions times tax rate.

  • Can I claim expenses that used for both work and personal use?

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    Yes. You can claim for items that have both work and personal use as long as the item in question represents a deduction type that is normally allowable. You need to estimate work related percentage reasonably and exclude the amount of private use.

  • I quitted my job and have no intention to work in this financial year. Can I lodge a tax return now?

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    No. Even if you do not work anymore in this financial year, you need to wait for 1st July. However, in case you left or are leaving Australia permanently, you can lodge an early tax return before 1st July.

  • I am likely to pay tax rather than receive refund. Should I lodge a tax return?

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    Yes, you need to lodge a tax return regardless of an amount of your refund or payment.

  • I am leaving Australia prior to 30th June. Can I lodge a tax return before 1st July?

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    Yes. In case you have left or are leaving Australia permanently (not coming back and working within at least 2 years), you can lodge your tax return early. For example, your visa expired and you went back to your country. However you need all of PAYG payment summaries (group certificates) or equivalents as well as bank interest details.

  • My ex-employers would not provide my PAYG payment summaries (group certificates) early. How can I lodge my early tax return?

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    The first thing you need to do is contacting your ex-employer. In case you still cannot obtain, you may use your last payslip to apply for your early tax return. However your last payslip must include the following details. -Your Name -Y.T.D Gross Income -Y.T.D Tax Withheld -Employer’s Name -Employer’s ABN -Payment Date

  • I heard that I do not need to pay Medicare levy if I am covered by a private hospital insurance. Is it correct?

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    No. Generally speaking, in case you are covered by private hospital insurance, you may be exempt from Medicare levy surcharge but not Medicare levy.

  • Is it correct that I do not have to pay Medicare levy if I am not Australian?

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    Generally speaking, it is correct. If you live in Australia, but are not eligible for Medicare during all, or part of, any financial year, you can claim an exemption from paying the levy. To claim the exemption on your tax return, you must apply for a Medicare levy exemption certificate.
    We can prepare a Medicare levy exemption certificate.

  • Is it correct that I do not have to pay Medicare levy if I am not Australian?

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    Generally speaking, it is correct. If you live in Australia, but are not eligible for Medicare during all, or part of, any financial year, you can claim an exemption from paying the levy. To claim the exemption on your tax return, you must apply for a Medicare levy exemption certificate.
    We can prepare a Medicare levy exemption certificate.


  • Online Tax Return FAQ


  • How long does it take to receive my refund?

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    The normal processing time is 10-14 working days. However this processing time is subject to ATO.

  • Can you take the fee from my refund?

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    Yes. We can deduct the fee from your refund and have the net funds deposited into your nominated bank account with only $20 extra by your choice. This means that you do not need to pay in upfront.

  • I have not lodged prior year tax returns. Can you also lodge them?

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    Yes. We can prepare and lodge your prior year tax returns. Any year is accepted. It is recommended that you lodge your outstanding tax returns ASAP. ATO may impose fines for non-lodgement of a tax return.

  • Do I have to send my PAYG payment summaries (group certificates) to you?

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    Yes. You need to send your PAYG Summary statement by email or online upload. You must retain them for at least 5 years in case there is a query from ATO.

  • Can I receive my notice of assessment?

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    Yes. You receive your notice of assessment and other correspondences directly from ATO by mail.

  • What payment methods do you provide?

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    VISA, MasterCard, bankcard, bank transfer and pay on refund are available.

  • What will I receive after the submission?

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    You will receive your tax return and invoice by email within 24 hours. If you need, tax advice is provided.

  • What is your cancelation policy? Can I cancel your service?

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    Credit card payment is not processed upon your submission, but will be processed upon preparation. Safe Accountants, under most circumstances, will not issue a refund of the fees after preparation. However, Safe Accountants amends your tax return after preparation. Preparation means the time when you are first contacted for queries or preparation of your tax return is commenced by Safe Accountants, whichever earlier.

  • What happens if I find mistakes after submission?

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    No problems. You can change after your review. If your tax return has already been lodged, we can amend your tax returns for free. Thus, please check your email occasionally after your submission and notify us ASAP in case you find mistakes.