| FREQUENTLY ASKED QUESTIONS (FAQs) | |
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| 1. How much do you charge? | |
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The fee for tax return preparation depends upon the complexity of
income and deductions involved. The fee for most "I" returns is between
$99 to $130 where the fee is paid by cash, cheque or credit card at the
time of preparation. That fee is tax deductible in the tax year paid. |
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| 2. Can I have your fee taken from my refund? | |
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We can deduct the ITP fee from the ATO refund and have the net funds
deposited directly into your own bank account should you so wish. With
the negotiation charges of the ATO cheque, the possibility of reduced
refund by the ATO for unpaid child support and other overpaid DOCS
charges, unpaid HECS charges together with the ITP costs spent in
processing an additional fee will be charged of around $30. |
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| 3. Where is your nearest office to where I live? | |
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We have offices in Manly. Mona Vale, Dee Why and Hornsby Click the Contact Us link on The Top Left hand side of this page for directions |
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| 4. What hours are your offices open during the year? | |
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1 July to 31 October - All our offices are open during the peak tax
period 5 days each week and after hours and Saturdays. Although no
appointment is necessary to lessen any waiting time the making of an
appointment is recommended. Go to the Contact Us link on The Top Left hand side of this page to get our current timings |
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| 5. Can I prepare my own tax return on-line? | |
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The Tax Agent's Board do not condone on-line preparation by Registered
Tax Agents who in their view do not scruitinise all original client
documents. Although we have the software to do so we are reluctant to
provide this service until the Tax Agent's Board relax their
requirements. There are some organisations who provide this service
especially the ATO's own site at www.ato.gov.au. |
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| 6. Can you prepare multiple years returns at the same time? | |
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We can prepare and lodge all past year's returns together at the same
time. The current year's refunds will be returned in the normal period
but there may be slight delays with refunds coming from the ATO for
previous years returns and possibly not arriving together. |
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| 7. Do I have to lodge a tax return? | |
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Some individuals do not have to lodge a tax return. Each person's
situation will differ due to age, income and expenses. Seek expert
advice from the ITP office nearest you, with details obtained from the
ITP Locations link on this web site. |
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| 8. Can I claim any deductions if I have no receipts? | |
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Under some circumstances receipts are not required, but in order to
maximise your tax deductions, we recommend you retain all your work and
business related receipts and bring them with you at the time of your
return preparation. |
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| 9. How long will my refund take? | |
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Last year the Australian Tax Office (ATO) was able to process almost
90% of returns within 14 working days. We are expecting this year
however, that some delays may be encountered due to data matching
between the ATO and Centrelink. If your refund has been with the ATO
for more than 21 days then contact the ITP office that prepared your
return for further assistance. |
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| 10. What if I don't have a Payment Summary from a job? | |
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If you are still missing one of your payment summaries then you need to
contact that employer. If you can't get one from that employer then
contact the Tax Office on 13 28 61. Don't forget to include all your
payment summaries, even if you've only worked in a job for a couple of
weeks. |
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| 11. I am presently living overseas or may leave before I receive my Payment Summary. How can I prepare my Australian tax return? | |
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Our expert consultants have experience in the preparation of Australian
tax returns where the client is living overseas or has income or assets
in countries with Double-Tax arrangements with Australia and would be
able to fulfill all relevant requirements on your behalf. |
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| 12. I have a "Working Visa". What do I need in order to work in Australia? | |
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A Tax File Number (TFN) is required in order to work and be properly
recognised for tax purposes in Australia. An Application Form may be
picked up from any branch of the ATO at any of our offices listed on
the Contact Us link on The Top Left hand side of this page |
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| 13. Can I claim travel for my work? | |
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Home to work and return travel is generally not claimable except in
certain circumstances. Travel between jobs on the same day and travel
for work (i.e. visiting clients, doing pick-ups or deliveries) would be
claimable. If you use public transport then keep all receipts and/or
diary records. If you use your own car then you need to keep a log book
of all business mileage traveled and all expenses of the car including
petrol, repairs, registration, insurance and interest on a car loan. |
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| 14. I have received a divident statement, do I need to declare this as income? | |
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You need to include dividends and any other interest earned on bank
accounts. Don't forget to include all interest, even if you've already
closed the bank account. Also if you've quoted your tax file number
when opening a bank account then you need to declare that interest in
your individual tax return, not in a partnership or trust tax return. |
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| 15. Will I be penalised for lodging my return late? | |
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You may receive a fine or interest penalty charge from the ATO if you
lodge your return late. Generally if you are entitled to a refund those
penalties are minimal. ITP has lodgement extension facilities that will
minimise such charges. Contact your nearest ITP office. |
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| 16. Do I get all my tax back if I only work a few months of the financial year? | |
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Not necessarily. The tax you are required to pay is calculated on your
total income earned during the whole year. Whether all your income is
earned in 1 day or 12 months makes no difference. |
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| 17. How much can I claim if I buy a computer? | |
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If you purchase a computer for use in your work or business, you can
generally claim a percentage of the depreciation that pertains to your
work or business use. The depreciation allowed will depend on the
expected life of the computer or how long it is expected to be current.
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| 18. How much can I claim on my motor vehicle? | |
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There are different methods for claiming expenses in relation to the
business use of your motor vehicle. These can be complex so to maximise
your potential claim you should maintain a daily mileage log book for
at least three months of the year and a record of any expenses for the
full year. Call any of our offices from the Contact Us link a brief explanation of how to record and maintain it. |
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| 19. How much can I claim for my wife and my children? | |
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The amount you can claim will depend on the income levels of you and
your individual family members, the age of your children and any amount
already received through Centrelink payments. It is therefore important
that you bring all these details with you when you have your return
prepared. |
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| 20. Can I claim my work uniform as a tax deduction? | |
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Deductions for uniforms can only be claimed if the work uniform is
specific and identifiable to your organisation (such as chef's checked
pants) or protects you from injury whilst you are at work. You can't
claim the cost of a plain uniform or conventional clothing, such as
white shirt and black pants or skirt which is commonly worn by waiters
and waitresses, even if your employer tells you to wear them. |
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| 21. We had a baby last year, who should claim the baby bonus? | |
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The baby bonus was phased out in the 2005 tax year and has been
replaced by a lump sum payment which is not claimed through the income
tax return |
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| 22. What deductions can I claim if I'm studying? | |
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Only study directly related to your current job may be claimed as a
self-education expense. For example if you were a waiter and you were
studying book-keeping then you wouldn't be able to claim the cost of
the course as a work related expense - even if you were looking for
work as an accountant. |
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| 23. I received money from the government during the year, do I need to include it in my tax return? | |
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Some government payments and allowances are included as taxable income,
others are not. It's important that you declare any taxable payments
such as age pensions, Newstart allowance, youth allowance or Austudy in
your tax return. A complete list of payments which do not need to be
included on your tax return can be determined when you meet with an ITP
Consultant. |
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| 24. The Senior Australian tax offset, how does this affect me? | |
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This tax offset means many seniors can reduce the amount of tax and
Medicare levy they pay. In some cases people may not have to lodge a
tax return. |
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| 25. Do you hold Tax Training Courses each year? | |
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We conduct Tax Training Courses that teach you both the theory and
practice of income tax preparation, including all of the latest tax
changes including GST and the techniques for interviewing clients.
There are 16 lessons plus two examinations and are conducted between
February and early June for all who are interested. These courses are
conducted at our Area Head Offices across Australia over a 10 week
period usually two nights per week with a further 2 week computer
training course for graduates. Some courses are even run full-time
during the day in selected areas. The course fees vary in each area but
are usually between $600-$700. Please consult the head office site
listed by each State closest to you to make further enquiries. |
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| 26. What forms do I need to fill in for an employer? | |
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You are required to complete a TFN Declaration Form. This will be given to you by your employer. |
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| 27. What is your fee policy? | |
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We provide the best possible service for the most reasonable fee. This one time fee gives you: * On the spot service. * Personal attention from specialist consultants. * Complete industry checklists to search for every legal deduction. * Final checking, recording and lodgement of your return. * All year advice about your return. Our fees are fully tax deductible in the tax year paid. |
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| 28. Do you guarantee your work? | |
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Every aspect of a client's tax return will be held in strict confidence. Every return will be prepared by an ITP specialist consultant and double checked prior to lodgement. Every legitimate deduction or rebate will be claimed. If we make an error that results in additional tax or penalties imposed by the ATO over and above your correct position we will pay that penalty or interest. Throughout the year, clients can discuss with us all matters relating to their personal taxation affairs without charge. |
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