FAQ's

1. How can you give me my Tax Refund today?

2. What does it cost?

3. Can I have your fee taken from my refund?

4. Where is your nearest office to where I live?

5. Can you prepare multiple years returns at the same time?

6. Can I prepare my own tax return on-line?

7. Do I have to lodge a tax return?

8. I am in Australia on a two year contract with and have a temporary working visa. Am I classed as a resident of Australia for tax purposes?

9. How long will my refund take?

10. Are there tax rebates because I am now over 55?

11. I have lost my receipts for the things I wish to claim, can I still claim?

12. I am covered by private health insurance and will be turning 65 this year, will my premiums be reduced?

13. I have had a bad year with my health and have heard that I can claim dome of the medical expenses I have incurred, is this true?

14. I have started a second job, do I need to pay second job tax?

15. I am three years behind in lodging my tax returns. Will I get into a lot of trouble?

16. I received an additional PAYG Payment Summary (group certificate) after
I completed last year's tax return. What do I do now?

17. I don’t have all my Group Certificates (PAYG Payment Summary, one is missing, can I still lodge my return?

18. Do I need to bring my partner with me to complete my tax return

19. My Partner has died. Do I need to complete a tax return for them?

20. How can I reduce my tax bill?

21. I have just left school and about to start my first job. My new employer has asked for my tax file number. How do I apply for one?

22. I am an overseas student who has recently arrived in Australia to study and would like to know how to obtain a tax file number.

23. When does my employer need to give me my PAYG Payment Summary?

24. I normally lodge my own return but won’t be able to do it before 31 October. What can I do?

1. How can you give me my Tax Refund today?
We prepare your tax return in a professional manner and with advanced software, are able to get an accurate estimate of your refund. We can then advance that amount, (less fees) as an interest free loan. It’s that simple!

2. What does it cost?
Our basic fee starts at $99. We charge an additional fee of 7.7% if you have your refund advanced prior to the ATO refund coming back. All of our fees are tax deductible in the financial year paid.

3. Can I have your fee taken from my refund?
Yes. If we advance your refund we deduct all fees from the amount we advance, so there is no need to bring cash with you. If you don’t want the refund advanced, you can then have the fees deducted from your refund for an extra $20 fee which covers the cost of banking your cheques and issuing you one of ours, which can be cashed that day. We can also have it deposited to you bank account as cash.

4. Where is your nearest office to where I live?
Click here to find your nearest TaxToday office

5. Can you prepare multiple years returns at the same time?
Yes, that’s not a problem. Depending on how many years we need to do, you may still be eligible for an instant Tax Refund Today!

6. Can I prepare my own tax return on-line?
Yes, you can use our online form. (link to online form)

7. Do I have to lodge a tax return?
Some individuals do not have to lodge a tax return. Each person's situation will differ due to age, income and expenses. Contact us if you are not sure (contact us link).

8. I am in Australia on a two year contract with and have a temporary working visa. Am I classed as a resident of Australia for tax purposes?
If you live and work in Australia like a resident and hold a temporary visa granted under the Migration Act of 1958, you will be taxed at the resident tax rates. Backpackers, who are on a working holiday, would be taxed at Non Resident Rates.
You may be exempt from the Medicare Levy (1.5% of your taxable income)if you are not entitled to a Medicare Card. You can contact the Medicare Australia to find out if your circumstances need clarification. HYPERLINK "http://www.medicareaustralia.gov.au/public/index.shtml" http://www.medicareaustralia.gov.au/public/index.shtml

Medicare exemption form

9. How long will my refund take?
We may be able to give you your tax refund TODAY!
The ATO usually process tax returns within 14 days, but we can advance the refund if you require.

10. Are there tax rebates because I am now over 55?
If you are still working, you may be eligible for a Mature Age Workers Offset for the tax year in which you turn 55. The maximum available offset is $500. You will be entitled to the maximum if your net income from working is below $53,000. If your only income is from investments then you will not be entitled to this offset. This is a rebate of tax only, so if your income is low enough that you don’t pay tax, this will not apply.

11. I have lost my receipts for the things I wish to claim, can I still claim?
Under some circumstances receipts are not required, but to get the best refund possible, we recommend you keep all your work and business related receipts and bring them in when we do your return.

12. I am covered by private health insurance and will be turning 65 this year, will my premiums be reduced?
People over 65 years of age may now receive 40%rebate on their health fund premiums, instead of the 30% for people under that age. This can be claimed directly from your health fund in reduced premiums, or on your tax return.

13. I have had a bad year with my health and have heard that I can claim dome of the medical expenses I have incurred, is this true?
There is a rebate for out of pocket medical expenses over $1500. That mean after your health fund and Medicare have reimbursed you, if the out of pocket amount is greater than $1500, you are entitled to a rebate.
E.G. Out of pocket medical expenses equal $2500, this is reduced by $1500, which equals $1000. The rebate (20%) equals $200. For any amount over this you would get 20% extra.
This is a family claim. The $1500 applies to the whole family, not each person.
Eligible expenses include doctors’ fees, hospital accommodation and related charges, dental work, medicines, physio/chiro, dental etc. It does not apply to cosmetic surgery or fees charged by your health fund.

14. I have started a second job, do I need to pay second job tax?
You cannot claim the tax free threshold of $6,000 from more than one employer at a time. You need to claim it from your main employer. (The question on your employment declaration asks “do you wish to claim the tax free threshold from this employer”) You need to answer YES from you main job and NO from your second job. You pay a little more tax at your second job, but you shouldn’t end up with a tax bill at the end of the year.

15. I am three years behind in lodging my tax returns. Will I get into a lot of trouble?
Contact us today and get them in A.S.A.P. Its best to lodge before the ATO takes any action against you.
The ATO can apply penalties up to $550 per year and may also charge interest. Most people get a refund, so there may be no penalties or interest; it’s up to the ATO. We advise you lodge as soon as possible to reduce penalties and interest. You may also miss out on Family Tax Payments if you don’t lodge soon. (link to FTB question)

16. I received an additional PAYG Payment Summary (group certificate) after
I completed last year's tax return. What do I do now?
You can’t put it in the next years return. We can do an amendment to the correct years return for you. It helps if you have a copy of that return but can be completed without it.

17. I don’t have all my Group Certificates (PAYG Payment Summary, one is missing, can I still lodge my return?
Your return can be completed using the details from a photocopy of the PAYG Payment Summary (your employer can provide this), a letter from your employer with the PAYG Payment Summary information or by reviewing your
pay slips for that period. We can then complete a Statuatory Declaration for you that can replace the original documentation.

18. Do I need to bring my partner with me to complete my tax return?
No, but it is helpful as they can assist with family details. There are a number of questions concerning dependants, dates of birth and medical details. You will need to have your partner's details and TFN if you wish to claim the Family Tax Benefit through your tax return.

19. My Partner has died. Do I need to complete a tax return for them?
It is necessary to complete a tax return to date of death if a return has been lodged in past years. We have experience with this and is not as complicated as it may seem. Special rules do apply and your partner may be entitled to a refund which can then form part of the estate.

20. How can I reduce my tax bill?
Salary Sacrificing is one of the most efficient methods of reducing your tax and its legal! The advantage of Salary
Sacrificing is that your benefit is purchased with pre-tax dollars. There are many things that you can Salary Sacrifice. (Car, computers, even mortgage repayments). All are subject to Fringe Benefits tax, except superannuation and minor benefits such as a mobile phone or computer. Motor Vehicles are subject to Fringe Benefits tax but the amount is reduced if the car is used for work. The Fringe benefit tax is paid by the employer and is paid at the top marginal rate
of tax, including Medicare (46.5%) on the grossed up benefit provided. Some employers require their employees to reimburse the FBT amount from their salary package.

21. I have just left school and about to start my first job. My new employer has asked for my tax file number. How do I apply for one?
This is an online application form for individuals. All the information is available here.

http://www.ato.gov.au/individuals/content.asp?doc=/content/form_1432.10.99.htm

Once you have applied for a Tax File number, you have 28 days to advise your employer. After this time he will deduct tax at the top marginal rate.

22. I am an overseas student who has recently arrived in Australia to study and would like to know how to obtain a tax file number.

If you are an overseas student living in Australia who has had your visa amended to allow you to work, you can apply on the internet.

http://www.ato.gov.au/individuals/content.asp?doc=/content/38760.htm

23. When does my employer need to give me my PAYG Payment Summary?
Generally, by 14 July, after the financial year ended. If you ceased employment during the year, the employer has 14 days after you have made a written request. If you were receiving a fringe benefit, then the employer can’t make it available until after 31 March. The 14 days would apply from then.

24. I normally lodge my own return but won’t be able to do it before 31 October. What can I do?
The first step is to appoint a Registered Tax Agent like us as we can get an extension for you. We also suggest you make any payments you think you might owe before 21 November. If you overpay, you will get a refund when you finally lodge. The ATO can charge late penalties and interest if the return is late.