FAQs

When should I lodge my individual tax return?

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A tax return covers the financial year from 1 July to 30 June. You should lodge your income tax return after the end of the financial year from 1st July.

 

If you have any questions, please contact us to discuss lodgement requirements.

 

 

When is the due date to lodge my income tax return?

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If you’re lodging your own tax return, it needs to be lodged by 31 October each year. 

 

Most registered tax agents can lodge returns for their clients after the usual 31 October deadline. The due date also depends on your personal situation.  

 

To ensure on-time lodgement or if you need a due date extension, contact us.

 

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What should I do if I have not lodged multiple years of income tax returns?

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We’ve got you covered. The TaxSure team of qualified professionals can help you prepare and lodge your previous years’ tax returns. 

 

If you’ve missed out on lodging a previous year's tax return, it's important to get up to date as soon as possible to avoid a penalty.

 

Please contact us to discuss your circumstances and we’ll get you up to date again.

 

 

Can I claim fees I pay to my accountant/tax agent in my income tax return?

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Yes, the cost of managing your tax affairs is an allowable deduction. This means you can claim all the fees you pay us in your income tax return.  

 

Please note: You generally incur the fees in the year you pay them. Therefore, if you pay your agent in January, for example, you will claim the accounting fees in the income tax return you lodge after the financial year finishes on 30 June.

 

If you’d like to discuss your circumstances in more detail, please get in touch. 

 

 

How long does it take to receive my tax refund?

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Electronically lodged tax returns are the fastest. 

 

The Australian Tax Office (ATO) aims to process electronically lodged tax returns within two weeks (14 days). Paper tax returns are processed manually and can take up to 10 weeks.

 

For timely and efficient tax return lodgement, drop us a line.

 

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Am I an Australian resident for tax purposes or foreign resident for tax purposes?

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The Australian Tax Office (ATO) does not use the same rules as the Department of Home Affairs to determine your residency status.  

 

This means you:

• can be an Australian resident for tax purposes without being an Australian citizen or permanent resident

• may have a visa to enter Australia but are not an Australian resident for tax purposes.

 

This can affect the amount of tax you pay. 

 

It’s important to note that each person’s situation is different and you should get informed advice about your circumstances.

 

For clarification and help with your income tax return no matter your residency, get in touch.

 

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Do I need to register for GST if I am running my own business?

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Not all businesses need to register for GST. Registration will depend on your annual turnover and also some other business operation factors related to specific industries.

 

Before you register for standard GST, you need to have an Australian business number (ABN). 

 

We can help you with ABN and GST registrations as well as provide advice tailored to your circumstances and industry. Please contact us to discuss your requirements in more detail.

 

 

What is Single Touch Payroll (STP) and who needs to report through STP?

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STP requires employers to report employees' payroll information to the Australian Tax Office each time they pay their employees through STP-enabled software. 

 

Payroll information includes:

• salaries and wages

• pay as you go (PAYG) withholding

• super

 

From 1 January 2022, all businesses in Australia will need to be reporting each pay day through STP.

 

Be prepared for the deadline to register for STP and avoid penalties for non-compliance.  Contact us to discuss software solutions and STP reporting requirements.

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If I come to the premises, can I pat Shadow and Hiro?

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Sure! These puppers take their jobs seriously – but everyone could use a belly rub break.