Perth WA, June 25, 2012 – up to 1.5 million Australians annually don’t lodge a tax return because they don’t think they will get anything.
Like many Australians, Celyn Price of Maida Vale WA thought lodging a tax return regularly was a waste of time as she didn’t expect a refund. “I didn’t bother putting my last three years’ tax returns in because I didn’t think I’d get much back” she said. “I thought the cost and effort of getting my yearly tax returns done simply wasn’t worth it”.
And she’s not alone. A report by the Inspector General of Taxation found that an up to 1.5 million Australians didn’t lodge a tax return in 2009. One in ten of us who should have put a return in didn’t largely because we think what we’ll get back isn’t worth the effort or the cost .
However the same report discovered that many Australians underestimate their tax refund. After a short consultation with a Mr Tax Refund consultant it was determined that the tax office owed Celyn $3318 for the past 3 years’ returns. The refund could not have come at a better time for her who was short of spending money for her upcoming European holiday. With her departure date imminent, she couldn’t wait the many weeks it usually takes to get her money from the ATO, so Mr Tax Refund sent $2654 to her bank account overnight as of part the optional 24 hour tax refund service.
“The average tax refund issued last year was over $2000 which would tend to indicate there are literally billions in unclaimed refunds Australians are missing out on simply because they don’t bother to check or don’t know how to check what they are entitled to” stated Stephen Burns, CEO of Mr Tax Refund. “Since opening this month we have delivered dozens of ‘pleasant surprises’ to people who have failed to lodge their tax for one or more years”. Where we differ from traditional tax accountants is that we are set up to advance our customers up to 80% of their tax refund the same day as their refund is approved. This provides valuable cash flow to our customers”.
So what happens if you don’t lodge a return? In 2008 the ATO issued almost 100,000 ‘failure to lodge’ penalties to those who lodged tax returns themselves after October. However if represented by a Registered Tax Agent such as Mr Tax Refund the ATO allows an extension.
Mr Tax Refunds’ $49 introductory charge for assisted basic tax preparation plus 24 hour refund offering has thrown down the gauntlet to established national competitors H&R Block and ITP just prior to the start of the 2012 tax season.
“Mr Tax Refund raises the bar for players in the individual tax preparation industry,” said Mr Burns. “Clients will be offered the same or better service by experienced tax consultants for a fraction of the cost of our competitors. We expect our 24 hour refund option will be very attractive to those who need their cash straight away”.
“This is simply another customer group that is benefiting from sector transition away from bricks and mortar, and we see Mr Tax Refund as somewhat of a pioneer in this regard” said Burns. “As a consequence of moving to online and phone based services Mr Tax Refund makes significant savings which are passed onto our clients in lower fees”.
After hours service also offers convenience and flexibility for time poor customers unable to take time off to travel during working hours to see their tax agent. “Providing over-the-phone service delivery will offer clients the ability to talk to a real tax consultant at a time that suits them” Burns said. “It will be an ideal solution for those without the confidence to do their own taxes but don’t want to spend too much”.
Mr Tax Refund will also offer clients a maximum refund guarantee. “If our customers can get a better tax refund from a competitor we’ll give them double their tax preparation fees back no questions” Burns said. “Long standing incumbents H&R Block and ITP lodge about 900,000 returns for clients yearly representing about 10% of the tax agent market. Considering our low fees and convenient service we are confident of switching a significant amount over to us in the next few years”
Mr Tax Refund is headquartered in West Perth but has operations on the East coast.
About Mr Tax Refund.
Commencing trading in June 2012, Mr Tax Refund is a Registered Tax Agent with a difference. The company offers its clients combined over-the-phone and online tax consulting services and annual tax return lodgment. Cost savings from not having physical offices are passed onto clients in the form of much lower fees, extended hours and additional services. The company offers a 24 hour ‘instant’ refund option to clients who can’t wait for their refund from the tax office, and a ‘Double-Your-Fee’s-Back’ maximum refund guarantee. In FY 2015 it’s conservatively estimated the Company will have serviced over 100,000 customers.
An explainer video is available at www.mrtaxrefund.com.au and further information on company history can be found at http://www.mrtaxrefund.com.au/about-us.php and http://www.mrtaxrefund.com.au/news
Media Contact – Stephen Burns, CEO
M. +61 449 611 000
P. 1300 829 227
F. 1800 329 829
For more logos or graphics contact Stephen directly.
For more logos or graphics contact Stephen directly.
Follow us at