If you are required by the Australian Taxation Office (ATO) to lodge a tax return this year then you’ll need to sort this out in the next few months!
Failure to do so may result in you paying penalty fees – such as the Failure to Lodge (FTL) fee.
So make a point of remembering to file your tax return ASAP, or else you could potentially be out of pocket.
The FTL fee is charged to those who do not lodge their tax returns by the due date (October 31). It’s calculated by penalty units, where each unit equates to $170.
For every 28 days that you do not lodge your tax return, you will get charged one penalty unit, up to a total of five units.
This is hundreds of dollars that you could save by filing your tax returns on time with a registered tax accountant.
Generally, the ATO will send you a warning letter if you are late in filing your tax return – and you should take this warning as a sign to get in contact with a tax agent to lodge your return.
To avoid paying late fees and penalties, contact Mr Tax Refund today!
That’s right! Once your tax return is lodged – we could sent cash to your bank within 1 business day.
Already signed up? When you have your over-the-phone tax appointment just let your consultant know that you are interested in receiving a tax advance!
Please note: If your tax return is lodged after 3pm WST Monday to Friday, then cash will be sent to your bank the following business day.
While some of us are quite switched-on when it comes to remembering to lodge our tax returns, there are a few of us who can forget. Sometimes for more than one year!
At the same time, many people often think that they don’t have anything owing to them from the Australian Taxation Office (ATO), leaving their tax refunds sitting stagnant for a long period of time.
If you haven’t filed a tax return in Australia for a number of years, then you might want to think about doing it soon. That way, you can access the tax refund that may have been accumulating over the same period.
In fact, if you’re required by the ATO to file a tax return and you haven’t done so, then you might be liable to pay some penalties – so don’t let these build up on top of each other!
One of the great things about Mr Tax Refund is that we can sort out multiple years’ worth of returns at the same time – meaning less hassle for you.
So put that thinking cap on, head to a computer and start your tax return online today!
Father’s Day is slowly edging closer, so if you haven’t thought of a present yet, then you better put your thinking cap on.
If you have forgotten, it’s on Sunday the 1st of September, so there is still time to sort out what you’re going to get your loving Dad this year.
Maybe a holiday somewhere warm? Perhaps a day out on a boat or a new fishing rod? What about a nice set of golf clubs to take with him this summer?
Have you thought about how you’re going to fund it? Don’t fret – you can always use your tax refunds to buy whatever you need!
Not everyone remembers to file their tax returns, and many others don’t think that they’ll have anything owing.
To find out, you can use a tax calculator or get a professional to answer your tax questions.
What’s even better is that you can apply for instant tax refunds, which means that you won’t miss Father’s Day.
For a small fee, Mr Tax Refund can have your money into your account within one business day – how’s that for speed?
Then you can simply head along to the shops and pick up something great that your father will appreciate!
As Australia is an extremely popular country for young travellers to come to, many of them try to extend their stay. Most will pick up some sort of casual employment – such as hospitality or agricultural work.
These wages will then get taxed through the Australian Taxation Office, as it counts as income.
If you are a backpacker and you have paid tax during your stay in Australia, then you are most likely eligible to receive a tax refund.
In order to be eligible, you must have stayed or intend to stay in the country for at least six months of the tax year. This runs from July 1 to June 30 the following year.
Alternatively, if you have been working for the same Australian employer for more than four months, or across two employers for five months, then you can also claim tax refunds.
You may not receive all of the tax you paid back through your tax returns, because you will be charged at a different rate as a non-resident.
Simply head to a tax agent to find out how much you might have owing to you!
There are many expenses that are claimed in tax returns that are tricky – one of the most headache-inducing ones being vehicle expenses.
If you have to travel for your job and are experiencing a little difficulty determining what you can and can’t claim as tax deductions, then read on!
As part of your job, you may find yourself needing to cart your tools to and from work sites or home.
Normally, you aren’t allowed to claim the costs for travelling between work and home – however, you can if you have to transport your heavy and bulky work equipment. You can only do this if you cannot store these items at the workplace.
Those that have more than one job can also claim vehicle expenses for the travel between their two different places of employment.
You are also able to claim the costs of travel if you had to move from site to site at your job – this is a very handy one to remember for construction workers that are working on multiple projects.
Remember that these instances cover the costs of a vehicle that you personally own, hired under a hire-purchase agreement or leased.
Your job can have you living in some strange and remote places – whether it’s making your way through the bush, way out in the green farm fields of Victoria, or deep in the Bowen mines – so when tax time comes around it may be difficult for you to organise your return yourself.
It’s not always simple to just get in your car and drive down to the nearest tax agent to help you fill out your necessary forms.
Did you know that you can get your tax return completed over the phone? This means that it doesn’t matter where you are in the country – you can still get it done regardless.
It only takes a few minutes of your time, and all you need is an internet connection and a phone.
If you find yourself constantly on the road with your job and you don’t have time to mail your essential documents through, then you can SMS, email or fax them through to us.
There really is no excuse for not getting your tax returns done this year!
Find out if you are due to receive a tax refund this financial year by contacting Mr Tax Refund today.
Another tax tip
While we would all love to be able to claim all of our work-related expenses as tax deductible, there are actually a number of things that you aren’t able to include in your tax returns.
To be able to claim expenses, they must have been directly related to the income that you earned in that financial year. This means that it must be a work-related expense, so you aren’t able to include those flights for that personal holiday of yours!
You are not able to claim the expenses for things that you have been reimbursed for, or that you will be reimbursed for. For example, if you had to purchase a new uniform for your job but your boss paid you back for it then you cannot claim this expense.
You can claim some of the costs for your education, however there are a few limitations. For example, you are not able to claim the costs of a course that isn’t directly connected with your job.
This means that you must be studying a qualification or course that provides you with the correct skills to do your job correctly.
Australia is known for having a large number of mining projects on the go, due to the large amount of natural resources the country has on offer. So therefore, it’s natural that the industry employs a significant number of people – and you might be one of them.
Whatever your role is while working in the mines, you may be required to purchase your own gear or equipment, or maybe even travel long distances between places of employment. Did you know that some of this can be included in your tax return as a tax deductible?
Here’s a small breakdown of what you, as a mining worker, can claim in your next tax return!
As a miner, you’re often subjected to some rough conditions underground. So that means that you will most likely need some protective safety clothing and equipment to prevent injury.
If you have had to purchase steel-capped or heavy duty protective boots for work, then you can claim these as a deductible. Also included are gloves, hard-hats, and protective clothing.
Machinery Licence Renewal
You can’t claim the cost for obtaining your first licence for machinery, however you can claim the renewal fees if you need your licence for your current job.
This is because the cost of keeping your licence contributes to you doing your job properly.
For more help with understanding what you can or can’t deduct, speak to a tax agent today!
Instead of sitting down with a regular tax agent for a couple of hours to sort through your tax return, did you know that you can save time by using an over-the-phone tax accountant?
Your phone appointment will only take 30 minutes and basic tax returns start from $125, but we also guarantee the maximum refund possible – meaning more bang for your buck!
Since our tax returns are done over the phone you can do them anywhere and at anytime you wish. Whether you’re holidaying on the east coast, sitting in your lunchroom at work, or even commuting from work to home – we can help you at a time that’s most convenient for your schedule.
All you need are your essential documents (such as proof of income, expenses and identification), an internet connection, a mobile phone or a landline, and you’ll be all set to get your tax return underway.
To make the process even easier, we can receive documents through SMS text messages, fax or email – meaning that you won’t have to pay for stamps for snail mail, or waste petrol money delivering them to a physical place.
For help with your tax return this year, contact Mr Tax Refund today!