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FAQs

Got a Question? Someone may have already asked it. Here are some frequently asked questions to help YOU out.

Frequently Asked Questions

I have not lodged my previous years returns. Can YOUtax help me lodge them?

YOUtax has the ability to lodge returns for the 2014, 2015 and 2016 financial years only.

Are your accountants qualified?

Our accountants hold a Bachelor of accounting or business degree or have completed a tax agents course. Our compliance checks are performed by qualified and experienced accountants. We have CPA accredited accountants and some undergoing the CPA accreditation process.

Can I make an appointment?

We love meeting our clients.  If you feel your questions regarding your tax requires a one on one meeting or want help going through your you can book a skype or telephone appointment with one of our accountants.

Can you use my pre-fill data from the ATO?

Yes, we can but this depends as to how early you want your tax prepared and refund paid. Some data is not link on the ATO portal until later in the tax season. For example your Payment summary data will not be available until your employer has lodged all its employee summaries with the ATO. The ATO also rely on the banks to provide your interest data and listed companies, managed fund data to be provided from the fund managers and private health policies to be provided by your private health fund. This may take longer than if you were to provide us with the relevant data. We also provide due dilligence checks to ensure your data matching to the ATO is accurate.

Can't I just use the ATO e-tax service?

Yes you can…. The ATO’s Do-it-Yourself model supports you to meet your annual tax obligations but it does not provide the advice, knowledge and experience our accountants have to account for all assessable income and apply allowable tax deductions to increase your refund or reduce your tax liability. At YOUtax we studied hard to understand taxation law and to provide you with all legal deductions applicable to your employment and circumstances. Taxation law is complicated and ever changing especially with a change in government or upcoming elections. Our accountants are constantly updating their knowledge and can be trusted to provide you with the maximum refund possible or the greatest reduction to your tax liability by applying every legal means. We love making tax easy to understand for you.

I am a FIFO and DIDO worker. Can I claim flights and motor vehicle expenses for travelling away from home for work?

The ATO has impose strict conditions regarding the claim of travel expenses for an employee who is required to travel to remote locations for work where these travel expenses are not re-imbursed by your employer. – Under ordinary circumstances travel to and from your place of employment is not claimable as an employee. If you were to travel to a remote location to then start your shift once you arrive or the next day any flights, motor vehicle travel expenses or other travel expenses are NOT DEDUCTIBLE. – If your work is deemed to have commenced from your home. If your employer paid your wage incorporating your travel period to be within your normal working hours and not during any unpaid period your claim IS DEDUCTIBLE. These claims are highlighted concerns for the ATO. Please contact YOUtax and our helpful staff will be happy to help you further.

Can I claim motor vehicle expenses when transporting big and bulky equipment and tools to perform my job?

When transporting bulky equipment the ATO applies certain rules and tests. The ATO do not allow a claim for transport of bulky tools and equipment if your employer provides a secure storage area to store your tools; the items you carry must be used to perform your job and the transport is essential and not as a matter of convenience or personal choice. Please contact YOUtax and our helpful staff will be happy to help you further.

What method should I be using to claim my motor vehicle expenses?

There are 4 methods of calculating motor vehicle use; The cents per km method; requiring you to log km’s travelled for work or the log book method are the most common methods. 12% of original cost and One-third of actual expenses method are less commonly used. Please ask our accountants the best method to apply for your circumstances. Please contact YOUtax and our helpful staff will be happy to help you further.

I forgot to include some of my income and claim a deduction in my last years tax return. Can I include them in this years tax return?

No you cannot. Because the income and expenses were not incurred within the current financial year which is being assessed, they cannot be included. We can however, amend your previous years return to account for the missed income and deduction. Please contact YOUtax who a happy to assist you.

My income was under the tax free threshold. Do I still need to lodge a tax return?

If there was any tax withheld from your income earned within the financial year you will be required to lodge a tax return. However, if your earnings are below the tax free threshold then you will be able to receive a refund of any tax withheld.

What happens if I cannot lodge my tax return before 31 October?

If you are not registered with a tax agent and do not lodge your tax return by the 31st October the ATO may apply a non-lodgement penalty and you may also incur general interest charges. If you register with a tax agent and have a good lodgement record with the ATO you lodgement date can be extended. Please contact YOUtax for any further information our staff are happy to help you.

Can joint income be claimed in my partners return?

No. If the income was incurred jointly it must be accounted for in both of your tax returns according to your % interest in the income. E.g. A joint investment account may have a 50/50 split. Then 50% of the interest income must be included in your and your partners return. Please contact YOUtax for any further information our staff are happy to help you.

My partner has more income than me can I add my deductions to there income?

No. A deduction can only be claimed against the income from which the expense was derived, whether it be your income or your partners. E.g. I purchased some equipment that I need to perform my job. This item can only be claimed against your income as it relates to you performing your job to be paid that income. This cannot be claimed agaisnt your partners. Please contact YOUtax for any further information our staff are happy to help you.

Do you do partnership returns?

Yes, if your partnership return has a turnover of $200,000 and under and requires a business schedule. You will be required to select the ABN Sole Trader package. Please contact YOUtax and our helpful staff will guide you through the process.

How long must I keep my tax records for?

Your records must be kept for 5 years from the lodgement of your return. Some records may need to be kept longer, in the case of records relating to the disposal of a capital gains tax asset or records relating to a carried forward loss.

Can you deduct my fee from my refund?

No. YOUtax do not offer a fee from refund service. Our process accepts upfront payments from credit card.

How long does it take to receive my refund?

The wait time for your tax return is subject to the ATO processing schedule. This financial year the ATO has set a reasonable wait time of 12 business days. Your refund will be paid to your nominated bank account.

I have $500 in deductions will this be my refund amount?

No, your deductions do not indicate your refund amount. Deductions will only reduce your assessable income and your individual tax rate is calculated against your reduced amount of assessable income. Please contact YOUtax and our helpful staff will be happy to help.

Do I include my upfront payment for this service in my tax return as my tax agent fees?

You can only claim your tax agent or accounting fees that were paid within the period for which you are being assessed. If you are completing your 2015 tax return any expenses paid between 1 July 2014 – 30 June 2015 are included but expenses incurred after 30 June 2015 will be deductible in the next financial year return.

Unanswered Questions?