Behind on your tax? Here’s the first step…

It’s about now that we all start pondering what our new year’s resolution may be. Generally the list goes something along the lines of lose weight, cut up the credit card and start living every day to its fullest. Well, if you’re behind on your tax returns now is the perfect time to feel motivated to do something about it.

Step #1

Your first step is to call our office – easy!

We don’t mind that you haven’t lodged tax returns in several years. There have been plenty of stressed and worried people walk into our office over the years and every single time they have left feeling relieved with a weight off their shoulders. We don’t mind whether you have two or ten years due, we can help you.

We thought we should probably add in a few more steps to clarify a few things and ensure that you are completely looked after.

Step #1 part B

Calling to make the appointment: When you call we will ask for your date of birth and tax file number. This allows us to download all your historical information from the Australian Taxation Office. So if you have lost some of your PAYG Payment Summaries don’t worry, it is highly likely we can download them.

Step #2

This is on us. We will log in to the ATO Tax Agent Portal, download your information and check exactly what is outstanding and whether there are likely to be any fines or penalties. We will also check if you have any outstanding debts with the ATO.

Step #3

Also on us. Before you come in, one of our accountants will review the information downloaded from the ATO and prepare the returns to draft.

Step #4

This one is on you. Come in for your appointment, we will then go through all of your returns with you. Going over the information we have and helping you to piece together any missing bits of information.

Step #5

Find missing information: We will identify what information is missing (if any) and make a list so you can follow it up easily and simply.

Step #6

Once complete, we will give you a copy of the estimates so you know well in advance what the estimated refund or assessment is likely to be.

Step #7

We lodge all outstanding tax returns.

Step #8

Once assessed, we will check your tax returns and ensure that the assessments are correct.

Step #9

If you have received any fines or penalties, our next step is to contact the ATO and discuss them. If there are unusual circumstances that have led to the late lodgement, such as illness, injury, divorce, relationship breakdown, accident or otherwise, we will discuss this with the ATO and apply for remission of the penalties and interest.

We understand there may be various reasons that have lead people to get behind on their tax returns. It’s our job to help you catch up.