Call to make an appointment: 0402 201 222

      TAX FIG   Accounting & Business Solutions
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Frequently Asked Questions by TAX FIG Clients

Q1 How Much Do You Charge ?
Our prices are very reasonable and your tax return is prepared by an experienced consultant. TAX FIG clients find the prices reasonable and we have over 90% of our clients coming back each year. The more complex the tax return, the more it may cost. Call us for a Quote.
Q2 Can I Have The Fee Taken From The Refund ?
We can deduct the fee from your refund once it comes through. Your refund is deposited into your account. There is a small additional fee.
Q3 What Are The Office Hours And Can We Make An Appointment After Hours?
TAX FIG has appointments from 7.00am  till 8.00pm. During July to October we offer appointments on weekends also.
Q4 Can you Prepare Multiple Years Tax Returns ?
We can prepare and lodge all past years tax returns in one go. We advise that you bring along all your information as we can prepare all the past returns in one appointment. When making an appointment please tell the staff you have multiple years to prepare and lodge so we can book out the appropriate time to complete the work.
Q5 Do I Have To Lodge A Tax Return ?
Some individuals do not have to lodge a tax return, but it depends on your situation. Our staff can advise you whether you need to lodge a tax return so call us on
0402 201 222 or email us at office@taxfig.com
Q6 How Long Will My Refund Take ?
The Australian Tax Office tries to process the returns within 10 working days. During peak periods it may take a little more time we advise clients if they have not received their refund in 3 weeks to call the office so that we can chase it up for you.
Q7 I inherited some money is it taxable ?
The inheritance is not taxable unless it is advised by the executer of the estate that certain parts are taxable.
Q8 If I Win Lotto Or A Prize This Year, Is it Taxable ?
If you win lotto or a prize it is not taxable, by the way we wish you all the best. 
Q9 My Bank Interest Is Only $10 Do I Have To Declare It ?
You must declare all interest from all sources no matter how small the amount Is.
Q10 Can I Declare The Interest In My Spouse's Tax Return As We Have Joint Bank Accounts ?
If you have joint accounts all income must be declared by each tax payer equally.  The banks will declare the interest to the ATO and we are able to get this information  prefill the information into your tax return.
Q11Can I claim Fees Paid To My Tax Agent ?

Tax Agent fees are tax deductable for the preparation and handling of your tax return. Registered tax agents are only allowed to charge a fee for preparing and lodging your return. You can also claim travel for each time you visited your tax agent.

Q 12 Can I claim $300 worth of work related expenses ?

You must actually incur the expense before it claimable. However the ATO will not require receipts if the deductions are $300 or less.

Q13 Can I Claim My Childcare Expenses On My Tax Return ?

Child care expenses are not claimable on your tax return. If you are eligible for the child care tax rebate through

Q 14 How Long Do I Need To Keep My Receipts ?

You need to keep all documentary evidence for 5 years from the date of lodgement. Assets that you are depreciating the receipt should be kept until the item is fully depreciated.

Q 15 Can I Claim Seminars And Conference Expenses ?

Costs associated with conferences and seminars are tax deductable providing that they are directly associated with your current work and income producing activities.

Q 16 Can I Salary Sacrifice Money From My Wages Into My Superannuation ?

Payments paid under salary sacrifice arrangements are known as concessional cap payments or contributions. For 2013-2014 the concessional cap contributions have been capped at $25,000.

Q 17 Can I Claim For Child Maintenance Or Child Support That I Pay To My Ex-Spouse For My Children ?

Maintenance payments are not tax deductible.

Q 18 I am starting Up My Business, Do I Have To Register For GST ?

Business of an annual turn over of $75,000 or more are required to be registered for GST. If you earn less you can apply to be registered if you wish. Tax Fig can assist with all your ABN and GST Registrations including lodging your Quarterly BAS Statements.

Q 19 I Have Started A Second Job, Will I Be Taxed More ?

It is important that when you have a second Job that you don't claim the tax free threshold twice, otherwise you will have a significant tax bill at the end of the year.

Q 20 Do I Need a Depreciation Schedule For My Rental Property ?

Quantity surveyors do an excellent job recording and identifying assets in your rental property.  The depreciation schedule usually makes up for a large portion of tax deductions for the property. The one off fee paid for the report is tax deductable.

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