We can help with taxes!
You might have been too busy, traveling overseas, things may have seemed too complicated or there may have been legitimate reasons (like health or relationship issues) that stopped you from lodging. Whatever the reason, there is no need to worry, it’s very common but the ATO won’t forget about it so you need to get it sorted and the sooner the better. We’ll get you up-to-date and once we do, you’ll sleep better and may even get a nice tax refund too!
The quickest and easiest way to get sorted is to just fill out this form! It’s that easy.
What if I can’t find all my receipts and documents?
Don’t stress, we can simplify things for you! Once you become a client with Ashok Parekh & Co, we may be able to access most of your tax records directly from the ATO and help complete your tax return. This can include information like your group certificate, private health insurance details, income from bank interest and government agencies like Centrelink. We will also work with you to see what you may be able to claim and help you work out how to locate the information that we need. There are even some deductions you can claim without receipts!
We can also check your lodgement status with the ATO and see what tax returns you have outstanding. Sometimes a client may not have realized that they have a prior year outstanding and actually receive a refund that they weren’t expecting.
I didn’t earn any income and don’t think I’m required to lodge a tax return.
You may not need to lodge a tax return but you need to lodge something with the ATO every year! If you meet certain conditions, such as earning income below the tax-free threshold, we may be able to submit non-lodgement advice with the ATO on your behalf and ensure that you are up-to-date with the tax office.
I’m worried about the ATO penalizing me.
If you want to avoid penalties, you should always lodge your tax return on time each year. If you’re already late, the best thing you can do is lodge as soon as possible to minimize the chance of ATO fines and interest charges. It doesn’t matter if you have one late return or ten overdue tax returns – the sooner you lodge your returns, the better. At the ATO’s discretion, if you lodge a late tax return and don’t owe the ATO any money, they usually won’t penalize you. If they do, depending on your circumstances and tax history, we may be able to negotiate with the ATO on your behalf to try and minimize these penalties.
I think I will have a tax payable and can’t afford to pay it right now.
Even if you don’t have the money at the moment, it’s best to get your tax return sorted now, rather than later. We can liaise with the ATO on your behalf and organize a payment arrangement with the ATO instead. The ATO can be very reasonable about payments on overdue taxes IF you get your tax returns lodged accurately and honestly.
If you have any other questions please contact us, we’re happy to help! Bunbury accountants: https://www.ashokparekhaccounting.com.au/bunbury/