- Tax Info
At 123 Bookkeepers and Accounting almost all enquiries we receive for tax returns start with;
The following client I’m about to tell you about said exactly that. “I have a simple tax return to do how much will that cost?”
The client came to us just for a 2012 tax return. (They had previously lodged their own tax returns).
I checked ATO records and found 2009 was not lodged which surprised them.
The only deductions they made for 2011 were just $200. (The ATO provides Tax Agents with the previous years records that include income and deductions previously claimed. That helps to better advise and prepare your tax returns).
During the interview for 2012 it was also realised that similar deductions for 2011 were NOT claimed.
2009 refunded just under $3,000
2011 Amended an extra refund of around $2,000
2012 refunded over $18,000
When we checked with the ATO records, there was also had a massive tax debt already outstanding which was a combination of penalties, interest and tax overdue.
We lodged the outstanding tax returns and applied to have the debt of just over $78,000 removed.
We have since lodged two further years tax returns and the refunds were substantial.
The client is much relieved from the stress of having this huge tax debt on their back and they also now receive a tax refund instead of trying to pay off a Tax debt which they couldn’t possibly pay.
There were circumstances in this case that allowed the ATO to remove the tax payers liabilities.
Each person’s circumstances are different. Talk to us to learn how we may be able to help you.
Most people think they have a simple tax return. Our experience is that most people don’t claim everything they are legally entitled to claim to reduce their tax.
Results vary for each client and their circumstances. All our results are in full compliance of the law and ATO. We do that little bit extra to get your best possible taxable results.
For more information about how we can help you, call us today on 02 8197 0973 to make a time to discuss your needs.
We are the Late Tax Return experts. Our team has helped many clients with late tax returns, some over 18 years!
“123 Books are a boutique Sydney Accounting practice that is small enough to do that little bit extra, which makes all the difference”
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We provide both onsite and offsite Bookkeeping and Accounting Services.
Most of our staff are qualified accountants that do Bookkeeping at Bookkeeping rates.