How does paying your fees from my refund work?
Clients opting to have our fees deducted from their tax refund are required to have their notice of assessment sent to our office and their tax refund deposited directly into the Austax trust account.
Upon receipt of your tax refund into our trust account as cleared funds, and receipt from the ATO of their EFT Reconciliation Statement, we deduct our fees from your refund and forward the balance to your nominated bank account.
Your notice of assessment (where a paper document is generated by the ATO) along with your trust account receipt/tax invoice is then forwarded to you in the mail.
Due to the additional processing required, it usually takes a day or two longer for clients paying our fees from their refund to receive their refund when compared to clients who pay our fees upfront.
Why do you charge $25 to deduct your fees from my refund?
Our $25 service fee is levied to cover the additional costs we incur to provide this payment option to our clients.
The pronouncements of our professional body require that any amounts received by our firm upon trust are held by us in a trust account.
When transacting upon this trust account we are required comply with the relevant documentation standards, both for the purposes of meeting our professional standards requirements, and, the requirements of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
This account is also required to be independently audited each year to ensure that Austax, as the operator of the trust account, are complying with our professional and legal obligations.
These compliance requirements come at substantial cost which we partially recover by charging this fee to our clients who choose to pay using this method.
What payment methods does Austax accept?
We accept payment by cash, cheque, direct debit, EFTPOS, Visa, Mastercard and American Express.
If you are receiving a tax refund we can also arrange to deduct our fees from your refund for a small additional fee of $25.
Credit card payments can be made via our website. Austax does not apply a surcharge to payments made by credit card.
How much do you charge to prepare a tax return?
Due to the complexities of Australian income tax legislation we do not offer fixed prices for the completion of income tax returns.
Our fees to prepare an individual income tax return start from $165.00. This fee applies to most of our clients with basic income tax returns containing salary and wages income and work related deductions.
Our final price however will vary based a number of factors which may increase the complexity and specialist knowledge required to complete your return.
These factors include, but are not limited to;
- Rental Property Schedules (investment properties),
- Share or Options trading,
- Business schedules,
- Capital Gains Schedules,
- Foreign Income and inter jurisdictional tax issues,
- Tax Residency considerations,
- Trust income, and
- ATO requests to complete the Work Related Expense Schedule.
If you require a more detailed quote for our services prior to the commencement of work on your return, please contact our office.