Frequently Asked Questions

Tax Return Questions

How much does it cost for a tax return?

Every return is different; so we prefer to provide individualised quotes based upon your circumstances and as such, the fee is based upon the complexity of the return.

As a general guide, a simple individual return starts from $200.

Can I do fee from refund?

Yes, of course. There will be an additional $66 levied to cover the bank fees and additional administration.

What if I haven't lodged a return for years?

This is not a problem, we can complete all prior year returns for you. Please contact us for a bulk return quote.

I have a second job, why I am I taxed so much?

The $18,200 tax free threshold only applies to your first job. Other income is taxed at your full marginal rate.

I have lost my PAYG summary, can you still complete my tax return without it?

Yes, we can recreate your return from your payslips or we may be able to get a copy from the ATO.

I recently lost a family member, do I still have to complete a tax return for them?

Whilst this is usually a very sad and traumatic time of life, the ATO requires that a final tax return be lodged to wrap up their affairs.

Superannuation Questions

Can I set up a self managed superfund?

Self managed superfunds can be setup by anyone over the the age of 18 provided they are not a disqualified person.

What contributions can be accepted by a self managed superfund?

A self managed superfund can accept contributions from all sources including:

  • Superannuation guarantee contributions
  • Your salary sacrifice from your employer
  • Your after-tax personal contributions
  • From Government co-contributions
  • Transfer or roll-over from other superannuation funds
How many members can a self managed superfund have?

There can be be no more than 6 members in a self managed superannuation fund, however they need not be related (ie; spouse, partner, children, family members, relatives, friends or a mixture).

The individual member balances are tracked and member statements produced for each annually.

Is it possible to have only one member?

Yes. The most common arrangements are:

  • Two trustees, one is the member and the other is a relative
  • A body corporate acting as trustee
How much do I need to start a self-managed superfund?

You will need to have enough in superannuation to make a self managed superfund cost-effective and achieve investment diversification. Opinions vary as to the amount required. More members can make this easier as larger fund balances reduce relative costs.