Let’s cover the most common questions people ask about working with AAA Taxation. 

We have compiled these frequently asked questions to provide you with a comprehensive understanding of AAA Taxation's accountants and our tax agent service.

If you have a question that is not covered below, we encourage you to visit our contact page or send us an email at allison@AAAtaxation.com.au. We will promptly address your inquiry. Additionally, if you have any concerns or queries regarding your tax return, please don't hesitate to reach out to AAA Taxation. Our dedicated staff is readily available to assist you.

 

 

When should I lodge my tax return?

Once the ATO tax portal becomes accessible after the 7th of July each year, you can only submit your tax return for the preceding financial year.

Your tax return encompasses earnings generated from July 1 to June 30 of the following year. If you require a private health insurance policy or an income statement, there's no need to fret. Our accountants will gladly acquire that information on your behalf. Just reach out to us, and we'll take care of it.

 

Why should I do my taxes at AAA Taxation?

Convenient and efficient, we offer both face-to-face appointments and online assistance via email. Our dedicated team is always prepared to assist you and address any inquiries, whether it's through online channels or over the phone.

By having a qualified accountant review your tax return for additional deductions, we aim to maximize your tax refund before submitting it to the ATO. This meticulous process ensures that you receive the refund you deserve.

Consumer surveys consistently indicate that the primary reason individuals choose to engage a tax agent is the confidence they have in knowing their return will be accurately completed. At our firm, we prioritize this aspect, striving to instill confidence in our clients by ensuring their returns are done right.

Our qualified accountants possess extensive training and experience spanning decades. With their expertise, we will guide you through the process, ensuring you receive the refund you are entitled to while avoiding any potential issues with the ATO.

 

What are the opening hours of AAA Taxation?
 

Office Hours

Monday to Friday: 9:00 AM – 5:00 PM (by appointment only)

Weekends: Closed

(All times are AEST – AAA Taxation is based on the northen end of the Gold Coast, Queensland)

 

 

What is the difference between AAA Taxation and the ATO’s myGov or myTax?

A tax agent is a professional who works on your behalf, aiming to maximize your tax refund while ensuring compliance with the ATO to avoid any potential issues.

While tax preparers are available to provide assistance, it's important to note that the primary focus of the ATO is not to maximize your tax refund but rather to collect taxes owed.

In Australia, tax agents handle a significant portion, accounting for 70% of tax returns filed.

It's worth mentioning that not all tax agents are the same. Some tax agent firms may assign your tax return to individuals who are not qualified accountants or tax agents.

At AAA Taxation, your tax return is meticulously prepared and reviewed by experienced accountants. We take pride in offering personalized support, and our friendly and knowledgeable accountants are available to assist you at any time, addressing any queries you may have.
 

 

Do I have to pay when I lodge my tax return?

The typical answer is Yes, however due to individual circumstances you can discuss this with our principal accountant to make arrangements to suit your personal situation. 

 

 

What services and support are included?

AAA Taxation and  Accountants services includes:

Tax Returns

Identifying potential tax deductions and savings clients have not considered. 

• Preparing Tax Returns
• Identifying how to reduce tax
• Learning & Development
• Reviewing systems

BAS Preparation

Preparing financial statements and BAS statements for clients. 

• Liasing with ATO
• Document preparation for Audits
• Financial Statements
• Compliance 

Tax Advice and Planning

Developing tax planning strategies to help clients secure their financial futures. 

• Understanding financial landscape 
• Fringe Benefit Tax (FBT)
• Capital Gains Tax & exemptions
• Business Structures advice

 

What will I need to lodge my return with AAA Taxation?

To complete your tax return you will need the following:

• Your Tax File Number
• Group Certificates for all jobs
• Interest Statements (incl. bank interest)
• Information about any Dividends
• Details about any Other Income
• Details of your Deductions including work-related expenses or charitable donations
• A summary from any private health policies
• Some details about your spouse’s taxable income and taxes

AAA Taxation also provide FREE tax checklists for your specific occupation.
You can download your FREE tax checklist here

If you are uncertain about any of this information or what you need to include, simply email us or fill in your query on the contact us page.

 

Do I need my Income Statement or Group Certificate?

No! As your tax agent, we can access your ATO file on your behalf and get a copy of your Income Statement, along with other information like Bank Interest, Private Health Insurance and Government Payments.


 

Is AAA Taxation a CPA certified accounting practice?

Yes! We are a CPA accounting firm.

 

How long will it take to complete my tax return with AAA Taxation?

With face-to-face appointments, your tax return can be prepared and filed while you wait for the majority of our clients.

Online returns (via email) are processed in a first-come, first-served manner.

Your online tax return will be completed by AAA Taxation within 14 days, subject to receiving all necessary information.

 

 

Do I need to keep a hard copy of my tax records and receipts?

According to federal tax law, individuals who earn a salary or wage must maintain their records for a period of 5 years, while businesses are required to keep records for 7 years. This time frame starts from October 31st or, in the case of late lodgement, from the date you file your tax return. However, if you find yourself in a dispute with the ATO at the end of this period, it is essential to retain your records until the dispute is fully resolved.

 

The ATO provides an easy to use app for record keeping. 

DOWNLOAD THE ATO APP HERE
 

 

When will I get my tax refund?

The ATO states that most tax refunds are processed within 14 days from lodgement.

 

When is the tax deadline?

When you lodge via AAA Taxation your due date is NOT the non tax agent date of October 31st each year.

Please discuss this with us if you are unsure,contact us here

 

Why do I have to pay HELP (formerly HECS) in my tax return when I have already paid it during the year from my pay?

Because it is calculated from your annual taxable income, you won't know how much you owe on your HELP debt until you file your income tax return at the end of the year. If your adjusted taxable income is higher than the minimum repayment threshold, you are responsible for repaying your HELP debt. The ATO considers payments or salary deductions made throughout the year to be a "down payment" on your taxes. They will decide if you need to pay more or get a refund after comparing those payments to your tax return.