Tax Refund

[enrico]

Hi Guys,

I just started living in Sydney for the past 3-4 months. And since its EOFY, we need to submit a Tax Refund.

Can anyone suggest how best to do this? Is it simple, that we can actually do it ourselves? Or is it better to do this through a Tax Agent? Would the amount refunded be different it was done by an Agent?

Lastly, do you guys have any input for a good Agent around the Olympic Park area?

Thanks.

[AussieFemmeInFrance]

If you have the time, I would suggest reading through the australian tax system to see how it works (I.e. the ato website is very helpful). If you don't have the time, I would recommend finding a tax agent for about $120. If your cases simple. For example, you just have an income to declare, no investment properties, foreign income, or shares.
even if you go through a tax agent, you are responsible for making sure it is correct. If you're not confident, go with a tax agent for your first time.
The aussie tax system gets complicated when you have an investment property, foreign income, shares, baby bonus, work related expenses to declare.

[enrico]

Thanks. Any recommended agent in syd? Or would there be little difference between each agents?

[Maz25]

I actually did mine myself (or more to the point, my boyfriend did it for me) for the first time this year. It's as simple as downloading the e-tax software on your computer and then following through the steps and entering all the information asked.

Some of the fields would be pre-populated, so you would only need to verify that the information is correct, before moving to the next part.

At the end, you will get an estimate of your tax refund and once ATO has verified all your information, this could even go up (mine did!). I had my refund deposited straight into my bank account about 2 weeks after after I submitted my tax return.

As Aussiefemme has said, if you're feeling confident or have someone such as a friend who has done a tax return before and who could help you out, then attempt it on your own. Otherwise, you could go to a tax agent but be aware that you would need to collect all your information such as receipts for expenses you wish to claim, group tax certificates, etc so that the agent can lodge your tax return with correct information.

I don't know about Sydney but in Perth I have actually seen tax agents set up in the shopping malls on a Saturday and people having their tax return done whilst they're out doing their shopping.

[teresacastillo]

Dear Enrico

I have been doing it myself, but I don't have anything to claim, in the case of my husband, he has been doing it for 3 years with etax accountants , they are good, you just pay like $40 dolars per year, and they do it all, they even help to know all you can claim in your expenses or childcare benefits, school benefits, etc, just google them, I dont remember their website