Welcome to Scott Turner & Associates.

Why should you use a tax agent to assist in fulfilling your annual tax return obligations?

To help you get it right!

Preparing a tax return is so universally unpopular and confusing that around 73 percent of the population use the services of a tax agent to prepare their return and for businesses, that percentage rises to 95%. And for those who do prepare their own return, mistakes are easily made despite following the Tax Pack or using e-tax, and unfortunately just as easily found by the tax office with their ever extending compliance programs and data matching systems.
(Source ATO Statistics for 2005/2006 year)

Depending on your own personal taxation situation, you may find you simply don't have the time or the resources to deal with the complexities of the taxation legislation. And if there are matters that you don't fully understand, it's a good idea to have a tax specialist review your situation. Depreciation, Capital Gains Tax, property ownership, business ownership and the like are all intricate tax issues which may require special attention.

At the end of the day, you can rest a little easier at night knowing that your taxation affairs have been completed correctly and accurately.

In addition, any fees you pay in relation to dealing with your taxation affairs are tax-deductible as long as the fee is charged by a registered tax agent.

Data Matching

The tax office now matches your tax return data with many other organisations including banks, building society's, the Australian Stock Exchange, managed funds, land titles offices and other government agencies including Centrelink.

The risk of missing something and having a "friendly" letter or telephone call is substantial and having a tax agent prepare your return can minimise this risk.

The Penalties for Mistakes

If you make a mistake on your tax return, not only can you potentially underpay tax and incur a tax penalty, but you may actually overpay tax and accidentally penalise yourself. Therefore it's worth the extra cost of having an accountant or tax agent prepare your return.

Even if the tax office does not issue you with a penalty for an inadvertant mistake or oversight, you will be charged interest on any underpayment of tax. The rate of interest charged on under or late payments of tax is currently 12% (July-September 2011).

Extension of Time to Lodge AND Pay

You are legally required to lodge your previous years taxation return by 31 October of the same year. That means, your taxation return for the year ended 30 June 2011 must be received by the tax office by 31 October 2011.

If you are owed a tax refund, the Tax Office is generally not too concerned if you lodge after this date, as you are effectively penalising yourself.

However if you owe the tax office money, considerable late fines can apply, which start from from $110 and rise to as much as $550 in only four months.

In addition, you will be required to pay any interest charged on the outstanding tax back dated to 31 October of the year in question.

However, if you register with a tax agent prior to 31 October, you may have up until the 5th of June of the following year to lodge AND pay any outstanding tax, with no penalties or interest. To receive this concession, you must be registered with a tax agent by 31 October and then also lodge your return via a tax agent.

Quicker Refunds - Don't Believe It

Whilst there are many reasons to use the services of a tax agent, several of which are outlined above, you should be aware that using a tax agent doesn't mean that you will receive your tax refund any sooner. Whether you lodge your return through a tax agent or lodge it yourself via e-tax, you should still receive any refunds owing within approximately 14 days.

How to choose a tax agent

The law requires that tax agents be properly trained and registered with the Tax Agents' Board. You may ask to see the tax agent's registration certificate, or call the Tax Agents' Board on 1300 362 829 to confirm their registration details.

You should consider the following issues before choosing a tax agent:

• Is the agent registered with the Tax Agents' Board?
• Is the agent a member of a professional body that has continual professional development requirements? Look for letters such as CA (Chartered Accountant) or CPA (Certified Practising Accountant)
• Will the agent be around next year to provide a follow-up service?
• Does the agent have experience in your area?

If your tax situation is more complicated or you run a business:

• Does the agent provide additional services such as retirement or superannuation advice, GST advice, lodging BAS Statements, preparation of financial statements and help in setting up a business?
• Is the agent willing to help with any Tax Office reviews or audits which may eventuate?
• Does the agent understand the substantiation or record keeping rules in relation to tax returns?
• Will the agent act on your behalf on such matters as amendments to prior year returns?

Why use Scott Turner and Associates?

Giving up control of your tax affairs to another person can be risky and we undestand and respect the trust you place with us.

Our checklists and processes are designed to ensure that mistakes are eliminated and that we consider all aspects of your taxation affairs to ensure you include all the relevant income in your tax return and claim the full extent of the tax deductions and tax rebates to which you are entitled.

We treat your tax return as we would treat our own and just as we don't want to pay any more tax than we have too, we know that neither do you.

It's a competitive market, but cheapest isn't necessarily best.

Our fees start from $88 (including GST) for a basic lodgement and rise according to the time required and the complexity of your taxation affairs. Obviously, the more complex the return, the higher the fee.

Our fees may not be the cheapest, but then you will not be receiving service from a "tax specialist" who has completed a 10 week course in tax. Scott Turner has over 12 years experience in preparing the taxation returns and financial statements of individuals and business entities and prides himself on the quality of his work.

For more information regarding our fees, you may like to review our fees policy.

We offer a mobile service and will come to you.

Finalliy, we like to get out of the office and find that attending your home or office ensures that completion of your return is done quickly and effectively as all the relevant information is usually at hand. Appointments are available during regular business hours and also weekday evenings. Alternatively, we can forward you a checklist of required information and you can either post or email the information to us for processing.

If you would like to find out more or make an appointment, please submit your details below and we will contact you as soon as possible.

Scott Turner & Associates respects your privacy. We will use your email address for the sole and express purpose of contacting you regarding your income tax return. For more information, please refer to our full privacy policy.

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