We’re all human, we all make mistakes.

Fortunately, the ATO know this too – so did you know that you can amend a lodged Tax Return for up to two years. So if you made a mistake, and perhaps under claimed, or forgot about some of your deductions and expenses, or even over claimed and want to right your wrong before the tax man catches up with you – you’re able to change it.

The process is the same as completing a full return, and can only be completed through a Registered Tax Agent (such as Stirling Tax) so there’s a cost involved, however the cost of letting the ATO pick up on your mistake and fine and penalise you, or the benefit of the additional refund you were entitled to in the first place, more often than not, covers the fee.

On more than one occasion, while sitting down with clients, especially ones who previously completed their returns themselves but weren’t quite sure about it, we’ve noticed gaps. We notice places where deductions claimed last year don’t line up with what we’re doing this year, after asking a few easy questions, there’s often deductions to be hunted for an found. We’re like your own Sherlock Holmes on the case!

Simply by asking a few basic questions, we’ve found with a number of clients they’ve under claimed in the previous year, often on home office or car expenses. In these cases, we run an analysis and determine whether the benefit of completing an amended tax return to claim those legitimate deductions is higher than the cost of our fee to complete it, and in all cases so far – it’s proven to be beneficial for the client. On average our clients have received an extra $500 in their pocket.

$500! What would you do with that extra cash?

Taking advantage of a Registered Tax Agent such as us means you can share in the knowledge we have of over 7 years of dedicated tax studies and experience. It’s a passion of ours and we take it seriously.

It’s just one in a long list of benefits of using Stirling Tax as your accountant.

So if you’ve got any questions, anything you’re not sure of – simply get in touch to find out more, we’re happy to help.

Matthew.

0416 414 242

As September rolls around, the time of warmer weather comes, with it bringing the deadline for lodgement of your tax return. Don’t let the thought of your return get you down – think of this as a time to renew.

• Renew your financial goals
• Renew your savings/debt reducing vigour
• Renew yourself

Sitting down to do your tax return is often the best time to pause and look at what you earned during the year, more often than not it’s a considerable jump from the amount you expected and a lot more than you’ll have saved.

Take comfort – knowing is half the battle. Now you can look at what your goals will be for the rest of the current financial year!

Still savings for your deposit on your next house?

Looking to build your holiday fund?

Is it time to upgrade your car?

Or is having some more tucked aside for a rainy day more what you need?

Whatever it is – setting up a dedicated savings plan is the way to go about it. Simply work out a detailed budget (ask us) and see what you can reasonably afford each pay – and set up an automatic transfer on pay day.

If you don’t notice it – you won’t spend it!

Sounds simple? That’s because it is, it’s all in the doing.

So get doing! Start saving! Don’t just wait for each year to roll around and use your refund as your “savings” go one better and take control of your finances. The Future You will thank you!

At Stirling Taxation Services – we’re the accountant who come to you.

We pride ourselves on being one of the few accountants in Melbourne who are truly set up to come out to you –we do this because:

It saves you time.

No need to worry about collating and bringing all of your receipts into our office,

– They’re all handy in your filing cabinet, car glove box, or 4^th drawer…

Nor do you need to take time off work or out of your busy schedule to meet us during business hours.

We run a paperless office – all of our calculations and returns are completed online using the most up to date tax preparation software available. We take electronic signatures and even our invoices and credit card receipts are emailed to you –making storing things easier for next tax year!

As we don’t need to waste overheads on a big fancy office, complete with water cooler and whiz bang printer – we’re able to offer our service to you at a fiercely competitive rate.

Our prices are fixed upfront, so there are no nasty surprises when we’re finished. We simply swipe tap or insert your Debit or Credit card and Voi La – Tax return over.

Get in touch to see the next generation of accounting