2020 Tax Return
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Every individual in Australia is bound to pay an income tax unless their income is exempt or falls within the exemption limit. It is better to lodge the returns before the deadline so that no penalty is levied by the ATO.
If you are also looking for an expert to file your individual tax return for any year then you may reach the Auditax team by making use of the online booking tool or the contact us form. Our team of experts will reach out to you to understand your circumstances. We ask you some questions to understand s your case better and work out maximum returns. After finalizing your return, we double-check the return to make sure all deductions and offsets have been properly accounted for.
Steps for Filing Individual Tax Returns
Here is the description of the step-by-step process that we follow at Auditax for lodging your individual tax returns.
1. Gather Information
When we connect with you, we obtain information about your occupation, sources of income, tax return file, and other relevant factors. During a conversation with your, our team will interview about some questions to understand the possible deductions and exemptions that can be claimed in your case. Also, if any particular information about your previous tax returns is not available with you, then we can help you extract the same from the ATO tax agent portal.
2. Preparation of Tax Return
Once we have all the information our team of tax return accountants prepares your tax return. If we require any additional information then we arrange a call with you within 24 hours. After compiling the final information, we provide you with a complete copy of the tax return.
After you receive a copy of your tax return prepared by our tax return accountants you can review the same at your end. If you feel any gaps are there you may give us a call and we would get the same resolved and share the final tax return with you.
4.Expert Review and Return Lodgement
When you give your heads up regarding the copy of your income tax return our senior tax experts go through it once again to ensure 100% accuracy and thereafter, lodge the return with the ATO.
5.Receive Your Tax Refund
If refund is due to you on your income tax return then you would usually receive your tax refund within 7-12 working days. You must ensure to get your returns filed within the deadline to ensure faster income tax refunds.
Auditax Accountants offer a wide array of Accounting services to businesses throughout Australia.
Individual Tax Return
Overdue Tax Returns