Chase Capital Accounting

If your estimated tax assessment indicates that you owe the Australian Taxation Office (ATO) money, you will receive a tax payment advice from the ATO to your postal address in around 10 working days after the lodgement.

You can simply send us an email to info@chasecapital.com.au of the changes you would like to make. Please enter your name as you did on your Tax Form.

Yes. We can prepare and lodge your prior year tax returns. Any year is accepted. It is recommended that you lodge your outstanding tax returns as soon as possible. ATO may impose fines for non-lodgement of a tax return.

The normal processing time is 10 -14 working days but it is subject to the ATO.

If you live in Australia, but are not eligible for Medicare during all, or part of, any financial year, you can claim an exemption from paying the levy. To claim the exemption on your tax return, you must apply for a Medicare levy exemption certificate.

• hold a permanent resident visa or have applied for a permanent resident visa.
• were a resident of the United Kingdom, the Republic of Ireland, Italy, Malta, Sweden, the Netherlands, Finland, Belgium, New Zealand, Norway or Slovenia before entering Australia maintain a dependant or another person who was eligible for Medicare.
• are an Australian citizen living overseas for less than 5 years.

Yes. In case you have left or are leaving Australia permanently (not coming back and working within at least 2 years), you can lodge your tax return early. For example, your visa expired and you went back to your country. However you need all of PAYG payment summaries (group certificates) or equivalents as well as bank interest details.

In your profile page, enter your Date of Birth, Full Name and Tax File Number and we will be able to access your pre-filling report from the ATO The pre-filling report will provide us some basic information to get started and you will receive directions from us to help you complete your tax return online.

Income

• Group Certificates/PAYG Payment Summaries
• Bank Interest Details
• Government Payment Summaries (Pension, Austudy Allowance, Newstart Allowance etc.)
• Payment Summaries from Centrelink
• Superannuation Lump Sum/Income Stream Statement

No. All employment income need to be declared when lodging a tax return. In the meantime, you can however start using Chase Capital to enter all your other income and deduction.

You must lodge your tax return by 31st October each year. However, in case you are our existing client, an extension can be requested to ATO. You are never too late to lodge overdue or late tax returns. It is recommended that you lodge outstanding tax returns asap to avoid ATO fines.

Deductions only reduce your taxable income. Your tax amount equals taxable income times tax rate. Thus, a tax refund increases (or tax payable reduces) by the amount equivalent to an amount of deductions times tax rate.

The Australian taxation law requires that you must retain your records for at least 5 years from 31st October or lodgement date, whichever earlier.