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We are a registered tax agent and a certified practicing Accountant and have been so for over 50 years. A registered tax agent is the only one qualified to invoice you to complete a tax return. Similar to a doctor diagnosing patients and an engineer building bridges- you use us for our expertise which will allow you to focus on what you do, avoid unnecessary risks and potentially avoid an audit.

Lodging your tax returns through the ATO systems Versus doing them with Roy A. McDonald

We are not sure how much you love paperwork, but most of our clients prefer to leave the worry, hassle and deadlines for us to take care of. We can help you organise the paperwork and make sure all documents are completed satisfactorily to lodge your returns.

When you work with us and we put you on our lodgement program,  as long as you do not have any outstanding tax returns from prior years, you will receive an additional 6 plus months to lodge your tax returns. This is certainly helpful if you are tax payable or need more time to prepare your tax returns.

The ATO are happy if you claim deductions that are legitimate and that actually occurred. If however, you miss a deduction and miss out on a refund, money you are legitimately entitled to, the ATO are not going to actively pursue you. However, if you don’t claim income that you should have been taxed on, they will pursue you.

This is why we will make sure you are claiming all income and all legitimate expenses. This will give you peace of mind and make sure you are doing the right thing.

Couple/Employees/ 2 children/Investment property

After having their previous year’s tax returns prepared by a franchised accounting firm, they came to us to prepare their tax returns. The cost for us to prepare the returns was $200 more than that charged by the other tax firm but additional deductions found by us resulted in a $600 increase in their tax refunds.

Mary from Templestowe purchased a hairdressing business. She decided to complete her individual tax return online.

The result: She received a huge tax bill from the ATO because she didn’t complete it properly.

Thankfully we were able to fix Mary’s mistake. Our experience and relationship with the ATO meant we were able to fix the problem and reduce her liability. We saved her money and reduced her risk.

Lodge Your Tax Returns in the New Year

Sometimes we have unexpected expenses and a potential refund from the ATO could assist our cash flow. With Christmas here and gone, it makes sense to lodge your tax returns now.  After all, it is your money and is a benefit to you to receive it sooner than later.

Going Overseas?

This is not a problem as technology like Skype and WhatsApp makes it easy to communicate. We can also do most activities through email and scan (take photos) of any required documents. Refunds can be processed without you being in the country through the technology that is available now.

Lodge Your Overdue Tax Returns

It is never too late to lodge your overdue tax returns but why delay any longer.The government’s aim is to pursue all tax owed to them and the ATO’s policy is for you to have all tax returns lodged where you have earned income; it doesn’t matter how much time has passed.

The ATO are tracking outstanding tax returns and if you don’t lodge them, you could be up for costly fines, penalties and worst case scenario gaol time! It is important to lodge them every year as soon as they become due.

We believe we are best to assist with overdue tax returns for the following reasons:

  1.  We have been around since 1965 and have lodged well over 30,000 tax returns in this time
  2. We have dealt with the ATO more than 10,000 times for our clients in the last number of years.
  3. We are easily accessible should you wish to ask a question and follow up  status of returns.

It is important to remember, the ATO are become increasingly active at chasing overdue tax returns as they are trying to recover as much tax as possible. If you wait a long period of time, and don’t lodge you could be penalised from the ATO. We cannot predict if the ATO won’t charge penalities, even if you are refundable. Given that we have liaised and dealt with so many clients and the ATO over 51 years, we are best equipped to assist you get the best outcome from the ATO and your return.

Here are some case studies

Brian had 7 tax returns outstanding and so did his wife. We were able to maximise his benefits and his refund was over $30,000.

Louey had separated from his wife and had a child-2 years old who was ill a lot of the time. He had not lodged tax returns for nearly 10 years. Even with a positively geared rental property, he still had a refund of nearly $15,000.

Keith due to circumstances out of his control had to go bankrupt. He was left with a 23,000 debt to the ATO. After working with us and the ATO, we were not only able to completely pay off the ATOs debt but provide a refund of over $19,000.

Your situation and your tax efficiency is a case by case situation. We cannot promise a refund, but suggest that by making sure you’re not missing out on legitimately claimable items (ie tax deductions that actually happened).

How Do We Work?

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When you call or make the enquiry, in order to make sure you are prepared we provide you an email and call you to establish that you have all information to complete the returns and understand the process. We clarify your needs and our clients have commented that they have felt as ease and there were no surprises going into the initial meeting.

Unlike other accounting firms, you will meet our client manager first who takes you through what to expect when seeing our accountants. He will establish what deductions might be applicable and also advise you of cost.

We like to separate the process from seeing the accountant first as it allows clients to feel more comfortable before proceeding.

In this initial meeting, we look from a financially holistic perspective. As we are financial planners and have close relationships with Mortgage brokers, business coaches and lawyers, we like to use the expression that the “Left hand knows what the right hand is doing”.

We will communicate with you at the start, during (depending on the complexity) and the end of the work. This will help confirm if we are on track or if there are any surprises that we were not made aware of, before we started the return. We also like to advise where we have added value and what work has been done so there is complete transparency.

You will be pleased to learn that if you are refundable, there is no cost to you upfront. Any outlay will be provided at the end of the job if you are refundable. We process any refunds seamlessly and urgently within 24 hours of receiving the money

We are unable to advise upfront or over the phone, what the total expense may be until we understand what work has to be done.

However, we are able to offer both fixed prices and time based prices if required. Fixed pricing can help clients with poor cash flow and time based invoicing can help those clients who are not as organised as others.

We work best with clients that are business owners, contractors and clients who have multiple years tax returns outstanding. The reason why is:

(1)  Our years of experience mean we are well equipped and understand businesses

(2)  Our strategic alliances include lawyers, BAS agents, business coaches and mortgage brokers who can further assist

(3)  We are both financial planners and accountants- which means we can assist in most facets of business.

Please refer to our Business Planning page and our individual and specific industry pages for further details.

Some reasons you may not have lodged your tax returns

Don’t worry if this has occurred as we can work with you and the ATO on options. The most common is a missing group certificate or any record of my income for a certain year. This is fine, because in most instances your employer was supposed to notify the ATO of your income and tax. However if they haven’t, we can use pay slips or bank accounts to determine the correct amount of tax and income. If all else fails, we can liaise with the ATO on options for you.

If it is an expense or deduction refer to our article [here] to get further details of how you can claim it, or alternatively give us a call on 03 9848 5933 to discuss this further.

If your income is below the tax free threshold or you had no income, you are still required to notify the ATO. We will work with you and make sure the most appropriate option is completed. This lets the ATO know that you were not required to lodge a tax return that year.

We will work with you and the ATO. As we are both accountants and financial planners we can assess your cash flow and complete a budget for you.

As explained above, as you get a longer period to lodge your tax returns, we can complete the work and then focus on paying of the ATO and our invoice. If cash flow is tight, we can provide you payment plans for our invoices and work with the ATO on payment plans.

Finally not completing a return is worse than owing the ATO money. The ATO can be very reasonable when you have fully disclosed what you owe or a problem that may have occurred as you get information lodged accurately and honestly. When we get notifications from the ATO that you owe the ATO money we will call you to make sure we do not need to get involved and assist you. The longer you wait, the harder it will be to catch up. When you have completed the returns, we have found our clients feel a sense of achievement and relief.

In Summary

Act now- Waiting or procrastinating will be worse than taking action, even if you are refundable. To discuss this and other information from this page call our office on 03 9848 5933 or fill out our contact form.

*Please note: This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. We cannot guarantee that the ATO won’t charge late fees as this will depend on your individual tax history, but we can negotiate with the ATO for you to minimise any penalties. We cannot determine when the ATO process refunds.