What Documents should I bring?

When coming to see Southside Accounting or sending your details into us to help you with your accountant, taxation, superannuation, negative gearing, taxation return needs, etc., it would help if you had the following documents;

  1. Last years income Tax Return
  2. PAYG Summaries (Employers and/or Centrelink)
  3. Bank interest earned up to 30th June
  4. Dividends received or number of shares held 5. Managed Funds Annual Tax Statements
  5. Eligible Termination Payments
  6. Receipts for work related expenses
  7. Private Health Fund Annual Tax Statement
  8. Net medical expenses paid up to 30th June
  9. Rental properties, all agent statements, rates, levies, interest, repairs and travel.

How much does it cost?

Fees are based on the time spent preparing your financial statements and/or income tax return. Different hourly rates are charged depending on the level of experience of the staff member preparing your work. When preparing bills, we assess the ‘time-cost’ a mount as well as the value of the work done in order to decide what is a fair amount to bill for the services provided.

We can give a general indication of costs. However, the final fee is dependent on the nature of the work and the way information is presented to us.We occasionally work on a fixed fee basis. However, the time taken to quote the fixed fee is recovered in our bill.

The important thing with regards to fees is to talk about them. While it is never a comfortable topic, it is important that we don’t have a misunderstanding.

Who will be dealing with me?

This will depend on the nature of your work. You will always have access to a Director. Normally the Direector you initially meet will be responsible for the work we do for you. To keep fees to a reaso nable level and provide growth and variety of work to our staff we will sometimes allow staff members to contact you directly on certain matters. This often enables us to provide a more responsive se rvice to you as we act more as a team and you get to know more about us and the people who are actually working on your matters.

Do you do same-day refunds?

No we don’t. Your tax return, once prepared, will be sent out t o you for review and signature. Once we receive your signed ‘El ectronic Lodgement Declaration’ we will lodge your tax return. A notice of assessment (hopefully a refund) will be sent by the ATO, app roximately 14 days after lodgement.

Do you do work for people outside the greater Sydney area?

Yes. We currently service clients across the State, as well as some clients from interstate. We are quite happy to use whatever form of communication best suits you, be it a face-to-face meeting, telephone call, or a series of faxes or emails.

When is my income tax return due?

When you use a tax agent such as us, your due date is as per the tax agent lodgement program and the lodgement date is extended. Please discuss with your contact at Southside Accounting when you should bring your paperwork in to us.

Do you prepare prior years Income Tax Returns?

Yes. We can complete prior years as far back as the Australian Taxation Office will allow you to go.

Can you help with my BAS?

Yes, we do provide assistance to our clients on GST and related matters. We prefer to work with clients so they can complete their own BAS each month or quarter. This keeps your accounting fees down. We review the GST accounts for reasonableness when we do your financial accounts. We don’t guarantee to pick up everything but the things we do notice we will bring to your attention.