| Frequently asked questions What paperwork do I need to bring to an appointment?
How much do you charge?
Can I have your fee taken from my refund?
Can you prepare multiple years tax returns at the same time?
Can I claim any deductions if I have no receipts?
How long will my refund take?
Can I claim travel for my work?
I have received a dividend statement; do I need to declare this as income?
How much can I claim if I buy a computer?
How much can I claim on my motor vehicle?
How much can I claim for my wife and children?
Can I claim my work uniform as a tax deduction?
What deductions can I claim if I’m studying?
What if I don’t have a Payment Summary from a job?
I received money from the government during the year; do I need to include it in my tax return?
The Senior Australian tax offset, how does this affect me?
What is your fee policy?
Do you guarantee your work?
What are the office hours?
How do I make an appointment?
Where is Coull and Prior?
For Partnerships, Sole Traders, Trusts and Incorporated bodies Who is my contact point?
How do Coull and Prior manage the work?
What do Coull and Prior Charge?
Do Coull and Prior charge for initial interviews?
What is Coull and Prior’s invoicing policy? What paperwork do I (as an individual) need to bring to an appointment?
Individual clients are required to bring details of their income, work related deductions and other deductions. Download the checklist for the 2008 Personal Income Tax Return here. ^top How much do you charge?
The fee for tax return preparation depends upon the complexity of income and deductions involved. The fee for most “I” returns is between $115 to $125 where the fee is paid by cash, cheque or credit card at the time of preparation. That fee is tax deductible in the year paid. Payment of the fee on the date of completing the tax return will enable the refund to be sent direct to your bank account by the Tax Office. Funds will be in your bank account up to 3 working days earlier and be immediately available for use. ^top Can I have your fee taken from my refund?
We can deduct the fee from the ATO refund. Our costs in processing incur an additional fee of around $10-$20. ^top Can you prepare multiple years tax returns at the same time?
We can prepare and lodge all past year’s returns together at the same time. The current year’s refunds will be returned in the normal period but there may be slight delays with refunds coming from the ATO for previous years returns and possibly not arriving together. ^top Can I claim any deductions if I have no receipts?
Under some circumstances receipts are not required, but in order to maximise your tax deductions, we recommend you retain all your work and business related receipts and bring them with you at the time of your return preparation. ^top How long will my refund take?
Last year the Australian Tax Office (ATO) was able to process almost 90% of returns within 14 working days. We are expecting this year however, that some delays may be encountered due to data matching between the ATO and Centrelink. If your refund has been with the ATO for more than 21 days then contact the office for further assistance. ^top Can I claim travel for my work?
Home to work travel is generally not claimable except in certain circumstances. Travel between jobs on the same day and travel for work (ie. Visiting clients, doing pick-ups or deliveries) would be claimable. If you use public transport then keep all receipts and/or diary records. If you use your own car then you need to keep a log book of all business mileage travelled and all expenses of the car including petrol, repairs, registration, insurance and interest on a car loan. ^top I have received a dividend statement; do I need to declare this as income?
You need to include dividends and any other interest earned on bank accounts. Don’t forget to include all interest, even if you’ve already closed the bank account. Also if you’ve quoted your tax file number when opening a bank account then you need to declare that interest in your individual tax return, not in a partnership or trust tax return. ^top How much can I claim if I buy a computer?
If you purchase a computer for use in your work or business, you can generally claim a percentage of the depreciation that pertains to your work or business use. The depreciation allowed will depend on the expected life of the computer or how long it is expected to be current. ^top How much can I claim on my motor vehicle?
There are different methods for claiming expenses in relation to the business use of your motor vehicle. These can be complex so to maximise your potential claim you should maintain a daily mileage log book for at least three months of the year and a record of any expenses for the full year. ^top How much can I claim for my wife and children?
The amount you can claim will depend on the income levels of you and your individual family members, the age of your children and any amount already received through Centrelink payments. It is therefore important that you bring all these details with you when you attend the office to have your return prepared. ^top Can I claim my work uniform as a tax deduction?
Deductions for uniforms can only be claimed if the work uniform is specific and identifiable to your organisation (such as chef’s checked pants) or protects you from injury whilst you are at work. You can’t claim the cost of a plain uniform or conventional clothing, such as white shirt and black pants or skirt which is commonly worn by waiters and waitresses, even if your employer tells you to wear them. ^top What deductions can I claim if I’m studying?
Only study directly related to your current job may be claimed as a self-education expense. For example if you were a waiter and you were studying book-keeping then you wouldn’t be able to claim the cost of the course as a work related expense – even if you were looking for work as an accountant. ^top What if I don’t have a Payment Summary from a job?
If you are still missing one of your payment summaries then you need to contact that employer. If you can’t get one from that employer then contact the Tax Office on 13 28 61. Don’t forget to include all your payment summaries, even if you’ve only worked in a job for a couple of weeks. ^top I received money from the government during the year; do I need to include it in my tax return?
Some government payments and allowances are included as taxable income, others are not. It’s important that you declare any taxable payments such as age pensions, newstart allowance, youth allowance or austudy in your tax return. A complete list of payments which do not need to be included on your tax return can be determined when you meet with an accountant. ^top The Senior Australian tax offset, how does this affect me?
This tax offset means seniors can reduce the amount of tax and Medicare levy they pay. In some cases people may not have to lodge a tax return. ^top What is your fee policy?
We provide the best possible service for the most reasonable fee. This one time fee gives you:
> On the spot service.
> Personal attention from specialist accountant.
> Complete industry checklists to search for every legal deduction.
> Final checking, recording and lodgement of your return.
> All year advice about your return.
Our fees are fully tax deductible in the year paid. ^top Do you guarantee your work?
Every aspect of a client’s tax return will be held in strict confidence. Every return will be prepared professionally by an accountant and double checked prior to lodgement. Every legitimate deduction or rebate will be claimed. If we make an error that results in additional tax or penalties imposed by the ATO over and above your correct position we will pay that penalty or interest. Throughout the year, clients can discuss with us all matters relating to their personal taxation affairs without charge. ^top What are the office hours?
Our Office is open weekdays from 8.30am to 5.30pm. To assist full time working taxpayers, our office will be open for completion of tax returns on Saturday mornings from 9:00am to 12:30pm and Monday to Wednesday Evenings until 7:00pm during tax season, July-October inclusive. Please ring 8447 4433 to make an appointment or request an appointment or call back. ^top How do I make an appointment?
Simply call the office on 08 8447 4433 during business hours. You may book an appointment with your preferred accountant or if you are new to Coull and Prior, we can recommend someone suited to your individual needs. ^top Where is Coull and Prior?
We are located on the corner of St Vincent Street & Todd Street at 285 Vincent Street, Port Adelaide. ^top For Partnerships, Sole Traders, Trusts and Incorporated bodies Who is my contact point?
It is important that we are accessible to our clients. To ensure this we offer several points of contact - you can call or email your accountant directly. To check on the progress of your work or confirm lodgement contact Jody Bird the Client Services Officer who can attend to your needs. ^top How do Coull and Prior manage the work?
Your work will be assigned to a specific accountant who will manage your assignment. Feel free to contact them any time should you have any queries or questions. They are only too willing to help you. ^top What do Coull and Prior Charge?
After an initial consultation to determine the breadth of your work requirements we will send you a letter of engagement. This will detail the scope of the work and related costs. For work to proceed you will need to sign and return the letter of engagement. ^top Do Coull and Prior charge for initial interviews?
If the interview is to assess your needs and determine the scope of the work required then there is no individual charge. If the interview is primarily for advice then we will invoice you accordingly. ^top What is Coull and Prior’s invoicing policy?
Coull and Prior invoice periodically. We offer several methods of payment such as the convenience of cash, cheque, Visa, Mastercard and EFTPOS. Our credit terms for account holders are 7 days. Should you have any difficulty meeting these terms please contact Jody Bird our Client Services Officer. ^top
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