Tax & Accounting FAQs — Illawarra Accounting and Tax

Question 1

When is the tax return deadline in Australia?

Accepted Answer

If you lodge your own tax return, the deadline is 31 October each year for the previous financial year (1 July – 30 June). If you use a registered tax agent like Illawarra Accounting and Tax, you may be eligible for an extended lodgement deadline — often as late as 15 May the following year.

Question 2

What documents do I need to lodge my tax return?

Accepted Answer

You'll typically need: your payment summary or income statement from your employer (available in myGov), bank interest statements, dividend statements, private health insurance statement, receipts for work-related deductions, rental property income and expense records, and any other income sources (e.g., freelance work, government payments). Our team will guide you through exactly what's needed for your situation.

Question 3

How much does it cost to have a tax agent lodge my return?

Accepted Answer

Our fees are competitive and depend on the complexity of your return. The good news is that tax agent fees are themselves tax-deductible in the following year. Contact us for a quote — we're transparent about our pricing with no hidden charges.

Question 4

Can I claim my tax agent fees as a deduction?

Accepted Answer

Yes. Fees paid to a registered tax agent for preparing and lodging your tax return are deductible under 'cost of managing tax affairs'. This includes fees for advice, lodgement, and any tax-related disputes. You claim these in the year you pay them.

Question 5

What happens if I lodge my tax return late?

Accepted Answer

If you lodge late without a registered tax agent, the ATO may issue a Failure to Lodge (FTL) penalty. The penalty is $313 for every 28 days (or part thereof) that the return is overdue, up to a maximum of $1,565 for individuals. Using a registered tax agent can protect you from this — agents have extended due dates and can negotiate with the ATO on your behalf.

Question 6

What work-related expenses can I claim on my tax return?

Accepted Answer

You can claim work-related expenses if you spent the money yourself (not reimbursed by your employer), the expense is directly related to earning your income, and you have a record to prove it. Common deductions include: uniforms and protective clothing, tools and equipment, professional memberships, self-education expenses, vehicle costs for work travel (not commuting), and home office expenses if you work from home.

Question 7

Can I claim my car as a tax deduction?

Accepted Answer

You can claim vehicle expenses if you use your car for work purposes — such as travelling between job sites, visiting clients, or carrying heavy equipment. You cannot claim the regular commute from home to your usual workplace. There are two methods: the logbook method (actual expenses based on work-use percentage) and the cents per kilometre method (up to 5,000 km at 88 cents/km for 2024–25).

Question 8

How do I claim home office expenses?

Accepted Answer

From 1 July 2022, the ATO's revised fixed rate method allows you to claim 67 cents per hour worked from home. This covers electricity, internet, phone, and stationery. You must keep a record of all hours worked from home throughout the entire income year. Alternatively, you can use the actual cost method if your real expenses are higher.

Question 9

Can I claim clothing as a tax deduction?

Accepted Answer

You can claim clothing if it is: a compulsory uniform specific to your employer, a registered design, or protective clothing required for your work (e.g., steel-capped boots, hard hats, high-visibility vests). You cannot claim conventional clothing, even if you only wear it for work. The cost of laundering deductible work clothing is also claimable.

Question 10

Do I need to register for GST?

Accepted Answer

You must register for GST if your business has a GST turnover of $75,000 or more ($150,000 for non-profit organisations). Taxi and ride-share drivers must register regardless of turnover. If you're under the threshold, registration is optional but may be beneficial depending on your circumstances.

Question 11

What is the difference between a BAS and a tax return?

Accepted Answer

A Business Activity Statement (BAS) is lodged periodically (usually quarterly) to report GST, PAYG withholding, and other tax obligations. A tax return is lodged annually and reports your total income and deductions for the financial year. Most businesses need to lodge both — a BAS throughout the year and a tax return at the end of the financial year.

Question 12

What records do I need to keep for my business?

Accepted Answer

The ATO requires you to keep business records for five years from the date you lodge your tax return. Records include: income records (invoices, receipts), expense records, bank statements, employee records (wages, super), GST records, and asset registers. Good record keeping is essential for accurate BAS and tax return lodgement and protects you in the event of an ATO audit.

Question 13

What is the small business income tax offset?

Accepted Answer

The small business income tax offset (also called the unincorporated small business tax discount) provides a tax offset of up to $1,000 per year for eligible sole traders and partners in a partnership with an aggregated turnover under $5 million. The offset is 16% of the tax payable on your business income, capped at $1,000. It is automatically calculated when you lodge your tax return.

Question 14

Can I claim a tax deduction for personal super contributions?

Accepted Answer

Yes, if you're under 75 and meet the work test (if aged 67–74), you can claim a deduction for personal (after-tax) contributions to your super fund. You must lodge a 'Notice of intent to claim a deduction' with your super fund before lodging your tax return. The contribution is then treated as a concessional (pre-tax) contribution and taxed at 15% within the fund, which is often lower than your marginal tax rate.

Question 15

What is the superannuation guarantee rate?

Accepted Answer

The Superannuation Guarantee (SG) rate for 2024–25 is 11.5%. This is the minimum percentage of an employee's ordinary time earnings that employers must contribute to their super fund. The rate is legislated to increase to 12% from 1 July 2025.

Question 16

Do you really offer $99 individual tax returns in Wollongong?

Accepted Answer

Yes! We offer a flat-fee $99 individual tax return for salaried employees and simple PAYG returns. This is lodged by a registered tax agent (Licence 26113206) with no hidden charges. The $99 offer applies to straightforward returns — if your situation is more complex (multiple income sources, rental properties, capital gains), we'll quote you upfront before proceeding.

Question 17

What is included in the Uber and gig worker tax package?

Accepted Answer

Our $1,499 Uber and gig worker package covers everything you need for the full financial year: GST registration (if required), all four quarterly BAS lodgements, your individual income tax return, vehicle expense calculations and logbook review, phone and equipment deductions, and year-round email support. It's designed for Uber, DoorDash, Menulog, Deliveroo, Amazon Flex, and other delivery and rideshare workers.

Question 18

How does the student tax return discount work?

Accepted Answer

Full-time and part-time students at UOW, TAFE Illawarra, and other institutions receive a discounted rate on their individual tax return. Simply bring a valid student ID to your appointment. We'll handle your HECS/HELP debt repayment check, part-time income, Youth Allowance, and any study-related deductions.

Question 19

How does the referral discount work?

Accepted Answer

Refer a friend, family member, or colleague to Illawarra Accounting and Tax and both of you receive a discount on your next service. There's no limit on referrals — the more people you refer, the more you save. Just mention the name of the person who referred you at your appointment and the discount is applied automatically. No codes needed.

Question 20

Is there a senior or pensioner discount available?

Accepted Answer

Yes. Pensioners and seniors holding a valid Seniors Card or Pension Card receive a discounted rate on their individual tax return. We'll check your Age Pension income, superannuation, franking credits, dividends, and the Seniors and Pensioners Tax Offset (SAPTO) to make sure you receive every entitlement. Home visits are available on request.

Question 21

Are you a local tax agent in Wollongong?

Accepted Answer

Yes. Illawarra Accounting and Tax is based in Stream Hill (postcode 2526) and serves clients across the entire Wollongong and Shellharbour area. We offer in-person appointments at our office, phone appointments, and can handle your return entirely by email if that's more convenient for you.

Question 22

Do you service clients in Shellharbour?

Accepted Answer

Absolutely. We regularly assist clients from Shellharbour, Albion Park, Warilla, Barrack Heights, Oak Flats, and surrounding suburbs. Whether you need a personal tax return, BAS lodgement, or small business accounting, we're your local registered tax agent for the Shellharbour area.

Question 23

Can I get my tax return done without visiting your office?

Accepted Answer

Yes. Many of our clients complete their tax returns entirely remotely — by email, phone, or video call. Simply send us your documents (income statements, receipts, etc.) via email and we'll prepare and lodge your return electronically with the ATO. You'll receive your refund directly to your bank account, usually within 2–3 weeks of lodgement.

Question 24

What suburbs in the Illawarra do you cover?

Accepted Answer

We cover all suburbs in the Illawarra region including Wollongong, Shellharbour, Kiama, Dapto, Fairy Meadow, Corrimal, Thirroul, Bulli, Woonona, Bellambi, Unanderra, Albion Park, Warrawong, Figtree, Windang, Gerringong, Helensburgh, Port Kembla, Coniston, and Stream Hill. We also offer remote services for clients outside the Illawarra.

Question 25

What is a registered tax agent and why should I use one?

Accepted Answer

A registered tax agent is a professional authorised by the Tax Practitioners Board (TPB) to provide tax agent services for a fee. Using a registered tax agent means you benefit from professional expertise, extended lodgement deadlines, protection from penalties in some circumstances, and the assurance that your return is prepared in accordance with tax law. Illawarra Accounting and Tax is registered under Licence No. 26113206 as part of Tax Agent Pathway.

Question 26

What areas do you service?

Accepted Answer

We service clients across the entire Illawarra region, including Wollongong, Shellharbour, Kiama, Dapto, Albion Park, Corrimal, Thirroul, and surrounding areas. We also offer remote services for clients who prefer to meet online or communicate by phone and email.

Question 27

How do I book an appointment?

Accepted Answer

You can contact us by phone on 0402 468 753, by email at Illawarraant@gmail.com, or by completing the enquiry form on our Contact page. We'll respond promptly to arrange a convenient time to meet in person or virtually.

Your Tax Questions, Answered

Still have a question?