Experts in Tax: Turning overdue tax returns into a house deposit!
Background
Lodging an annual tax return is mandatory for any individual that earns over $18,200 pa. In the case of this client, they had ten years of tax returns yet to be lodged – with late lodgment penalties, needing to collect large amounts of information and the possibility of a huge tax bill preventing them from completing the task.
Solution
As highly experienced and knowledgeable tax specialists, the team at Nav Accountants was confident in our ability to help our client. As professional tax accountants, we were able to access the ATO portal and quickly collate all required information to successfully lodge our client’s ten years’ worth of returns – including identifying any available deductions. We were able to complete this quickly and with ease.
Outcome
To our client’s very pleasant surprise, instead of a tax liability they were entitled to receive a significant tax refund. In fact, their refund was enough for them to put a deposit on a house they were planning to buy – a very successful outcome!
From simple individual tax returns right through to complex lodgments for businesses, the team at Nav Accountants will help you achieve the best possible outcome. And if you haven’t lodged your return in a number of years? Don’t panic – just talk to us!
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