FAQ

General questions

 

1/ Who is Online Tax Australia?

 

The Online Tax Australia service is provided by BMS Taxation Services Pty Ltd , an Australia based business founded by three bothers who each have in excess of 20 years experience working in the fields of taxation, accounting, superannuation and business management. We are all Chartered and/or  CPA qualified with a diverse levels of experience which has included working for International Accounting firms to owning and operating our own accounting practice. 

 

Our goal is to make preparing annual tax returns easy  and convenient while ensuring all customers recieve their full entitlement to deductions and refunds. Peace of mind when it comes to your tax.  All this for a price that is well less than the costing of taking your tax information to an accountants office.  (Fixed $49 price for all returns)

  

This website is fully secure and is operated with absolute honesty & integrity so that we deliver a service you can trust and recommend.

 

2/ Who can use the system?

 

The Online Tax Australia system allows individuals to easily prepare and lodge their income tax returns at anytime from anywhere in a secure environment. The process caters for all of the following types of income:-

 

Group Certificate/PAYG Income

Eligible Termination Payments

Government Payments (e.g. Pension, Austudy Allowance, Newstart Allowance etc.)

Private Pensions

Interest Income

Dividend Income

Sole Trader/Business Income

Trust Distribution Income

Income from a partnership

Foreign Income (excluding foreign pension)

Rental Income

Capital Gains

Other Income (e.g. Directors Fees, Allowances etc)

Should you have any questions regarding the system and whether it can work for you please contact our help desk for assistance either directly or via email.

 

3/ How does the system work?

 

All you need to do is answer a few simple questions with a simple ‘yes’ or ‘no’ response. The answers to these questions help to narrow down your tax return form so you only work on the areas required. If you answer a question incorrectly just go back into the interview questions and make an adjustment.  The system will provide you with a list of documents you require in order to load the required information into your tax return. Then you're ready to begin. You should be finished in about 20 minutes and your tax refund will arrive within about 14 working days. It's that easy.

 

4/ What information do I need to complete my return?

 

One of the features of the Online Tax Australia site is that after answering a set of simple Yes/No questions, we will display for you a list of the documents that you will need (e.g. Group Certificates, Dividend Statements) in order to complete your tax return on-line. There is no requirement for you to send these documents to Online Tax Australia or the Australian Taxation Office (ATO).

 

5/ Do I need to send my group certificates (PAYG) or other documents anywhere?

 

You do not need to send these documents or other statements to either the Australian Taxation Office (ATO) or to us. Simply file them away and keep them for at least five years in case there is a query in the  Insome isntances the Taxaton Office may require us to files copies of PAYG summaries.  This is usually the case where there is a larger than usual refund due.  If this is the case we reserve the right to request customers to provide us a copy of their PAYG in advance.

 

No, you do not need to provide the Australian Tax Office with a hard copy of your return. Our electronic system will lodge your tax return. You should print and sign a copy of your return and retain it for five years. In some special circumstances your accountant may request a hard copy or an email of the scanned documents.

 

6/ How much does it cost?

 

Online Tax Australia's on-line service is an affordable alternative at only AUD $49 (including GST). This modest price is much lower than the cost of some traditional methods of personal tax preparation.  There is a $10 adminsitartion fee should customers choose to pay the fee from their refund.  This adminstration fee is approximately 50% of fees charged by other online providers and everyday accounting firms.

 

7/ What payment options do you provide?

 

Online Tax Australia accepts Visa, Mastercard, Bankcard and BPay. Or, for an extra service fee of only $10 (total $59, including GST), you can elect to have your fee deducted from your tax refund. Please note that your tax refund must be at least $59 to select this option. This adminsitration fee is approximately 50% of the fees charged by other online providers and everyday accountants. 

 

You can also elect to receive you refund via a cheque in the mail. There will be an additional $10 administration charge should you elect this service.

 

8/ Will I get a cheque sent to me or can my refund be paid into my bank account?

 

The choice is yours. You can choose to have your refund paid directly into your nominated account, or have it sent via mail in cheque form. You should receive payment in around 14 working days. This service will incur a $10 administration charge.

 

9/ How do you protect me against credit card fraud?

 

Online Tax Australia uses state of the art technology (known as 128 bit encryption) in order to protect your data and your credit card details. The security technology used by Online Tax Australia represents the very latest in internet security. Online Tax Australia uses the ANZ bank's online verification system to verify credit card payments.

 

10/ What are you going to do with my personal information?

 

Your personal information will reside in the Online Tax Australia secure database. Once you confirm your tax return is ready for lodgement, your information will be sent to the Australian Taxation Office (ATO) via a direct secure link to the ATO. In accordance with Privacy Laws, your information will not be disclosed to any other party without your prior consent. For more information regarding our Privacy Policy, please click here.

 

We use advanced encrypting (known as 128-bit encryption) technology to ensure your information is protected. Our information system is located in secured facility.

 

11/ What if I don't use the Internet that often, and don't understand all that complex tax stuff.

 

Online Tax Australia provides comprehensive assistance to you at every step of the way in the on-line tax return. The assistance available includes on-line help and off-line help via a tax phone helpline, which is operated by qualified tax professionals. Our on-line help is usually more than adequate and is available at any time by clicking the "help", or "contact us" icons found throughout the on-line tax return.

 

12/ How long will it take to complete my return?

 

Once you have the relevant information at hand, on average, your tax return should take around 20 minutes. More complex returns can take longer, perhaps up to 60 minutes. Remember that you can also save what you have completed so far and then come back later to finish your tax return.

 

13/ Can I set up multiple tax return accounts for other members of my family with only one email address?

 

Yes, you can. Simply click "Get started" from the home page and proceed through the interview section. Enter your email address and make sure you enter in a different password for each new return. This will help us identify one account from another.

 

14/ What happens if I owe the Tax Office money?

 

If your estimated tax assessment indicates that you owe the Australian Taxation Office (ATO) money, you will receive a tax payment advice from the ATO in around 14 working days, at your nominated address.

 

15/ What help is there available to me?

 

There are various levels of help available to you if required.

 

a/ ‘i’ Icons

When using the system please refer to the ‘i’ (information) icons that are located within the system. These will provide advice and information relating to the specific item in question.

 

b/ Information available in the Frequently asked questions which cover general questions, tax information and operational questions.

 

c/ Help Desk

Should these not provide you with the required answers please contact our help desk by phone during working hours (9.00am to 5.00pm EST) on Monday to Friday on 

 

            Phone (03) 9852 9051 or

            Fax      (03) 9855 1844.

            Email   support@onlinetaxaustralia.com.au

 

16/ How can I be assured that what you calculate as my return is correct?

 

Online Tax Australia has thoroughly tested our calculating methods to ensure they align with Australian Taxation Office (ATO) guidelines. Rest assured, your refund will also be assessed by the ATO so it is important that you provide us with all the relevant information to calculate your return.

 

17/ What other services do OTA offer?

 

In addition to the Online Tax System, BMS Taxation Services Pty Ltd also operates a successful Taxation, Accounting and Business Consulting practice delivering a range of services including:-

                         Tax and Accounting advisory services. (all entities)

                         Income tax preparation and lodgements for Companies, Trusts and Superannuation funds.

                         Business consulting, strategic planning and management services

                        

       

System Operating Questions

 

1/ How do I delete an item?

 

There are two ways to achieve this. If you are in the form you wish to delete, simply click on "remove form" button at the bottom of the screen. Otherwise, simply go to the summary page and click on "delete item" or "delete section" next to the listing that you want to remove.

 

2/ How do I add a section to my return that is not presently there?

 

To add a section to your return you will need to go back to the interview section and click on "yes" to the relevant question. Just click on the Interview Tab at the top of the screen and then find the interview section where the relevant question is asked and change your answer to "Yes". Make sure that you click on "update" at the bottom of the screen to ensure that your changes are recorded.

 

3/ Why is the postal address on my return for Online Tax Australia?

 

If the postal address is for Online Tax Australia, this indicates that you have selected for our fee to be deducted from your tax refund. This means your assessment and refund from the Australian Taxation Office (ATO) will be mailed to us. We will then deduct our fee, and forward your assessment and the balance of your refund to you.

 

4/ What happens if I answer a question wrong? Can I change it?

 

That’s OK. You can review the information you provide at anytime and if there are any errors, you can correct them very easily. Tax Assistant Online’s powerful validation engine along with the thorough audit provided by your accountant will ensure there is no chance of an invalid return being lodged.

 

 

Frequent Tax Questions

 

1/ How do I claim a Medicare levy exemption?

 

If you are eligible to claim a Medicare levy exemption, this can be changed on the tax assessment page (where you get your final tax estimate) in the first part of the lodgement section. At the bottom of this page, you will see "Are you entitled to Medicare levy exemption. If so click here". When you click on this it will take you to the exemption page which will calculate either your full or half exemption depending upon your circumstances. Please note, if you have private health insurance you are not eligible for the Medicare levy exemption. Private health insurance only excludes you from the Medicare levy surcharge.

 

2/ What can I claim for my motor vehicle when I use it for work?

 

There are 4 different ways in which a taxpayer can claim motor vehicle expenses. These can become quite complex depending on which method is being used. The most frequent type of claim is the cents per km claim. This type of claim is limited to a maximum claim of 5,000 km. The other types of claims are the Log Book method,  1/3 cost method and 12% of operating cost method. These all require various levels of record keeping in order to be eligible to claim. The Online Tax Solution will determine which option provides the greatest claim in each particlar case . Should you not be sure what options you can or should use please contact our help desk.

  

3/ Can I claim for items/expenses that used for both work and personal reasons?

 

Yes you can claim for items that have both business and personal usage as long as the item in question represents a deduction type that is normally allowable. For example a mobile phone can be used for both business and personnal reasons.The way to claim the expense in these cases is to apportion the expense between your business/work usage and the personal use. Should you need to discuss how to do this please contact our help desk.