Our Fees and Terms

How we charge for our work

Please note that these tems don't apply to Financial Advice and SMSF Financial Advice Services.  Terms and fees for these services are dealt with on their own separate webpage and outlined fully in the Financial Services Guide (FSG).

Whenever possible, we charge flat rates instead of traditional time-based fees.  Our flat rates reflect the average amount of time we dedicate to most tasks.  Of course, when a job is significantly more involved than is typical, our fees will reflect this.

Your return will be prepared by a registered tax agent and qualified accountant who is an owner of the business. We don't outsource and we are not a franchise. This means your income and expenses will be confidently explained and explored to find your tax saving opportunities. Your consultation with us will be educational and productive. You'll be given a full copy of your tax return with all the worksheets so you can understand how your return was prepared.

We won't surprise you with $extra$ charges for every single expense deduction or other item which needs to be included in your personal return.  This means you can be confident budgeting for us to prepare your return.  If you are unsure or want to discuss factors likely to affect the overall cost, you are welcome to contact us to discuss your individual circumstances.

We work with you and add value whilst containing your costs. Our excellent resources and time-saving strategies can help you obtain the best outcome from our services. Discounts available for couples, f/t students and multiple years.

Indicative prices:

 

Tax Services for Individuals

Indicative Prices including GST

Individual Tax Return - Salary / Wage Earner

For a typical salary/wage earner who submits an online tax return questionnaire to us before the meeting. This includes claiming some deductions, rebates and other sources of income e.g. bank interest, some dividends, managed fund annual statement. Also includes pre-meeting support, templates, and a 30-40 min. meeting to finalise your return to lodge on the same day.

From $176

With complex, extensive or high-value deductions; special professionals; individual tax returns that by their nature require additional time and expertise.

Add from $55 to $275

Income from Trusts and Portfolios where a tax summary has not been provided or where a reconcilliation is required.

 Add from $55

Personal Services Income - for a typical contractor with a primary source of income, who records their own income and expenses in a compliant cash journal or transaction listing.

Add from $121

Sole Trader, not registered for GST Business Schedules - doesn't include bookkeeping or accounts re-preparation.

Add from $220

Sole Trader, registered for GST with self prepared Business Activity Statements.

 Add from $396

Annual GST Return.

 From $295

Foreign Income Schedules and tax-residency issues - can be simple or very complex.

Add from $77

Rental Property - with accompanying agent statement and totals recorded on our checklist. Fees can be shared between owners, e.g. one property with two owners.

Add $264 per property

Rental Property - with detailed schedules, privately rented or holiday homes, new investments. Fees can be shared between owners e.g. one property with two owners.

Add $464 per property

Capital Gains for Shares - fees depend on complexity and volume. 

Add from $66

Capital Gains for Property - with original costs, in an asset register, provided by you.

From $220

Preparation of Tax Agent Certified Asset Register of your original records.

From $330

Amended Tax Return - a minimum fee applies, however total fees can be time based.

From $132

Client Update (CU) Form - if not required to lodge a tax return, includes provision of advice.

From $55 to $165

Fee From Refund - trust account admin fee charged if you want to pay us from your refund

$55 for 1 year plus $25 per extra year for multiple returns .

Discounts for couples, full-time students, multiple overdue tax returns.

10% - 20% off

Quick emails, phone calls and incidentals related to completing and lodging your tax return

usually free

Being well organised helps to minimise our fees.

Incorrect or missing information, and information supplied in stages or multiple emails, can increase the time, and hence the cost, to prepare your tax return. Our online tax return questionnaire is designed to help you avoid this.

If you provide extra information after your tax return has been completed, or if we need to chase up more information after the meeting, an additional fee of $50-100 or more may be charged to re-prepare your tax return and send it to you for review and signing before lodgment.

 

Business Tax and Accounting Services

Company, Partnership or Trust Tax Return

- Includes preparation of Annual Set of Accounts with ledgers, journals and reconciled financial statements.
- Includes a consultation to review the annual accounts and plan for the year ahead.
- Additional fees apply for: BAS, Annual GST, PAYG, FBT and Super reporting statements.

Partnerships typically between $440 and $990.

Companies with 1-3 employees typically between $1,320 and $2,200.

Email us your requirements and request a call to discuss

Initial consultation - the first 15 minutes are complimentary (companies and partnerships only) to establish whether we're a good fit for your business, after which time a time-based fee is charged. 

$220 per hour after the initial 15 minutes.

Establish private company (Pty Ltd). Includes ASIC disbursements, a consultation and ATO registrations. Or for establishing a Trust (trading, family trust) with standard trust deed.

From $1,210.

Business Activity Statements (BAS) - the fees vary for all types of activity statements depending on the size and scale of your business and the accounts preparation required.

Typically between $165 and $330

 BAS Amendments - correction of activity statements including those required to correct self prepared statements reconcilled during the preparation of individual tax returns.

 From $132

Fringe Benefits Tax (FBT), payroll, salary packaging, superannuation guarantee, GST advice

Call to discuss

Preparing and lodging ABN and GST related registration forms, ASIC forms

From $110

Cash flow analysis and budgeting, preparation of financial reports

Call to discuss

Record keeping and accounting system 'health check' - Includes a written report with recommendations for improving your business's tax compliance and reducing risk of ATO audit.

$220 per hour, minimum one hour.

Onsite Business Services Manager. Provides oversight to your bookkeeper or can assist you with record keeping at your office. Review budgeting, receivables, purchases of equipment, supplier arrangements, business plans and other strategic considerations.

From $110 p/h plus expenses

 

Other Services - Administration and Bookkeeping

Application for a Private Ruling; Objection to an ATO Decision; Assisting with an Audit

From $330

Bookkeeping and accounts preparation, data entry, classifying transactions, GST coding, bank accounts reconciliation. Payment of a deposit is required before we start work.

$77 p/h subject to availability.

Bookkeeping & BAS package with BankLink/Xero to stream transactions *time-saving great value*

By agreement

Collating, printing and sending you a 'replacement copy' of your tax return and related schedules

From $44

Writing a letter to support your loan or rental application, provided with copies of your tax documents

Standard letter with taxable income, notice of assessment and copy of last tax return $77

 

* Please note - rates may change without notice

 


 

Payment of our Fees eftpos-visa-mastercard

We accept payment in cash or by EFTPOS, Mastercard and Visa.

Upon completion of your tax return we'll give you a tax invoice.

Immediate payment is required for most returns, normally at the end of a tax meeting.

  • If your tax return cannot be completed in the meeting - e.g., due to missing or incorrect information - we will require immediate payment for the meeting. This payment will be applied as a non-refundable deposit towards the total fee we charge for preparing your tax return.
  • When we complete your tax return by mail we'll send you the final invoice, with payment required for the balance of our fees.
  • Being well-organised for your tax meeting avoids delays and keeps our fees to a minimum, and we provide excellent online resources to help with this.
 
Business clients are normally given an estimate of costs following a complimentary initial consultation conducted in person or over the phone.
  • We need to get a good understanding of you and your business and what's required - and you need to be comfortable with us and our approach - before we can let you know what to expect from us.
  • A partial upfront payment may be required before we commence work.
  • Fees-funding is available to clients who like to manage their cashflow by spreading payments of a large lump sum expense over a 6-12 month period (conditions apply).
  • We can also offer an upfront monthly payment plan customised to your needs if you have ongoing accountancy requirements.

When coming to a meeting:

For the benefit of our clients and staff, Newtown Tax Services operates a healthy workplace policy. For all our health, we respectfully ask that if you are sick, please call to reschedule your meeting.

We like to be able to give you our full attention during your consultation to ensure the best outcome from your tax return. We ask that you use discretion over whether to bring children and be aware that if the meeting is disrupted it may need to be rescheduled. We have a professional duty to exercise due care and diligence and can't do that when major distractions are happening around us.

 

 

 


 

 

Standard Terms of Engagement - Newtown Tax and Business Services (Other than Financial Planning Services)

What we will do:
  • We will prepare your Income Tax Return and, for a business, an Annual Set of Accounts, based on the information you provide to us.
  • We will lodge your Income Tax Return with the Australian Taxation Office in time to satisfy regulatory requirements provided you give us your information in sufficient time.
  • We will provide general taxation advice and taxation based structuring advice, including business tax advice and any other advice we are qualified to provide, as requested by you.
  • We will liaise and communicate with the Australian Taxation Office as necessary on your behalf as your Tax Agent.
What we will NOT do:
  • We will not audit your accounts and therefore will not be able to form any opinion of their accuracy
  • We will not be looking for irregularities or errors, including fraud and illegal acts. However we will notify you if we suspect something might not be quite right.
Period of engagement for a tax return preparation service:
  • The engagement will start as soon as you accept these terms of engagement.
  • The engagement will end as soon as we have been paid in full.
Your responsibilities:
  • You are responsible for the completeness and accuracy of all the information you give us.
  • You agree to disclose all relevant information to us and arrange reasonable and timely access to relevant individuals and documents to allow us to do our job quickly and efficiently.
  • You are ultimately responsible for the resulting Annual Accounts and Income Tax Return we prepare on your behalf under this engagement.
  • You must advise us if you become aware of any conflict of interest or a change of circumstances which may result in a conflict, e.g., a matrimonial dispute, change in business relationships or structure, litigation.
  • You are responsible for paying our fees within the terms of credit.
Our responsibilities:
  • We are responsible for keeping any information we get from you confidential.
  • Unless we have your consent, we will not disclose this information to any other party unless required by law. However our files may be subjected to quality control review by the professional accountancy body of which we are a member. If this occurs we will notify you in advance.
  • We are responsible for doing your work in accordance with Tax Agent Services Legislation and the professional and ethical standards issued by the Accounting and Ethics Standards Board (APESB).
  • Limitation of Liability: Our liability under this engagement is limited by a scheme approved under Professional Standards Legislation. Further details are available on request.
Fees:
  • Our fees are calculated on basis of time spent on your work by members of our staff.
  • The rate used is based on the degree of skill and responsibility involved.
  • We will charge you separately with any direct expenses we incur on your behalf.
  • We will issue a final invoice when we finish your work.
  • An additional fee is charged for our time if you later instruct us to re-prepare your tax return with new information.
Ownership of Documents:
  • All original documents remain your property. However we will make and retain copies for our records.
  • We will produce an Income Tax Return and, if a business, an Annual Set of Accounts as a result of this engagement.
  • These documents belong to us until you have paid our fees in full, then they will belong to you. All other documents we produce belong to us. 
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