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About Frequently Asked Questions

Why should I use Tax Shark service?

Faster and Convenient Service: You can contact your Tax Shark Accountant at any time during the business hours online or by phone regarding your questions, you can send your confidential documents though our online system and digitally sign your Tax return, then we review your Tax return, check details, get back to you with any questions, and we lodge your tax return directly to the ATO on your behalf. Maximum Refund and Confidence: A professionally (chartered) qualified accountant will check your Tax return before it is lodged to the ATO and if there are any additional areas for extra deductions which we can identify we’ll advise you to maximize your refund. So you will get the confidence that your tax return is done right according to the Australian Tax Law. Secure: Our website is completely secure, ATO-approved, and operated with absolute integrity. We deliver a service you can trust and recommend. Help system: At every stage, you have access to online help tools plus direct help from the professional Tax Shark team.

Pre-filling means that we can automatically add information to your tax return based on the data the Australian Taxation Office already has on their database, if available. Without manually updating the information to your Tax return, you can automatically update from the prefilling and you can save your time.

To complete your Tax return you will need the following: • Tax File Number • Group Certificates for all employment income for the relevant financial year • Details about any Other Income (Business income, Rental income) • Interest Statements (incl. bank interest) • Information about any Dividends • Details of your Deductions including work-related expenses or charitable donations • Details of your private health insurance policies • Details about your spouse’s taxable income and taxes If you have any concern about any of this information or what you need to include, simply email us on support@taxshark.com.au or Call us at 1800 988 101 any time.

Yes, you can work with us. Lodgement of Tax return before the due date is very important and it’s required by the law. And you have to declare all your income accurately. So you should contact your employer or ex-employer to get the PAYG summaries. However, if you can’t get it from them, we can obtain your PAYG summaries from ATO.

Here are some commonly use deductions; • Motor Vehicle Expenses • Travel Expenses • Compulsory Uniform, Protective Clothing, Occupation Specific Clothing, Dry Cleaning • Self-Education Expenses • Other Work Related Expenses • Asset Purchase Details – Computer, Tools, Equipment, etc • Investment Related Expenses • Donations to Charity Organisations • Cost of Tax Affairs • Income Protection Insurance Premiums • Superannuation Contribution If Self Employed For more information, you can go through the below ATO website; https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/

Yes. We have a documents check list that you can refer. Please follow the below link. Reference: www.taxshark.com.au/checklist/

No, you don’t need to send any hard copy to ATO or your accountants. Once we lodge your Tax return you will receive your notice of assessment and correspondences directly from ATO later by mail.

According to Australian Taxation Law, you need to keep your tax records for at least five years from the date of your tax return lodgement.

No, once you complete your Tax return, you can sign it digitally at the sign stage, which is legally recognise in Australia. That means you don’t need to sign your Tax return physically.

Its totally depends on the nature of your tax return. Usually for a simple Tax return it takes only about 20 minutes but for a complex Tax return it may take longer.

You must lodge your Tax return by 31st of October each year. But anyway if you can’t lodge it by that date and if you are an existing client of us, we can request an extension for you from ATO. You are never too late to lodge an overdue Tax returns, but it is recommended for you to lodge all outstanding Tax returns ASAP to avoid ATO penalties.

Generally, you can expect you refund within 14 to 21 days. But this depends on the date you file the Tax return and the work period you report.

Yes, you can give bank details of your choice and refund will be deposited to that bank account directly.

No. You have to provide a bank account details to get the refund.

You can login to your online account with us at any time. Then you can check the date and time of your lodgement or any other information regarding your return under the “My Account” section.

You can contact us on 1800 988 101 or email us support@taxshark.com.au.

Yes, according to the Tax law you need to keep your records for next five years from the date of lodgement of your Tax return.

You can pay before the lodgement or you can pay from the refund you get from ATO. But if you pay from refund you will have to pay extra $25.00 for that special facility.

Please refer below link to get details about our pricing policy. Reference: https://taxshark.com.au/pricing/

We accept credit cards, debit cards, bank transfers order or our fee from refund option. More details are available on the payment section once login to your account.

Yes, you can get free help. You can find wide range of general Tax advises from our website. But if you can’t solve any problem from that feel free to contact our support staff at any time during the working hours.

Every person who is an Australian resident for Tax purpose, has to pay Medicare levy which is 1.5% of your taxable income. But it is possible to get reduction or exemption depending on your taxable Income. If your taxable income is less than the lower threshold amount which is $18,839.00, you will get a full exemption.

Yes, if you have a private health insurance, you may be exempt from Medicare levy surcharge but not the Medicare levy.

If you are a non-resident for tax purposes, you don’t need to pay the Medicare levy. So you can claim it for the relevant period when you lodge your Tax return.

Yes, you can claim the amount that you use for work from personal expenses based on an estimated percentage. But that expense should be an allowable expense.

Yes. We can deduct the fee from your refund with your approval and net funds into your nominated bank account. So you don’t need to pay us in advance.

Yes, you can claim the motor vehicle expenses that you have used for work based on one method from the following two methods. • Cents per kilometre method ➢ Your claim is based on 66 cents per kilometre for 2015–16 income year ➢ You can claim a maximum of 5,000 business kilometres per car ➢ You don't need written evidence but you need to be able to show how you worked out your business kilometres (for example, by producing diary records of work-related trips) • logbook method ➢ Your claim is based on the business-use percentage of the expenses for the car. ➢ Expenses include running costs and decline in value but not capital costs ➢ To work out your business-use percentage, you need a logbook and the odometer readings for the logbook period. The logbook period is a minimum continuous period of 12 weeks. ➢ You can claim fuel and oil costs based on either your actual receipts or you can estimate the expenses based on odometer records that show readings from the start and the end of the period you had the car during the year. ➢ You need written evidence for all other expenses for the car

Yes. You can claim Self-education expenses where the expenses are directly connected with the taxpayer’s current income-earning activities. In circumstances a deduction is allowable: Taxpayer’s income-earning activities relate to the basis to maintain or improve your skill or knowledge of employment Self-education study objectively leads to an increase in taxpayer’s income from their current.

No. If your employer has deducted very less amount of tax you might have to pay more tax on your taxable income or your refundable might reduce.

Yes. You can lodge your tax return early if you have left or are leaving Australia permanently. (but you should not come back or work within at least 2 years), But you need all of PAYG payment summaries (group certificates) as well as bank interest details.

Deductions reduce the Taxable income, and Tax will calculate base on that taxable income (Taxable income into tax rate). So deductions are not equivalent to tax refund but it helps to increase the refund or reduce the payable to ATO.

Yes. You can cancel our service at any time before the lodgement. But if we have started work on your tax return you have to pay for the work that we have done at that time. If we have already lodged your tax return you have to pay for our service as agreed.

No. Allowances you receive except Salary and Wages from employer are not deductibles. You should report it as assessable income. Followings are considered as allowances; • Travel allowances, including reimbursements of car expenses if any • Tools, clothing, and laundry allowances • Meal and entertainment allowances • Qualifications, such as a first-aid certificate or that required of a safety officer • Allowances for specific working conditions, for example, danger, height, dirt level, or time travelled But sometimes work related expenses that may be able to be claimed as a tax deduction by the employee - for example, travel between work sites.

Yes. It gets saved in every two minutes automatically. So you can continue your application without having any problem. But still if you have any problem regarding this you can contact one of our staff though our helpline at any time.

Yes, since you are a resident for tax purposes you must lodge your tax return even if it is a Nil tax return.