Frequently Asked Questions

You need to lodge a tax return as soon as possible to avoid being penalised. If you don't have all your paperwork, don't worry. As the ATO has automated information from companies, it is likely we will be able to identify the amounts you have missed. Call us to make an appointment at your nearest office today.

If you earned money in this financial year and are an Australian resident for tax purposes then yes, you will have to lodge an Australian tax return. If you have not paid tax on the money you earned i.e., you earned less than the tax free threshold currently at $18,200, and no tax has been withheld by an employee or by Centrelink, then you will still need to lodge a non-lodgement advice instead. If you don't, the ATO will assume you need to lodge and take action to force you to lodge.

Yes, we can prepare business returns such as, Sole Trader, Partnerships, Trusts and Companies. We also offer business and bookkeeping packages for an affordable weekly fee.

To get a rough guide to how much you may get back, why not try our helpful tax calculator? For an accurate estimate, please ask your consultant at your appointment.

Whilst every effort is taken to have your return lodged the day it is prepared, usually tax returns are lodged the next day after being checked by our tax agents.

At the time of making the appointment, please let your consultant know you went to another ITP store last year and they can obtain your information prior to your appointment time.

This tax strategy is the ability to offset the expenses associated with owning the investment property against assessable income. This includes interest paid on the property.

If your taxable income claimed on your ABN is under $75,000 then no you do not have to register for GST but you may do so if you believe you will grow beyond that in the current financial year. If you are earning income as an Uber driver, you MUST be registered for GST.

We are open later and even open on weekends across key stores and kiosks during tax season. To find out if your nearest ITP has extended trading hours this tax season simply search for your nearest ITP on our website and contact one of our tax professionals today.

No. You only have to pay tax on earnings you make whilst in Australia. Should you choose to invest the money you brought with you into a bank account or investment, then you will have to pay tax on the interest only.

Yes we do! We can manage your bookkeeping with the latest technology and utilising up to date and advanced accounting programs. Keeping your records under control and organised makes BAS, GST and payroll easy. Speak to one of our tax agents to assess your needs.

For salary and wage earners our tax returns start from just $133, and business returns start from $390. For a more accurate price, please ask your consultant at your next appointment.

Yes, however you will need written authorisation from them to prepare the return. They will also need to sign the relevant sections of the tax return before lodgement. This can also be done through email.

The rewards are based of the level of membership and consecutive tenure with ITP Queensland. However, benefits may include:• Discounts on eligible tax returns• Monthly prize giveaways• Bookkeeping Solutions discounts• Exclusive events• Partner promotions and discounts• Monthly Newsletter

Yes we do. When you are an ITP Queensland customer we can complete all your bookkeeping requirements with ease on a regular basis, even as your business grows. You also have our team at your disposal all year around.

We have approx 30+ permanent offices across Queensland and approx 20+ kiosks at tax time this year. To find a store near you visit the offices page on our website and search by your suburb or have a browse on the map for your most convenient location.

Yes! Whether you have purchased or are selling your property, we can assist you to work out what capital gains tax you have to pay and what you can do to reduce it through deductions.

The following is a list of eligible tax returns for members to maintain or increase their Loyalty level:• Individual tax return / Sole Trader• Franking Credit• Cu Form• Online Tax Assist

Once we have prepared your return, it is lodged with the ATO on your behalf. The ATO processing time is usually around 2-3 weeks, however, they can take up to 28 days. If you feel it's been longer than this, please contact the office your return was done by.

We have a handy 'what to bring for an appointment' checklist, which can be downloaded from our website.

Capital gains tax (CGT) is paid on an investment property when it is sold or otherwise disposed of. Capital gains tax is taxed differently to regular income but does affect your income tax bracket. Speak to our specialist tax agents to find out more.

ITP Queensland's tax specialists are still able to assist you if you are having trouble recovering information and receipts for your tax return. Our relationship with the ATO allows us to ascertain relevant information about previous years assessments and submission made against your Tax File Number. In addition, we can give you advice on how to recover your lost information with the assistance of the ATO and their requirements to complete your return.

The ATO may issue late tax penalties to late or missed tax returns. It is important to get up to date as soon as possible to avoid penalties and defaults whether you are an individual or business.The ATO is more likely to apply a penalty if:a) you have more than one tax return outstandingb) you have a poor lodgement history, orc) you have not complied with a request to lodge your tax return.

There are a number of deductions (Interest on Mortgage, Property Management Fees, Insurance, Repairs, Rates, Utilities etc) that you as a property owner will qualify for as well as depreciation on your assets.Please note that this is a simplified list, and eligibility for deductions may vary depending on your specific circumstances and the type of property you own. It is recommended to consult with a tax professional or accountant to ensure you accurately claim deductions and meet all legal requirements.

The following tax returns are not discounted:• Amendments• BAS• Company Tax returns• Trust tax returns• Partnership tax returns• Bookkeeping Solution clients• Cu forms• Online Tax Assist

Your partners information is used by both the ATO and Centrelink, to ensure you have received the correct benefits and paid the correct Medicare levy/surcharge.

It can all seem quite stressful once a tax return deadline has been missed. Whether you have been tied up with work, been overseas or have missed several previous years you still need to lodge a tax return every year. Your best chance of getting up to date, as well as a great refund is by making an appointment with one of our ITP tax professionals to discuss your unique situation. Call an office today to book your appointment and reclaim your peace of mind.

Complete & lodge a tax return at any participating ITP Qld office or Kiosk and we will automatically add you to our loyalty program, there is no cost involved.

ITP loyalty was introduced on the 1st of July 2021. Therefore, an eligible tax return must be started on or after the 1st July 2021 but before 30th June 2022, for the member to be entitled to receive the Loyalty discount and membership.To maintain loyalty status the member must consecutively lodge an eligible tax return with ITPQLD within the current financial year. As in, not starting a tax return one year and starting two the following, does not constitute the member maintaining their loyalty level.If a tax return is voided or marked as no pending action the member will not maintain their current loyalty status.Loyalty is not valid with any other offer or promotion except $0 up front. If member choses an alternative offer, loyalty discounts will not apply. However, they will maintain their loyalty status.Not valid for:• Amendments• BAS• Company Tax returns• Trust tax returns• Partnership tax returns• Bookkeeping Solutions ClientsEligible tax return must be lodged at a participating ITPQLD office or kiosk.

No, the loyalty program is valid only at ITPQLD and participating stores as below: Ashmore, Logan Hyperdome (Mall), Australia Fair (Mall), Loganholme, Beenleigh, Mackay, Beenleigh (Mall), Marsden, Big Top, Mt Gravatt (Mall), Birtinya (Mall), Mt Ommaney Sh.Ctre (Mall), Booval Sh.Ctre (Mall), Mt Pleasant, Boyne Plaza (Mall), Mt Pleasant (Mall), Brisbane City, North Ipswich (Riverlink), Brookside, North Lakes, Bundaberg, North Lakes (Mall), Burleigh (Mall), Pimpama City (Mall), Cairns City, Red Hill, Capalaba, Redbank Plaza, Carindale (Mall), Rockhampton, Castletown (Mall), Sarina (Seasonal), Chermside, Sherwood, Coomera (Seasonal), Southport, Gladstone, Southport Park (Mall), Goodna, Stones Corner, Grand Plaza, Taigum, Grand Plaza (Mall), The Pines, Hervey Bay, Toombul, Hervey Bay (Mall), Townsville, Inala Town Centre (Mall), Tweed Centro (Mall), Ipswich, Warner, Kin Kora (Mall), Wynnum Plaza, Kirwan, Bundaberg Mall, Yarrabilba, Logan Central, Yeppoon (Mall)

We offer a $0 Upfront tax return, which means you'll pay nothing on the day and have our fee taken from your refund for a small additional fee. Terms and conditions do apply, so see our website for details.

Yes you can walk in, we have 50+ locations Queensland wide, however during the tax season we do recommend to make an appointment at a time that suits you. Use our office finder, to find your nearest ITP.

Yes!! We can obtain your Income Statement (formerly called a Payment Summary) from the tax agent portal.

To become a loyalty member, you need to be an individual who is over the age of 18.

Yes! Please ensure you retain your receipt from our services as your record for tax purposes. Your fee is fully tax deductible in the year in which the fee is paid. The receipt number should also be provided to ITP whenever making an enquiry with us.

Yes, our fees are charged per tax return.

If you earned money in this financial year and are an Australian resident for tax purposes then yes, you will have to lodge an Australian tax return. If you have not paid tax on the money you earned i.e., you earned less than the tax free threshold currently at $18,200, and no tax has been withheld by an employee or by Centrelink, then you will still need to lodge a non-lodgement advice instead. If you don't, the ATO will assume you need to lodge and take action to force you to lodge.

No, but you are required to disclose certain information regarding the property in your tax return such as capital gain on a sale of the property, any rental income and rental expenses incurred.

No. While we understand the desire for same-day refunds, we believe it is important to set realistic expectations and prioritise accuracy and compliance in our processes. Focusing on these ensure we can maximise your return and reduce the chance of ATO audits.

No, Privilege Plus memberships cannot be transferred from a member to another person.

The Privilege Plus Loyalty program has multiple tiers based on client loyalty and engagement with ITP Queensland. Clients move up tiers based on factors such as the number of consecutive years they have used our services.

The rewards are based of the level of membership and consecutive tenure with ITP Queensland. However, benefits may include:• Discounts on eligible tax returns• Monthly prize giveaways• Bookkeeping Solutions discounts• Exclusive events• Partner promotions and discounts• Monthly Newsletter

Tier advancements in the Privilege Plus Loyalty program are typically reviewed annually or periodically to ensure they reflect the current level of client engagement and loyalty. Any updates or changes to tier criteria will be communicated to members in advance.

Yes, our levels of membership are below:• First time customer to ITP QLD – Silver member• Two – nine-year consecutive customer to ITP QLD – Gold member• 10+ year consecutive customer to ITP Queensland – Platinum member

Complete & lodge a tax return at any participating ITP Qld office or Kiosk and we will automatically add you to our loyalty program, there is no cost involved.

ITP loyalty was introduced on the 1st of July 2021. Therefore, an eligible tax return must be started on or after the 1st July 2021 but before 30th June 2022, for the member to be entitled to receive the Loyalty discount and membership.To maintain loyalty status the member must consecutively lodge an eligible tax return with ITPQLD within the current financial year. As in, not starting a tax return one year and starting two the following, does not constitute the member maintaining their loyalty level.If a tax return is voided or marked as no pending action the member will not maintain their current loyalty status.Loyalty is not valid with any other offer or promotion except $0 up front. If member choses an alternative offer, loyalty discounts will not apply. However, they will maintain their loyalty status.Not valid for:• Amendments• BAS• Company Tax returns• Trust tax returns• Partnership tax returns• Bookkeeping Solutions ClientsEligible tax return must be lodged at a participating ITPQLD office or kiosk.

No, the loyalty program is valid only at ITPQLD and participating stores as below: Ashmore, Logan Hyperdome (Mall), Australia Fair (Mall), Loganholme, Beenleigh, Mackay, Beenleigh (Mall), Marsden, Big Top, Mt Gravatt (Mall), Birtinya (Mall), Mt Ommaney Sh.Ctre (Mall), Booval Sh.Ctre (Mall), Mt Pleasant, Boyne Plaza (Mall), Mt Pleasant (Mall), Brisbane City, North Ipswich (Riverlink), Brookside, North Lakes, Bundaberg, North Lakes (Mall), Burleigh (Mall), Pimpama City (Mall), Cairns City, Red Hill, Capalaba, Redbank Plaza, Carindale (Mall), Rockhampton, Castletown (Mall), Sarina (Seasonal), Chermside, Sherwood, Coomera (Seasonal), Southport, Gladstone, Southport Park (Mall), Goodna, Stones Corner, Grand Plaza, Taigum, Grand Plaza (Mall), The Pines, Hervey Bay, Toombul, Hervey Bay (Mall), Townsville, Inala Town Centre (Mall), Tweed Centro (Mall), Ipswich, Warner, Kin Kora (Mall), Wynnum Plaza, Kirwan, Bundaberg Mall, Yarrabilba, Logan Central, Yeppoon (Mall)

Privilege Plus Loyalty benefits are generally exclusive and may not be combined with other promotional offers, unless stated otherwise. We encourage members to inquire about specific terms and conditions when redeeming their benefits.

No, the following is a list of tax returns which receive the discount:• Individual tax returns/ Sole trader• Franking credit tax returns

Moving up to a higher tier unlocks additional benefits and privileges, such as increased discounts on tax preparation fees, priority access to appointments during busy periods, exclusive invitations to events or workshops, and personalized service enhancements.

Privilege Plus Loyalty members enjoy a range of benefits, including discounted tax preparation fees, special offers on additional services, priority booking during peak periods, and exclusive promotions throughout the year.

You need to lodge a tax return as soon as possible to avoid being penalised. If you don't have all your paperwork, don't worry. As the ATO has automated information from companies, it is likely we will be able to identify the amounts you have missed. Call us to make an appointment at your nearest office today.

If you earned money in this financial year and are an Australian resident for tax purposes then yes, you will have to lodge an Australian tax return. If you have not paid tax on the money you earned i.e., you earned less than the tax free threshold currently at $18,200, and no tax has been withheld by an employee or by Centrelink, then you will still need to lodge a non-lodgement advice instead. If you don't, the ATO will assume you need to lodge and take action to force you to lodge.

To get a rough guide to how much you may get back, why not try our helpful tax calculator? For an accurate estimate, please ask your consultant at your appointment.

Whilst every effort is taken to have your return lodged the day it is prepared, usually tax returns are lodged the next day after being checked by our tax agents.

At the time of making the appointment, please let your consultant know you went to another ITP store last year and they can obtain your information prior to your appointment time.

If your taxable income claimed on your ABN is under $75,000 then no you do not have to register for GST but you may do so if you believe you will grow beyond that in the current financial year. If you are earning income as an Uber driver, you MUST be registered for GST.

The ATO may apply penalties for late BAS lodgement. It's important to meet deadlines to avoid these penalties.

Companies benefit from a lower tax rate on profits, ability to carry forward losses, and eligibility for various business-related deductions.

ITP Queensland specialises in providing tailored tax services for small businesses, including BAS lodgment, tax planning, compliance advice, and maximizing eligible deductions. Our experienced professionals can help navigate complex tax laws, minimise risks, and optimize tax outcomes for your business.

We are open later and even open on weekends across key stores and kiosks during tax season. To find out if your nearest ITP has extended trading hours this tax season simply search for your nearest ITP on our website and contact one of our tax professionals today.

Yes we do! We can manage your bookkeeping with the latest technology and utilising up to date and advanced accounting programs. Keeping your records under control and organised makes BAS, GST and payroll easy. Speak to one of our tax agents to assess your needs.

For salary and wage earners our tax returns start from just $133, and business returns start from $390. For a more accurate price, please ask your consultant at your next appointment.

Yes, however you will need written authorisation from them to prepare the return. They will also need to sign the relevant sections of the tax return before lodgement. This can also be done through email.

Yes, certain industries may have specific deductions available, such as R&D tax incentives for technology companies or fuel tax credits for transport companies.

We have approx 30+ permanent offices across Queensland and approx 20+ kiosks at tax time this year. To find a store near you visit the offices page on our website and search by your suburb or have a browse on the map for your most convenient location.

Yes! Whether you have purchased or are selling your property, we can assist you to work out what capital gains tax you have to pay and what you can do to reduce it through deductions.

The following is a list of eligible tax returns for members to maintain or increase their Loyalty level:• Individual tax return / Sole Trader• Franking Credit• Cu Form• Online Tax Assist

Once we have prepared your return, it is lodged with the ATO on your behalf. The ATO processing time is usually around 2-3 weeks, however, they can take up to 28 days. If you feel it's been longer than this, please contact the office your return was done by.

We have a handy 'what to bring for an appointment' checklist, which can be downloaded from our website.

ITP Queensland's tax specialists are still able to assist you if you are having trouble recovering information and receipts for your tax return. Our relationship with the ATO allows us to ascertain relevant information about previous years assessments and submission made against your Tax File Number. In addition, we can give you advice on how to recover your lost information with the assistance of the ATO and their requirements to complete your return.

Yes, you can lodge based on estimates and make adjustments later.

The ATO may issue late tax penalties to late or missed tax returns. It is important to get up to date as soon as possible to avoid penalties and defaults whether you are an individual or business.The ATO is more likely to apply a penalty if:a) you have more than one tax return outstandingb) you have a poor lodgement history, orc) you have not complied with a request to lodge your tax return.

The following tax returns are not discounted:• Amendments• BAS• Company Tax returns• Trust tax returns• Partnership tax returns• Bookkeeping Solution clients• Cu forms• Online Tax Assist

Your partners information is used by both the ATO and Centrelink, to ensure you have received the correct benefits and paid the correct Medicare levy/surcharge.

It can all seem quite stressful once a tax return deadline has been missed. Whether you have been tied up with work, been overseas or have missed several previous years you still need to lodge a tax return every year. Your best chance of getting up to date, as well as a great refund is by making an appointment with one of our ITP tax professionals to discuss your unique situation. Call an office today to book your appointment and reclaim your peace of mind.

A BAS is a form used by businesses to report and pay various tax obligations to the Australian Taxation Office (ATO), such as GST, PAYG withholding, and other taxes. Businesses registered for GST typically need to lodge a BAS quarterly or annually, depending on their turnover.

We offer a $0 Upfront tax return, which means you'll pay nothing on the day and have our fee taken from your refund for a small additional fee. Terms and conditions do apply, so see our website for details.

Yes you can walk in, we have 50+ locations Queensland wide, however during the tax season we do recommend to make an appointment at a time that suits you. Use our office finder, to find your nearest ITP.

Small businesses have various tax obligations, including income tax, Goods and Services Tax (GST), PAYG withholding for employees, and possibly fringe benefits tax (FBT). Understanding these obligations and how they apply to your business is crucial for compliance.

Companies can claim deductions for business expenses, employee salaries, superannuation contributions, depreciation, and specific industry-related expenses.

Yes! Please ensure you retain your receipt from our services as your record for tax purposes. Your fee is fully tax deductible in the year in which the fee is paid. The receipt number should also be provided to ITP whenever making an enquiry with us.

Yes, our fees are charged per tax return.

No, but you are required to disclose certain information regarding the property in your tax return such as capital gain on a sale of the property, any rental income and rental expenses incurred.

Small businesses can claim deductions for a wide range of expenses incurred in running their business, such as wages, rent, utilities, insurance, professional fees, marketing expenses, and depreciation of business assets. It's important to ensure expenses are directly related to earning assessable income and are supported by appropriate documentation.

The tax implications vary depending on the business structure chosen. Sole traders report business income and expenses on their personal tax return, while partnerships and companies have separate tax obligations. Each structure has its own considerations regarding tax rates, deductions, and compliance requirements.

Small businesses should keep detailed records of income, expenses, and other transactions related to their business activities. This includes invoices, receipts, bank statements, payroll records, and records of asset purchases and sales. Good record-keeping ensures accurate tax reporting and compliance with ATO requirements.

There are a number of tax concessions that you may be eligible for if you are a small business entity, i.e., turnover is less than 10 million dollars (the turnover threshold).These include:• Instant write-off for assets under $30,000 (threshold $10 million).• Small Business Income Tax Offset (threshold $5 million).• CGT Concessions (threshold $5 million)

No. While we understand the desire for same-day refunds, we believe it is important to set realistic expectations and prioritise accuracy and compliance in our processes. Focusing on these ensure we can maximise your return and reduce the chance of ATO audits.

There are several strategies to minimise tax for small businesses, such as claiming eligible deductions for business expenses, utilizing depreciation on business assets, managing timing of income and expenses, and taking advantage of small business tax concessions offered by the ATO.