Taxably Accountants

The Australian tax agent lodgment program requires tax agents to lodge 85% of their clients’ returns on time to to ATO. For income tax returns, this is generally 15 May.

Where clients are represented by a registered tax agent, and the tax agent cannot meet the 15 May due date, a deferred assessment may be filed by the tax agent extending the due date.

Where a return is filed past the due date by a tax agent at no fault of the client, the client is protected by the Tax Agents’ safe harbour provisions, and it should not attract penalties. Where penalties are issued for late lodgment, a request for remission of penalties can be submitted, and is generally successful in these cases.

FBAR needed? No worries! BSA E-Filing System registration complete! 💪🏼🇺🇸

The Dutch Consumentenbond (consumer rights organisation) has been working on compensation claims for those affected by the Box 3 wealth tax imposed on savings. Those with savings over the Box 3 tax-free threshold for the years 2017-2021 have been deemed to have been overtaxed.

The new method of determining Box 3 tax on savings came into affect during 2022 and was made available on tax software in the second half of August 2022. The new method assessed a far lower deemed rate of return over which the Box 3 tax rate is applied, resulting in much lower taxing of savings balances.

Anyone affected can partake in the claim by registering with the Consumentenbond.

Spaartaks | Consumentenbond De regering heeft jarenlang onterecht belasting geïnd over je vermogen (box 3) en moet dit terugbetalen. Wij vinden dat alle gedupeerden gecompenseerd moeten worden.

Tiny little sneak peek of the new website currently in development 😱

We have been working incredibly hard on our end on a full brand refresh, with a brand new client portal integrated website coming up very soon!

Thanks Paulien Roessink from SBS Dutch for another engaging discussion (in Dutch).

The subject matter relates to taxpayers submitting ‘whatever’ on Government forms, including tax returns, assuming such things are not checked for the little fish (low to medium income taxpayers).

Nothing is further from the truth as was evident in one of the cases we took to the Administrative Appeals Tribunal (AAT). This case in particular showed the extent of data collection by Government departments, such as flight cards completed before arrival in Australia. In this case these were used as evidence to counter-argue tax residency in Australia.

When I’m doubt, seek professional advice.

Belastingaangifte backpackers: 'Vul niet zomaar wat in, dit kan verstrekkende gevolgen hebben' 'Vul maar wat in want het maakt toch niet uit.' Het zijn veel gehoorde goedbedoelde adviezen op sociale media na vragen over visa of belasting door backpackers. Belastingexpert Marlena Lancette-Smit van Taxably weet dat het wel uitmaakt. De Australische en Nederlandse overheden delen informatie met....

And back it on Monday 💪🏼

Happy weekend everyone!