Tax

[nutty]

So, I want to ask a question about tax returns..

Say I know a person who has not done there tax for 5ish years, they cant find there group certificates and some of the companies they work at has closed down. Whats the best way of getting this all sorted? should I.. er they go and just see a tax accountant? or are they just going to tell me to bugger off and find group certificates

[Montey]

The easiest way is to do things through an accountant.

I recently just cleared 5 years of tax returns, one of which had to be done manually by the accountant because I didn't have a group certificate, due to the employer going in to receivership.

The worst case scenario is that you have to sign a statutory declaration outlining your income for that year (or years) and as long as you can show bank statements with deposits, etc..., then you should be fine.

Of course, it should be said, that I am not an accountant and you should seek your own professional advice.

[Latch]

There's not much an accountant can do with no info. Even looking at bank statements won't do much good, as there is no evidence of what tax was withheld and paid by the employer.

If the employer has closed down and there is no way of getting hold of a group certificate from them, you could try contacting the ATO. An employer must lodge all payment summaries with the ATO each year. Armed with your Tax File Number, and the employer's ABN and name, you may get something from the ATO.

I am an accountant by the way.

[nutty]

Far out, thats what I was kinda afraid of.
I guess being a lazy prick hasnt done me any favours, I guess ill call the ATO and see what they say

[Rots]

We did the same Nutty a few years back, both my wife and I that is and it was 5 years as well. We went to an accountant with what information we had and then chased up copies of missing Group Certificates from previous employers (actually our accountant did that, she sent letters to them).

Luckily we didn't get fined and ended up with a few thousand $$ which really helped out at that time

[Latch]

Yeah they're unlikely to fine you if you're due for a refund. Just means they can sit on your money for longer than they need. If you owe them money and lodge 5 years late you'd be in for a hiding.

[dvestate]

Along this topic any ARSE accountant's that want to help out with questions about Tax returns????

I've been doing mine for a few years and usually have a question or 2 that need answering, I tried a few years ago going to one of those main stream tax joints but I knew more about what I could/couldn't claim than the bloke that was meant to be a professional

I've never looked for an actual accountant, and havn't had recommendations as most people I know either do it themselves or they head to a general tax joint......

[nutty]

Thanks for the advice agian guys, I really need to get off my ass and book an accountant, ive found a few group certificates, but for the life of me cant find the others in my pile of shit.

That and I cant remember how long since I last did a tax return