Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
We have rencently enrolled in one client who has outstanding trust tax return needs to be lodged. Just would like to know, are we suppose to take care of this previous outstanding tax return or should ask client to contact the previous accountant for lodgement? Thanks
From my experience, it is unlikely that your new client will want to deal with their former Accountant.
ATO Online has Tax Returns lodged by a former Accountant.
One of the difficulties with a new client with outstanding lodgements is to bring them up to date in a timely and cost efficient manner. Those with FY18 Return not lodged by June 2019 have a 31 October due date for FY19. Outstanding Lodgements not fixed in a reasonable timeframe may well affect your Lodgement Program.