Ques 2- I lost my job and have found another job. Will I be taxed at a higher rate because it is considered a second job?

No, if you have lost your job, then you are entitled to claim the tax-free threshold to reduce the amount of tax that is withheld from your pay from your new job. 

Second jobs usually have a higher amount of tax withheld from your pay because you already have another job from which you are earning income and are claiming the tax-free threshold. Withholding at a higher rate reduces the likelihood of you having a tax debt at the end of the income year.

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• How long will it take for my Tax job to be processed?

  If all the tax income and deduction documents are provided in ASK Form, then the tax return will be processed and sent for signing to you in 2 Business days.  (We work Monday to Friday 9:00 AM – 6:00 PM)

• Ques - I am a working parent with school-aged children who are learning from home during the COVID-19 crisis. Will I be able to claim a deduction for the costs associated with setting them up for learning?

  No, costs relating to your children’s education are personal expenses and not deductible. Examples of costs include setting them up to do online learning, teaching them at home, purchasing school supplies or items like desks, iPads, or sporting ...

• Ques - I am considering reducing the rent for tenants whose income has been adversely affected by COVID-19 to enable them to stay in the property. The tenants are not in default of their rent. Will my deduction for rental property expenses be reduced because of this?

  No. If you decide to reduce the rent to enable your tenants to remain in the property (thereby maximising your rental return in a changed rental market), your deduction for rental property expenses will not be reduced.

• How long will it take for my Job to be processed, if I do not have all the documents yet and waiting for PAYG summary from my employer?

  If any of the mandatory documents are missing, we will wait for you to provide the documents and then we will be able to process your tax return. Once all documents are submitted, tax team will process the tax return in 2 Business days. 

• How the tax return process of Accounts NextGen works ?

  Book Tax Appointment (15 minutes free consultation) Pay Invoice for Job commencement Job for your tax return will be assigned to the ANG Tax Team and job detailed will be emailed to you. Fill and submit ASK form to provide your tax details and ...