M J Heywood & Co
Chartered Accountant
 

Address:
Suite 407
1 Princess St.
Kew, Vic. 3101

Phone:
613 9853 1234

Fax:
613 9853 1023

Email us

Liability limited by a scheme approved under Professional Standards Legislation

 Latest Accounting News Service
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Articles
Delays in Processing 2010 Income Tax Returns
Incorrect Super on Payment Summaries
Use a Registered Tax Agent to Improve Cash Flow
Tax Debts Deferral
Tax and the Non-resident Investors
Deemed Dividends
Making Investment Decisions – Have you done your Research?
Use a Registered Tax Agent to Improve Cash Flow
As anyone in business knows “A dollar paid tomorrow is a dollar saved today.”

This is certainly the case when it comes to tax.  If you knew that you can avoid having to pay a tax liability each November, and instead have an interest-free loan from the tax office for around six months, would you try it?  Hard to imagine, why not?

If an individual taxpayer uses a registered tax agent they can generally defer the lodgement of their tax return and payment of any final tax liability until around at least March, but often May of the following year.  This is a significant benefit for anyone paying tax.

Incidentally, the reverse of this logic applies when the Australian Taxation Office owes you a refund.  In that situation, you’re much better off getting your return in quickly.

 



1st-September-2010