Accounting & Taxation

Q. Is there a faster way you can process my tax return?

Customers who are short of time can try our drop off express tax. The new express tax not only saves you time but ensures you receive the maximum entitled refund.

With the introduction of our express tax return system, you can now simply drop off your tax on your way to work and pick up your completed return on your way home from work that evening! The return is processed by our staff while you are at work or play and completed for your signing and review before the day is out.

For a copy of the Express Tax Form click here.

Q.What expenses are classified as tax deductible?

There are many deductions that you can claim for expenses incurred while performing your job but, to support your claim, you need to make sure you have the receipts to prove the purchase or, if this is not possible, you will have to keep written records, such as log books or expense diaries.

Work-related expenses you may be able to claim as tax deductions vary depending on your occupation, although guides can be found on the ATO website.

Q. I have started a second job. How can I make sure I am paying the right amount of tax?

You cannot claim the tax free threshold of $6,000 from more than one employer at a time. It is better to claim it from your main employer. You will pay a little higher rate of tax on the second job but this should ensure that you have paid enough tax on all of your wages for the year.

Finance

Q. What are the advantages of using a broker instead of going to a bank or other lender?

A broker can give you access to a large range of lenders and their products. This means you are far more likely to get the home loan that’s best for your needs. Brokers also fill in most of the paperwork – a big saving in time and hassle.

Managing your home loan application is another big advantage. A broker will follow up with lenders and settlement agents to make sure that financing occurs at the right time.

A broker can also advise you how to get any stamp duty relief or first home buyer grants for which you may be eligible.

Q. After the home loan is set up, who sends me mortgage statements – the broker or the lender?

The lender will send you all the documentation and statements directly. You can contact your lender about your home loan at any time, though you may find it more convenient to go through your broker.

Q. What sort of home loans are available from brokers?

Brokers provide access to home loans from all the main banks, building societies and other lenders. In total, they can offer a range of 800 products from more than 30 lenders.

Q. Do home loans cost more if you get them from a broker instead of direct from a bank?

No, the costs are the same. From the bank’s perspective, whether it pays a broker or an employee, either way there is a cost associated with selling a home loan.

Q. Do I have to pay a mortgage broker to set up my home loan?

No, AFG accredited brokers are paid a commission by the lender that provides you with a home loan.

Q. If I buy a home loan from a broker, do I still need to go see the bank or other lender who provides the home loan?

No, this is all handled for you by the broker.

Wealth & Lifestyle

Q. What can I expect from my first visit with a financial planner?

At your initial appointment with our partners RI Advice Shepparton, Financial Adviser Sandy will spend time getting to know you, your goals and objectives. This will help us determine the type of advice required and whether we can work together to achieve your goals.

Following this meeting, RI Shepparton will provide you with a questionnaire to complete so we have all the background information we need to develop an appropriate investment strategy.

A letter of engagement will also be provided that will confirm the terms of the service we provide, as well as how much you can expect to pay for our advice, implementation and ongoing service.

Q. What happens next?

The next step is to develop a strategy to suit your particular situation and goals. Adviser Sandy Miller draws on her own experience as well as the research and technical resources of the RI Advice Group to develop a range of strategies and then identify which is the best for you. The strategy we recommend will be presented to you in a written Statement of Advice.

From then on it's a case of implementing your strategy - then reviewing it regularly, and adapting it as things change over the years ahead.