FREQUENTLY ASKED QUESTIONS (FAQ)

Below are some of the most common questions people asked about our services. We hope these FAQ give you clear understanding of Prime Accounting & Tax Solutions and the tax agent service we provide.
Please do not hesitate to contact us with any specific questions you may have if you are unable to found any answer here.

1. How can I obtain a quote from you?

At Prime Accounting & Tax Solutions, we offer all prospective clients first 30 min appointment free of charge. During this time, we understand your goals and expectations and how we can best help you. From this meeting we then have a fair idea of the amount of work that is involved and will provide a fixed fee quote. For ongoing accounting services, please call

2. What documents to bring in on the first visit?

This depends on the level & type of service required. Please contact us for details.

3. What records do you require to do my tax?

Any receipts for work expenses, your PAYG summary if one has been issued to you. Two copies of ID and your tax file number.

4. How much is your fees?

Our fees is very affordable & competitive and depends on amount of work we have done for you. Our guarantee is our fees are competitive and affordable. We provide tax services for a range of individuals and businesses. Our price structure is based on how complex the tax return is and we can provide obligation free quote upfront. For online assisted tax return preparation, we will contract you with a quote via email, phone or fax after you fill out the online form. We won’t get started on your tax return until we have contracted you to discuss your return. Our fees are fully tax deductible in the year paid.

5. What do you do with my personal information?

You personal information will reside on our secure database. You information will be electronically transmitted to the Australian Taxation Office (ATO) once you confirm your tax return is ready for lodgement. You information will not be disclosed to any other party without your prior consent in accordance with Privacy laws.

6. How long it will take to receive my tax refund?

The ATO process most refunds between 7-14 days of lodgement.

7. How much I can claim on my car for business?

This depends on how much your vehicle is used for business. We advise that you obtain a logbook and record all your business rates travel over three months. This will then give you a percentage.

8. What is the best accounting software in the market?

Although there are several options, we find that MYOB & Xero are good. Depending upon the nature of your business we can advise you the best software for you.

9. Do you specialize in small business?

Yes majority of our clients are small businesses and we are fully trained in this area. Our firm policy is, we always ensure we stay up to date with changes in the area of tax legislation.

10. How do I set up a family trust?

Out external solicitors are able to do this quite quickly for you. We would meet and work out what the trust is for and who would be responsible for the statutory compliance requirements.

11. How do I set up self managed superannuation fund?

We can refer you to a financial planner who can sit down with you and go through the advantages and disadvantages of a SMSF. They would also advise if a SMSF is suitable for retirement goals.

12. What is best business tax structure?

We can sit down with you to work our goals for your business, we take the time to investigate the advantages & disadvantages of each structure.

13. What is Chattel Mortgage?

A Chattel Mortgage is where you own the vehicle or equipment from the start of the loan contract. This enables you to claim the GST upfront when you buy at asset.

14. Do you also offer bookkeepers that come to us?

Yes our firm offers bookkeepers at affordable rates.

15. What is single touch payroll (STP)?

Single Touch Payroll (STP) is the new system where you report wages to the tax office. We are fully train and are available anytime to assist you with this.