How difficult is to move our file to Myfin Accountants?
Decision making may be difficult but not the actual process. All you have to do is to inform us about your intention and then we will do all the work for you in no time.
How much does myfin charge for doing financial statements & tax returns for a small business?
There is no one fee for all clients. We need to look at your file and book-keeping systems that are in place before we can advise the fees. We can either agree on a fixed fee for the services or work on an hourly basis. In either case, we guarantee a lower fee than your previous accountant.
Does myfin form a new Company or Trust for us or do we have to hire a solicitor?
Our experienced team can form the company and/or trust and complete all the required registrations like ABN, TFN, GST and PAYG etc. We also provide the constitution, minutes, deeds and all other required documentation in a folder as part of the package.
What's the timeframe for forming a new company and/or Trust?
In most of the cases, we can form any of these entities within 24 hours of receiving all the required information. The registration may be delayed if ASIC performs further checks.
Can myfin prepare SMSF financials and audit them?
We prepare the SMSF financial statements and tax returns but will get them audited by an external independent auditor as required by legislation.
We haven't lodged our tax returns for the last few years. Can you help us lodge them now?
Yes, we can prepare and lodge the overdue tax returns for more than 10 years.
We have received ATO penalty notice for not lodging the returns on time. Can myfin assist us to waive the penalty?
We can lodge a request with ATO to waive the penalty when you have a valid reason for not lodging the return on time.
I have lodged the tax return myself using e-tax. I found a mistake after my return was assessed by ATO. Can myfin assist me in fixing this?
Yes, we can assist you in amending the returns even though we haven't prepared your tax returns.
My assessment was amended by ATO incorrectly and asked us to pay penalties, shortfall interest etc. Can myfin handle this matter for us?
Yes, myfin tax consultants are experienced in lodging objections with ATO and fix the errors/mistakes.
I have been lodging my tax returns for the last few years. Why should I use myfin for this service?
Can you confidently say that you are doing the returns correctly and claiming all the entitlements? Myfin has experienced tax consultants who can confidently say that. We just don't do returns with what you provide but take you through relevant entitlements thereby maximizing your return.
We have been doing our tax returns with a big tax firm or tax booth in shopping Centre. Why should we move to myfin?
Myfin tax consultants are not only trained people, they are also experienced and qualified. You don't do your tax returns with different people every year. You can choose to do your tax returns with the same consultant every year.
Our current tax agent is not available or office is not open after tax season. Is myfin available throughout the year?
Yes, we are available and all our offices are open throughout the year. We are not only tax agents but also accountants and finance consultants.
We have done our tax returns through myfin last year and we received ATO audit letter now. Does myfin handle this for us? How much do you charge to handle the audit/review?
At no cost to you, we will handle the audit/review if we have prepared your tax returns for that year. That's our assurance to you and is covered in your tax return fees.
How much do you charge to do the books for a small business?
Our book-keeping hourly rates start from $35 per hour and may go up to $49 per hour. The rates depend on level of expertise required, the book-keeping software used by the client and the location where the service is performed.
Why should we use myfin when we can find a specialist book-keeping firm?
Myfin can provide Accounting and Taxation services along with book-keeping. The accounting fees will be generally lower when you do the book-keeping with us as we have all the data with us and the review & co-ordination time is minimal.
What does the book-keeping include?
Our book-keeping includes
We want to do our own payables and receivables. Can you do the banking and payroll?
Yes, we encourage you to do Accounts receivable, payables and payroll when you have resources. We can provide other booking services while reviewing your work on a regular basis.
We cannot send our documents to you on a regular basis. Can you suggest an alternative?
You do not need to send us the original documents. Myfin book-keepers will set up systems in place where you can scan and store the documents that are accessible for both of us.
Can you provide us a book-keeper for 2 days a week on-site?
Yes. Our book-keepers are trained to work on different systems at client's locations. We can provide you the book-keeper for 2 days a week on a short notice. If you need book-keeper for more than 2 days a week, please give us a call to discuss.
What software do you use for book-keeping?
We use Xero, Myob, Handisoft and QuickBooks for book-keeping. Most of our book-keeping is cloud based so that all of us can access anytime and anywhere. However, if you prefer the desktop based, we can use the desktop based software within Myob or QuickBooks. If you are using any other software and would like us to use that software, we are happy to work on that.
Can you help us move our manual book-keeping to cloud based book-keeping?
Myfin book-keepers are specialized in setting up and moving to a cloud based book-keeping system. We can migrate your existing data to cloud based system without any interruptions to your business operations. We can train you and your staff in using the cloud based system in no time.
Are you accredited with all the major banks?
Yes. We are accredited with all major 4 banks along with other banks and non-banking financial institutions.How much do you charge to do the home loan for us?
We do not charge a fee to do the home loan for you. We receive commission from the lenders when we secure the finance for you. We disclose the commission amount to you in our credit proposal disclosure document.Do you charge if we do not proceed with you?
We do not charge even if you do not proceed with us. That is our service guarantee.
If I can get a home loan directly from my bank, why should we come to you?
Can you confidently say that:
We are planning to buy a house in few months' time, but need some guidance on how much we can afford to borrow and what will be our repayments etc. Can you assist us?
Myfin mortgage broker can help you with your borrowing capacity and the repayments. We are there for you from the day you made the decision until you move into your dream home.
We are looking for a land and house loan. Do you assist us during progress payments as well?
Yes, we will assist you throughout the process and make it easy for you until the handover.
Can you help us finding a good property?
Yes, we can assist in finding a right property through property profile reports and estimated valuations. We can provide all these reports to you at no cost.
We have a car loan, credit card debt, house mortgage and personal loan. Can you help us in bringing our financial matters in order?
We are specialized in consolidating all your debts and minimize the overall cost & repayments wherever possible. You can be sure that the tax consequences are also considered during debt consolidation.
We have equity in our house and paying a very high interest on our small business loan. Can you help us getting better deal?
Yes, we can assist in getting business loans at residential rates when you have equity in your house. Please contact us for further information.
How will I know when my child out grows their brace?
Some allowance for growth is built into the brace from day one. You will notice a small space between the end of the brace and toes. When your childs toes extend over that area it's time for a new one. Occasionally growth will be in the form of a wider foot rather than length. In this case, you would notice a significant amount of redness and indentation in the foot from the sides and top of the brace if this occurs.
Will my child have to wear these the rest of his life?
Obviously your child's diagnosis and the specifics of his/her condition are critical to answering this question. The best person to answer this type of question would be your child's physician. They would have the information needed to answer completely.
When my child is breaking in their braces, does it count if his is sitting and not active at that time?
For the initial break in period activity is not a factor. However once your child becomes active it's important to check every hour to ensure blisters are not developing.