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July Tax Rush

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Affinitas Accounting Clients Join the Billion Dollar July Tax Rush

Tax time 2020 is well and truly in full swing, with the ATO reporting its “biggest 1 July ever”, with over 740,000 online lodgements on that day alone, up from just 100,000 lodgements on 1 July 2019.

The first two weeks of July resulted in 1.7 million individual tax returns lodged, a 12 per cent increase on the same period last year. The average refund amount this year currently stands at $2,365.

ATO assistant commissioner Karen Foat said more than $1 billion had already hit taxpayers bank accounts, with processing continuing into the third week of July.

This busy start to the tax season has seen our Affinitas Accounting tax team working hard to keep up with demand. New online and remote systems of working have helped improve turnaround and efficiency.

Affinitas Accounting clients are embracing the convenience of virtual appointments and it is enabling more appointments to be held, and more returns to be processed, each day.

Affinitas Accounting’s senior tax consultant Deb Duncan says the new systems are working well. “I think people are this year finding remote returns so much easier and more convenient,” Deb said.

“I always look forward to catching up with a lot of my regulars during tax season, but we can still do this via phone, email and/or Zoom – just like we’ve all had to with our families and friends,” she said.  

“And with the Covid-19 related health issues happening in southern states,  we feel we are doing our little bit to help minimise anything like that happening in Queensland.”

Early mistakes

However, the ATO has urged early lodgers to take care in preparing their returns, with early analysis having revealed three trending mistakes.

Ms Foat said the first issue included claiming multiple working-from-home methods for the same period, with some taxpayers accidentally or deliberately confusing between the ATO’s recently introduced 80 cents shortcut method and its standard 52 cents fixed-rate and actual cost method.

“It’s important to remember that if you’re claiming under the working-from-home shortcut method for 1 March to 30 June 2020, you can’t claim any other expenses for working from home for that period,” Ms Foat said.

“If you want to specifically claim the depreciation of big-ticket items like laptops or desks, you can use one of the existing methods, but you can’t double-dip and claim under the shortcut method as well.

The second issue was where taxpayers simply copied and pasted their deductions from the previous year, failing to account for a reduction in claims due to COVID-19. In many cases, taxpayers will have reduced expenses for claims such as work related travel and uniform due to working from home.

The final issue was the failure to report all income, with prefill information unlikely to be 100% accurate so early into the new financial year.

“Unfortunately, we can confirm that approximately one in five people who lodged early won’t be getting their refunds in the first batches out because they didn’t take the time to include all their income,” Ms Foat said.

For those lodging early, it was crucial check information like cash wages, foreign income and all interest/dividends were included.

To book your virtual 2020 tax appointment, contact or phone 07 3359 5244.

Need friendly advice? Talk to our staff today about how we can help your business succeed.

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  • I’ve been dealing with Affinitas Accounting for about 3 years now and I have found them to be nothing but friendly and helpful. I’m a Bookkeeper and on occasions have been stuck with various accounting problems. Affinitas have not hesitated to spend time with me until the problem was solved. Any queries or questions have always been answered in a timely manner.

  • I highly recommend coming here for all your tax needs! They explain everything you need to know about tax thoroughly and go about there jobs professionally, always leave here with a cheery smile and satisfaction.

  • Affinitas Accounting has been so helpful with the restructure of my business. They made it an easy process and explained it in a language that was easy to understand. My ongoing tax and gst is all prepared by them, they’ve really taken the stress out of it all to let me focus on growing my business.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Rebecca & Russel Johns

    Since moving to Affinitas Accounting we have a clear understanding of companies and trusts. We have no hesitation in saying the team here will meet and then exceed your expectations! I never feel like i am annoying them. Thank you Team Affinitas

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Paul Maclaine

    Affinitas has looked after all our financial needs for our business and personal tax returns. We have been with our accountant for 10+ years. I have no hesitation in recommending Affinitas to anyone looking for an accountant or any financial advise. We have always found and received friendly professional and practical advise.

  • For the past 6 years, Tammy has been lodging our tax. The team always spend the time to explain how things will affect us and always manage to maximise our returns. We highly recommend the team to anyone we speak to and have had friends move to do their future tax with the team at affinities accounting. Couldn’t recommend them highly enough.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Kirsty Whittaker

    I’ve been using Deb from Affinitas Accounting now for many years and have found her to be excellent in looking after my taxation needs. I’m in Tasmania, Affinitas Accounting is in Queensland and distance is no barrier. She understands my business needs, everything is done in a friendly and efficient manner and I happily recommend to anyone looking for ‘down to earth’ taxation advice.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    David Williams

    We’ve been with Affinitas Accounting for over 5yrs when they were known as Online Accounting & Taxation Solutions. From our initial phone call with Brad looking for an accounting team that would meet our expectations as well as provide efficient service, we’ve been really impressed with the team’s professionalism, knowledge & expertise.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Allyson O'Connell

    Debbie is our accountant and has been for seven years. She is thorough and always does what she can to honestly get us the best return but always adheres to the ATO guidelines. We recommend her to our friends and wouldn’t take our business to anyone else. Thanks Debbie.

  • We have only been with Affinitas Accounting for the past 12 months but in this time they have by far exceeded our expectations of an accountant and far surpassed previously used accountants.
    Affinitas are not just about annual returns, BAS statements etc, they take the time to get to know you enabling them to provide advise to help you work toward personal & business goals.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Mark D’Andrea

    Can’t fault Affinitas.

    Have been coming here for years (when it was then called online tax). Deb has been happy to always go the extra mile and doesn’t mind dispensing helpful advice throughout the year.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Deagon Fixing

    I have been a client of Affinitas Accounting (previously Online) for the past 8 years. It is like a one stop shopping experience, all my needs were addressed in the one office.

    Thanks Affinitas you for all your assistance and I would strongly recommend them to anyone to use

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