Tax and Personal Accounting Guide

Division Guide – Tax and Personal Accounting

Tax & Personal Accounting

Maximum Tax Refund Guarantee

Let's be honest, nobody really wants to pay more tax than they need to. That's where an investment-savvy tax accountant can provide the best guidance and personalised tax advice to ensure a holistic approach to your overall financial dreams.

First things first...

Thank you for considering us!

As with all of our specialist advisory services, we’re BIG on teamwork and collaboration here at Empower Wealth and focused on client outcomes. Drawing on a wealth of knowledge and experience, we work TOGETHER towards helping you achieve your financial potential.

Qualified and professional advisors

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Know your numbers and goals

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Personalised long term strategy

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Managing household budgets is challenging for us all. From changing incomes to greater financial commitments like mortgages, having a family, education and medical expenses, there will be large fluctuations in cashflow in everyone’s life journey. Throw taxation and investment options into the mix, and most people will conclude that wealth building falls into the ‘too hard’ basket.

That’s why our team of experienced and qualified tax accountants are here to take the stress away and maximise your tax deductions while making sure that your household’s finance structure is well set up for today and into the future.

Add to this our easy-to-operate MoneySMARTS system in Moorr helps unlock your savings and surplus cash flow, and wealth building becomes a real possibility.

We’re in the ‘numbers’ business — everything from income to expenditure, savings to liabilities, cash flow to repayments, rental income to growth forecasts, provision for future plans to interest rates… you name it, we know it.

We live by the notion that your numbers and goals are everything.

That’s why we take the time to thoroughly understand your numbers so we can work with you to problem solve and find the right, tailored solution — and with our Maximum Tax Refund Guarantee, we’ll make sure you’re claiming everything you’re legally entitled to.

Personalisation is a consistent theme right across our firm. We DON’T believe that one size fits all!

Through a series of meetings (starting with a complimentary initial phone chat), we start the process of clarifying your objectives and ultimately creating a holistic tax approach for our clients.

Unlike traditional accountants, we don’t only look at your tax return for this financial year. We identify your current and future goals and objectives, review your numbers in Moorr, and advise and plan accordingly.

The Tax Return Submission Process

Our team of specialist Tax Accountants will assist you with the implementation of your tax return and strategy.

Stage 1: Initial Phone Chat

a) Understand client's unique circumstances
b) Answer any immediate tax queries the client may have

Stage 2: Tax Appointment

a) Clarify client's holistic needs
b) Evaluate the multiple tax options moving forward and provide clarification to client's queries
c) Determine the appropriate engagement and urgency of our services (tax return vs tax payable)
d) Agree to Service Fee and sign the Authority to Act and Letter of Engagement

Stage 3: Document Collection

a) Provide client with a list of documents required for tax return submission
b) Client securely uploads their tax documents into Moorr’s safe and centralised document hub. Learn more here>
c) Ensure documents are collected from clients within the due date

Here's the document collection checklist>

Stage 4: Preparation of Tax Return

a) Prepare tax return models and assess the appropriate approach to the overall tax strategy
b) Prepare a written Tax Return Plan outlining the final recommendations and deductions

Stage 5: Client's Review and Payment

a) Presentation of the Tax Return Plan to client for approval
b) Fine tuning is facilitated
c) Answer any queries relating to the strategy
d) Strategy is signed off on by client (Authority to Proceed)
e) Payment is completed by client

Stage 6: Lodgement

a) Submit lodgement as agreed upon with client

Stage 7: Completion

a) ATO to send the Notice of Assessment (NOA) to the client
b) Client to advice if there are any variances with Returns and NOA

Frequently Asked Questions

What's the Maximum Refund Guarantee?

At Empower Wealth, we are committed to ensuring our clients receive the maximum tax outcomes they are truly entitled to! If your previous tax return was prepared by Empower Wealth and you suspect an error or oversight, our expert accounting team is here to help.

We offer a review of your past return, and if we identify any mistake that results in a greater refund or a reduced tax liability, we will prepare and lodge an amendment with the Australian Taxation Office—at no additional cost to you. This service is available for returns within two years of the original Notice of Assessment.
Is the Initial Phone Chat Free and No-Obligation?

Yes, our initial consultation is free.
What documents do I need to prepare for the Tax Appointment?

We aim to make the Tax Appointment as productive as possible. For that purpose, we’ve prepared a list of documents to prepare for our meeting here.

To make it easier to collect all the documents, before the tax appointment, we will create a request in the My Documents section in the Moorr platform to upload the documents required.
What Tax Return work do we specialise in?

Our team is focused on all tax matters related to personal and property investment. We specialise in individual tax returns, from PAYG returns to contractors and sole traders. We also provide tax advice for passive trust and investment property trust.
How much will I get back?

You might be surprised, especially if you have been working from home this year as the ATO has been allowing some deductions and also provided tax cuts with the new Federal Budget to individuals and households — your return actually might be bigger than you think.
When do I need to lodge my Tax Return?
The tax return deadline is 31st October each year. If you choose to engage a registered tax agent (like us) to complete your tax return, you will be eligible for an extended tax return deadline.

If you have a refund, it is best to do your tax return as soon as practically possible, as any refunds can go straight into your offset or savings account. However, if you are anticipating having to pay tax this year, you can defer your pending tax payment into the new year as long as you engage a registered tax agent.

It can get a little confusing but here are the key dates for FY25’s tax return:
- If you don’t currently have a registered Tax Agent, your deadline for your Individual Tax Return is 31 Oct 2025. This includes if one or more prior year tax returns were outstanding at 30 June 2025.
- If you have a registered Tax Agent and
  - your returns are up to date at 30 June 2024 your deadline most likely is 15 May 2026.
  - and your latest return resulted in a tax liability of $20,000 or more, then your deadline is 31 Mar 2026.
- If you are thinking of switching your Tax Agent to us, then your deadline to change Tax Agents is the 16 Dec 2025.
How do the fees work?

Our Tax & Personal Accounting business works on a professional fee for service basis. During your appointment, we will assess your tax return needs and advise you on the level of work we need to perform for you. A Letter of Engagement will be sent to you for your approval and will outline the fees applicable. We’d like to think our fees are competitive and great value for money. We also do special offers for pensioners and full-time students.
What happens if my tax returns are audited by the ATO?

We are aware that the Australian Taxation Office (ATO) and other government revenue bodies are significantly increasing the number of investigations, enquiries, audits, and reviews they undertake. This heightened scrutiny is becoming more common, driven largely by computer algorithms, and it can occur regardless of whether your returns are filed accurately and on time. The ATO has also publicly stated their intention to focus particularly on property investors in the upcoming tax season.

If you receive a notification of an audit from the ATO or other government revenue authorities (e.g., SRO, WorkCover), our goal is to provide you with the best possible support during what can be an extremely stressful time. We are confident that our Tax Accountants have submitted your tax returns with the highest quality and in alignment with Australian Tax Legislation. Should your file be audited, we will work closely with you to provide all the necessary documentation.

At Empower Wealth, we strive to offer our services to you at minimal cost. To support this, we have sourced the most comprehensive product available: “Audit Shield” provided by Accountancy Insurance. Audit Shield covers the payment of our professional fees (which would otherwise be payable by you) when we are required to respond, on your behalf, to an audit, inquiry, investigation, review, or examination of your lodged returns or financial compliance obligations by the ATO or other government revenue authorities. This allows us to work on your behalf without adding the burden of additional professional fees that become payable by you.

FAQs and product details are available here, and our Tax Accountant can explain more about the product at your meeting.

Importantly, Empower Wealth does not receive any payment or commission by offering this service; we provide it purely as an added benefit and protection for our valued clients.