EOFY 2025 - SUPERANNUATION CONTRIBUTION CUT OFF DATES

about us

Our Story

Our founder, Jessica Nguyen, spent more than 10 years working in accounting and saw how confusing and complicated taxes could be. Small business owners were overpaying. Freelancers missed deductions. Families worried about tax audits.

That's why the idea for XIV Tax Agent Pty Ltd was born.

The name "XIV" (Roman numeral for 14) represents Article 14 of the Universal Declaration of Human Rights - the right to seek prosperity. We help you keep more what you earn & growth it together sustainably.

Our Mission

"We are more than just a tax filer, we are solutions providers.

We provide expert guidance on tax and business solutions to help people maximise their benefits, minimise their risks and achieve financial confidence.

For our clients, when you trust us with your tax, we ensure you get every advantage you could ask for - because

your success is our priority."

Why Do You Need A Tax Accountant Instead Of Doing It Yourself ?

Maximise refunds without missing out on hidden deductions
Avoid costly when making ATO mistakes
Save Time & Stress
Strategic Tax Planning
Audit Protection than DIY

"You wouldn’t waste your water—why risk your money?"

Our Difference

Create a Win Win Solution:

"You have Benefit, I have Income."

Lower fees for Complex Return: Offer competitive pricing for complex tax returns include rental, investors, freelancers...
Better Personalised Service: Involves understanding your financial situation, goals to meet the unique needs. Focus on year round tax planning.
Transparent Pricing: Quote before the service so avoid hidden fees.

Frequently Asked Questions

Please reach us at jessica@xivtax.com if you cannot find an answer to your question.

What is the deadline for lodging tax returns in Australia? And What do I do if I miss the due date?

If you're lodging your tax return yourself, the deadline is October 31 for the financial year from July 1 to June 30. If you use a tax agent, you may be eligible for an extended deadline, which can be as late as May 15, depending on your situation. However, you must contact a tax agent before October 31, make sure the tax agent adds you as their client by the due date.

If you miss the due date, it is important to lodge as soon as you can. If you expect a tax bill, don't delay lodging because you may be liable to a late lodgement penalty. It may apply of $313 per 28 days late and interest charge for the amount you pay late.

What is tax rate for Australian resident in FY 2024-2025?

Resident tax rates 2024–25

Taxable income Tax on this income

0 – $18,200 Nil

$18,201 – $45,000 16c for each $1 over $18,200

$45,001 – $135,000 $4,288 plus 30c for each $1 over $45,000

$135,001 – $190,000 $31,288 plus 37c for each $1 over $135,000

$190,001 and over $51,638 plus 45c for each $1 over $190,000

The above rates do not include the Medicare levy of 2%.

Do the ATO check every tax return?

Yes, the ATO checks all tax returns using automated systems, which verify basic details against information from employers and other sources.

If a return seems unusual, it’s reviewed further by ATO staff. They prioritize returns based on risk, focusing on those most likely to have errors.

Each year, the ATO conducts tens of thousands of audits on individuals and businesses to ensure compliance with tax laws and fairness in the system.

Can ATO see my bank account?

Yes, the ATO can directly request information from banks under its statutory powers. This includes:

Section 264 of ITAA 1936: Grants the ATO the power to obtain information, documents and evidence from taxpayers and third parties, inluding banks.

Section 353-10 of TAA 1953: Authorises the ATO to require any person to provide information, attend an interview, or produce documents for tax administration purposes.

While the ATO’s access to bank account information is legally but they still need to issues a formal notice and is bound by strict confidentially provisions, ensuring that taxpayer information is protected and only used for tax administration purposes.

What is work related I can claim for my individual tax return?

To claim a deduction for work‑related expenses, you must have spent the money yourself and not been reimbursed; the expense must be directly related to earning your income and you must have a record to prove the expense.

Some work related you can claim:

· Work related car expenses

· Work related travel expenses

· Work related clothing, laundry and dry-cleaning expenses

· Work related self-education expenses

· Other work related expenses: union fees, subscriptions, professional associations, overtime meal expenses, reference books, magazines, safety items, working from home, work related portion of telephone, work related portion of tools and equipment, computer, office furniture.

· Depreciation of assets that use to producing assessable income

· Interest and dividend deductions such as bank fees for investment

· Gifts or donations

· Accountant fee or cost of managing tax affairs

How long to keep the records for work related deduction?

You need to keep your records for 5 years from the date you lodge your tax return.

If you claim the decline in value of a depreciating asset that you use for work, keep records for 5 years from the date of your last claim for the decline in value.

If the total amount you are claiming is $300 or less, you need to be able to show how you worked out your claims, but you don’t need written evidence.

Do I need to declare my spouse’s income on my tax return? And What happen if my spouse is a foreign resident?

Yes, you'll both need to include each other's total taxable income for the year and enter the relevant dates you are married if it is not in full financial year. ATO need your spouse information to calculate correct your Medicare levy or Medicare levy surcharge, pensioner tax offset and private health insurance rebate.

Even if your spouse is a foreign resident for tax purposes, you need to declare that you have a spouse. You also need to include their global income in the spouse income disclosures on your tax return.

What will I do if I can’t pay my debt on time to ATO?

If you don't pay on time, ATO will automatically add a general interest charge (GIC) to what you owe overdue. Interest calculates on a daily compounding basis on the amount overdue and is added to your account periodically.

If you're experiencing financial difficulties and you can’t pay on time, you should contact ATO as soon as possible to request support from ATO to set up a manageable payment plan to pay down your debt.

Or you can ask your accountant to help you negotiate with the ATO on your behalf.

Welcome to

XIV Tax Agent Pty Ltd

about us

Our Story

Our Mission

Why Do You Need A Tax Accountant Instead Of Doing It Yourself ?

Our Difference

XIV's BLOG

Frequently Asked Questions

SUBSCRIBE

free resource downloads

Contact Us

For Urgent, Please contact me via mobile phone

XIV TAX AGENT PTY LTD

Hours

Send Us A Message

Welcome to

XIV Tax Agent Pty Ltd

about us

Our Story

Our Mission

Why Do You Need A Tax Accountant Instead Of Doing It Yourself ?

Our Difference

XIV's BLOG

Frequently Asked Questions

SUBSCRIBE

free resource downloads

Contact Us

For Urgent, Please contact me via mobile phone

XIV TAX AGENT PTY LTD

Hours

Send Us A Message

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