RA Business Advisors

Tax

Stage 3 Tax Cut Changes

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The Prime Minister has officially announced the following proposed changes to the Stage 3 tax cuts: 

  • Lower the tax rate from 19% to 16% for incomes ranging between $18,200 and $45,000 
  • Reduce the tax rate from 23.5% to 20% for incomes between $45,000 to $135,000 the newly established threshold.  
  • Increase the income threshold at which the 37% tax rates apply from $120,000 to $135,000  
  • Increase the threshold at which the 45% tax rate applies from, $180,000 to $190,000 

Therefore, assuming that the necessary legislative amendments are approved, the Australian resident personal income tax rates from 1 July 2024, will be as follows: 

From 1 July  2024 
Resident Individuals   
Up to $18,200 Nil  
$18,201 to $45,000 16% on part over $18,200 
$45,001 to $135,000 $4,288 + 30% on part over $45,000 
$135,001 to $190,000 $31,288 + 37% on part over $135,000 
$190,001 and over  $51,638 + 45% on part over $190,000 

The Treasury has furnished a tax savings calculator on their website.  

For more information about these measures please click here. If you would like to discuss in detail how these would affect your tax position feel free to contact us.

Filed Under: Tax

ATO Reminds Businesses to Pay Before They Disclose Their Debts

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Businesses are being urged by the Australian Taxation Office (ATO) to comply with their tax and superannuation obligations in order to avoid having their debts disclosed to credit reporting agencies.

Since July 2023, the ATO have returned to regular debt collection procedures, and have issued Notices of intent to disclose business tax debts to over 22,000 businesses with a tax debt of at least $100,000 that are extended over a 90 day period.

This month, debts from over 9,000 businesses are anticipated to be disclosed.

According to ATO Assistant Commissioner Jillan Kitto, making payments with the ATO is the only solution in avoiding your businesses’ tax debt to become evident in credit rating checks.

Businesses in debt are to contact the ATO immediately, as Kitto stated, ‘We aim to collaborate with businesses to assist in managing their debts’. This enables a sufficient chance for businesses to reconnect with the ATO. Nevertheless, for those who persistently and continuously neglect their tax and superannuation responsibilities, their debts will be disclosed.

The ATO anticipates that over 50,000 notices of intent will be issued in the 2023-24 financial year.

Although during the pandemic, the ATO’s priorities were shifted from debt collection to providing stimulus payments and assisting with tax matters, it is essential to reestablish the practice of timely tax payments.

Businesses that currently meet the criteria for disclosure have accumulated debts exceeding $5 billion.

Therefore, if you have an outstanding tax debt, the ATO strongly urge you to pay it or reach out us so you can be provided with the right support.

For more information about these measures click here.

Instant Asset Write Off Deadline

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A recent article written by Belinda Crowley, a tax principal at RSM Australia, has advised small businesses to act promptly in order to meet the deadline for the instant asset-write-off (IAW) scheme, otherwise, they may face significant bureaucratic hurdles once the stricter regulations are reinstated.

She stated that numerous small business and medium-sized enterprises (SMEs) would be caught off guard by the deadline and would be required to depreciate any asset worth over $1,000 after 30th June 2023.

This could be a significant time and financial burden, particularly for small businesses. Even if their accountants manage it on their behalf, it would still be an extra cost for them.

IAW has been a feature for small businesses since 2015. The government had introduced temporary full expensing as part of its support program for businesses of all sizes during the pandemic. These initiatives encourage business owners to invest in their enterprises. However, both schemes are now ending.

Accounting for occasional high-value assets of, say, $ 30,000, and doing the same for any asset valued over $1,000 (or $100 for larger businesses) created one of the most significant challenges. Crowley also suggested that SME’s that don’t require an asset write-off in the current financial year should save the depreciation for when it’s necessary.

Business owners must exercise caution and seek professional assistance before making a decision, if they are currently experiencing a challenging period and do not need the deduction to reduce their tax bill. It is also worth noting that supply chain disruptions mean that even if a business wants to buy an instant write-off asset, as the asset must be installed and ready for use before 30th June, 2023, or it will not be eligible to be claimed. Therefore, it is critical to be certain that the asset will be available and operational on the site before the 30th of June.

Although the government has announced initiatives such as the skills and training boost and technology investment boost, they are unlikely to have the same impact as the instant asset write-off.

SME’s should take advantage of the new 20% uplift deduction, which was highlighted a priority in the federal budget for areas such as environment, digitalization, and training. This deduction allows businesses to receive a $120 deduction for spending $100 on training or digitisation, with the incentive backdated to March 29, 2020. This benefit is very specific and only applicable to training conducted with registered training organizations, making it difficult for SME’s to access. Additionally, access to write-offs is limited to businesses with an aggregated turnover below $50 million, and the training boost expires on  June 30, 2024, while technology scheme only lasts until the end of this financial year. The uplift deduction would not be consistently beneficial across sectors, as some industries , such as agriculture, rely more on-the-job training than formal accredited courses.

If you need to discuss how you can utilize the IAW measures for your business please contact us. To read more detail about these measures please click here.

2022/23 October Federal Budget

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As announced by Treasurer Jim Chalmers, the 2022/23 Federal Budget has been updated as of October 25, 2022. The National Tax and Accountants’ Association (NTAA) provided an excellent summary of those updates and we have highlighted some of the key points:

Clarification for unlegislated taxation and superannuation measures

It has been announced that legacy tax and super measures that were mentioned, but not previously legislated by the Government will not be proceeded. This includes:

The Government proclaimed that certain legacy tax and super measures announced, but not legislated prior by the Government will no longer proceed. This includes:

  • The 2018/19 Budget
    • The annual audit requirement for certain self-manager superannuation funds (SMSFs) will change. Previously, the annual audit requirement for SMSFs with a history of compliance and good record-keeping changed to a three-yearly requirement.
    • Cash payments with a limit of $10,000 will be introduced to goods and services businesses. Initially, any payments made over this threshold were paid through an electronic payment system or via cheque.

Certain legacy tax and superannuation measures will be deferred to ensure policies are legislated ad implemented sufficiently. This includes:

  • The 2019/20 Mid-Year Economic and Fiscal Outlook (MYEFO)
    • The introduction of a sharing economy reporting regime for transactions regarding the supply of ride sourcing and short-term accommodation will be deferred to July 1, 2023.
  • The 2021/22 Federal Budget
    • The residency requirements for SMSFs will be relaxed as of July 1, 2022 through to the income year commencing either on or after the date of the Royal Assent of the enabling legislation.
    • This will be done by extending the ‘central control and management test’ safe harbour to five years and removing the ‘active member test’. This will enable SMSF members to make contributions to their superannuation fund, even when overseas temporarily.

Clarification that digital currencies are not taxed as foreign currency

A legislation will be introduced to further clarify that digital currencies such as Bitcoin, will continue to not be taxed as foreign currency. This includes the capital gains tax treatment where they are held as an investment. This measure will support the Government of El Salvador’s decision to adopt Bitcoin, which will be backdated to the year including July 1, 2021.

Any digital currencies issued under another authority or government official agency, will continue to be taxed as a foreign currency.

Superannuation – expanding the eligibility for downsizer contributions

The Government has reduced the downsizer contributions eligibility age from 60 to 55 years of age, which will be effective in the beginning of the first quarter after the Royal Assent of the enabling legislation.

This provides an opportunity for people to make a one-off post tax contribution to their superannuation of up to $300,000 per person from the proceeds of selling their home. Either member of the couple can make contributions and it will not be included towards non-concessional contribution caps.

Non-tax measures will also be announced to reduce the financial burdens on pensioners considering downsizing their homes. This will increase the housing availability for younger growing families.  This includes:

  • The assets test exemption will be extended for principal home sale proceeds to 24 months for income support recipients.
  • The income test will change to apply only the lower deeming rate of 0.25% to principal home sale proceeds (calculated 24 hours after the principal home sale)

Fringe Benefits Tax (FBT) – Electric Cars

Battery, plug-in hybrid electric and/or hydrogen fuelled cars will be exempted from import tariffs and fringe benefits tax as of July 1, 2022. This only applies to those who have a retail price below the luxury car tax threshold for fuel-efficient car. The car mustn’t have been held or used prior to July 1, 2022.

Employers must ensure to include the exempt electric car fringe benefits within an employee’s reportable fringe benefits amount.

COVID-19 Business Grants made non-assessable non-exempt

As a result of COVID-19 payments made prior to June 30, 2022, they can be made non-assessable non-exempt (NANE) for income tax purposes and those who are eligible. This tax treatment is only available for businesses who experienced severe economic consequences during the pandemic.

The Government has designed COVID-19 grant programs for the following to be eligible to receive the NANE treatment. This means eligible businesses will be exempt from paying tax for the following grants:

  • Victoria Business Costs Assistance Program Four – Construction
  • Victoria Licensed Hospitality Venue Fund 2021 – July Extension
  • Victoria Licensed Hospitality Venue Fund 2021 – Top Up Payments
  • Victoria Business Costs Assistance Program (Round Two Top Up, Round Three, Round Four, Round Five)
  • Victoria Impacted Public Events Support Program Round Two
  • Victoria Live Performance Support Program (Presenters) Round Two
  • Victoria Live Performance Support Program (Suppliers) Round Two
  • Victoria Commercial Landlord Hardship Fund 3
  • Australian Capital Territory HOMEFRONT 3
  • Australian Capital Territory Small Business Hardship Scheme

Boosting Paid Parental Leave

As of 1 July 2023, the Government will introduce an improved Paid Parental Leave Scheme making it flexible for either parent to claim the payment. Both birth and/or non-birth parents are eligible to receive this payment if they meet the criteria.

Parents will also be able to claim this payment at the same time they take leave.

The scheme will be expanded from 1 July 2024, by an additional two weeks a year until it reaches 26 weeks from 1 July 2026.

The leave entitlement can be shared amongst both parents, with a section titled on a ’use it or lost it’ basis. This is to encourage both parents to use the scheme and share the caring responsibilities amongst one another equally.  Single parents can access the full 26 weeks.

Extending ATO Compliance Program

  • Personal Income Taxation Compliance Program
    • From 1 July 2023, the Government will be extending its Personal Income Taxation Compliance Program for two years. By doing so, it will focus on delivering a more proactive, preventative, and corrective activities fundamental to areas of non-compliance.
  • Shadow Economy Program
    • The ATO Shadow Economy Program will extended for a further three years, starting July 1, 2023. This will strengthen the ATO’s response to target shadow economy activity, continue to protect revenue for businesses following complying to the rules.
  • Tax Avoidance Taskforce
    • The funding for the ATO Tax Avoidance Taskforce has been boosted by roughly $200 million per year for the past four years from 1 July 2022, whilst also extending this Taskforce for another year (1 July 2025). By doing so, the ATO will be supported to pursue new areas of priority for business tax risks, determining the focuses for multinational enterprises as well as large public and private businesses.

For information about these measures click here.

Rewarding Staff for Covid-19 Vaccine

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It is important to understand your tax and super obligations as an employer, if you have provided rewards to employees for getting the COVID-19 vaccine.  

 

Examples of incentives and rewards include: 

  • Cash payment  
  • Paid leave  
  • Transport to and from the vaccinations
  • Vouchers and gift cards  

 

If you have provided employees with cash payment, you must: 

  • Withhold tax from the payment amount under pay as you go withholding 
  • Include the payment in your employee’s salary/ wages 
  • Include the amount in your employee’s ordinary time earnings (This is to help determine super contributions by employer) 

 

If you have provided paid leave, it will be treated like any other if the leave is granted to:  

  • Get a vaccination 
  • Recover from side effects  

The payments received while on leave are treated as salary/ wages.  

 

Non-cash benefits (vouchers or gift cards) may be reportable fringe benefits. These benefits will need to be included in your tax return. These may be used for: 

  • Determining your eligibility for certain government benefits and concessions, such as certain family assistance payments and tax offsets 
  • Determining your liabilities, such as Medicare levy

 

For any further information visit the Australian Taxation Offices website here.  

You may also like some of our other blogs. 

Notice of Intention (NOI) Due Dates  

New Stapled Superannuation Fund  

How to improve wellbeing in the workplace 

 

Notice of Intention (NOI) Due Dates

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The AAT has ruled that a taxpayer was not eligible to claim tax deduction for personal superannuation contributions for 2018/19 as a result of his failure to submit an eligible notice of intent (NOI) claim within the required time limits, as required by section 290-170(1) of the ITAA 1997. 

This serves as an important reminder that individuals must provide a valid NOI to their relevant superannuation fund within the required times frames in order to prevent missing out on tax deduction.  

NOI Conditions  

Claiming a tax deduction on superannuation contributions is not as easy as you think. In order to be eligible to claim tax deductions, we have specified the important conditions which must be met. These include:  

  • The individual must be eligible to contribute to superannuation. For more information click here 
  • Eligible contributions must be received by the individual’s superannuation fund in the same financial year it is intended to be claimed.  
  • A valid ‘notice of intent’ (NOI) must be sent to trustee to claim form (Section 290-170 form) 
  • Any NOI must be received by the trustee in writing before the end of the financial year that follows the financial year in which the contribution was made.  
  • The trustee must formally acknowledge that the contributions are eligible to be claimed.  

What can make a NOI invalid? 

A notice which includes all or part of an amount that is covered by a previous notice will be considered invalid.  

It may also be considered invalid when the individual submits a notice that: 

  • The individual has split contribution with their spouse. 
  • The trustee no longer holds the contribution. 
  • They were not the member of the superannuation fund.  

How can you apply? 

There are three types of forms that can be used to apply for a valid NOI.  

An approved form is one of the following.  

  1. The Notice of intent to claim or vary a deduction for personal super contributions (NAT 71121-06.2012) paper form.  

You can download this form here.

  1. A ‘branded’ paper form provided by your superannuation fund, which specifies all the information contained in NAT 71121. 
  1. A letter stating that you wish to claim a tax deduction for your personal superannuation contributions containing the following information: 
  • First name 
  • Family name  
  • Date of birth 
  • Fund name  
  • Fund ember account number  
  • The financial year in which the contributions were made  
  • The amount covered by your notice  
  • The amount you intend to claim as a tax deduction 
  • A declaration that you are lodging the notice by the due date 
  • A statement that the information contained in your letter is true and correct
  • The date  

If you have any further questions don’t be afraid to contact us! Give us a call or book a consultation. 

You can also check out some of our other blogs: 

Director ID Implementation 

ATO Debts Worrying you? 

How small businesses can build better credibility online 

 

Filed Under: Tax

New Stapled Superannuation Fund Rules

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New stapled superannuation fund rules have been implemented from the 1st November 2020. Superannuation stapling is a new measure which was introduced to reform the superannuation system announced by the federal budget 2020/21. 

The imposed measures mean that an individual/ employees superannuation account is stapled to them when they change jobs.  This removes the need to create new superannuation accounts each time a person changes their employment.  

It is important to consider that the new rules require employers to use the “stapled super fund” details for new employees who do not choose a fund. These rules will only apply to new employees who commence after 1st November 2021.  

Typically, an employer must provide an employee with a superannuation standard choice form within 28 days of commencing work. Now, if a new employee does not choose a fund, the employer will be able to check if the employee has an existing stapled fund. As an employer you will be able to do this by logging into ATO online services an accessing the ’stapled superfund request service’.  

If the employee has a stapled fund, the employer will be required to contribute to that specific stapled fund. If an employer contributes funds into their default fund and not the employees stapled fund, they may be subject to the choice shortfall penalty.  

There is no need to request stapled super fund details from the ATO for any existing employees.  

Further information on employer obligations with regards to stapled super funds can be found here on the ATO’s website.  

For other important updates for small businesses, you can check out some of our other articles: 

 

ATO Debts Worrying You?

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Debts with the ATO can be daunting and something that many of us prefer not to think about.  We also know that no matter how hard we try to avoid thinking about these debts they never go away.   

Believe it or not, the ATO are extremely supportive of small to medium sized businesses.  They are such a crucial part of our community that assisting them is a priority.  If the debt has come about due to a genuine mistake or through cash flow difficulties or the like, the ATO can assist by setting up Payment Plans in order to help reduce and eliminate the debt.   

When entering a payment plan, the first requirement is that all returns and activity statements are lodged up to the current date.  The payment plan will cover the outstanding amount payable at the time the plan was initiated.  The repayment amount is suggested by you, the business owner, and should be a reasonable amount which fits within your business’s budget at the time.   

Going forward, you should note, the payment plan will not cover any future activity statements or returns.  The new statements or returns will be expected to be paid on or before the due date.   

Whilst the unfavourable cost of business, taxes, will never go away – it is reassuring to know that when we become a little stuck for cash flow, there are options to carry us through.  It is crucial to stay on top of our lodgements though – always keep your activity statements and tax returns lodged, up to date! 

What the 2020 Federal Budget means for you

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To kickstart the economy after Australia’s massive COVID-19 outbreak, the Federal Government has released a huge spending and tax cuts Budget for 2020. 

Here is our summary of the 2020 Federal Budget and what it means for you. 

  • This appears to be a great Budget for the young, anyone still working and business owners.  
  •  The massive Government spending, tax cuts and wages subsidies will lead to higher spending throughout the economy and ideally greater business investment.  
  • This pushes up confidence and job creation so hopefully more economic growth.  

There are a few key areas we would like to make you aware of. 

I, Business Owners 

Tax Loss “Carry Back” 

If your business is making losses now because of the COVID-19 recession, you can get a tax refund out of the taxes you have paid on profits going back to the 2019 year. And you can use the “carry back loss” trick for the 2021 and 2022 financial years. 

Specifically, a company can carry back losses from the 2020, 2021 and 2022 financial years to offset previously taxed profits in the 2019, 2020 and 2021 financial years. 

However, this only applies to companies. Sole traders, partnerships and trusts won’t be able to access this benefit. 

This tax refund will be available as a choice to be made when a company lodges its 2021 and 2022 Tax Returns. 

Immediate Asset Write Off 

The Government wants businesses to spend big. This measure allows businesses with a turnover of less than $5 billion to claim a full up-front tax deduction for the cost of new business assets. There is no cost cap with this measure – it is not limited like the previous $150,000 instant asset write off that is in place until 31 December 2020. 

This applies to the purchase of capital assets from 6 October 2020 and first used or installed by 30 June 2022. 

This means that if you buy a new truck for $250,000, then you get a 100% tax deduction in year one. 

*Important: Remember, this does NOT mean that you get $250,000 in tax back. You effectively save tax at your marginal tax rate. So, a company with a 27.5% tax rate will save $68,750 in tax if they buy a $250,000 truck. 

For businesses with a turnover under $50 million, this also applies to secondhand assets. 

Small Business Pooling – Immediate Write Off 

Small business entities that have a turnover of less than $10 million using the simplified depreciation rules can claim as an expense the balance of their simplified depreciation pool at the end of the 2021 year. 

This is great because it gives business owners a tax deduction for the full amount of non-depreciated assets they have purchased in prior years. 

JobMaker Hiring Credit 

The JobMaker hiring credit will be available to eligible employers over 12 months from 7 October 2020 for each additional new job they create for an eligible employee. 

Employers will receive $200 a week for hiring someone aged 16 to 29 and $100 a week for taking on someone aged 30 to 35. 

The JobMaker hiring credit will be paid quarterly in arrears and will be available for 12 months from the date of employment with a maximum amount of $10,400 per additional new position created. 

To be eligible, the employee will need to have worked for a minimum of 20 hours per week averaged over a quarter, and have received the JobSeeker Payment, Youth Allowance or Parenting Payment for at least one month out of the three months prior to when they are employed. 

Employers will need to prove that the new employee will increase overall employee headcount and payroll. 

Boosting Apprenticeship Commencements 

A business that takes on a new or recommencing Australian apprentice will be eligible for a 50% wage subsidy. The subsidy is paid in arrears and is available for wages paid from 5 October 2020 to 30 September 2020, up to a maximum amount of $7,000 per quarter. 

FBT Changes

A few FBT changes have been announced, including removal of FBT on car parking and portable electronic devices from 1 April 2021, and on retraining and reskilling costs for employees from 2 October 2020. 

R&D Tax Incentive Changes 

The Government has backflipped on previously proposed cuts to research and development tax incentives.  

For small companies (turnover less than $20 million) the refundable R&D tax offset will be set at 18.5% above the company tax rate and there won’t be any cap on annual cash refunds. 

The R&D laws are quite complex, so please feel free to contact us for further information if R&D is something that your business would like to claim. 

II, Individuals 

Personal Tax Cuts 

To kick start the economy, the Government is introducing tax cuts totaling $50 billion backdated to 1 July 2020. 

There are 2 key parts to it. An offset which will get paid in a lump sum after July next year when you lodge your 2021 Tax Return, and an immediate reduction in the tax taken from your wages as soon as this legislation passes Parliament. 

In both cases there is nothing you need to do and no extra forms to fill out at tax time – the adjustments will happen automatically. 

Here’s what tax cuts you’ll get: 

The average teacher’s wage is around $90,000, so a couple who both teach can expect a tax cut of up to $3,060. That’s massive! The big question is if people will spend these tax cuts or reduce their home mortgages and save them. 

$250 Economic Support Payments 

A payment of $250 in December 2020 and another payment of $250 in March 2021 will be made to individuals receiving Age or other pensions and health care card holders. These payments will be exempt from tax and will not count as income support for any income support payments. 

Superannuation – “Stapling” of Accounts 

This is something that really makes sense. Under this measure, an individual’s super account will be “stapled” to them as they change jobs. New super accounts will no longer be automatically created every time someone starts a new job. 

Capital Gains Tax removed from “Granny Flats” 

Currently, there is a risk of capital gains tax (CGT) applying if you sell your family home and if you have entered a formal granny flat arrangement with an elderly parent or relative. The Budget has now included a measure where CGT will not apply to this. 

NEXT STEPS: If you have any questions about how the 2020 Federal Budget affects you – please contact us and one of our expert accountants will help you!

Xero Document Packs are here for easy, quick and secure e-signing

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Xero Document Packs is an electronic signing application using Adobe Sign for all documents that need to be signed. With this great tool, you can sign documents online without the hassle of printing, signing, and sending. Our team at RA Business Advisors uses Xero Document Packs and we think that it is super easy and quick to use this tool. Read on to know more! 

We combine tax returns from Xero Tax, reports from our clients’ Xero organization, and PDFs that we upload. Then we add any extra signature lines, upload the document pack to a secure online portal and invite clients to log in and sign using Xero Sign powered by Adobe Sign. 

Why is it useful? 

1, Improve efficiency 

You can just log in and sign with Xero Sign powered by Adobe Sign. No need to print, sign, send and file documents.  

2, Safe and secure 

Documents that need to be signed are stored in a secure Xero portal. Adobe Sign securely stores the signed tax return and the e-sign audit trail. You can also access a copy from Xero Tax anytime. Did we mention that Adobe Sign is the best-in-class provider, with over 40 million users of e-sign services? 

3, Track who’s signing 

All signing events are tracked and IP addresses are recorded in a detailed audit log. Xero also verifies who’s signing with their email ID. 

4, Nothing new to install 

E-sign works seamlessly within Xero Tax, so there’s nothing to install and our clients can access it from anywhere. 

Sounds good, so how do I sign and authorise a document? 

A, To authorise an e-signature request you’ve been sent: 

1, Click Review Documents from the email.

2, Log into the Xero Portal: 

  • If you’re an existing Xero user, trialist, or have used the Xero Portal before, log in using your existing email address and password. 
  • If you’re not a Xero user, you’ll need to enter a password and your phone number, indicate you accept the terms of use and click Activate your account.

3, Click Review to open each document you’ve been asked to sign. If you have more than one document to sign, you’ll see a list. 

4, After you have confirmed all document details are correct, click Start. 

5, Click in the Click here to sign field to open the declaration options. You can type or draw your signature, or use an image or your mobile to sign. Click Apply to confirm the signature. The date field will pre-populate with today’s date. 

6, If your signature is required in multiple locations, click Next to jump to the next declaration. 

7, When all declarations have been completed, click Click to Sign to complete the e-sign process. 

Or check out this page for a step-by-step video. 

B, To view the audit report of the e-signed document: 

You can download your signed document at any time from the Xero Portal, using the link in the request email. This will show you the audit trail of the signed document. The report is a full audit history including the IP address of the signer, dates and times of each action. 

1, Log in to the Xero Portal using the link from the request email or by logging in to https://portal.xero.com/

2, Click Download for the signed document you want to view. 

3, Open the PDF and go to the declaration or to where your signature is. 

4, Click on the link under your signature, to open the audit report for that return. 

5, Click View Audit Report. You can also type in the transaction number for another report. 

C, Decline a request to e-sign a tax return 

1, Click Review Documents from the email. 

2, Log into the Xero Portal: 

  • If you’re an existing Xero user, trialist or have used the Xero Portal before, log in using your existing email address and password. 
  • If you’re not a Xero user, you’ll need to enter a password and your phone number, indicate you accept the terms of use, and click Activate your account. 

3, Click Review to open each document you’ve been asked to sign. If you have more than one document to sign, you’ll see a list. 

4, From the return, click Options, then select I will not e-sign. 

5, Enter the reason for declining. 

6, Click Decline. 

A decline notice will be sent to your advisor. 

How secure is it? 

Adobe Sign e-sign services comply with industry-accepted standards and certifications. Adobe Sign stores all customer data in geographically dispersed data centers with state-of-the-art environmental and data security measures. Read more about Adobe Sign security.

 

NEXT STEPS:    

If you need help, don’t hesitate to contact us! Give us a call or book a consultation on 07 3367 0852. 

You can also check out some of our latest articles:       

Taxi travel exemption now includes travel in ride-sourcing vehicles 

Tax myths to avoid during this current Tax Time   

Withdrawing super early and recontributing your super can result in consequences    

Tips to advertise your small business for free