Australians too afraid to get a bigger refund at tax time

June 26, 2011 - PRLog -- AUSTRALIANS TOO AFRAID TO GET A BIGGER RETURN AT TAX TIME

Mobile and web based tax tool – XPNSIT – helps Aussies get an extra $1600 back!

Aussies are actually too afraid to get a bigger return even if they’re entitled to it- According to the founders of Xpnsit, an innovative, new online application which enables individuals to maximize their tax return.

A survey of 818 taxpayers* found that 42 per cent expect to receive a refund of less than $1000. That’s a whopping $1600 less than what the average person is entitled to claim back according to an Australian Taxation Office estimated figure of $2628^.  With over 11.4 million personal income tax payers in Australia, this is a lot of lost dollars going straight into the tax department’s coffers.

“It’s your own money, so you may as well claim it back from the Tax Department. We are taxed more than what we need to pay and then it’s up to each person to claim back whatever they can get their hands on.

“We’re not talking about clearing out your drawer of receipts for every possible dollar you can scrape back. What we suggest is a shift in focus on uncovering what you’re actually entitled to. It’s your money, get it back!”, said Xpnsit founder, Jim Gurieff.  

How does Xpnsit work? Harnessing sophisticated technology, combined with detailed tax information specific to each industry and job, Xpnsit is an online system for storing, tracking and monitoring expense and work related activities. But it’s much more than just a receipt logger.

Xpnsit’s unique feature is its logbook and diary functions which – for the first time – enable users to track and store work related and regular patterns of activity that the ATO needs in order for a return to be lodged. In the past, individuals would have missed out on claiming these expenses thanks to the difficulty and effort required to monitor and store this data. Once the relevant information has been entered, users can track – in real time using the ‘Tax-back-odometer’– the estimated value of their tax return for any given period.

Most Australians fail to get the biggest potential tax return through lack of information. However Xpnsit takes the guesswork out of an otherwise complicated process making it even easier to get the best return possible.

Thanks to Xpnsit’s extensive tax database, users can access highly tailored expense deduction tips and guidance to help them to identify unique opportunities to claim back tax.

Xpnsit comes with ‘5 x 90’ guarantee; get 5 times the Xpnsit fee as extra tax back or Xpnsit will give users their money back as a full refund after 90 days.

Regardless of whether you’re a brick layer or a banker, a lawyer or a laundress, Xpnsit is perfect for you.

“We’re challenging Aussies to get over the feared tax ‘bogeyman’,” said Jim. “At the end of the day, it’s your money; you deserve to get it back.”

ENDS
Notes to editors:
Xpnsit costs as little as $9.45 per month on a recurring subscription or $170 upfront “value” deal including a free Xpnsit “Stuff and Forget” envelope. This allows users to claim two tax years if they fall behind while locking in the price.

For more information, interview opportunities, high res images, or for a complimentary Xpnsit trial, contact Jothy Hughes, on 0423 491 808 / jothy@nowcommuications.net. For more information on Xpnsit, visit www.xpnsit.com.au

* BankWest ‘Taxing Time’ Survey June 2010
^ Australian Taxation Office, “Taxation statistics 2007-08 - Summary of Australian tax statistics” March 24, 2010.

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N O W! Communications specialises in getting clients coverage N O W! and getting celebrity's endorsements N O W!

Jothy Hughes, of N O W! has worked on brands in all industries and with celebrities such as Shane Warne and Sugar Ray Leonard.