Commission Rebates

If you are already receiving commission rebates or are considering registering, then you are probably also wondering about what happens at tax time about all this extra money which is being credited to you. At Commission Rebates we are not tax advisors and you will need to speak with your personal or business accountant or financial advisor to find out how your particular situation is affected, however, when you do talk to your accountant or advisor you will need all of the information in one place, in an easy to read format and that is why Commission Rebates compiles reports for your accounting needs.

Accessing Your Account Information

Commission Rebates is dedicated to transparency in our refunds, fees and payments and that is why we make sure it is always easy for you to access the information you want and need about your refund account and the trailing commissions or rebates you have received or are registered for. We do this by:

• Ensuring an informative and accessible members’ section on our website. This is where you can login to your account with the username and password you choose when you register with Commission Rebates. Being able to log into your account online means you have access to the information about your refund account 24 hours a day, seven days a week so you can view past payments made to your refund account or nominated bank account and the total commissions we have collected on your behalf.
• Monthly electronic account statements. At the end of each month we will compile a statement detailing all of your account activity to date. These statements include a summary and overview of your account, as well as detailed information including graphs of your refunds, categorised by each fund or policy you are receiving refunds from, which company those refunds are being paid from, and the type of commissions you are receiving. 
• You can call Commission Rebates during business hours. If you have a question which isn’t answered in your account summary or activity report, then you can call Commission Rebates directly, and speak to one of our informed and friendly Australian-based refund representatives about your account.

Reporting Your Commission Rebates

No one likes doing their tax, least of all because you have to dig through a year of paperwork to explain each transaction, purchase and donation. However, when it comes time to visit your accountant, we make sure you have all the information you need to accurately report your commission refunds and pay the least tax possible because you have provided the most accurate information. Reporting your commission rebates in your accounting, you can reference:

• Your welcome pack. You will receive a welcome pack from Commission Rebates when your account is opened and you register to receive refunds of trailing commissions. Your welcome pack includes your account name, number and access details, and is confirmation that your account has been opened and is active in your name, for your personal financial products. 
• Financial advisor transfer forms. Commission Rebates is able to collect and refund the trailing commissions from your financial products because when you register, you nominate us as your broker. Therefore, when your account is opened and for each new investment or financial product you register with us, you will receive a copy of the transfer forms nominating us as your advisor, and allowing us to begin collecting trailing commissions on your behalf. 
• Monthly account statements. You will receive account statements each month so you need to make sure you have a reliable filing system for these reports. Detailed in your monthly account statements is information about the refunds which have been paid to you in the past month, according to each registered policy or investment fund.

Registering to receive commission rebates is a simple process and managing your refunds is just as easy. At Commission Rebates we want to make sure you have all the information about your refund account, when you need it, so that you really can enjoy the refunds of your trailing commissions without dreading looming paperwork or reporting obligations.