Tax Returns for Individuals
You can lodge your income tax return yourself but it must be submitted by 31 October for the year ended 30 June. If you are using a registered tax agent you will have until 15 May of the following year to lodge, as long as you are a client of theirs before the end of October in the year you are submitting your tax return.
Many individuals who use the services of a tax agent do so because there are guidelines that must be adhered to when claiming deductions. Rental income from property, employee share schemes, trust and partnership distributions, income as a sole trader, foreign income, work expenses and claiming superannuation contributions are just some instances when an individual is facing quite complex rules and regulations.
We have helped many people meet their tax obligations and can help you to ensure that you are not paying more tax than necessary.
Tax Compliance for Businesses
Some of the taxation services that we provide for businesses include lodging business activity statements, PAYG instalments and payment summaries at year end. We also lodge quarterly superannuation contributions on your behalf for your employees and owners. Other taxes that may be due are Goods and Services Tax (GST), Fringe Benefits Tax (FBT) and Capital Gains Tax (CGT). We can assist you understand when GST will be payable on a business being sold as a going concern and whether there are any small business offsets available.
We use Standard Business Reporting (SBR) enabled software for our compliance where possible as required by the Australian Taxation Office (ATO).
Late Tax Returns
If you have outstanding tax returns we can assist you to get up to date with the your reporting obligations and will liaise with the ATO on your behalf to let them know that the work is underway. If you need prior period adjustments made we can assist.
Deceased Estates
Deceased estates require a final tax return to be submitted. In matters of inheritance the beneficiary may need tax advice as to how to report their inheritance which can be complicated as there are many matters to be considered.