Tax Returns

The ATO has a very helpful link to help you determine if you need to lodge your tax return.
Click here to learn more.

We like to personalise our service to ensure each person is claiming what they are entitled to, however there are quite a few generic claims which cover most industries and can be found on our individual, business & rental checklists on our resources page.

Please bring along any documentation that would be relevant to your tax return such as:

• Interest earned on any bank accounts in your name
• Receipts for any work related items you wish to claim
• Log book for motor vehicle travel (if required)
• Donations to charities
• Payment Summaries from your employer and other agencies should now be sent straight to the ATO via Single Touch Payroll and may not be sent to you, however there are a few such as Centrelink, Super Lump Sum Withdrawals, Eligible Termination Payments that may be manually sent so please bring these along to your appointment.
• Share dividend statements including those reinvesting
• Annual tax statements from trusts, managed funds, etc
• Employee Share Scheme documents
• Income Protection Insurance Statement
• Confirmation of Tax Deduction Notice from superannuation fund for any personal super contributions
• Anything else you think may be relevant

We have prepared a checklist to assist individuals preparing for their tax return. Click here to download.

Please bring along any documentation that would be relevant to your tax return such as:

• Agent summary from real estate management
• Council rates
• Water rates
• Insurances
• Interest paid on investment loans
• Any loan setup fees
• Any other expenses not listed above/on the agent summary
• Invoices for any large repairs & maintenance costs or asset purchases
• Anything else you think may be relevant

We have prepared a checklist to assist our clients when preparing for their tax return with a rental property. Click here to download.

Please bring along any documentation that would be relevant to your tax return such as:

• Business income and expense summary
• Profit & Loss and Balance Sheet reports from software (if applicable)
• Invoices for any large asset purchases such as motor vehicles, machinery, etc
• Log book for motor vehicle travel (if required)
• Copy of business bank statement as at 30th June
• Any money made on eBay or other websites (if not included in the above summary)
• Copy of STP Finalisation if you have employees
• Anything else you think may be relevant

We have prepared a checklist to assist our clients who run a business when preparing for their tax return. Click here to download.

You can see your HECS/HELP being deducted from your payslip each pay period but when you check your Mygov account your debt isn’t reducing. Don’t worry, this is correct! Your balance will not reduce until you have lodged your end of year tax return and the ATO calculates the exact compulsory repayment amount towards your debt based on your income.

We often get asked “Why am I paying Medicare Levy when I have private health insurance?”

The Medicare Levy is paid by majority of taxpayers and is not affected by your private health insurance. This calculates to be 2% of your taxable income which is a compulsory payment.

The Medicare Levy Surcharge is an additional surcharge (varying from 1%-1.5% of taxable income) for taxable income over $93,000 (for singles) or $186,000 (for couples/families). This surcharge is offset by private hospital cover when yourself and all your dependants (including spouse) are covered by private hospital cover for the full financial year.

If private hospital cover is commences midway through a financial year, you will be entitled to a pro-rata offset. Please note: • Private hospital cover is required for the hospital component. General cover, commonly known as ‘extras’, is not private patient hospital cover. Extras only covers items such as optical, dental, physiotherapy or chiropractic treatment. Your individual circumstances may vary, it is also best to speak to your registered tax agent for any queries regarding your personal situation.