Personal Tax Return Procedure

System

In order to prepare your personal tax return, we first require some information from you. This information includes: your name and relevant contact details, information on your income and deductions; as well as your signed authority approving us to assist on your income tax affairs. We like to capture as much information as possible from you at the outset in order that we have the full picture of your situation to secure you an optimal tax outcome.

We now offer two means through which you can submit this information through to us:

  1. Sign up for a free secure individual tax account via our website. From here you can quickly and easily send your tax return requests through to our team. From your user account you can also download handy tax resources and view prior year tax submissions.
  2. Download, complete and email through our simple to use editable PDF form available on the personal tax and sole trader pages of our site. Not a fan of filling out forms? There is absolutely no need to repeat your basic information / information that you know we will already have on file.

Sole Traders / Contractors

You will be prompted for a list of your business income and expenses. If you have an online bookkeeping file please select the “Invite Accountant” Option. You might simply prefer to list your income and expenses to us in your online form submission.

Xero file accountant invitations: [email protected]
MYOB / QuickBooks /Wave: [email protected]

GST

When we prepare your personal tax return, we review your situation in depth. We will therefore advise if we think you need to be registered and why. If a registration is required, we will work with you to select the correct date of registration and ensure that your situation is completely sorted.

Rental Properties / Air B&B

If you own a rental property, our form will prompt you for a summary of total rental income and all associated expenses including council rates, water rates, property agent fees, strata, repairs & maintenance, depreciation (if you had a depreciation report prepared), sundry, electricity, travel to see rental property, mortgage interest etc. If you use a property agent, they will be able to provide you with a summary that summarises most of these costs (generally electricity, council rates and mortgage interest are not included in agent statements).

If you own an air b & b (including if you rented out a part of your home using air b & b) a rental schedule will need to be included within your personal tax return. Aside from the total income you received from people staying in your property, we will also need you to gather together a summary of all your property expenses for the financial year. These will include rates, strata, electricity and mortgage interest. We will also require the amount of time that your property was rented out within the financial year in order that we can apportion your expenses accordingly.

What happens next?

Once you have submitted your details through to us for personal tax return preparation, you will receive a confirmation from our team. Generally speaking, you will not wait more than 3-4 days for your tax return. We will keep you fully posted throughout this time frame. If we feel that there is important information that you need to know regarding your return, we will always get in touch with you to discuss further. Similarly, if we have any queries we give you a call to discuss or email through a list of questions. Once you are happy with the return, you can then digitally (or manually) sign your approved tax return for lodgement. We then lodge your tax return with the ATO and confirm with you once this is done.  If you disagree with the tax return that we have prepared for you, please email or phone us with your queries and concerns or requested changes.

Receipts

Unless requested by a member of our team, generally speaking we do not need to physically cite invoices / receipts. Please ensure that you have these on hand in the event of an ATO audit. You are welcome to scan and attach anything to us that you would like us to view and save for you.

Maximising your outcome

As we draft up your tax return, we will advise you if we feel there is a particular deduction that we think you are entitled to, that has not been included within your submission to us. We pride ourselves on going out of our way to not only maximise your tax return outcome, but to ensure that you have a thorough understanding of your income tax return and your tax result.

Gathering your information

We are here to help you in absolutely every way possible. We want you to feel comfortable that you understand all aspects of your tax situation. Our tax return requests have been designed with the aim to get you thinking about all possible tax deductions that you could claim. We suggest that you list all tax deductions for which you have receipts / evidence in your submission. We will be sure to review the totals that you send us and advise both if we feel you can claim more or if we feel you are claiming a deduction which might not be allowable. If you need help collating your tax information, don’t hesitate to get in touch with our friendly team.

Many thanks for taking the time to review the way that we do things.
Should you have any queries, don’t hesitate to get in touch with our team.
If you haven’t already, be sure to review our schedule of fees.