Personal Tax Return Procedure

Our System

In order for us to prepare your tax return, we simply require you to submit your details to us via our online form. If you are unsure of the answer to a particular question, you can leave it blank or even make us a note in that space. No fields are compulsory or limited in text.

Once we receive your online submission, we are able to add you as our client with the ATO. Once this is done, we can then access most of your income information including payroll information lodged by employers, interest income, and (in most cases) information on dividend and similar income. Generally, we would also be able to obtain your private health insurance information.

In conjunction with the information provided by to us the ATO, along with the information that you fill out on our form, we are able to draft up your tax return.

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]

Do the GST laws apply to me?

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.

Own a rental property or 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 after I submit my information to Freshwater Taxation?

Once you have submitted your details to us for personal tax return preparation via our online form, you will receive a confirmation that we have received your submission. Within 24 hours of your submission with us, you will also receive a copy of your tax invoice and an estimate of when you can expect to receive your tax return prepared by a member of our team for your review. Generally speaking, you will not wait more than 3-4 days for your tax return. If we feel that there is important information that you need to know regarding your personal tax return, we will always email you to let you know. Once you are happy with the return, you can then digitally sign your approved tax return for lodgement. We would at this point lodge the return with the ATO and confirm with you once lodged. If we have any queries during this process, we give you a call to discuss or email through a list of questions. If you disagree with the tax return that we have prepared for you, please email or phone us with your queries and concerns / requested changes.

Do I need to provide you with copies of my 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.

We maximise 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.

Not sure what you can claim or how to gather your tax information?

Our online tax return submission aims to cover all possible areas of deductions available. We suggest that you list all claims for which you have receipts / evidence in your submission to us. 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.

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.