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Our tax preparation services would generally include a comprehensive set of steps to ensure your tax return is accurate, compliant with Australian Taxation Office (ATO) regulations, and maximises any eligible refunds or minimises your tax payable.

Our goal is to make the tax process as straightforward and stress-free as possible for you, ensuring compliance and optimising your tax outcome

01.

 Individual Tax Preparation 

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Comprehensive Information Gathering & Pre-filling:

  • Personalised Checklist: We provide a clear checklist of all necessary documents you'll need to gather (e.g., income statements, investment summaries, receipts for expenses).

  • Pre-fill Data Review: We leverage the ATO's pre-fill data, which typically includes:

    • Income Statements (formerly PAYG Summaries) from employers

    • Bank interest

    • Share dividends

    • Centrelink payments

    • Private health insurance details

We review this against your provided information to ensure accuracy and completeness.

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Expert Identification of Income & Deductions:

  • All Income Sources: We'll help you identify and correctly report all assessable income, including:

    • Salary and wages

    • Bank interest and dividends

    • Rental income (if applicable)

    • Capital gains/losses from asset sales (shares, property, crypto)

    • Sole trader or business income (if applicable)

    • Government payments (e.g., JobSeeker, parenting payments, pensions)

    • Foreign income

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Maximising Allowable Deductions: This is where our expertise helps you save. We'll identify and correctly claim all eligible deductions, such as:

  • Work-related expenses: Car and travel expenses (using logbook or cents per km), uniforms and laundry, self-education, tools and equipment, home office expenses (if you work from home), union fees, professional subscriptions.

  • Cost of managing tax affairs: This includes our fee for preparing your previous year's tax return.

  • Donations: Gifts or contributions of $2 or more to eligible charities.

  • Interest on investment loans: For income-producing investments.

  • Income protection insurance premiums.

  • Rental property expenses: If you own a rental property, we'll guide you on claiming interest, repairs, agent fees, rates, insurance, and depreciation.

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Application of Offsets and Liabilities:

  • Tax Offsets: We ensure you receive all applicable tax offsets to reduce your tax payable, such as the Low Income Tax Offset (LITO) or the Private Health Insurance Rebate.

  • Medicare Levy & Surcharge: We calculate your Medicare Levy and determine if the Medicare Levy Surcharge applies to you based on your income and private health insurance status.

  • HELP/HECS Loan Repayments: If you have a study or training loan, we'll calculate any compulsory repayments based on your income.

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Tax Return Preparation & Lodgement:

  • Accurate Calculation: We use professional, ATO-compliant tax software to accurately calculate your total income, deductions, offsets, and ultimately, your tax refund or tax payable.

  • Review and Approval: We provide you with a draft of your tax return for your review and approval before lodgement, explaining key figures and answering any questions you have.

  • Electronic Lodgement: As registered tax agents, we electronically lodge your tax return with the ATO on your behalf. This generally leads to faster processing and receipt of any refund.

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Post-Lodgement Support & Advice:

  • Copy of Return: You'll receive a final copy of your lodged tax return for your records.

  • Notice of Assessment (NOA) Explanation: We'll help you understand your ATO Notice of Assessment when it's issued.

  • Record-Keeping Guidance: We provide advice on effective record-keeping for the next financial year to make future tax preparations easier and to support any claims.

  • ATO Communication: As your registered tax agent, we can communicate with the ATO on your behalf regarding your return.

  • Extended Lodgement Deadline: By engaging us before the standard 31 October deadline, we can typically provide an extension for lodging your tax return.

  • General Tax Planning Discussions: We can offer high-level insights and advice on how to optimise your tax position for future years, based on your individual circumstances.​

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What we'll need from you (for the 2024-2025 financial year)

  • Your Tax File Number (TFN).

  • Your bank account details (BSB and account number) for your refund.

  • All relevant income statements and summaries (e.g., from employers, Centrelink, banks, managed funds).

  • Details and receipts for any work-related expenses you want to claim.

  • Records of any other income (e.g., rental statements, capital gains details).

  • Details of any private health insurance held.

  • Details of any charitable donations made.

 

02.

Tax Preparation Services for Businesses (Sole Traders, Partnerships, Trusts, and Companies)

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Business Income Tax Return Preparation:

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  •  Preparing and lodging the relevant annual income tax return based on your business structure:

    • Sole Traders: Integration of business income and expenses into the individual tax return.

    • Partnerships: Preparation of the partnership tax return, reporting the partnership's net income, with individual partners reporting their share in their own returns.

    • Trusts: Preparation of the trust income tax return, reporting the trust's net income and beneficiary distributions.

    • Companies: Preparation of the company income tax return, reporting the company's taxable income, tax offsets, and credits

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Business Activity Statement (BAS) Preparation & Lodgment:

Preparing and lodging regular BAS statements, which account for:

    • Goods and Services Tax (GST) collected and paid

    • Pay As You Go (PAYG) withholding from employee wages

    • PAYG instalments for income tax

    • Fringe Benefits Tax (FBT) instalments (if applicable)

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Maximizing Business Deductions & Concessions: Identifying and claiming all allowable business expenses and ensuring your business takes advantage of relevant tax concessions, such as:

  • General business expenses (e.g., rent, utilities, marketing, insurance, repairs)

  • Motor vehicle expenses

  • Home-based business expenses

  • Depreciation on business assets (including instant asset write-off where applicable)

  • Employee salaries, wages, and superannuation contributions

  • Research and Development (R&D) tax incentives

  • Small business Capital Gains Tax (CGT) concessions

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Fringe Benefits Tax (FBT) Returns: Preparing and lodging FBT returns if your business provides non-cash benefits to employees.

 

Payroll Tax (State-based): Assisting with payroll tax calculations and compliance for relevant states/territories, where applicable.

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Tax Planning & Strategy: While tax preparation focuses on current year compliance, our services inherently include an element of planning. We review your financial situation to identify opportunities for tax minimisation in the current and future periods, advising on strategies like:

  • Optimising business structure for tax efficiency

  • Timing of income and expenses

  • Effective use of superannuation contributions

  • Capital gains tax planning

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Record Keeping Advice: Providing guidance on maintaining accurate and compliant financial records to support tax claims and meet ATO requirements.

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ATO Compliance and Audits: Representing and assisting clients during ATO audits, reviews, or investigations, providing necessary documentation and explanations.

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