It's Tax Time!
Posted by Darren July 5, 2016
With all the focus on the federal election over recent weeks, the 30th June has crept up on us and with it the end of another financial year! Once again we are entering the tax season with your tax obligations needing to be assessed and lodged with the Australian Tax Office.
These days there are a number of options to self serve your individual tax returns however if you want to be able to get the best out of your tax return, we always recommend you speak to one of our senior accountants. Sitting down with one of our experienced professionals will provide you with additional service and perspective that will allow you to maximise your return.
The main questions we receive each year – what paperwork do I need to bring, and how much will I get back?
How much you get back will be determined on the information that is available when you have your appointment with our accountant. When it comes to claims, it’s important you keep a copy of your receipts during the year. That way you can get the most out of your claims and it helps if you are unsure, so it’s best to bring them along anyway. One thing to remember when you are getting your information together is to remember your income details – specifically:
- Group Certificates
- Bank interest
- Share dividends
- Details of your rental property (purchase & sale dates, capital gains, expenses)
This is where a majority of people earn their money during the year, so once you bring it in, we will go through it all and make sense of it for you.
If you are looking for that tax deduction or need some help moving forward with some future tax advice, then our staff are trained so that we can have discussions around your future financial stability and help you put plans in place with the help of our network of financial partners.
If you are ever in doubt or unsure of what is required for your tax return, please contact our office on (02) 4655 9247 and one of our experienced accountants can discuss with you over the phone. We are here to make it as easy as possible for you.
The above information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs. Wards Accounting Group Pty Ltd (ACN 105 280 831) ABN 32 105 280 831 is a Corporate Authorised Representative of Merit Wealth Pty Ltd ABN 89 125 557 002, Australian Financial Services Licence Number 409361