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Individual Tax Returns

As an Accountant in Cranbourne, we ensure that our clients pay the least amount of tax possible. This can be done by planning in advance and ensuring that you are following all the right steps.

Ensure that you are claiming all the work related deductions relevant to your occupation. You might be able to claim deductions for home office expenses, work-related travel, tools & equipment, union and professional memberships.

However avoid the risk of an audit by the ATO by cautiously taking into consideration the way you claim your use of electronic devices such as mobile phones, computers, tablets etc this tax season and only claim the proportion related to the work use. The tax office is on a mission this year as there is a huge increase in the individuals claiming deductions for the use of their electronic devices for work purpose including phones, computer, internet etc

If possible, prepay your expenses before 30th June, if you own a rental property, if there is any work that needs to be done, get it done before 30th June.

Also if you are up for a tax bill, you can lodge your tax return at the last minute. The deadline is 31st October however if you use a tax agent you can delay it till the following year. On the contrary if you are expecting a refund, then lodge your tax return as soon as possible to get the cash.

Engage a tax accountant Cranbourne to ensure you get advice and claim all the deductions available to you. Accountants have softwares to check the deductions available to your industry which you might be missing out on.

As a Berwick Tax Agent, we at Booksmart Accountants Cranbourne are specialists in overdue tax returns irrespective of the number of years it is overdue. We will help you maintain your income tax returns up-to-date as the ATO can issue Penalties and fees for overdue lodgements.

It is going to be our obligation to complete your return effectively without any mistakes. Most frequent error individuals make is they don't understand how to put together their own information and therefore spend substantial length of time attempting to put together the information. We will help you with the speedy approaches to put together your information effectively therefore helping you save money and time.

We will provide you with future recommendations to make sure you keep up-to-date in the future and with you becoming our client, we will always be waiving a red flag if you are late with your lodgements with our reminders.

Overdue Tax Returns is not kind of issue that will go away nevertheless the great thing is that we can assist you straighten out this issue. All you need to do is grab your telephone and give us a call on 1300 300 106 right now to book a meeting to pass on your tax worries to us.

Call Tax Accountants Cranbourne at 1300 300 106 for further information.

If you have private health cover then you may be eligible for private health insurance rebate. The rebate is calculated on the amount of premium.

From 1st April 2014, adjusted rebate percentages will apply to premiums paid on or after 1st April.

If you don’t have private patient hospital cover then you may have to pay Medicare levy and surcharge.

Rebate amount will depend on your single or family income. You can claim the rebate as either a premium reduction or a refundable tax offset.

In July each year, you should receive an annual private health statement with details of your policy and premium paid. You will need this statement to claim any rebate.

We are Lyndhurst Accountants and provides taxation, accounting, compliance and auditing services in Cranbourne, Lyndhurst, Lynbrook, Berwick, Carrum Downs and neighboring suburbs.

Call Tax Accountants Lynbrook at 1300 300 106 for further information.

As an accountant and a tax agent in Lyndhurst we are aware that along with the typical work related expenditures for example travelling, motor vehicle, telephone, uniforms, laundry, equipment etc; taxpayer’s across different occupations can claim several other tax deductions which are unique to their industry which may not be a suitable income tax deduction in other industries.

These costs are quite specific to different industries and will not apply evenly throughout the other industries.

Flight attendants can claim expenditures incurred for travel luggage for work use including travel bags, travel suitcases, over night bags, suit packs etc.

Other tax deduction permitted for flight attendants, which isn't often a tax deduction, is for rehydrating moisturisers and rehydrating hair conditioners. Flight attendants can deal with harsh working conditions because of drying effects brought on by cabin pressure and all these items would be utilized to combats the effects.

Likewise people carrying out entire or a part of their job outdoors for example individuals in construction & building industry, landscapers, sporting coaches, etc can claim a tax deduction for protection from the sun including sun blocks, sunhats, shades etc.

Adult industry personnel is eligible to claim a tax deduction for stage make up, dancing classes should they be required to increase their dance skills, apparel they use particularly for income generating including lingerie and various other consumables.

Each and every industry personnel have unique expenses they may bear associated with their profession whether it's a sole trader as well as employee and most often they don't have knowledge of the particular kind of expense they are able to claim as a tax deduction.

Unsure of precisely what is considered tax deductible expenditure within your industry? You may be forking over much more income tax than what you need to be. Contact us today on 1300 300 106 for Tax Agent Lyndhurst services to find out what you can claim.

At this tax time, it is important to know what tax deductions can be claimed on a rental property. Some deductions you can claim straight away where as other over a period of time.

Some expenses can be claimed immediately such as interest on mortgage, real estate expenses, capital works deductions, repairs & maintenance. Other interest expense can also be claimed on loan to purchase a depreciating asset such as heating or air conditioner.
Cost incurred on preparation of lease as well as expense to remove the tenant is also claimed as immediate deduction.

Expenses that can be claimed over number of years are depreciation of the assets, structural improvement and borrowing cost.
Assets such as air conditioner, hot water system, refrigerators can be claimed over the life of an asset.

Structural improvements such as cost incurred to improve the structure of the building such as adding a room or constructing a fence can be claimed over the number of years.

Borrowing cost such as loan establishment fee, stamp duty on mortgage, title search fee may be claimed over five years if they are more than $100.

Contact us today on 1300 300 106 to discuss what more can you claim.

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Individual tax returns from $110 - $130