Our guess is you’re cringing right about now!
TAX! – That nasty 3 letter word that brings out the worst in all of us, where we all think we pay too much, get back too little & the government does nothing with it anyway…
Now, no one said we have to actually like paying tax and yes, surprisingly we agree that we pay way too much! C’mon though, deep down each of us knows that in order to have safe roads, hospitals, police etc. taxes are a necessary evil.
So, we hear you ask…how exactly would a Tax Accountant help with all that tax stuff? The answer is really quite simple. We (at Lifestyle Accounting & Mortgages of course!) can take you through the steps to help you lodge your annual Tax Return, work through the myriad of tax deductions which may be available to you (more $$$ in your pocket!) and do our very best to MAXIMISE your TAX REFUND. Sound good?
In short…we are specialists in helping you get your money back!
Why should you have to deal with bundles of paper work and receipts when we’ll do it all for you? Surely you’ve got better things to do with your spare time? We don’t, we’re Tax Accountants!
How Much Tax Will I Pay?
Do you work several jobs? Own shares? Have an investment property? Own your own business? Maybe you want to go into business? Do you have insurance? Are you receiving a pension? All of these extra factors can make you Tax Return a little but more complicated. But why should you burden the stress when we’ll do it all for you?
What Is The Taxation Process?
At the end of the financial year (1 July to 30 June) we all have to submit a Tax Return.
This vital piece of information outlines all the details of your income that you’ve made in that year, taking into account wages, rent from an investment property, interest from money in the bank or from dividends, profits from running a business and so on.
We also itemise all those things that you could potentially claim as a tax deduction i.e money that the tax man will give back to you. You’ll also have to show how much tax was withheld from a salary or was pre-paid to the Tax Office via tax instalments.
Lifestyle Accounting & Mortgages will bring all of these components together and assess whether you are eligible for a ‘tax refund’ or not. Your Tax Return is then sent to The Australian Taxation Office (ATO), who will check and confirm all the information and notify you of your refund via a document called a Notice of Assessment. We then send on this document to you, (hopefully) along with a nice BIG refund!
We specialise in tax. In fact we love it….call us crazy however it’s what we do best.
To help, we’ve put together a tax return checklist which will make your life that little bit easier.
Get in touch and make an appointment to see Troy. Bring along all the documents necessary to you that are outlined on the Tax Return Checklist so we can get things started for you while you work out what to with all that extra money!