No, everyone lodges 1 individual return per year. If you are a sole trader, work multiple jobs or have an investment property, this is all included in the 1 return.

Yes, be sure to keep all receipts safe and easy to find.

Penalty interest may be applicable if you have outstanding debts or lodgements, or you may be eligible for a tax refund.

This will depend on where your income is paid from and for how long you are overseas.

There is a difference between being a resident of Australia and being a resident of Australia for tax purposes.

Contact us with your situation and we can let you know what you need to do.

If you remain an Australian tax resident, you must lodge an Australian tax return. If you work overseas for 182 days or less, you must declare to the ATO:

• all your foreign employment income
• any exempt income, even if tax was withheld in the country where you earned it.

By sending them in prior to your appointment we can have our system up to date and the Tax Return partially completed before you even make it through the door. This also means we can ask you to bring any missing documents with you and discuss your Tax Position with you during your appointment. We want you to get the most out of your appointment with us so why spend your appointment going through documents when we can go through your Tax Return, Tax Situation and Planning Strategies for the year ahead.

You are much better waiting until you have all your tax documents together before coming in. Let us know when you are ready and we are happy to reschedule your appointment. If you would like to have a chat about what documents you need, do not hesitate to ring our office at any time.

We understand that you don’t always know what you need, to get your Tax Return completed and that sometimes we will ask for items you would have never thought of. We will issue you with a list of items required to complete your Tax Return after we meet with you or commence your Tax Return. Until we receive all of those items we will not continue working on your Tax Return.

Not only do we want you to be able to claim all the expenses you are entitled to, but we want to ensure that your Tax Return is prepared in the most efficient way possible so that we can be as cost effective as possible.

The best time to lodge your tax return is from late July. This is because most of your information from your employers, banks, health funds and government agencies will be automatically pre-filled in your return for you. Lodging your return before all this information is available may result in the ATO amending your return automatically which could potentially result in a bill.

Your claimable work expenses are dependent on your individual situation and should be discussed with your Accountant. Some expenses that are available to claim include:

• Working from home expenses (phone and internet costs with records show your work-related usage)
• Logbooks, diaries and pens used for work.
• Union and professional associations fees.
• Seminars, conferences and courses that directly relate to your work.
• Up to $300 of work-related tools.

Yes, if you don’t have any proof of payment you can claim up to $300 worth of deductions.

If you don’t have receipts, you will need to have access to the following should the ATO ever audit you.

• Documentation that include the name of the supplier, amount of the expense, what the goods or services are, date the expense was incurred for example:
  • Bank statements
  • Credit card statements
  • BPAY reference numbers
  • Email receipts
  • PAYG payment summary
  • Paper or electronic copies of original documents

It depends. If you have genuinely travelled 5,000km for work related travel and haven’t been reimbursed from your employer, yes you can.

Should the ATO ever audit you, they will request the following:

• Diary proof of travel.
• A letter from your employer stating that the travel was work related.
• Proof that the car is registered in your name or in the name of a spouse.

No, you cannot claim the cost of any car expenses, including kms travelled for work, if you have a Novated or Associate Lease; this is because your vehicle expenses are already paid using money that has been contributed to your Salary Packaging Trust Account in pre-tax dollars.

Your Tax Return is not affected by your Lease; however, you should make your Accountant aware of your Lease to ensure you do not claim for expenses that are not eligible.

Additionally,  if you have an Associate Lease, your Associate must make their Accountant aware to ensure their Associate income is included in their tax return.

Yes, if you have been required to travel for work purposes (not including to and from work), you will be able to claim the cost of parking and tolls on your tax return.

If you are required to travel over-night and don’t attend your usual work location and were not reimbursed by your employer, expenses could include meals, accommodation and incidentals.

It depends. If you have sold an Investment Property, chances are you may be required to pay CGT. Factors include:

• If you have ever lived in the property
• If you own other properties
• The price you purchased it for
• The price you sold it for
• Other costs involved

If you have sold property or shares in the financial year, bring this up with your accountant as you may be required to pay CGT.

Yes. Capital losses are carried forward and deducted from capital gains in future years. There is no time limit on how long you can carry forward a net capital loss.

This will depend on your income and the repayment threshold and rates for the financial year.

If you still have an outstanding HELP balance you may be require to make compulsory payment when you lodge your tax return if you haven’t already contributed the required amount. Check in with your payroll to confirm they are aware of your HECS-HELP debt to ensure they are withholding for you, where required, to avoid potential headaches.

It is payable where your income is over a threshold amount and you do not have adequate private hospital insurance. The income threshold and rates can change each financial year, which will be outline on the ATO website. If your income for surcharge purposes exceeds the relevant amount and you do not have private hospital cover, you will be liable to pay the surcharge.