It’s time for you to prepare for your tax return appointment. We certainly hope you get a good refund this year, and look forward to finding every deduction available to you in your circumstances. Taxation is a complicated area. There are changes to the laws and rules every year. A small mistake can have a huge effect, and getting it right can greatly improve you refund outcome. We have included a list below of the things you will need to consider when preparing for your return appointment.
Collect All your Income Information.
- Payment Summaries from each Employer.
- Bank interest you have earned during the year.
- Centrelink Statements.
- Dividends from shares.
- Managed Funds Annual Taxation Statements.
- Rental Property data like the rent manager’s statements.
- Private Health Insurance Annual Statement.
- Any other Income.
Collect All the information on your Deductions.
- Motor Vehicle Kilometres travelled on work.
- Travel Expenses for out of town work like airfares, accomodation, food and incidental expenses.
- Uniform, protective clothing expenses, protective footwear, and occupation specific clothing like with nurses and chefs.
- Union or Professional membership fees.
- Work related computer, Internet, home office expenses.
- Work related stationery.
- Tools & equipment etc.
- Any other Expenses.
Here are some external links to help you find some specific tax deductions which may help you this year if you work in four key occupations.
Nurses https://www.ato.gov.au/Individuals/Income-and-deductions/In-detail/Deductions-for-specific-industries-and-occupations/Nurses-midwives-and-direct-carers—claiming-work-related-expenses/
Teachers https://www.ato.gov.au/Individuals/Income-and-deductions/In-detail/Deductions-for-specific-industries-and-occupations/Teachers—claiming-work-related-expenses/
Tradies https://www.ato.gov.au/Individuals/Income-and-deductions/In-detail/Deductions-for-specific-industries-and-occupations/Building-and-construction-employees—claiming-work-related-expenses/
Retail https://www.ato.gov.au/Individuals/Tax-return/2016/In-detail/Publications/Shop-assistants-2016/
Remember our fee is a tax deduction and will almost always give you a great return on investment in your tax refund. You can pay on the day by credit card or Eftpos, or you can pay nothing up front and have the fees deducted from the refund.
You should also consider making an appointment through our website, https://www.concord.tax/contactus . It is a convenient way to select the times that would suit you best and also give you the opportunity to have your appointment with your preferred accountant.
Happy Tax Season
The Concord Team
Donna, Dharmesh, Kerry, Ariana, Carol, and Priyanka
