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We are experienced in the preparation of income tax returns for all trading and non-trading entities including the following structures:
We are experienced in the preparation of financial statements for all trading and non-trading entities including the following structures:
Accountant Helensvale, Accountant Goldcoast, Goldcoast Accountants, Tax Returns, Small Business Tax Specialists, Small Business Tax Goldcoast, Small business Advice
Negative gearing refers to a situation where an investor borrows money to purchase an asset (usually a property) but the income from the property doesn't cover the interest on the loan. Tax deductions are available for those with negatively geared properties and this is sometimes used as a strategy to reduce tax whilst investing.
The income will be taxable unless you have worked overseas continuously for more than 90 days and are working on a specific Australian government project or deployed overseas as a member of an Australian government agency. In these cases the income will be tax exempt. If your overseas income is not exempt, you will need to declare the income on your Australian tax return and may be entitled to a foreign income tax offset for any foreign tax that you paid on that income.
Yes - provided it details the supplier and date of purchase the ATO would accept it as proof of purchase. We recommend you make a notation on the document indicating the type of goods that were purchased. Many taxpayers use the internet to purchase or pay for their work related expenses and so the ATO will also accept Bpay or email receipts provided they contain the necessary information; date, supplier, nature of the goods and the amount.
A SMSF allows you to be in control of the investment decisions: What assets to invest in (shares, term deposits, managed funds, direct property etc.) How to manage the costs with greater certainty To borrow to buy property To do in-specie transfer of listed shares or business real property from yourself to a SMSF Increased flexibility in implementing tax effective strategies.
There are many strategies available depending on your circumstances: Transferring listed shares in your own name into super without increasing your personal tax liability Transferring funds that would otherwise be taxed at your own personal marginal tax rate into a tax free environment Utilising Transition to Retirement to tax effectively maximise your super balance for retirement Borrowing to buy residential or commercial property inside of super.
Yes, it is necessary to complete a tax return to date of death if a return has been lodged in past years. This return, marked final, must show all income received to the date of death.
No, it isn't necessary to complete a return before leaving unless you will not be back before the due date for lodgement of your return (31 October). If you won't be back until after that date contact the ATO or a Registered Tax Agent to apply for an extension of time to lodge.
