Mint Accounts Services
Visit Us Daily
Melbourne 3000
Individual Tax Return
Individual Tax Return Melbourne, Personal Tax Return Melbourne
As an Australian resident for tax purposes, it’s a requirement to declare all of the income that you simply have received worldwide on your individual income tax return. Individual tax return includes income such as Personal income, Income received in bank Interest, Dividend received from Shares, Rent received from rental properties, PAYG income from employer now known as Income statement, Income received through Business activity etc. The current tax free threshold is AUD $18,200 for Australian residents only. A non-resident employed in Australia has to pay tax on every earned money from $1.
How to Prepare
Mint Accounting Tax Accountants look for ways to minimise your tax liability and maximise your deductions and will need certain information to help you with your tax return. Below is a list of documents to bring with you. Any questions? No problem. Simply call your local Mint Accounting Accounting Professional and they will tell you exactly what you’ll need to bring in.
WHAT YOU WILL NEED
To maximise your appointment like we maximise your tax refund, We suggest to review the below list of documents and receipts to bring along with you.
Income Statements also known as PAYG Payment Summaries (previously Group Certificates)
- Payment Summaries from Centrelink for instance, Newstart, Youth Allowance, Disability Pension
- Eligible termination payments
- Interest earned from bank accounts
- Share dividend statements
- Annual tax statements from trusts managed investments, property and cash management trusts
- Income and expenses from investment properties
- Business income
- Foreign income
- A list of work-related expenses (with receipts). This includes your automobile log
- Receipts of charitable donations
- Interest and costs on investment loans
- Donations to charities (unless you get a ticket to win something reciprocally, those ones don’t count)
- School building levies and library funds
- Tax agent fee charged for previous year’s income tax return
- Income protection insurance
- Sickness and accident insurance
- Private insurance
- Any extra superannuation contributions
- Amount of HELP debt or Financial Supplement loans outstanding
- Accommodation and meals costs you’ve incurred from working far away from home
- Home office running expenses
- Work-related education expenses
- Rental property expenses – rates, body corporate, agent fees, interest on your loan, repair and maintenance, water rates, depreciation schedule
- Investment expenses
- Records of sales and purchases of shares, businesses, or property
- Other details to consider are below:
- Bring the small print of your spouse, including their date of birth and taxable income to see if you’ll be eligible for tax benefits.
- Government debts
- Last Year’s income tax return.
Tax Return Services
Contacts
Visit Us Daily
Melbourne 3000
Have Any Questions?
0433 873 827
Mail Us
info@mintaccountsservices.com.au