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Old Tax Returns

Even though it’s time to do your tax return for 2018, don’t forget that it’s never too late to catch up on old tax returns that you haven’t done or have forgotten about.

So don’t panic, call our office now on 07 38813029 and mention that you have to catch up on old tax returns when making your 2018 tax appointment so we can allow the necessary time.

 

 

Airbnb Income

Airbnb is a popular way of making some extra money. However, there are tax issues that arise.

The ATO are targeting Airbnb hosts who are not declaring their income and not paying their fair share of tax.

Airbnb income needs to be declared in your tax return. However, you can also claim a portion of your property costs to offset your tax. Examples of costs you can claim are rates, water, insurance, repairs, mortgage interest, phone and internet.

You may also be liable to pay capital gains tax when you sell your property.
So if you are an Airbnb host and don’t want the ATO chasing you for unpaid tax, make an appointment with one of our Airbnb tax specialists now. We can help you out and tell you what you need to do to keep it simple and easy.

 

Don’t Get Fooled By Tax Scammers

If you get a phone call from someone claiming to be from the ATO, it may be one of the new ways scammers are targeting people.  The robotic voice may say something like “as per our recent audit, we have identified incorrect sorted tax filings and we regret to inform you that your account has been marked delinquent on account of tax avoidance.  A petition note has been filed against your name, including a warrant for your arrest”.

So if you do receive a similar sounding phone call, don’t panic.  Just hang up the phone and either give us a call on 38813029 or call the ATO directly.  This also applies to emails you may receive that might say you have an unclaimed refund or similar.  Don’t open the email, delete it immediately.

 

Top 5 Tax Deductions You Might Not Know About – #5

Before you come in for your tax appointment there are a number of tax deductions that you may not know about or have forgotten.

Our fifth missed tax deduction is:

Tax agent fees:

Don’t forget that the cost of using Gotax to do your tax return is tax deductible in the following year.

If you haven’t done so yet, call us now on 38813029 to book your next tax appointment.  Make sure you ask the accountant preparing your tax return if you have any queries regarding the info of the above.

Top 5 Tax Deductions You Might Not Know About – #4

Before you come in for your tax appointment there are a number of tax deductions that you may not know about or have forgotten.

Our fourth missed tax deduction is:

Home office:

If you are required to work from home you may be able to claim some home office expenses such as computer costs, electricity and office furniture.  Just keep a monthly record of the number of hours you worked at home.

If you haven’t done so yet, call us now on 38813029 to book your next tax appointment.  Make sure you ask the accountant preparing your tax return if you have any queries regarding any of the above.

Top 5 Tax Deductions You Might Not Know About – #3

Before you come in for your tax appointment there are a number of tax deductions that you may not know about or have forgotten.

Our third missed tax deduction is:

Internet:

Do you work from home and need to use the internet?  If the answer is yes, you may be able to claim a portion of your internet costs.  Similar to claiming your mobile phone, you need to keep a monthly log book that records your work use.

If you haven’t done so yet, call us now on 38813029 to book your next tax appointment. Make sure you ask the accountant preparing your tax return if you have any queries regarding any of the above. 

 

Top 5 Tax Deductions You Might Not Know About – #2

Before you come in for your tax appointment there are a number of tax deductions that you may not know about or have forgotten.

Our second missed tax deduction is:

Mobile phone:

If you need to use your personal mobile phone to make work calls, such as calling customers or clients, you may be able to claim a portion of your phone bills.  You either need to keep a copy of your itemised monthly bill or keep a log to determine what portion you can claim.

If you haven’t done so yet, call us now on 38813029 to book your next tax appointment.  Make sure you ask the accountant preparing your tax return if you have any queries regarding any of the above.

 

 

Top 5 Tax Deductions You Might Not Know About – #1

Before you come in for your tax appointment there are a number of tax deductions that you may not know about or have forgotten.

Our first missed tax deduction is:

Claiming work related car expenses:

If you use your own car for work purposes, except for driving to and from work, you may be able to claim some car costs.
You need to keep a log book that keeps a track of the number of work km’s done.

If you haven’t done so yet, call us now on 07 3881 3029 to book your next tax appointment.
Make sure you ask the accountant preparing your tax return if you have any queries regarding any of the above.