Thank you for the opportunity to prepare your tax return last Financial Year and once again we look forward to preparing and lodging your return for 2018. Interactive Tax Consultants (ITC) have a qualified team of staff to assist you in a wide range of services including;
- Individual Tax returns
- Investment Properties
- Capital Gains Tax
- Small to Medium Businesses, Bookkeeping and BAS Preparation.
New ITC Portal – sign and upload documents
We have made it easier to receive and send documents and information this year by providing you with your own ITC portal. You can upload your spreadsheets and documents and we can then leave documents for you to sign using an ATO approved digital signature. To activate your personal ITC tax portal, please call Pooja at reception on 9212 1982.
ATO audits of work related expenses
The ATO have begun random audits of work related expenses, particularly for tax payers with higher than average claims for their salary level and occupation. To ensure you are able to substantiate your claims please ensure:
- The deduction is required by your employer
- You have the receipt, take a photo and store it on your phone or PC
- It can be verified on your bank statement, credit or debit card
I have prepared a list of what to bring below and there is also new information on our website. We look forward to corresponding with you soon.
Financial Year Ended 2018 – What you’ll need.
- PAYG Payment Summaries.
- Interest earned on bank accounts.
- Foreign income and foreign investment losses
- Dividend statements including dividend reinvestments.
- Employee option and share scheme documentation.
- Financial summaries from managed funds and other financial institutions.
- Total interest charged on margin loans and other investment loan products.
- All Buy and Sell Contract Notes from shares sold during the year.
- Private Hospital Cover details.
- Ipad, tablets, work related apps, computers, software, and antivirus, upgrades, mobile phone, and internet, stationary and home office running costs.
- Foxtel where used for research
- Seminars & conference fees including travel & accommodation, books & journals
- Union fees, tools and equipment, protective clothing or uniform with logo, sunscreen, sunhat and sunglasses,
- Income protection insurance
- First Aid training
- Education expenses in excess of $250 including related travel.
- Log book for work related motor vehicle or number of km travelled up to 5,000
- Rental property statements, interest charged and related expenses.
- Charitable donation receipts.
- Medical expenses for disability aids, attendant care or aged care.
- BSB and Account Number for a quick refund by direct deposit into your bank account.
As a tax agent I can offer extensions between March 2019 and May 2019, please contact the office for your specific date.
Bring your home loan statement for a competitive quote
ITC now offer in-house finance with our own qualified, dedicated broker and access to 45+ lenders. Our unique difference is that every loan recommendation is backed by accountant advice, so you’ll get the best recommendations and the sharpest rate. You’re under no obligation to proceed with our finance, so it’s worth giving your loan a health check. Visit https://interactivetaxconsultants.com.au/finance-broker/ for more information on our new finance services.
ITC also has associate practices in financial planning and commercial law to assist with your wealth management strategies including Self Managed Superannuation Funds, so please ask if you require no obligation information or assistance in any of the areas mentioned.
We look forward to hearing from you soon!
Welcome to the InterActive Tax Consultants’ news – part of our personal and easy to understand approach to taxation. We are committed to working with you to achieve the best results for your business. If you have any question or would like more information on any of the articles please contact us.