What to bring

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 2019.

Interactive Tax Consultants have a qualified team of staff to advise you over all arears of; Individual Tax returns, Investment Properties, Capital Gains Tax, Small Medium and large Businesses, Bookkeeping and BAS Preparation,

After much debate the low- & middle-income tax offset made its way through both houses of parliament close to June 30 kick starting tax refunds with up to $1,080 for taxable incomes up to $126,000.

The late piece of legislation has made lodging tax return up until now quite difficult however returns are now process smoothly within the usual 5 to 10 working day service standard provide by the Australian Taxation Office (ATO).

The ATO are continuing audits of work-related expense particularly for taxpayers with higher than averages deductions for their salary level and occupation.

To ensure you can substantiate you claims please take care that you are able to comply with the following;

  • There is a direct connection between the deduction and earning your income
  • You have the records to substantiate the claim
  • It can be verified on your bank statement, credit or debit card
  • The expense was not reimbursed by your employer

Home Loan Rates from 2.99% with ITC Finance Broking

Interactive Tax Consultants launched ITC Finance Broking during the year and has already helped many clients purchase their home, investment properties and refinance down to lower rates than their exciting finance providers. We have a panel of over 45 lenders to ensure we apply for the right loan with the sharpest interest rate. Please click on the box below to contact our inhouse mortgage broker Samantha Moore for no obligation free Loan Health Check.

We have made it easier to receive and send documents and information this year by providing you with your own ITC portal, you are able to upload your spreadsheets and documents and we can then leave documents for you to sign using an ATO approved digital signature. For more information and to activate your own ITC tax portal please call and speak to reception on (02) 9212 1982.

I have prepared a list of what to bring below and there is also new information on our website, look forward to corresponding with you soon.

Financial Year Ended 2019

  • 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 (see below for an extensive list). There is also a link to a tax depreciation calculator, to give an estimate of depreciate deductions.
  • 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.

Investment Properties

  • Advertising
  • Agent Fees & Commissions
  • Body Corporate Fees
  • Borrowing Expenses
  • Building & Structural Improvements
  • Cleaning
  • Commissions & Management Fees
  • Depreciation
  • Electricity & Connection Costs
  • Bank Charges
  • Gardening
  • Gas
  • Head Rental
  • Insurance
  • Interest
  • Land Tax
  • Lease Incentives
  • Legal Fees not associated with eviction
  • Mortgage Insurance
  • Municipal Rates & Taxes
  • Office Supplies
  • Postage
  • Repairs
  • Prepaid expenses up to 12 months (interest, body corporate, council, water)
  • Replacement assets
  • Security
  • Solicitor Disbursements
  • Telephone
  • Travel
  • Water

As a tax agent I can offer extensions between March 2020 and May 2020, please contact the office for your specific date.

Interactive Tax Consultants launched ITC Finance Broking during the year and has already helped many clients purchase their home, investment property and refinance down to lower rates than their existing finance providers. We have a panel of over 45 lenders to ensure we apply for the right loan with the sharpest interest rate. Please call the office and speak to our inhouse mortgage broker Samantha Moore for a no obligation free consultation.

We look forward to hearing from you soon!

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