2018/19 End of Financial Year

It’s almost here again: TAX TIME. 30 June is just around the corner and it can be a stressful time for some but there’s no need to worry with SBMS Accounting on your side.

We are still able to lodge prior year returns so if you want to avoid late penalties from the ATO we suggest you make an appointment to get your tax affairs in order immediately. And then let’s not make the same mistake for the 2019 tax year! The time to get organized is now.

Depending on your situation, and the likelihood of a tax refund or tax payment we’ll advise on the best timeline to lodge your tax return. We can assist with tax returns for individuals, trust, sole traders, companies and partnerships – all types of tax returns

It’s a good time to start getting your documentation order so we’ve put together a brief list of what you’ll need. This is by no means an exhaustive list but a basic guide as to what you’ll need for your Tax Agent. We’ll give you more guidelines closer to your appointment time…

Income

PAYG summaries

Rental income

Lump sum payments

Distribution, bank and share dividend statements

Expenses

Employment deductions

Investment and investment property deductions

Offsets such as health insurance

Work from home expenses such as internet, phone, rent and electricity

It’s also handy if you bring along bank statements, details of any government debt and last year’s assessment if you’re a new client.

SBMS Accounting looks forward to maximizing your tax return or minimizing your tax payment so please get in touch to make an appointment. Either give the office a call on 07 5578 8333 or request an appointment online.