Most of the tax agents keep a simple and handy personal as well as business tax checklist to ensure everything is in right place.
Before the time of the year comes again for tax, be ready with it. Those who are doing it for years may find tax filing and return process like a cake walk; however if you are doing it for the first time and trying to lodge a tax return for your new business it can be a tough task ahead. So, what exactly you need to do, where to start from, what are the steps to follow? Well, you don’t have to panic a lot, just get in touch with tax agents in Ballarat to simplify things for you.
Tax agents and accountants in Ballarat can certainly help you manage your tax in a better way and advice you tailored made solution for your business or personal needs.
Since, these tax accountants are well versed with the situation, they can help you with placing things in order. All you need to do is get in touch with a tax agent in advance, consult them share personal or business details so that they can come up with a perfect solution.
If you are looking for personal tax return, please following the below instructions and keep these documents handy:
- Keep PAYG payment summaries Group Certificates handy
- Any dividends or other investment income
- Keep a copy of previous years income tax returns ( *for new clients only)
- Make sure all rental property information are in place
- Receipts for any possible claims/deductions including: Self-education costs (if any), all travel expenses, motor vehicle, laundry costs or any other work related expenditures
- Include Tax agent fees paid during last financial year (*for new clients only)
- Any kind of donation or gifts
- Your account bank details for any refund
- Premiums paid details for income protection
- Annual taxation statement details & private health insurance
- Payroll records
- Make sure you have Bank Statements for all business accounts as well as the loan statements
- Details of carried forward losses – complete details
- Documentation for any new Capital purchases such as Motor Vehicles or properties
- Trade Debtors/ Creditors listing as at the end of the period
In case you are a business owner, this what you need to get ready with:
Consult Tax Accountant Ballarat to know more and get best suited solution for your personal or business taxing issues well in advance. A small step today can ease out the future hurdles.