How tax return is prepared in Sydney what the accountants may require.
There are many tax accountants in Sydney that will perform the tax return for you. What is needed to process your tax return? In order to processes your tax return your accountants will required the below information.
Note the below is only for individual tax return, business tax return and company tax return will be published soon.
- Your name - Your phone number - Your Date of birth - Your occupation All income sources group certificates (PAYG payments summaries) and all other income e.g. Rent received interest received. - Current address. - Shares dividends. - All work related and other work related expenses. - Gift or donations to charities and churches. - Medical expenses over $1500. - Private health fund. - Cost of managing tax affairs (last year tax agent's fees). - If you have spouse- married or de facto provide spouse taxable income. - If you have any dependant children under 21 years or full time student under 25 years?
Basically you will need to list all your income and work related expenses. Your accountants will also need you to sign the tax return document before they lodge it for you. You will need to be very accurate about the information you provide to your accountant as it will be your responsibility to ensure the accuracy since you are signing the tax return documents. Advise Please ensure you list all related work expenses, interest payed on investment such as CFD, margin loan, property investment, and any other investment interest. Also include travel expenses (only from work to work, or work to uni or TAFE). You may include up to $300 worth of expenses with out receipt. Other expenses will need to be supported by evidence such as tax invoice document or receipt. You may also consider to keep your share for more than 1 year before selling it, because you will pay only 50% of what you may pay if sell your shares before 1 year of ownerships.
