Add us as an advisor to your Xero accounting software by clicking the link below via info@taxaccountinghouse.au

DEPENDENTS

A dependant for Medicare levy exemption purposes means a person who is:

• a spouse (any gender).
• a child aged under 21 years.
• a child aged 21 to under 25 years who is a full-time student at a school, college or university and has adjusted taxable income of less than $1,786 for the year.

Click 👉 here to see a sample of the private health insurance Tax Statement.

Please Note: 

1. Use the below tables to record your Sales & Expenses.
2. Do not include income & expenses relating to salary/wages.
3. State the business use % so expenses etc can be apportioned.
4. Include amounts excluding GST, if registered for GST.
5. If registered for GST, or required to be registered, you must lodge all BASs to 30 June before the tax return can be prepared.
6. Once the said BASs are lodged, we are required to perform Income, Expenses, GST reconciliation, and any amendments before tax lodgement to ensure accurate remittances. Our charge-out rate is $170 per hour for this activity.
7. The PSI tax schedule fee starts from $495 per schedule.

Please read the 'notes' below before completing this statement:: 

1. Use the below tables to record your Sales & Expenses.
2. Do not include income & expenses of salary/wages.
3. State the business use % so expenses etc can be apportioned.
4. Include amounts excluding GST, if registered for GST.
5. If registered for GST, or required to be registered, you must lodge all BASs to 30 June before the tax return can be prepared.
6. Once the said BASs are lodged, we are required to perform Income, Expenses, GST reconciliation, and any amendments before tax lodgement to ensure accurate remittances. Our charge-out rate is $170 per hour for this activity.
7. The sole trader tax return fee starts from $495 per schedule.

SHARES / BONDS / EFTs / OPTIONS:

• Share Brokers: EOFY Annual Tax Summary Statement (PDF) & Full Transaction/Trade History (CSV).
• Share Registries: DRP Statements, & AMMA/Annual Tax Statements

CRYPTOCURRENCY:

• CEX Centralised Exchanges: download
  • Tax Report;
  • Full Transaction History - export All Buy/Sell/Deposit/Withdrawal History as CSV.
  • Futures Trade History (every executed order)
  • Futures Income History (funding fees paid/received, commissions, realized PnL).

• Decentralised Platforms: provide public addresses below. Otherwise, complete & upload the SPREADSHEET below if you have a large number of wallets.
  • Derivatives: Public Wallet Address &
  • DEX interface showing Realized PnL (Profit & Loss), Funding Payments, and Liquidation Fees.

• NEVER provide your private key or seed phrases.

• click this hyperlink to download, complete, save and re-upload Capital Gains or Loss Template in the Property CGT doc button below.

Please download, complete and re-upload our "Rental Income & Expenses spreadsheet". This spreadsheet is a useful checklist to ensure you can easily present all the property information we need to correctly complete your tax return.

Please Note: 

1. you must lodge all BASs up to 30 June before preparing tax return.
2. Once the said BASs are lodged, we are required to perform Income, Expenses, GST reconciliation, and any amendments before tax lodgement to ensure accurate remittances. Our charge-out rate is $170 per hour for this activity.
3. upload Tax Statements from Uber etc via the file button below.
4. upload all BASs lodged via the file button below.
5. The Sharing Economy tax schedule fee starts from $99 per schedule.

Add us as an Xero advisor to your accounting software by clicking the link below via info@taxaccountinghouse.au

To claim the cost of uniform or protective clothing, it must be unique (e.g., employer's logo) or specific to your occupation (e.g., police uniforms, hi-vis vests for tradesman). You cannot claim plain clothing e.g. suit, skirt, shirt even if you wear it for work.

If you had to buy tools and equipment to earn your income, you can claim a depreciation for some or all of the costs, including insurance for the items: -

Protective items: e.g. hard hats, goggles, sunglasses, sunscreens, and cosmetics containing sun protection if you work outdoors.

Technical instruments: stethoscope, thermometer, tongue depressor, calculator, computers & software,

Office Equipment: desks, chairs, lamps, filing cabinets.

Hand tools: spanners, hammers, screwdrivers, grinders, sanders, hammer drills & toolboxes.

Please provide list of individual items or set, purchased, and upload supporting documents below. Do Not include items acquired via salary packaging.

You are entitled to claim deductions for some other directly work re-lated expenses that are not listed elsewhere in this deduction checklist, e.g. if you're a medical professional you may be able to claim: -

• union fees
• professional indemnity insurance, medical registration fees.
• membership fees, AMA, APRAH, other medical professional associations.
• medical journal subscriptions and publications.
• medical briefcase.
• overtime meals

You cannot claim WITHOUT receiving the Written Acknowledgment. Go obtain this from your Superfund, 'SAVE' & 'RESUME' the checklist later.

There are 3 methods to calculate home office expenses depending on your circumstances: 

1. Shortcut method: Covid-19 periods.
2. Fixed-Rate Method: Non-Covid-19 periods.
3. Actual Cost Method***

***The Actual Cost Method is intensive and will cost an additional fee of $100 if you elect to calculate, however, it'll not guarantee a better deduction outcome.