Expert Services and Friendly Advice – Tax Return New Farm
The Tax Season is here and there’s still time to complete your Tax Return New Farm. Providing expert tax services to the New Farm and outer-surrounding areas, we can assist you to meet all of your tax return obligations. Whether you are seeking Individual, Business, Trust or Self-Managed Super Fund (SMSF) tax services, our friendly and experienced Accountants can help you. Feel organised and confident this New Financial Year, with the right tax solutions and advice.
Using the leading tax and accounting software and up-to-date industry knowledge, we can help you to legally maximise your refund and claim all of your tax entitlements. We have also included a quick check-list outlining the common work or business-related tax deductions you may be able to claim, as well as how to claim them.
At MAS Tax New Farm, we promise to deliver premium quality, cost-effective tax return services to each of our clients. We aim to achieve this by taking the time to develop a full understanding of your tax situation and requirements, and offering personalised solutions. During your first appointment, we will discuss your tax needs and duties, and go through a comprehensive check-list to ensure that no important details are missed. We like to keep open communication channels with our clients, so any questions, information or forgotten tax documents can be easily shared and updated.
Our Tax Return New Farm services and end of year work covers a variety of structures, accounts and entities. Including work for:
- Individuals
- Sole Traders
- Small to Medium Businesses
- Companies
- Partnerships
- Trusts
- Self-Managed Super Fund (SMSF)
Common Work or Business-related Tax Deductions
At MAS Tax New Farm, we consider more than just the standard tax claims and deductions, and work towards securing the best possible refund you’re entitled to – no more, no less. However, there are some common work-related and business-related expenses that you may be able to claim. A part of our Tax Return New Farm service is to double-check these common tax deductions and avoid simple mistakes.
Before making a tax claim, you will need to ensure that they meet the following criteria:
- It is a work or business-related expense
- You have a legible record of the receipt, invoice, logbook, contracts or journal notes. This record can be paper or electronic
- The expense was paid for by your own money
- You were not later reimbursed by your employer
Common work and/or business-related expenses that you may be able to claim, include:
- Uniform and laundry costs
- Home office supplies
- Tools and equipment
- Self-education expenses, needed as a part of your job
- Costs for attending conferences, seminars or educational workshops, as required by your job
- Mobile phone and internet expenses
- Vehicle and travel expenses, see Work Vehicle Logbook below
RELATED: Find more information on the deductions you can claim at the ATO website.
Deduction allowances will vary between jobs and industries, so you should always keep your relevant receipts, logbooks and documents, and seek advice from your Accountant. We can advise you on whether or not you can make a certain tax claim.
Work Vehicle Logbook:
If you travel regularly for work, you may be able to claim some of the travel costs in your tax return, such as fuel and car expenses. You will need to keep a detailed vehicle logbook, on the time and distance information for each trip, as well as keeping your fuel receipts.
The most common method for claiming work-related car expenses, is to record your trip details for 12 continuous weeks, for every 5 years. This will represent your vehicle usage for each financial year during the 5-year period, assuming that you remain in your job role.
DOWNLOAD our Vehicle Logbook for your work and/or business-related travel trips. Remember to keep a separate logbook for each vehicle.
Learn more about our New Farm office, including the Tax, Accounting, Business and SMSF services that we offer.
For more information or to make an appointment, please contact us below or call us on 1300 627 829
