Tax time is fast approaching.

Individual Tax Preparations will commence with us on 2nd August 2021.

We have put together a list of Q&A’s for how things will work this year, so you can get organised.

Covid is obviously throwing a spanner in to the works, so we can’t commit 100% if we will do In-person appointments in our office just yet, but it is our plan to. Depending on government restrictions and our discretion, we will make this decision in mid-July.

How will returns be done this year?

You will have a few options this year:

  • Tax from your couch
  • Zoom call
  • In-person appointment (Covid depending)

Tax from your Couch steps

  1. We will be sending out another email at the start of August when we are ready to start returns. Simply reply to that email with our instructions.
  2. We will provide you with all the information the ATO has on file for you, so you can advise if anything is missing.
  3. You’ll fill in our ‘Tax from your Couch’ questionnaire and upload any additional files and documents. If you already have all your details in a spreadsheet, you can simply send this.
  4. We’ll prepare the tax return behind the scenes.
  5. The tax return is then emailed to you for review. You’ll have an option to speak to an Accountant to go over the return and any questions once completed. You then electronically sign.

For more details about the process read more here.

Tax returns online

How do I book an appointment?

This year you have the option to have a face to face appointment – either using Zoom or at our office (Covid dependant).

Appointments in any case, will be with either David or Daniel and available from 2nd August.

If you aren’t a current client, please note we are not currently taking on any new non-business clients that aren’t associated with an existing managed client.

If you’re a current client, you can book using the link below:

To book please click here

Why are no appointments available in July?

This is to allow time for your information to flow through to the ATO ensuring the return is completed accurately.

July is also a month where our team are busy completing EOFY tasks for our business clients.

Where is Shaun?

After over 15 years of doing individual tax returns, Shaun has made the difficult decision to withdraw from individual tax return preparation in order to focus his time and attention on growing Optimised Accounting, as well as supporting the growth of our business clients.

David & Daniel will be available to work with our individual clients, they are experienced and have been trained in Shaun’s processes. Both David & Daniel have access to all of Shaun’s notes and history and can pick his brain at any time.

Shaun is still available for separate consultations if you need advice regarding major financial milestones & decisions such as buying/selling investment properties, starting a business and the like.

What about Covid restrictions?

If in-person appointments don’t go ahead as planned, your appointment will be changed to Zoom at the same timeslot.

 

Resources

To start gathering everything together, here are some handy links that may help:
(best to view on desktop)

  • Deductions checklist
    A list of common Income declared as well as deductions.
  • Rental Schedule
    An excel spreadsheet to help gather your rental property details
  • Rental Schedule (shortstay tenants)
    An excel spreadsheet to help gather your rental property details for shortstay tenants
  • Sole Trader (under $75K) Schedule
    If you’re not on Xero and don’t have your own spreadsheet, this is an excel spreadsheet to help gather your small business/sole trader business (not registered for GST) details throughout the year.

 

If you have any questions, please feel free to reach out and ask.

The team at Optimised Accounting