Documents Required To Lodge Tax Return in Australia

December 22, 2020    Taxagent Perth

Filing tax returns is a serious task that you have to learn more about. When it’s almost time for you to look back, when you realise that the days of your retirement are approaching, you know you have to accumulate all that remains. It is indeed a time consuming task to lodge tax return appeal given the copious amount of time you have to invest in paper works, submission, and all the formalities. But with the help and guidance of a Registered Tax Agent, this task can be simplified. It has also become a little hectic because many tax agents in Perth extend their service to your households. This means you don't have to go to the tax office to do the job but the stipulated officials will come to you for collecting all the necessary documents required to finish your tax return task!

First things first, let us provide you a detailed information on the documents that are required to finish this process.

Read More:- Why A Business Advisor Is Important And How Can You Hire The Best One?

Your Basic Information

You need to provide your name, address, Bank Account where the refund that you owe is to be transferred, a BSB number to locate the bank branch of your account according to the owner i.e. your name and your tax file number.

Details Of Your Income And Amount Of Expense

This section is to be carefully read. Your tax agent needs all the necessary details of your business for conducting Personal Tax Return. So, you need the following:

  • All the details about payment that you received from your employers, allocated super funds upon your retirement, Centrelink Master Program or the DVA aka Department Of Veterans' Affairs.
  • The summary about the amount of termination payment of your employment.
  • Statements of the interest received from banks, post office or any other financial resource.
  • If you have received any kind of foreign pension or income, you have to produce the necessary receipt.
  • Any previous donations, investments you have made or any office related expense you had need to be produced with a verified receipt.
  • Payments made on the favour of child support scheme.
  • Details of the spouse, if any. This is done to verify whether you are not paying an extra tax than required. Details of the financial status of the spouse is also kept on record with the aid of these likely documents.

Record of Any Investments That You Made

Most of the business make some kind of investment in a small or grand scale for different future plans. If there are any investments that you have made with the aid of managed funds, details about the payment of dividends and the successive distributions are to be required, besides the details of any profits and losses made.

If you own shares, managed funds, units, you have to provide payment details of dividend and distributions to your tax agent. And, details of profits or loss made from shareholding or other investments.

Read More:- Important Steps When You Start a New Business

Personal Investments Made In Rental Properties

You must have had one or more rental properties as a part of your future planning. Often, people utilise their bought homes or lands by renting them to others as a means of earning some extra cash. So, you need to provide details of your income coming from tenants is required along with property investment values. Details of

  • Income from rents
  • Interest charged on loans for this property
  • Any expense made for the property like damage repair, reconstruction etc. Insurance also counts.

These are the questions and documents that will be asked from you precisely. Once you finish the paperwork related formalities, a tax agent will contact you from the company you consulted to help you lodge a tax return.

Contact Tax Agent Perth Now!

RELATED POSTS
  • I was very frustrated with my business tax services. It was a very hectic task for me to handle all the tax services and other business services then one of my friends suggested to me Tax Agent Perth WA for my business’s tax services. Now I am very relaxed because Tax Agent Perth WA handles all tax services of my business whether it is GST tax return or BAS tax Return. They have a professional team of tax agents who will handle all your business services. After appointing them my workload becomes half. Seriously amazing job by them. I am very much thankful to Tax Agent Perth for helping me and I would like to suggest their Tax services to everyone looking for the same
    Romy Adhikari
  • One of my close friends suggested me Tax Agent Perth for my small business tax return. As he is taking their tax preparation services from the last 2 years. Before appointing Tax agent Perth, filing a tax return on myself is very difficult and complicated but when I appoint Registered Tax Agent Perth for my business tax return it becomes very stress-free for me. They helped me in this very smoothly with their professional team of tax agents. Thank you so much Tax Agent Perth for the great service. Highly recommend the Tax Agent Perth team for their tax services.
    AS GILL
  • When I searched for a Tax Agent near me - I got to consult you guys. My search really came to a positive conclusion by having a face to face consultation with you. The team has a deep understanding of the challenges faced by business owners. The care and empathy they show to their clients is second to none. I felt very supported during the current time where there is a lot of uncertainty. I highly recommend the Tax Agent Perth WA team.
    Anil Sharma
Paying Too Much For Tax or Need an Expert Tax Agent?
Copyright 2022 Tax Agent Perth All Rights Reserved.
Enquire Now
Call Us Now