Tax Return Perth | Overdue Tax Return

  Many accountants working in the accounting industry offer a variety of financial planning services to their clients, including retirement, investment, real-estate, individual income, and asset management.   Accountants can also help with probate court administration, estate asset management, or estate planning. Based on the company's earnings and expenses, business taxes are calculated. These business tax tips can help you reduce your tax liability. The self-employed deduction is one of the most common deductions. You can deduct expenses such as office expenses, vehicle expenses, and business phone bills. If you need any help with your accounting,  contact Auditax accountants . You will be able to take advantage of the self-employed tax deduction if you have a home office or a tax home. If you are self-employed, there are a few things you need to remember about tax. It is a brilliant idea to keep copies of your pay slips, business tax statements, and business credit card bills. Y

 In addition to opening a bank account or starting a part-time job, paying taxes is another sign you have reached financial maturity. The task of filing an income tax return can seem daunting for most people. How do you determine if you need to file one? Mark Morris, Professor at La Trobe University and Professor of Practice In Taxation, are here to guide you through tax season. Here are the top 10 tax questions that you should be asking as an Australian university student. These questions will help you decide whether or not you must file an income tax return for the tax year ending 30 June 2018. If you do, you can also learn how to prepare one. 1 . Are you an Australian tax resident first ?  Determine if you are an Australian resident to calculate your Australian income tax. If you are born in Australia and live there for income tax purposes, you will be considered an Australian resident.  Importantly, international students can be considered tax residents of Australia if they are Aus

  Late Tax Return? We will assist you in bringing up your Tax Returns if you haven't filed them for many years. Here is the information you need about late tax returns. If I don't have a lot of income, do I need to file a tax return? The answer is most likely yes In Australia, lodging a tax return (in most cases) is mandatory. The ATO can't assess your income tax liabilities without your tax return. By filing your tax return, the ATO will have information about your income, as well as other pertinent information. You may be exempted from tax in specific financial years (e.g. You have no income, but you must still update your information with ATO. To avoid penalties, you must lodge the update before the due date for your tax return. What are the penalties and fines for late returns? To overdue activity statements or tax returns (BAS and IAS), the ATO will apply a "failure lodge on time" penalty (FTL). For individuals and small businesses, the FTL can be up to $900

  You could be facing severe financial penalties and even jail if you fail to file your tax return. You could also be missing out on a substantial amount of cash. Tax time is upon us. If you have not filed your tax returns in previous years, now is the time to do so. Australians could face an $1100 fine and $8500 penalty if Australia's Taxation Office prosecutes them for failing to file their tax returns. Anybody earning more than $18,200 is required to file a tax return.  Most people do the right things. However, according to Tim Loh, the ATO assistant commissioner, the best advice for taxpayers who have outstanding returns is to bring them up-to-date as soon as possible. There's a good reason too.  He said that four out of five Australians receive a refund. If you don't file a claim, you might be missing out on the money you could have back in your pocket." news.com.au. "We recognize that sometimes people don't fulfil their lodgement obligations on time,