smarter way to file tax return
in person. by phone. online
Expert CPA tax accountants North Sydney
tax return North Sydney – smarter way
what to have for appoinment
- Your ID and Tax File Number
- Bank details for refund
- Payment Summaries (PAYG, Termination)
- Details of spouse taxable income
- Annual bank statement showing interest earned
- Annual statement for investment properties
- Dividend statements
- Annual share trading reports in PDF and CSV
- Annual statements from managed investment funds
- Details of foreign income earned
- Annual private health insurance statement
- Last year tax return
- Details of Income Protection Insurance, Sickness and Accident Insurance
- Expense statements/receipts for investment property, depreciation report, mortgage bank statement
- Evidence of donations to charities
- Annual statement from Investment, Trust or Managed Fund
- Accountant Fees Invoice for previous year’s tax return
- Log book and expense receipts for vehicle used for work purposes
- Receipts for work-related travel expenses
- Receipts for tools, equipment and uniform
- Education related expenses
CUSTOMERS ABOUT US
WHAT CLIENTS SAY?
I dealt with City Tax Accountants for the first time this year (with Elina). Amazing to deal with and helpful and fast – I definitely don’t know the ins and outs when it comes to what I am able to claim back etc but Elina walked me through it all and happy to say that have been able to get back as much as possible on my tax return! Thank you Elina and the team at City Tax Accountant – will definitely be dealing with you again next financial year!
I walked into Elina’s office knowing nothing and dreading it like a dentist appointment. With her personable but straightforward approach I relaxed within minutes while she went through several years of Tax Returns with me. What I thought was a daunting mess, Elina untangled expertly and concisely. Thank you!
WHY CHOOSING US
Lodge your Tax Return North Sydney with City Tax Accountants North Sydney to avoid a hassle of self tax processing and benefit from our professional knowledge and advice. Our professional tax agent in North Sydney does not leave a thing when it comes to your work related deductions, making sure you receive the maximum tax refund in North Sydney possible. City Tax Accountants North Sydney is the professional tax service company for individuals and business owners in North Sydney area. If you are a sole trader or a small business owner, City Tax Accountants North Sydney has a special offer and a cost effective solution for your bookkeeping, BAS and annual tax returns . You can use City Tax Accountants services for foreign income, GST, luxury car tax (LCT), payroll, salary packaging, tax discounts and depreciation schedules. Furthermore, the tax agent in North Sydney reviews whether any of various tax offsets is applicable to the client circumstances and explain the purpose of each of these tax offsets. Book your appointment now online, over the phone or at office.
Simply pick up the phone and make a call to reserve your telephone appointment. Alternatively, you can book it yourself online: choose a convenient date and time from the calendar. Have got more complex tax return North Sydney and believe it will be more convenient for you to e-mail us your paperwork? Just attach information about your income, expenses, contact number and forward to email@example.com. One of our tax accountants North Sydney will contact you to finalise and lodge your tax return.
City Tax Accountants North Sydney is a full service tax accountants of choice for residents and business owners in the area. Over the years, individuals and small business owners have trusted our services to handle their tax and accounting requests. Our team of experienced tax accountants can address all taxation queries, simplify complex tax affairs, and ensure a timely, efficient resolution to your personal and business tax issues.
Our mission is to provide the highest quality accounting and tax-related professional services. We believe that personal attention to every client and responsiveness to their queries are critical to our shared success. We continually endeavor to deliver exceptional, industry-specific service on all taxation and accounting matters. With a team of tax agents in North Sydney who are recognized for their specific skills in personal tax management and business tax accounting, we have you covered.
Corporate Tax Assistance
Companies across North Sydney area are looking for smarter ways to manage the increased strain on their in-house reporting professionals and tax accountants North Sydney. Greater scrutiny over income tax disclosures, financial regulations, restatements, and account balances mean an organizational need for higher tax accounting standards.
At City Tax, we administer a thorough due-diligence of your business-critical aspects, delving into specifics of your partnerships, proprietorship, compensations, superannuation, and other allocations. Our team of CPA accounting and corporate tax professionals then prepare a customized tax assessment for you, to claim the maximum tax return North Sydney legally available.
Keeping track of all taxation legalities while you increase your professional footprint, is a growing challenge. We can help you calculate your assessable income, determine the tax provisions, and avail all offsets, deductions, and tax relief available to you.
City Tax Accountants help you navigate the complexities of tax rulings, ATO laws, and allied services with simple, lucid explanation of legal buzzwords. We provide legal guidance on filing your tax returns North Sydney. As registered tax agents in North Sydney area, we can even manage extension of lodgment dates on your behalf.
Are you claiming all the deductions available to you? Whether you are a business employee, self-employed, small business owner, or a corporate employer – there are several government-authorized deductions available to you. Manage your taxable finances and get the maximum returns with our best-in-the-class services. We can handle everything from business activity statements (BAS), depreciation schedules, foreign income, fuel tax credits, goods and services tax (GST), land tax, luxury car tax (LCT), payroll, salary packaging, and tax concessions
Additionally, we avail all applicable tax offsets while preparing and lodging your returns, like:
- low income tax offset;
- private health insurance tax offset;
- small business income tax offset; and
- spouse superannuation contribution tax offset.
- zone tax offset
Personalized Tax Service you can trust!
From tax planning to preparation of your returns, City Tax Accountants North Sydney provide an array of personalized services to cover every aspect of your individual and business tax compliance.
Whether you need to reorganize your business expenses, defer tax on the sale of assets, file returns, form tax-exempt entities, or partake in an international transaction, we have tax agents North Sydney to proactively offer you strategic advice and minimize tax liability.
We analyze your tax commitments and prepare an exclusive quote tailored to your needs. And you pay only for the reliable, professional management of your tax affairs. No hidden fees. No fine print.
Once we’ve both agreed on the quote, we proceed to outline the following for you:
- Taxpayer identification using your tax file number and/or Australian Business Number (ABN);
- Establish your filing provisions – whether you qualify for PAYG (Pay as You Go) income tax instalments
- Interpret the income tax calculations in simple English, free of financial jargon – so you have clarity on payable and returns
- Determine the incomes to be declared, and all possible legal exempts, deductions, expenses, and rebates;
- Assessment of expected amounts – taxes payable or refunds;
- Prepare a draft and work through this step by step with you;
- Lodge your tax return on your behalf when you are satisfied that all elements are understood and accurate;
- Deliver the Notice of Assessment (Australian Taxation Office’s final decision) regarding your tax obligations, and answer any questions in that regard;
- Recommend you preferred options concerning amendments, objections, and payments;
- Ensure that you are accurately advised of deadlines regarding appeals.
How to complete your Tax Returns?
Preparing and lodging your tax return involves several lodgment statutes. Whether you are a student, on a sponsored visa, remote-location employee, holiday worker, business owner, or a citizen – we guide you through all the requirements:
- Signed Declaration in the Approved Form;
2. The inclusion of all Required Information;
3. Lodgment of Your Return in the Approved Manner
Amendment Procedure and Dispute Resolution
You are entitled to –
• Raise dispute with an Assessment, Determination, Notice of Decision Issued by the ATO; and
• Seek to Amend an Assessment
If you disagree with an assessment, amended assessment, determination, notices or decision issued by the ATO Commissioner, City Tax Accountants will Lodge an Objection pursuant to Act on your behalf.
Identify your Tax Options
Assessment of payable income tax fluctuates significantly for business or personal entities. Tax breaks, deductibles and offsets are often reliant on factors like source and type of total reported income, age, marital status, residency status, property ownership. We collect this information, calculate the tax rates exclusive to you, and prepare the tax return documents specific to you.
Despite their best intentions, we realize that people may not be able to meet their lodgment obligations at times. Numerous factors like academic commitments, family commitments, financial inability, scheduling conflicts, and/or extenuating events (medical emergency or natural disaster) may influence such decisions. We recognize them, respect your personal circumstances, and aspire to eliminate any FTL (failure to lodge) penalties you may incur.
For each isolated case of late lodgment, we explain the applicable laws, what you can expect, details of penalties, and supervise your tax filing process. If you have any additional questions or concerns, you can always reach us.
We provide you a step-by-step walk through of this process to ensure you’ve clearly understood everything.
Once you’re ready, we will explain the elements which calculate your assessable income, your personalized tax rate obligations, and the quantum(amount) of your Income as per ATO regulations.
Your Income Rate is basically a formula – Income Tax = (Taxable Income X Rate) – Tax Off-Sets.
Our tax agents North Sydney pride themselves on their professional excellence in efficient handling of late lodgments
Preparing your tax returns relies largely on accurate estimation of deductions available to you. Deductions can be broadly classified into:
- General Deductions – standard deductibles you incur from your income generation, as allowed by tax law provisions of Australia
- Specific deductions – ancillary deductions which are specific to your occupation, location of work, operational expenses and financing for your business (both as franchise owners and primary producers) e.g. bad debts, financial loans, maintenance costs, mortgage interests, equipment costs, capital assets depreciation, factory and production costs, transportation and freight investment costs etc.
Itemized deductions and government credits are available for charitable contributions, dependent care, leasing costs for resources, financing assets, hiring purchase arrangements, small business health care, and use of renewable energy vehicles.
Learn more about relevant deductibles and afford your best savings yet!
Allowable Work Deductions
Expenses incurred in running a business, either as a corporate entity or as a sole trader are classified as Allowable work deductions. Please be advised, that any private, domestic, or personal use of shared assets are exempt from deduction benefits. Some of the deductions you may claim are:
- Safety gears and Protective uniform – Purchase costs for safety gears and protective uniforms for professions with potential health hazards (exposure to harmful chemical, biological infection, radiation), physical demands (construction sites), are all eligible for deduction claims. Protective eye wear, bunny suits, safety helmet, industrial boots, and gloves are some examples of permissible deductions.
- Motor Vehicle Expenses – Cost of maintenance, fuel, reparation, and allied investments on motor vehicles used for small business transportation, client meetings away from conventional workplace, visiting customers, or professional education can be used towards deductible credits. Heavy vehicles used for freight transportations and cargo shipment like tractors, trailers, and cranes are not eligible.
- Traveling allowance – Legal allowances are made for exceptional scenarios like: business related commute to a different workplace, work from home, travel to client location in same tax zone, cost of heavy equipment carriage – either for security concerns, or for in-situ client occupation.
Expenses towards taking classes, purchasing educational material (software, paid tutorials), attending seminars or conferences, and any other self-education and training augmenting vocational skills or earning potential may qualify as deductions. Any travel (to classrooms, training centers) or investment towards third-party services used to procure the above may also be allocated towards these deductions.
Home office expenses
Part of your residence, when used towards business operations, can be used for home office expenses. These are applicable to all kinds of homes, including benefits for renters, owners, or partial allocations. ATO arbitrates two accordant options:
- Running Costs – All maintenance and reparation costs incurred for daily operations like gas, water, electricity, cleaning services, furnishing costs, depreciation on professional equipment etc. are deductible. Furthermore, professional communication requirements like high-speed internet, telephony unit, and any other device and gadget costs are broadly accepted as running costs. The comprehensive list of viable deductions is determined on a case-by-case basis.
- Occupancy expense – all ownership and residency costs including rent, mortgage interest, property taxes, home-owner’s association fees, and other ancillary expenses on home-office locations are included.
The following factors would determine your tax obligations for Marginal Rate of Tax –
- Type and Source of Income
- Residency status
- Fiscal year
Complex Tax considerations
City Tax Accountants’s tax agents in North Sydney are vastly experienced leaders in their area of tax and accounting expertise. They can collaborate with you on a variety of complex tax considerations like:
- Land Tax
• Foreign Land Tax
• Fuel tax credits
• Goods and services tax (GST)
• Luxury car tax (LCT)
• Payroll tax Preparation
• Lodging notices, objections, statements, applications, or ancillary financial documents
• Salary packaging
• Taxation advice
• Tax concessions
• Depreciation schedules
Reducing Compliance Costs for Small Business
The current Taxation Laws have taken into consideration the impact of compliance costs on small business. In some instances, and under previous regime’s, these were simply non-affordable.
The Small Business Entity (SBE) Framework aims to reduce these costs. It provides a series of concessions for Small Business – for example –
- Income Tax Off-Set from the 2015-2016 Income Year, where the Taxpayer is an Individual;
2. Simplified Stock Trading Rules;
3. Immediate (and in advance) payment of deductions for Prepaid Business Expenses up to 12 months in advance;
4. Simplified Capital Allowance Rules (low cost depreciating assets, pooling depreciating assets, profits on sale of depreciating assets)
5. Immediate (and in advance) payment of deductions for some “blackhole” expenses – we will examine whether this applies to your business;
6. Accounting for GST on a cash basis and paying GST by quarterly instalments;
7. CGT Small Business Concessions
Optimize your Assessable Income
Business owners, sole traders, and corporate entities in North Sydney area trust our tax advice on improving their return on investment (ROI).
In addition, we offer tax refund North Sydney and accounting service for start-ups in the region to register an ABN, procure government tax breaks, and receive endowments.
We collect information regarding:
- Business category – brand, features, and trade attributes
- Business size – employee count, yearly turnover, capital expenses, operations, and geographical footprint
- Business accounting methods and affiliated overhead costs
Estimate your tax-deferred contributions, tax liabilities, and obtain the largest tax refund North Sydney with our individually customized accounting plans. We leverage cutting edge technology and financial software to research, compare and refine your business processes vis-à-vis contemporary market requirements and imminent financial trends.
Claim the plum deals for ‘low-interest’ business funding, highest refund North Sydney you’re entitled to, and let your savings prosper today. Our customer service team analyze your income stream and reveal who your top clients are, so you can focus your business strategy and further your financial gains.
With City Tax Accountants North Sydney at the helm of your tax and accounting management, you don’t pay for the services, you pay for the peace of mind!
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