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I need a copy of my tax return?

As a service to you Munro SPAUL maintains records of your taxation returns for a minimum of 5 years. If you would like on-line 24 hour access to PDF copies of your past tax returns, we can provide this using our secure client area. Request secure client area setup here and we'll be in touch to set up your area soon.

If your require your 'tax assessment' rather than a copy of your tax return please contact us.

 

What is my tax file number (TFN)?

Your TFN can be found on many official documents related to tax including your tax assessment from the ATO, your PAYG withholding summary from your employer or your latest tax return prepared by Munro SPAUL.

As a pro-active service to our clients we offer a secure client area on our web-site where we will place a summary document outlining important numbers and dates for you. These can include your TFN and other important registration numbers. Request secure client area setup here and we'll be in touch to set up your area soon.

If you require your TFN immediately, please contact us.

 

When is my tax return due for lodgement?

By being registered for lodgement via Munro SPAUL you may have an extension to lodge your income tax return i.e. later than the 31 October deadline each year. Munro SPAUL receives a lodgement program from the ATO identifying when your return is due for lodgement.

As a pro-active service to our clients we offer a secure client area on our web-site where we will place a summary document outlining important numbers and dates for you. These can include the date that your income tax return is due to be lodged etc. Request secure client area setup here and we'll be in touch to set up your area soon.

 

Is my Notice of Assessment back yet?

Munro SPAUL lodges your tax return with the ATO as soon as it is received back signed by you. The ATO aims for a 14 day refund turnaround from lodgement and often betters that time.

As the ATO has changed its policy as of 1st July 2013, refund cheques shall no longer be issued. At your appointment or before finalising your Income Tax Return we require you to provide us with your bank account details in the event of a refund. Upon receipt of the ATO issued Notice of Assessment you have the option of having a copy emailed to you for instant access or mailed to your preferred postal address.

             

Tax Return Checklist 2015
          

Munro SPAUL has prepared a checklist to assist you in the compilation of information required when completing preparation of your Income Tax Return.

 Bring these documents with you if you have them.

 Income

·         PAYG summaries from employers.

 

·         Centrelink, Austudy, Pension, Eligible Termination Payments.

 

·         Income from business activities.

 

·         Superannuation withdrawal documents.

 

·         Bank Statements & Savings Books with interest entered for the tax year.

 

·         Distribution statement from trusts, partnerships and managed investments.

 

·         Dividend Slips (if any) and related deductions for the year ended 30 June 2015.

 

·         Annuities including allocated pension.

 

·         Foreign source income and details of any foreign tax credits.

 

·         Details of asset sales (e.g. shares and real estate), for Capital Gains Tax calculation.

 

Deductions

                ·         Receipts for all work expenses and deductions. NOTE: WORK EXPENSES SHOULD BE COLLATED & TOTALLED FOR EACH RESPECTIVE WORK EXPENSE. Example

                          include union fees, subscriptions, tools for work, work-related phone calls/ internet use , protective clothing/corporate uniform, work related travel.

                ·         Motor Vehicle log books for deductible work travel (provide motor vehicle receipts for cost of new vehicle, fuel, rego, insurance, service, lease payments).

                ·         Receipts for donations (greater than $2).

                ·         Expenses from Business activities.

                ·         Receipts for self-education (work related).

                ·         Income protection insurance premiums.

                ·         Tax agent fees and other accounting/ tax audit fees.

 Other information/ Offsets

                ·         Last year's Tax Return & Assessment.

                ·         BSB and Account number as all refunds will now be directly deposited into bank account.

                ·         Receipts for medical expenses (net medical expenses above $2,218 may be eligible for a tax offset for the year ended 30 June 2015).

                ·         The phase out of the offset will not apply for taxpayers with out-of-pocket medical expenses relating to disability aids, attendant care or aged care expenses which will be available

                          to 1 July 2019.

                ·         The Net Medical Expenses Tax Offset is repealed from 1 July 2019.

                          The offset is to be phased out by way of two sets of transitional arrangements. For these purposes the existing medical expenses that may be claimed have been placed into

                          one of two categories:

                           ·         Category A: From the 2014-15 income years until the end of the 2018-2019 income years: Taxpayers can only claim the Net Medical Expenses Tax Offset for medical

                                     expenses that both meet:

                                               ·  the current definition and eligibility requirements, and 

                                               ·  relate to disability aids, attendant care or aged care.

                          ·         Category B: For the 2014-15 income year:

                                               ·  Taxpayers will be eligible to claim the full range of medical expenses (as defined currently) but only if they have received an amount of the Net Medical Expenses

                                                  Tax Offset in both the 2012-2013 and 2013-2014 income years.

                                               · There is no claim in this category for 2015-2016 and beyond

                 ·         Any changes in dependants including children's details, dates of birth and any Centrelink benefits applicable. The income of your spouse also needs to provided.

                 ·         Details of Medicare Levy reduction or exemption.

                 ·         Health Insurance Statement showing whether rebate claimed or claimable – rebate is now Income tested.

                 ·         HECS/HELP details (if any) Financial Supplement Loan (if any).

                 ·         FOR RENTAL PROPERTIES:  Agent's statements & details of all expenses, interest, rates, levies, repairs, travel, etc.

 

 
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