We invite you to gather your documents for the 2017 financial year and make an appointment to see one of our friendly and qualified team members. We will do our best to make the process as productive as possible and achieve the best result we can for you.
To help you get ready, here’s a checklist of some common items that you may need to compile and bring to your appointment:
• PAYG Payment Summary
• Details of any bank interest
• Dividend payment details
• Rental property details
• If you have bought or sold property or shares, please bring in details
• Private Health Insurance statement
• Tax Statements for managed funds
• Work related expenses, such as uniforms, union fees, subscriptions
• Income protection insurance premiums
• Motor vehicle expenses, if you used your car for work purposes (including log book)
• Any donations over $2 that you made to a registered charity
• Medical expenses: This tax offset can only be claimed in the 2017 year if it was in your tax return for the 2016 year. It is also being phased out completely over the next 3 years and the rules have changed significantly. From 1 July 2015, the offset can only be claimed by taxpayers with net expenses for disability aids, attendant care or aged care. The offset is now income tested as well. Lower income earners must incur net medical expenses of more than $2,299. High income earners must incur net medical expenses of more than $5,423. Please feel free to discuss this with us.
• Details of your BSB and Account Number for any refunds to be deposited into
If you are expecting a refund the ATO will only accept tax returns lodged with details of a bank account inserted (BSB and Account Number) as they are no longer issuing cheque refunds. Should you wish for your refund to go directly to you, we will require our fee for completing your tax return to be paid in advance. If you are unable to pay on the day of your interview, you may have the fee deducted from your expected refund by signing an authority, however this will incur an extra processing fee.
We encourage you to take advantage of the discounted rate by paying on the day. Please bear in mind that the quoted fee is for a standard Income Tax Return, which usually consists of PAYG Payment Summaries, interest income and some work related expenses. More detailed Income Tax Returns would consist of items such as Rental Property Income, Capital Gains Tax (CGT) events, Share Dividends and other complexities, and may incur a higher fee.
Now is also a good time for you to revisit your personal or family budget and make sure that you have plans in place to grow your wealth or to protect your family if something were to unexpectedly happen to you. So, we’d like to offer a complimentary session with a member of our financial planning team to review your situation. If you’d like to take up this offer, just let our friendly receptionist know when you book your tax appointment.
If you are planning to buy a property or vehicle, you can also use your appointment to have a chat with our Independent Lending Manager who can help find a loan that’s right for you.
When you phone to arrange your tax return appointment, we’ll let you know which experienced accountant will be looking after you. You are welcome to ask for your preferred accountant and if they have availability we’ll do our best to line them up for you, otherwise we’ll select an experienced accountant suited to your individual needs. To make your appointment/s, please contact the BMO team on 07 4662 3722 or email us here>>