Income Tax Returns

Don’t let tax time bring you chaos, stress and confusion! The professional team at Pembertown are here to ensure that tax season doesn’t ever have to be stressful; in fact, it can be the exact opposite. Forget the guesswork and trust that we won’t miss a thing and will always make sure to deduct every legitimate claim on your tax return to maximise your return. We offer competitive rates for our efficient services, which you’ll be happy to know are all tax deductible! We’re always happy to assist with all of your tax refund needs, even if it’s just a simple question over the phone.

We offer Preparation and Electronic Lodgment of the complete range of tax returns, including:

  • Individual Income Tax Returns
  • Partnership Tax Returns (with full set of financial statements)
  • Trust Tax Returns (with full set of financial statements)
  • Company Tax Returns (with full set of financial statements)
  • Self-Managed Superannuation Funds Tax Returns (with full set of financial statements)

We pride ourselves on providing the best quality tax refunds service. Our service is simple, quick and stress-free. In most cases, your tax document preparation can be completed in just one visit and at competitive rates. In other words, we promise to always save you money as well as your time! So ditch the headaches, maximise your return, and leave it to the professionals at Pembertown.

Tax Tips For 2016

  • Claim the Medicare tax rebate: If you got a credit for medical expenses in last year’s tax return, you’ll likely be able to claim the offset of up to 20 per cent this year (depending on your income).
  • Get some of your private health costs back: If you have private health insurance, you may be eligible for a rebate, depending on whether you pass the income test (less than $140,001 for singles and $281,001 for families). Most people tend to take the rebate as a reduction on the premium they pay to their insurer, the ATO says, but you can also claim it as a refund.
  • Salary sacrifice to super: If you haven’t hit your annual super contribution cap ($30,000 for under 50s and $35,000 for 50 and above), you may want to salary sacrifice to build up your retirement savings. Contributions are taxed at 15 per cent.
  • Pre-pay income protection insurance: As with investment loans for properties or shares, you can reduce your tax by pre-paying your income protection premiums a year ahead.
  • Claim your home office expenses: If you work from home, the ATO allows you to claim a deduction for your computer’s depreciating value and internet access. But be warned, it has to be a legitimate business. You have to prove one of the following to the ATO: income over $20,000, profit in at least three of the last five years, own land worth more than $500,000 or other assets of over $100,000.
  • Consider subscriptions: Many taxpayers forget that the cost of subscribing to trade journals in fields related to their work is fully deductible.
  • Donate: Any contribution you make to charity or a private ancillary fund above $2 is tax deductible. You can set up a private ancillary fund through a trust and then apply to the ATO to be endorsed as a deductible gift recipient.
  • Claim vehicle expenses: Do you use your car for a work purpose beyond travelling to and from your place of business? If so, you can deduct the cost provided you have a log book.
  • Claw back uniform maintenance: If your work requires you wear a uniform, you can deduct the cost of dry-cleaning.
  • Recoup some of your union fees: If you’re part of a recognised industry union, you can deduct the cost from your taxable income

Key Dates For Lodging Your Returns

Lodgment end date

Entity description

15 January 2016

Large/medium trusts (annual total income more than $10 million in latest year lodged) where the trust was taxable in latest year lodged.

28 February 2016

Large/medium trusts (annual total income more than $10 million in latest year lodged) where the trust was non-taxable in latest year lodged.

28 February 2016

New registrant large/medium trusts.

31 March 2016

Tax return for individuals and trusts whose latest return resulted in a tax liability of $20,000 or more (excluding large/medium trusts).

15 May 2016

31 October 2016

Tax returns for all remaining individuals and trusts not required earlier and not eligible for the 5 June concession (including new registrations).

Tax return for all individuals and trusts where one or more prior year tax returns were outstanding as at 30 June 2016.

Tax return for clients prosecuted for non-lodgment of prior year tax returns and advised of a lodgment due date of 31 October 2016.

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