Jun 062015
 

Tax Returns 2016 Header image with clock.

 

Prepare now for your 2016 Tax Return.

Lodgement date for Tax returns 2016 are approaching fast. It’s time to start thinking about your 2016 tax return. Contact us to find out what’s required.

Tax time 2016 is almost upon us.

Isn’t it amazing how quickly tax time comes around each year. It seems that no sooner is one tax return completed, lodged and processed by the Australian Tax Office than the next years tax return is coming due. Anyway, start gathering up your paperwork and give us a call.

Tax Returns 2016 : Start Early

To ensure your tax return is lodged on-time and includes all legitimate tax deductions contact us now to begin preparations early. A properly prepared tax return can ensure compliance with the tax laws and at the same time ensure that you pay only the minimum tax that you are legally obliged to pay.

For most people hardest part of getting around to their tax returns is just getting started ! Once the process is commenced it just gets easier, and the benefit of getting started early is that you have more time available to pull together the information needed to complete the return.

Tax Returns 2016 Documents.

For individual tax returns 2016 the list of paperwork you will need is not too difficult. We include the following as a guide for your convenience.

Your Tax File Number (TFN)

If you do not already have a Tax File Number you can apply for one from the Australian Tax Office here.

Your Income.

  • You will need a payment summary from each employer you worked for during the year.
  • Bank and other financial statements showing details of all interest earned during the year.

Your Tax Deductions.

We can provide further details of the type of tax deductions you are able to claim in your industry.

As a guide you will need Tax Invoices for any deductible expenses claimed in your tax returns.

Details of any Private Health Insurance.

We need details of premiums paid. Your insurance company will usually send you an annual statement with these details.

Income From Shares and Other Investments.

If you held shares or invested through a managed fund during the tax year you will need to provide us details of your investments, such as:-

  • Buy and sell contract notes to work out any assessable capital gains or losses.
  • Dividends earned from your dividend statements.
  • A tax summary from any managed funds in which you invested during the year.

Other Income and Expenses.

Contact us and explain your individual circumstances and we can advise you of the information we need to fast track your tax return/ tax refund.

For all Central Coast tax returns Call us today on 4360 2836.

 

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