Tax returns

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Individuals

 

Investors

Whether you invest in property or shares or something else, at HQtax we want to ensure that you receive the best possible return.

Book an appointment today for a faster refund.

Recent Property Tax Changes

Getting your investment tax just right just got more complicated. You can rest assured, knowing that we stay abreast of the tax deductions and concessions affecting your investments.

The government has recently narrowed the type of property deductions available to residential property investors. Our experts make sure you claim a deduction for all expenses you are entitled to, including:

  • Property agent’s fees
  • Depreciation
  • interest
  • Repairs & maintenance
  • Insurance
  • Council rates

If you own an investment property, we will ensure that the income and deductions reflect the ownership interest and market rates.

Purchase or Sale Records

We are open all year round, to provide advice on the tax effect of a purchase of a new investment or sale of an existing investment.  We can also maintain your Capital Gains Tax Register and store your records for safekeeping.

Reliable service

With over twenty years’ experience, you can rely on our knowledge and skills to get your return right.

Late Returns

Is your tax return overdue?

If your income was below the threshold and you are not entitled to a refund or if you lived overseas, you may only need to lodge a return not necessary advice form. If you are required to lodge overdue returns, HQtax can help bring your lodgment status up to date.

Fines and Penalties

The ATO recognise that sometimes people don’t meet their lodgment obligations on time, even with the best intentions. If your tax return is overdue, the ATO may apply a Failure to Lodge on Time Penalty (FLTP) and a General Interest Charge.  However, if you have a good lodgment history and there are special circumstances, the ATO may waive the penalty.

For individuals and small business with assessable income of less than $1million, the penalty is calculated at $180 per 28 days up to a maximum of $900.00. The interest is charged at the ATO’s relevant published rates. While the FLTP is not tax deductible, you can claim a tax deduction for the GIC.

What if I’ve lost my documents?

We are able to obtain certain income information from the ATO that is matched to your Tax File Number, including wages, government payments, bank interest, dividend income, and your Private Health Insurance payments.

HQtax can help you figure out what other information may be needed to complete your tax return and provide guidance as to how to obtain details of this information where necessary.

Expats & Foreigners

We currently have clients that are foreign investors and prepare non-resident tax returns on their behalf. We have worked with clients from all parts of the world, including: New Zealand, United Kingdom, Italy, India, the Philippines, Malaysia, Singapore and the United States of America.

If you need further assistance with your Australian Income Tax Return please contact us.