Personal Taxation

KPA Accountants Tax & Business Advisors is a registered Tax Agent and our accountants are fully trained to provide you with best taxation services. Our accountants will ensure that you get best tax return that you are entitled to.

What will you need:

• PAYG Group Summary commonly referred to as Group Certificate.
• Detail of Interest Earned on any saving account.
• Payment summary for Centrelink payment such as Newstart allowance and youth allowance.
• Share dividend received.
• Rental property details.
• Details of any capital from sale of assets such as rental property and shares.
• Income received from other countries.

Deduction you can claim:

When completing your tax return, you’re entitled to claim deductions for some expenses, most of which are directly related to earning your income.

Work Related Expenses:

To claim work related deductions

• You must have spent the money yourself and were not reimbursed.
• It must relate to earning your income.
• You must have a record to prove it.

If the expense was for both work and private purposes, you can only claim a deduction for the work-related portion. Work expenses reimbursed to you by your employer are not deductible.

ATO can seek information from your employer if ATO think you have claimed a deduction for an expense that you have already been reimbursed for.

You may be able to claim a deduction for expenses that relate to your work, including:

• Vehicle and Travel Expenses.
• Clothing, Laundry, and dry-cleaning expenses.
• Payment summary for Centrelink payment such as Newstart allowance and youth allowance.
• Home Office Expenses.
• Self-education Expenses.
• Tools, equipment’s, and other assets.
• Other work-related deductions.

Other Deductions:

You may also be able to claim deductions for:

• ATO interest – calculating and reporting.
• Cost of managing tax affairs.
• Gifts and donations.
• Share dividend received.
• Interest charged by the ATO.
• Interest, dividend, and other investment income deductions.
• Personal super contributions.
• Un deducted purchase price of a foreign pension or annuity.

Rental Property:

At KPA Accountants, Tax & Business Advisors we have the right expertise and experience to assist our clients in a variety of areas in relation to residential and commercial property. There are many pitfalls when deciding to purchase a rental property and it is vital that you receive sound advice so that you can make right decision based on your own unique circumstances

We offer our clients advice on the following:

• Purchase and sale of a property.
• lease agreements.
• Advice on funding.
• Tax minimisation.
• Capital Gains.
• Negative Gearing.
• Asset Depreciation.
• Ownership structure.
• Periodic reviews to ensure returns are maximised.

Contact us today to speak to one of our Rental Property experts to discuss your situation and receive an advice that is right for you.