What You Need To Know About Tax Returns Australia – How To Make The Most Of Your Tax Returns Geraldton

It’s that time of the year again, the tax season is almost here. Though, it’s still a few more months away, it would be good to look into your tax returns Geraldton as early as now. This way, you don’t need to stress yourself out and spend lots of time preparing and lodging your tax returns Australia.

Do you need to lodge your tax return this financial year?
But before you go ahead and file your tax return, you first need to know if you really do need to lodge a tax return for financial year 2013-2014. Here’s a list of things you need to be aware of and understand:

1. If you were an Australian resident during the financial year 2013-2014, and you paid under the PAYG (Pay-As-You-Go) instalment or withholding system, you need to file a tax return.

2. You also need to file a tax return if you had tax withheld from payments made to you.

3. If you made less than $18,200 in a year, you don’t need to file your tax return. This is because you are subject to 0% tax rate if you have reach this tax-free threshold.

4. However, if you are eligible for the pensioners and seniors tax offset, you might still need to file your tax returns Geraldton.

There are other levels of income that apply to different people in other situations, in which you don’t need to lodge. Income and offsets are not the only reasons why you need to lodge your tax returns Australia.

The list is too long to discuss them all here. If you’d like to learn more, you can see the full list on the Australian Taxation Office website. Alternatively, you can consult with a registered tax accountant so you can find out how you can make the most of your tax affairs.

What are the ways to lodge a tax return?

There are currently four different ways you can prepare and lodge your tax return. Finding the best method would all depend on how complex or simple your tax affairs are. Here are the ways to choose from:

1. Phone lodgement
This is a fast and convenient way of lodging your tax returns Geraldton as you only need to spend more or less 12 minutes to do it. The good news is that it’s available 24 hours a day, 7 days a week.

2. Tax packs
If your tax affairs are complex and you are not expecting to receive any tax refunds, the tax packs from the ATO office is a good option. This is a printed version of the tax returns Australia forms which you need to fill in and complete.

3. E-tax
This is an online tax facility provided by the Australian Taxation Office for taxpayers who have straightforward deductions – and for those who want to lodge their tax returns within the comfort of their own homes or even office.

4. Tax accountants
When you find a credible, reputable, and trustworthy tax accountant – you don’t need to spend your precious hours or days preparing and lodging your tax returns. You can leave it all to them, and you can have the peace of mind knowing that it’s done to your advantage, accurately, and on time.

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