Since tax returns cover the financial year which will end in 30th June, and your tax return is due this 31st October – you need to prepare all the boring bits of tax returns Kalgoorlie now. The earlier you are prepared, the better. This way, you can maximise the tax refund that will go back in your pockets – that is if you have paid too much tax and you are entitled to a refund.
There are three ways to prepare and lodge your tax returns:
- Use e-tax (a tax return online tool)
- Mail a paper return
- Use a registered tax accountant
What You Need To Prepare
Whether you are hiring a tax accountant, using the help of your family or friends, or sorting things on your own to lodge your tax returns – there are documents that you still need to gather before you can complete the process.
E-Tax Pre-Filling Service
If you are looking to use e-tax, you can take advantage of Australian Taxation Office’s pre-filling service so you can simply download some of your information.
Payment Summaries
You need to prepare each and every payment summary you have received from your employer or payer throughout the financial year. These payment summaries will reflect how much you have received and how much withheld tax was made.
Financial Records
Financial documents are needed to work out the amounts that you will enter at each item on your tax returns Kalgoorlie. Even with the help of tax accountants, you will still need to prepare these important documents for them to work from.
Tax File Number
To complete lodging tax return online, through mail, or using a registered tax accountant – you need your tax file number. If this is your first time, you need to apply for one.
Electronic Funds Transfer Data
When you are using electronic lodging of tax returns, and you are expecting a refund – you need to prepare the details of your Australian bank account, as well.
If you are going to use a registered tax accountant to help you in preparing your tax returns Kalgoorlie, you can normally lodge later than 31st of October. You need to consult with your tax accountant first to see if you qualify for such dates for lodgement.
There are many tax accountants in Kalgoorlie who can help you with your tax returns lodgement, and even assist you if you prefer to do the your tax return online. You just need to spend some time doing some research, and finding out whether they are reputable and credible or not.