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FAQ
Most frequent questions and answers
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What to bring for your Tax Appointment
Checklist
Income
- Photo ID (License or passport)
- Tax File Number / ABN
- BSB and Account number (for your Tax Refund)
- Income from employment
- Allowances
- Lumpsum and Termination Payment Summaries
- Government Payments (Centrelink payments such as parenting payments, new start allowance, youth allowance)
- Interest Income / Dividend statements
- Investment in Managed Funds (annual statements)
- Rental Properties Income
- Capital Gains (sale of properties/shares/crypto currencies)
- Foreign Income
- Business Income (ABN, ride sharing drivers)
- Income from any other source not listed above
- Health Insurance Annual Tax Statement
- Spouse Details including taxable and exempt income
Deductions
- Motor Vehicles (dairy for up to 5000 km or logbook)
- Travel (public transport, Taxi and accommodation)
- Uniform (compulsory or with a logo)
- Self-Education
- Union, memberships, subscriptions
- Tools
- Home office (4 weeks diary)
- Office/ computer suppliers
- Telephone, Internet
- Donations to registered charities/building funds
- Income Protection
- Other expenses not listed above
FAQ
Most frequent questions and answers
You can lodge a tax return lodgement by coming to our office, over the phone, by email
or online (Zoom). You can call on 02 4610 8737 or email us to book an appointment.
Most likely yes, but it depends on your situation. Give AIFA Accountants a call to discuss
further.
You are required to lodge your tax return by the deadline which is 31 October if you are
not on the lodgement program of a tax agent or have overdue income tax returns. If you
are on the lodgement program of a tax agent, your tax return is due on 15 th May.
Its very simple and easy. We can manage the process for you.
Click on here for a check list for income tax return.
Tax-returns-Narellan
Low- and middle-income tax Offset has not been extended. As a result, your
2023 refund maybe reduced by between $675 and $1500 (income $90 000-
$126000).
Temporary Full Expensing will end on 30 June 2023. The instant asset write-
off returns with a $20,000 threshold per asset from 1 July 2023 to 30 June
2024 for small businesses.
The shortcut method (80c per hour) is no longer available for the 2023 financial year. Taxpayers can apply a 67c fixed rate for each hour worked or the actual cost method. Click for more details
Blogs
Most frequent questions and answers
Small Business Asset Depreciations
Small businesses can deduct the full cost of eligible assets costing less than $20 000from 1 st July 2023 to...
Working from Home (WFH) Expenditure
To be eligible to claim a deduction for working from home: -You must be working from home i.e. fulfilling your...
Accrual Vs Cash Accounting
Should my business be based on accrual or cash basis? The difference between cash and accrual basis comes down to...
Why Choose Us
About Aifa Accountants
At AIFA Accountants, we have experience and proven knowledge to provide quality and personalised services to meet the demands and needs of your businesses. Our team of professional accountants are dedicated in providing our clients with personalised and proactive support to deliver consistent services to minimise your tax and achieve your business objectives. We specialise in providing services such as Income Tax Returns, Accounting, Bookkeeping, Business setup/restructuring and Self-Managed Superfunds.
Updates
2023 Tax Updates
Tax laws and regulations vary from country to country and are subject to change over time. To stay up to date with the latest tax updates for your jurisdiction, I recommend consulting official government sources such as tax authorities, tax professionals, or reputable financial websites that provide reliable and up-to-date information on tax laws and regulations.
Low- and middle-income tax Offset has not been extended. As a result, your
2023 refund maybe reduced by between $675 and $1500 (income $90 000-
$126000).
Temporary Full Expensing will end on 30 June 2023. The instant asset write-
off returns with a $20,000 threshold per asset from 1 July 2023 to 30 June
2024 for small businesses.
The shortcut method (80c per hour) is no longer available for 2023 financial
year. Taxpayers can apply 67c fixed rate for each hour worked or actual cost
method.
Customers reviews
Customers reviews