Tax Return Preparation Checklist

As we’re gearing up for our busy period, we want to make sure your preparation for this year’s Tax Return appointment is easy and hassle free. From experience, providing the right paperwork, receipts and statement information is the key to ensuring you get the best out of your Tax Return appointment. With this in mind, our Accounting specialists have gathered together an informative checklist you can use as a guide.

Anyone can use our business or personal tax return checklists to prepare for their appointment – flag it in your inbox, bookmark it or even print it out. You can keep coming back to these guides, so you know what to bring to make your appointment run smoothly.

 

Personal Tax Return Checklist

Some important items to remember:

  • A copy of last year’s Tax Return
  • PAYG/Group Certificates
  • Receipts for claims/deductions
  • Self-Education costs
  • Private Health Insurance Annual Taxation Statement

Business Tax Return Checklist

Some important items to remember:

  • Back up or invite your Hrkac Accounting specialists to your accounting program
  • Capital purchase documentation
  • Payroll records

Download

 

Not all items on these checklists may apply to your return and you don’t have to bring these to your appointment, but they can be handy to keep on file for next year. If you are unsure about any of the items on the checklist, bring as much information as you can to your appointment, and we can help you know what is relevant to your tax return.


This year, The Hrkac Group is taking online bookings for Tax Return appointments. You can use the link below to book your appointment online or use the top right button on our website whenever you’re ready.

Top Tip 2019:

Although technology is helping us improve our taxation processes, we don’t always have online access to the most up to date information available.

It’s important to bring your Group Certificate to this year’s appointment so that we can work with the correct and most recent information (we can’t always access your certificates online.)

If you have any questions or would like to book your Tax Return appointment, please contact The Hrkac Group here.

 

Liability limited by a scheme approved under Professional Standards Legislation.

Follow our handy Personal and Business Tax Time Checklists to make sure you’re prepared.

So it’s that time of year yet again! If you are new to lodging a tax return or if you are a new Start-Up Business or Sole trader/contractor – even if you’ve been doing it for years – getting all of your financial documentation together can be a daunting task.

If you just don’t know where to start, the Hrkac Group are here to help. We strive to take the guesswork out of Tax time and have put together helpful checklists for both personal and business taxation clients, so that you can be confident that you have everything in order.

For those looking to lodge a personal tax return, here is a list of some of the items required by your registered tax agent:

  • A Copy of your previous years income tax returns (new clients only)
  • PAYG payment summaries Group Certificates
  • Dividends and other investment income
  • All Rental Property Information
  • Receipts for any possible claims/deductions including:
  • Motor Vehicle expenses
  • Any Travel expenses
  • Uniform purchases and Laundry costs
  • Self Education Costs
  • Any Work related expenditures
  • Tax agent fees paid during last financial year (new clients only)
  • Your account bank details for any refund
  • Any Gifts or Donations
  • Income Protection premiums paid
  • Private Health Insurance Annual Taxation Statement

For those of you running a business, here is a list of some of the items required by your registered tax agent:

  • Backup or invite your agent to join your Accounting program
  • (i.e MYOB/Reckon/Quickbooks/Xero)
  • Bank Statements for all business accounts including loan statements
  • Documentation for any new Capital purchases such as Motor Vehicles or properties
  • Trade Debtors listing as at the end of the period
  • Trade Creditors listing as at the end of the period
  • Detailed payroll records
  • Do you have any carried forward capital losses? If yes, how much

New clients will also need:

  • a copy of most recent years financials and tax returns
  • Previous accounting fees paid
  • Personal and business details

Download our Personal Tax Checklist or our Business Tax Checklist here!

If you would like to know more or to make a time to see one of our Geelong based Personal or Business Tax Specialists, feel free to contact the Hrkac Group today!

Follow our handy Personal and Business Tax Time Checklists to make sure you have everything in order.

So it’s that time of year again! For some it has become like driving a car or riding a bike, you just go into autopilot and you can get everything in order without breaking a sweat. For others, in particular those that are new to lodging a tax return or for a new Start-Up Business or Sole trader/contractor, it can be a daunting task. Where do you just don’t know where to start?

Luckily at the Hrkac Group, we strive to take the guess work out of Tax time, and have put together some helpful hints, so you know that you have everything in order.

For those looking to lodge a personal tax return, here is a list of some of the items required by your registered tax agent:

  • A Copy of your previous years income tax returns (new clients only)
  • PAYG payment summaries Group Certificates
  • Dividends and other investment income
  • All Rental Property Information
  • Receipts for any possible claims/deductions including:
  • Motor Vehicle
  • Any Travel expenses
  • Uniform purchases and Laundry costs
  • Self Education Costs
  • Any Work related expenditures
  • Tax agent fees paid during last financial year (new clients only)
  • Your account bank details for any refund
  • Any Gifts or Donations
  • Income Protection premiums paid
  • Private Health Insurance Annual Taxation Statement

For those who own a business, here is a list of some of the items required by your registered tax agent:

  • Backup or invite your agent to join your Accounting program
    (i.e MYOB/Reckon/Quickbooks/Xero)
  • Bank Statements for all business accounts including loan statements
  • Documentation for any new Capital purchases such as Motor Vehicles or properties
  • Trade Debtors listing as at the end of the period
  • Trade Creditors listing as at the end of the period
  • Detailed payroll records
  • Do you have any carried forward capital losses? If yes, how much

New clients will also need:

  • a copy of most recent years financials and tax returns
  • Previous accounting fees paid
  • Personal and business details

 

Download the version of our Personal Tax Checklist or our Business Tax Checklist here!

If you would like to know more or to make a time to see one of our Geelong based Personal or Business Tax Specialists, feel free to contact the Hrkac Group today!

What to look out for to ensure you’re not falling victim.

Have you received emails, phone calls or letters from the Australian Tax Office, demanding payments for outstanding tax bills using iTunes cards? Be careful, these could be part of a new sophisticated tax scam defrauding Australians.

Typically, when emails are used as correspondence, these emails contain links to fake websites that look remarkably genuine and may have attachments containing system-corrupting Malware or, in some cases, “Ransomware” which seeks payment for unlocking access to your own computer files.

Little can be done to stop scams such as these, with the criminals responsible often being based offshore and using techniques that are near-on impossible to trace by local authorities.

As your authorised Tax Agent, contact from the ATO about your taxation affairs should always come via our office. In particular the Australian Tax Office DOES NOT make phone calls soliciting payments for outstanding debt without first writing to taxpayers. Should you receive any direct contact purporting to be from the ATO, notify us immediately and we will work to verify it as genuine. Alternatively you can take matter up directly with the ATO in 1800 008 540.

Under NO circumstances should you pay an alleged Tax Debt without establishing its validity with us first.

Follow the link here to read the Tasmanian Police Media release. Follow the link here to read the Australian Tax Office Media Release.

If you have any queries or concerns or feel you may have been caught up in this scam, feel free to contact one of the Geelong based Tax specialists at The Hrkac Group.

Get in fast to ensure you receive the Tax Agents lodgement extension for your Income Tax Returns for the financial year ended 30th June 2014*.

If you notify the Australian Taxation Office (ATO) of your appointment of an Accounting tax agent before 31st October 2014, you may be eligible for the tax agent’s extension up until May 2015.

So there is no better time than now to lock in The Hrkac Group’s Taxation Services to look after all your Accounting needs.

*To be eligible for the tax agent’s extension, all prior years’ tax must be up to date.

Proposed reduction in Victorian Payroll Tax from 1st July, 2014 from 4.90% to 4.85%.

Geelong’s The Hrkac Group Accounting team are always up to date with our knowledge of the Victorian State Payroll Tax legislation. Geelong’s The Hrkac Group can help with your Payroll Tax needs including assisting with preparation of your annual Payroll Tax Returns due on the 21st July, 2014. With our excellent Taxation Services team you’ll be more than pleased with yourself that you choose The Hrkac Group.

Geelong’s leading Finance and Conveyancing team can also assist with reviewing your first home buyer finance eligibility. We can also discuss and assist with all your conveyancing needs to ensure you receive the maximum outcome.

Please don’t hesitate to Contact Us via e-mail or phone 03 5221 2355 if you have any queries.

Welcome to the year 2014! Well Financial Year anyway!

This time of year can be quite stressful for a lot of people but we are here to make things as quick and simple as possible!

Our dedicated team of Geelong Taxation Services professionals at The Hrkac Group Accountants is enthusiastic about what the new Financial Year can bring for our clients.

Our professional Taxation Services team can help with all forms of Taxation requirements including Personal Tax Returns, Business Taxation Returns and Self-Managed Superannuation Funds.

To ensure you get the best result possible for your Business or Personal Tax Return, please Contact Us now at The Hrkac Group Taxation Services and Tax Planning Team.

With the New Financial Year just around the corner, it is important to get your Tax Planning organised in order to maximise your time and money.

Some things considered when Tax Planning are Tax deferral strategies, Superannuation obligations, GST and Fringe Benefits Tax (FBT) advice, PAYG Withholding obligations, Salary Packaging, maximising refunds and minimising liabilities… and that’s just the start!

Our dedicated team of Geelong Taxation Services at The Hrkac Group Accounting division is eager to work with you for a smooth transition into the 2014 Financial Year! Please Contact Us now at The Hrkac Group.

Accountants Geelong – why you have found the right one

Are you looking for an accountant? If so, we believe you need a qualified professional who not only has all the financial nous necessary to provide financial services but someone who will listen. The HRKAC group provides clients with professional and empathetic accountants Geelong who are trained to deal with either domestic or commercial financial decisions.

A recent accounting article in The Age highlighted the main points to look out for when looking for an accountant. Your accountant should be able to provide for your current needs whether this is tax compliance, account and financials as well as your future needs. This is where your accountant needs to implement both a short-term and long-term plan. Your accountant should be qualified, professional, and have positive referrals either on a website or by word of mouth.

This is why we believe you have found the right Geelong accountant for you. We listen, we plan we work with individuals or businesses, we are proven professionals.

Geelong’s Financial Planning Specialists

The problem with most accountants is… they’re just accountants. And by that we don’t mean JUST accountants – we mean they only provide accounting services – nothing else.

Everyone, no matter whether you’re in business or an individual, should not see accounting as their only form of financial management.

Most of us have an accountant because most of us pay taxes and need to submit our tax returns to the ATO. But unfortunately, not everyone has a good Geelong accountant AND a financial planner, whose role is to help you achieve your future financial goals, not just go over what’s happened in the past year.

That’s the major strength of our organisation. The HRKAC Group can assist you with accounting services such as financial recording, taxation returns, and tax planning – and we can also assist you in thinking about your financial future with the help of our qualified, professional financial planners.

There are many investment strategies available for our clients regardless of their level of income because financial planning isn’t just for those with a lot of money sitting in the bank, it’s also about giving people on modest incomes strategies to get financially ahead for a brighter future.

So instead of just looking at your financial past, why not look at your financial future with the Geelong financial planners at the HRKAC Group.