As the financial year draws to a close, it’s time to ensure a smooth and efficient tax filing process. At Butler, we are dedicated to providing comprehensive support in preparing your tax return for the 2023 financial year. Here’s what you need to know to get your tax sorted:
- Gather Essential Documents: Collect all relevant financial records, including bank statements, invoices, rental income details for investment properties, and receipts for deductible expenses.
- Single Touch Payroll (STP) Finalisation: Employers will finalise STP reporting with the Australian Taxation Office (ATO) by July 14, 2023. As a result, employees are no longer required to obtain payment summaries. This will ensure accurate reporting of your wages, tax withholdings, and superannuation contributions.
- Investment Properties: If you own investment properties, provide us with income and expense details, including rental income, property management fees, repairs, and loan interest payments. This enables us to accurately calculate your rental property deductions.
- Capital Gains Tax (CGT): Maintain records of asset purchase and sale transactions, such as shares or property. We’ll assess your capital gains or losses and assist you in completing the necessary CGT schedules.
- Maximise Deductions: Our experienced team will work closely with you to identify all eligible deductions specific to your occupation or industry. We’ll explore various categories, such as work-related expenses, self-education costs, and charitable contributions.
- Efficient Communication Channels: Choose your preferred communication method—whether it’s scheduling an in-person meeting, securely emailing relevant documents, or utilizing our online portal. We’re here to accommodate your preferences and streamline the process.
By partnering with Butler, you can be confident that your tax return will be accurately prepared, maximising deductions while adhering to tax regulations. Contact us today to schedule your consultation and experience a stress-free tax filing process for the 2023 financial year. Let us handle your tax affairs, empowering you to focus on what truly matters to you.