What can our tax accountants do for you?
Expert Tax Accountants in Perth
Our team of tax accountants make the accounting process simple, so you can focus your time on doing what you do, better. Whether you need to lodge a tax return, start a business, or require on-going support with your accounts, we crunch the numbers and don’t let opportunities pass you by.
What our clients say
Taxpro always takes the time to explain everything to us so we fully understand how we are going financially and with this information we have been able to grow our business to what it is today.
What I really appreciated most, is I can simply text, email or phone any time if I need advice or support and the job was never too small or too complicated for Joseph and the staff at Taxpro.
Latest news
Stay up to date with all our latest news, guidance and regulatory information from our tax accountants here. We like to focus on the practical implications of changes to tax, insurance and financial planning legislation as well as offering insights on topical issues relevant to our clients.
Coronavirus impact – Government support for businesses is coming
The Federal Government has announced a $17.6 billion economic stimulus package in a bid to keep Australians in jobs as the economy takes a hit from the spread of Coronavirus. This includes tax relief for small businesses, business cash payments, family tax benefits, business investment incentives and money to help keep apprentices in work. Business support It is estimated $6.7 billion of the budget has been earmarked to help businesses weather the storm. Nearly 700,000 small and medium sized businesses across Australia will be eligible to receive up to $25,000 to help pay wages or hire extra staff, based on BAS lodged. However, if you are a sole trader and don’t employ anyone, you won’t receive any cash payments but will have access to business investment incentives. For example, the instant asset write-off threshold will be increasing to $150,000 from $30,000 and it is opening up to businesses with turnovers up to $500 million until 30 June 2020. It is hoped this will encourage businesses to spend on equipment and other investments, as they can claim a tax break for what they spend. The [...]
Individual tax lodgement date deadline approaches
Haven’t done your tax for this financial year ended 30 June 2019? For most, the last date you can lodge your individual tax return through Taxpro Australia is 15 May 2020 without incurring any penalty from the ATO. If you have not lodged your return yet, please contact your Taxpro accountant to book an appointment or to schedule a telephone interview at your earliest convenience. We do become very busy in the lead up to this deadline, so please book in early. We may already have the below documents for your appointment, the only documents we may need from you would-be work-related deductions/ receipts. PAYG payment summaries Bank interest Private health insurance What if I miss the deadline? The ATO may apply a failure to lodge (FTL) on time penalty. While its uncommon for an isolated case, they have increased the number of individual fines in recent years so don’t leave it to the last minute. To schedule an appointment give us a call on 08 9240 7629
Manage your receipts better
The ATO can audit at any time, any year Could you put your hand on a receipt from three years ago to prove a deduction if the ATO asked? Recently, this happened to a client. The ATO contacted us to do a random audit on an individual tax return from the 2017/2018 financial year. Even if the deductions do not amount to a lot in value, the individual has to provide all receipts. For example, this could be for workwear, fuel or computer equipment. We ask all clients to keep receipts for five years, however we know that receipts can get lost, shop receipts can fade over time and it can be a big administrative task if you are asked to provide evidence of deductions from years ago. Receipt management We would advise all our clients to use Receipt Bank, a system that automatically converts all your receipts into data making it easy for you to send your tax information straight to us. You simply have to take a photo of the receipt and upload it – this can by via the Receipt Bank [...]
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