Here are some issues and recent changes to be aware of when collating your 2017 tax information:
Here is our 2017 checklist for Individuals to assist you in preparing your 2017 tax return
Have a plan before the 2018 year kicks off – if you are not the best at keeping track of receipts and pieces of paper in an orderly fashion, perhaps an app might prove useful?
The ATO's official app is free and is aimed at individuals/sole traders and small business owners - it allows access a range of tools, calculators and information in a single online location.
Useful tools include:
Start off the 2018 Financial Year off with the best possible start by taking steps to prepare the new financial year – no matter if you are a new business, a growing or mature business.
The Australian Tax Office has offered the following tips for small businesses to prepare for the new financial year:
Businesses with a tax debt greater than $10,000 will have the debt reported to credit reporting bureaus from 1 July by the ATO. This may affect a business's credit rating and their ability to obtain future finance in an attempt to increase the transparency of tax debts throughout business circles.
Should the measure get through the parliamentary process, it will also provide opportunities for businesses to vet their customers' tax credit history. Credit check providers can help a business rely on the ability for larger customers to pay debts on goods and services provided. Find out more…
In our free market 'The Customer is King' with the customers right to choose being indisputable. You may choose to service your own car rather than go to a qualified mechanic? You may choose to google your symptoms rather than consult a GP? You could lodge your own return via myTax? - but before you make that choice, it is important to arm yourself with knowledge and consider the many advantages of using the services of qualified professionals before choosing DIY methods.
The advantages of using a tax agent like Walsh Accounting are:
Please be aware of phone calls from scammers falsely claiming to be from the ATO and telling you that owe the ATO money and that if they do not pay immediately there is a warrant out for their arrest. A variation on this scam is a call from a person saying they are from the ATO and you have a tax refund and that you need to make a money transfer to pay for the 'taxes' to release this refund. The variations of this scam are many and they spin a range of different stories all in the hope that you will provide them with your personal information, bank account details or demanding immediate payment.
Please be aware of any phone calls, suspicious emails or SMS messages.
The ATO will never:
If you receive a suspicious phone call, email, SMS or letter claiming to be from the ATO hang up and do not respond. If in doubt please contact Walsh Accounting, call the ATO on 1800 008 540 to verify or report the scam via Scamwatch
In addition, our web practice offers you interactive services.
Perhaps you run out of time during normal business hours to call us for an appointment...why not schedule an appointment using our special online form? You can access this form any time of the day or night and with the easy to follow instructions, you'll find it a quick and simple way to request an appointment time. Click here to book an appointment.
As we respond to feedback from you and our other clients, we will continue to add further information and interactive services to our website.
Make sure you like our Walsh Accounting Facebook page to hear from us on a more regular basis - where we will share a mix of both fun and informative posts.
Lionel and Tony will be regularly blogging about issues, important and otherwise. Check out Tony's recent blog on the importance of tax planning.
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Should you not wish to receive our regular newsletters please unsubscribe below. If you have any questions, comments, suggestions, please don't hesitate to contact us at any time. We look forward to hearing from you.
Kind Regards
The Team
Walsh Accounting
www.walshaccounting.com.au
Office Location
68 Ash Street, Barcaldine QLD 4725
Postal Address
PO Box 104, Barcaldine, QLD, 4725
Phone: 07 4651 1341
Email: admin@walshaccounting.com.au
ABN:
59 330 650 357
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