Late tax returns in Sydney are definitely one of our specialties no matter how late your tax return is or how many there may be. There are often valid reasons why there are overdue tax returns. We have time saving ways to assist you in getting up to date AND keep you up to date.

How to get Late Tax Returns up to date

A common error many people make is that they just don’t know how to prepare their records. It is seriously a major common problem. People waste an incredible amount of valuable hours thinking they have produced records that can be used. More often than not the records that are produced could have been produced in a much more efficient manner. The ATO can issue Fines and Penalties for Late Tax Returns which we can discuss to see what action could be taken.

What Records are required for a Late Tax Return in Sydney

It varies as to whether it is personal, a business or a mixture of both.

Personal Tax Return

1. Payment Summaries (also referred to as Group Certificates) from all employers
2. Bank interest
3. Shares, statements from all shares owned including any Employee scheme
4. Rental property income & expenses
5. Any work related expenses
6. Medicare exemption certificate
7. Medical expenses: out of pocket expenses (amount after reimbursed from\medicare and/or healthfund) over $1,500 prior to 2011 and over $2,000 in 2011. (includes – hospital, optical, dental, physio, prescription medication, chiro)
8. Copy of last year tax return (Individual requiring amendment or business client changing accountants)
9. All receipts for expenses relating to the work you performed

Business Tax Returns

1. Last lodged Tax Return for the businesses, depreciation schedule (if they have been lodged)
2. Data files such as MYOB, QuickBooks or access to cloud based software
3. Bank & Credit Card statements with business expenses
4. Receipts: To support claims
5. Business Loans or leases: Provide bank statement showing annual interest
6. Business expenditure from your personal accounts

Save time in processing your data for BAS and or Tax?

We can advise you on ULTRA fast ways to process your data accurately and save you time and money. We have a range of options including advice on the appropriate trading structure which could be a Sole Trader, Company Incorporation, Discretionary/Family Trust or Partnership.

What paperwork should you bring with you?

Here is a list to get you started it is by no means everything. It is only a mini guide, we will ask you further questions on the day if needed.

1. Payment Summaries (also referred to as Group Certificates) from all employers
2. Any bank interest
3. Statements from shares owned
4. Rental property income & expenses
5. Any work related expenses
6. Medicare exemption certificate
7. Medical expenses: out of pocket expenses (amount after reimbursed from\medicare and/or healthfund) over $1,500 prior to 2011 and over $2,000 in 2011. (includes – hospital, optical, dental, physio, prescription medication, chiro)
8. Copy of last year tax return (Individual requiring amendment or business client changing accountants)
9. All receipts for expenses relating to the work you did for example:
   a. Specific work related clothing
   b. Anything you unsure about just bring it along or ask us on the day
   c. Dry Cleaning

What proof of expenses do I need?

1. Paper Receipts
2. Credit Card, Bank and Debit Card statements are acceptable

Superannuation claim back when leaving the country permanently

Late & Overdue Tax Returns and or BAS’s

If you are Late or Overdue with your Tax Return(s) and or BAS’s and worried or stressed about this, we will help you no matter how far you are behind. We’ve helped people that were 18 years behind and with over 50 monthly BAS’s outstanding.

We are specialists in sorting out the mess (no matter disorganised) and giving you easy ways to keep up to date in the future. We will give you stress relief. The sooner you come to us the sooner you will have that burden lifted off you. Better still we don’t judge we find the solutions and do our best for you.

No Hidden Fees or Commissions

Our fees are Tax deductible. We have No hidden fees and No Commissions are charged on your tax return.