Arrowhead Tax Accountants
Certified Practising Accountant

Individual Tax Returns

individual income tax return preparation and lodgement

For individual tax returns, we specialise in navigating the intricacies of personal tax obligations. Our goal is to maximise every eligible deduction and credit while ensuring strict adherence to current tax laws.

Whether you have a simple personal tax return or own rental properties or other types of investments, we take the time to meticulously review your information and carefully prepare your tax return. Our detailed approach ensures that nothing is missed, ensuring you receive the maximum tax refund you are entitled to.

types of individual income tax returns

For individual taxpayers, navigating the complexities of personal tax obligations can be daunting, especially as tax laws seem to change every year. That’s where we come in. Our expertise lies in keeping up to date with these changes.

The types of individual tax returns we prepare range from simple salary and wage tax returns to more complex ones. This includes sole traders, as well as returns with trust and partnership income allocations. It also includes individual tax returns with rental properties, capital gains, shares, and dividends, employee share schemes, and employment termination payments. With our qualifications, skills, and experience, we know how to optimise your tax outcome and minimise your tax liabilities.

information need to prepare individual tax RETURNS

The information we need to prepare an individual tax return depends on many factors. However, here is a general list:

INCOME

  • PAYG payment summaries (formerly known as group certificates)
  • Rental property income
  • Dividend and interest income
  • Annual tax statements from managed trust investments
  • Centrelink payments
  • Sale of shares, property or business
  • Foreign income
  • Business income

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arrowhead tax accountants

DEDUCTIONS:

  • Work related deductions
  • Donations
  • Rental property expenses
  • Private health insurance
  • Income protection insurance
  • Home based business expenses
  • Amount of any HELP debt
  • Investment expenses
  • Any extra superannuation contributions

Note this list is not exhaustive but intended to provide you with a guide as to what type of information is needed to prepare an individual tax return.

Discover more about the services provided by
arrowhead tax accountants