I was contacted last week by a couple who considered their tax affairs to be simple and so have always prepared their own tax return.
However this year their circumstances have changed.
Recognising that they should seek professional help, I am pleased to be meeting with them this week to go through their new situation and help them understand their current situation and the taxation impact.
My advice to these new clients, and to anyone seeing an accountant or registered tax agent for the first time, includes the following:
– bring all of your PAYG Payment Summaries (these used to be called Group Certificates) and details of any other income
– bring all of your receipts, no matter how minor you think the claim might be!
– if you purchased or sold assets during the year, bring all of the information (contracts, settlement statements and loan statements included)
– have your spouse details on hand (including full name, date of birth and income), you’d be surprised how many people don’t know their partner’s birthday!
– bring a copy of your latest lodged income tax return if possible
All of this will help you to help your accountant to get the best possible tax result for you.
If you’ve never seen an accountant before and you think it’s time you did, let us know via our Contact page, we’d love to hear from you.