Tax Return

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Help you minimise any possible tax liabilities.

We strive to help you minimise any possible tax liabilities, whilst remaining compliant with income tax laws at all times.

Capabilities

KMT Partners is a Chartered Accountant Practice providing a range of accounting, taxation, SMSF and business advisory services to clients all over Adelaide and South Australia. Our accountants are highly experienced and qualified to assist you with your tax and financial needs, whether you are an individual, sole trader or business.

Working within the legislative framework, and the regulatory expectations, we structure and advise on your affairs to meet all obligations whilst managing your tax liabilities.

Our tax services include:

  • Tax calculations and advice
  • Tax return lodgement
  • Tax planning & compliance
  • Tax saving strategies
  • BAS returns
  • Complex transactions

We also support you to comply with and decide concerning GST, Capital Gains Tax, Fringe Benefits tax, and employer administration of superannuation, WorkCover and Payroll tax.

When to lodge your tax return

Your employer has until 14 July to finalise your end-of-year Income Statement (formerly called a Payment Summary). You can check your myGov account to see if your Income Statement is available.

Please note that if we complete and lodge your tax Return before your employer has finalised your Income Statement, your employer may change it and then the ATO would have to amend your Tax Return.

Therefore, we recommend that you wait until after 14 July to lodge your Tax Return.

Information we need

Here is a summary of the information we need to prepare your Tax Return. Not all these items may be relevant to you, and after we meet, we may discover additional items that we need to request from you.

Income

  • Income Statement from your employers
  • Bank interest details
  • Dividend Statements
  • Capital Gains – sale of shares, sale of property, etc
  • Distribution statements from Trusts, Partnerships, Managed Funds, Investments
  • Foreign Income
  • Cryptocurrency transactions – We need to link your crypto wallets to our Crypto Client Management Portal to generate reports for your Tax Return (Note: after we have reviewed your crypto transactions we will provide you with a revised price for your Tax Return due to the extra work required for crypto transactions)
  • Uber driving / rent from AirBNB, Airtasker income, etc

Expenses

  • Motor vehicle expenses for business use – logbook required
  • Home office expenses – You need to complete our “Working from Home Diary Template”
  • Mobile phone and internet costs
  • Tools and equipment
  • Computer expenses
  • Work uniforms and clothing expenses
  • Travel and accommodation costs for work related travel
  • Courses, training and professional development costs
  • Income Protection Insurance premiums paid

Investment property owner

  • Rental Statement from your agent – 12-month summary
  • Depreciation Report
  • Loan Statements for Interest
  • Listing of other property expenses, including date paid, payee, amount and what the expense was for

Downloadable tax resources

It’s our job as your accountants to make the lodgement of your Tax Returns as easy and simple as possible.

Check out our tax planning guides to learn strategies and tips on how to minimise your personal and business tax from our Free Resources

Tax agent
74674002