Tax Store Canberra CBD

Tax Store Canberra CBD Tax Store Canberra is an Accounting firm that specialises in providing a large range of financial services for businesses and individuals.

20/07/2023

HOUSEKEEPING - Update

REMINDERS

1. Pre-fill Report - All finalized and updated ATO Pre-filling report must be uploaded in client's respective folders in OneDrive.

2. Working Paper - All working papers along with the supporting documents per tax return must be uploaded in client's respective folders in OneDrive. You can refer to this link for the templated workpapers: Workpaper.

3. One Drive – Please refer to this guide for the format of your folders in OneDrive: Folder System. Please also make sure to sync your devices to your OneDrive Cloud.

4. SLA - Please be informed of the respective SLA's per priority level.

As we all know that we are a professional organization, our operations are from Mondays to Fridays of the week. Therefore, tickets created during weekends will be added to the queue and will be reviewed and sent for lodgment the next business day under FIFO method.

Thank you!

📣 Calling all Australian small businesses!Before you lodge your tax return, remember:✅ To lodge your last quarterly BAS,...
20/07/2023

📣 Calling all Australian small businesses!

Before you lodge your tax return, remember:
✅ To lodge your last quarterly BAS, due 28 July.
✅ Lodge online and you may qualify for an extra 2 weeks to lodge and pay.
🚨 Catch up on any BAS due between 1 December 2019 and 28 February 2022 – by doing this you may be eligible for the small business lodgment penalty amnesty.

👨‍💼 Your BAS can also be lodged through your registered tax or BAS agent.

Kalinda is all ready for .But, as a newbie to the industry, she’s feeling a bit unsure about which deductions she can a...
20/07/2023

Kalinda is all ready for .
But, as a newbie to the industry, she’s feeling a bit unsure about which deductions she can and can’t claim.

🥪 Lunch? Kalinda can’t claim the cost of food, drink or snacks she consumes during her normal work hours. These are a private expense.

📱 Phone costs? If she’s required to use her phone for work, she may be able to claim the work-related portion of this expense. So, she needs to keep those phone bills handy!

👖 Snazzy new jeans she wears to work? Unfortunately, not. With a few exceptions, clothing can’t be claimed as a work-related expense.

To learn more about deductions, visit www.ato.gov.au/carers

Wondering how your tax return is going? You can check its progress by logging into ATO online services through myGov or ...
20/07/2023

Wondering how your tax return is going?

You can check its progress by logging into ATO online services through myGov or through the ATO app.

Once you’ve logged in you’ll see a status outcome letting you know where we’re up to:
🟠 Processing – we have your tax return and we’ve started processing it
🟡 Under review – we’re checking to make sure everything is right
🟢 Balancing account – we’re balancing your accounts with us and other government departments before we calculate your refund, or the amount you need to pay.

Remember, most tax returns take 2 weeks to be processed when you lodge online 💻

For more info, visit www.ato.gov.au/Individuals/Your-tax-return/Check-the-progress-of-your-tax-return/

You bought the renovators dream & fixed it up to get tenants in. Here’s what you can claim as initial repairs: 🧰 mainte...
20/07/2023

You bought the renovators dream & fixed it up to get tenants in. Here’s what you can claim as initial repairs:

🧰 maintenance – general wear and tear
🛠️ repairs – fixing or replacing something that’s broken
👷 capital works – improving the property.

Rev up your chances and drive away in style! Don't miss out on this incredible opportunity!Contact us to get a chance to...
07/07/2023

Rev up your chances and drive away in style! Don't miss out on this incredible opportunity!

Contact us to get a chance to win a brand new car! https://taxstore.com.au/contact

ch-ch-ch-changes! 🎵 There were lots of changes in the 2022/23 income year. Let’s recap a few:🏠 How you claim working ...
07/07/2023

ch-ch-ch-changes! 🎵
There were lots of changes in the 2022/23 income year. Let’s recap a few:

🏠 How you claim working from home (WFH) expenses has changed.
🚗 The cents-per-km rate for claiming car expenses increased.
📚 The need to exclude the first $250 of self-education expenses was removed.

So make sure you don’t ‘copy and paste’ your deductions from last year!

Visit www.ato.gov.au/whatsnew

We believe that tax advice should be accessible to everyone. Your language is our language at Tax Store!With a diverse t...
05/07/2023

We believe that tax advice should be accessible to everyone. Your language is our language at Tax Store!

With a diverse team of accountants proficient in multiple languages, we're ready to assist with your tax needs.

Find your nearest Tax Store location: 1300 367 594 or via https://taxstore.com.au/contact

Wondering if you can claim the main residence exemption?If you’re curious about CGT and the main residence exemption, we...
05/07/2023

Wondering if you can claim the main residence exemption?

If you’re curious about CGT and the main residence exemption, we’ve got you covered with our new factsheet. Find out all the info you need for a bunch of scenarios like:

🌳 Vacant land
🔨 Demolishing a house
🏘️ Subdividing
🌩️ Natural disasters.

Ready to level up your knowledge? Download the factsheet now at www.ato.gov.au/MREfactsheet

Meet Kalinda 👋She’s learnt from experience that it’s best to lodge your return at the end of July. Last year, Kalinda lo...
05/07/2023

Meet Kalinda 👋

She’s learnt from experience that it’s best to lodge your return at the end of July.

Last year, Kalinda lodged as quick as she could on 1 July. But some of her income amounts were wrong. The ATO contacted her to let her know they are amending her return. Worse still, she had to pay back some of her refund, with interest!

Kalinda’s friend Maya lodged her return on 24 July. Her income, government payments, and private health details had all been pre-filled. With no errors on her return, she received her refund in the first week of August.

Take a leaf out of Maya’s book - waiting to lodge can pay off.

Learn more at www.ato.gov.au/prefill

05/07/2023

Employ staff? Finalise their Single Touch Payroll (STP) data now. ⏰ The sooner you do, the sooner they can lodge their tax return.

📅 Employers need to make a finalisation declaration by 14 July. We recommend double-checking your STP information is correct before doing so.

Source ATO

Check out our updated tax tables! They include changes to withholding for study and training support loans.
05/07/2023

Check out our updated tax tables! They include changes to withholding for study and training support loans.

Address

16 Summerhayes Street
Canberra City, ACT
2913

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 5pm

Telephone

+61420423295

Website

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