The preparation of income tax returns and other tax returns like BAS, STP and PAYG Instalments is a core function of Westcourt. The considered and timely lodgement with the Australian Taxation Office for many people is (hopefully) the only form of communication that a focused business family has with the ATO.
And this focus applies from individuals, SMSF’s, trust, partnership and company returns – be it a standalone position or a large corporate family group.
At Westcourt, we are committed to timely and clear communication with the ATO. Getting forms lodged on time every time to avoid penalties is important. And identifying how much a family has to pay and when to pay is the bedrock of being financially stable.
If you are continually getting fines for late lodgement, it isn’t easy to succeed. We understand that tax return preparation is not particularly exciting for many – but it is essential. And it is crucial in such a way that when things are done poorly, it is often too late to correct and fix them.
So it is for this reason, we do not consider the preparation of tax returns and communication to the ATO as a redundant service. Your entire tax strategy is condensed into the tax return. So, the tax return implicitly contains tax advice about the investment and business activities. The ATO’s first focus is on the lodged tax returns and the tax return preparation process engaged by the tax agent.
We also give written tax advice to every client who engages Westcourt to prepare the income tax return. Even if the tax advice is that the return has no contentious items, we will make sure that it is documented before you lodge the tax return.
Engaging Westcourt is a smart move to assist with preparing and managing your tax returns because, for Westcourt, it is our primary business. As an independent firm, we do not use tax returns as a “free” throwaway service to cross-sell your other products like insurance or more lucrative services. Our technical expertise and singular focus allow us to collaborate with true professionals in their field. This allows us to focus on the tax advisory, tax structuring and tax returns for a family, their investments and the family businesses they control.
If you look at our technical expertise – together with our leveraged technology to streamline the process, the decision to engage Westcourt to prepare your tax return, BAS, IAS and other government forms will be a smart one – call us today.
Lodging a tax return in Australia typically involves the following steps:
An Australian tax agent is a professional who is registered with the Tax Practitioners Board and has the necessary qualifications and experience to provide tax advice and prepare tax returns on behalf of individuals and businesses. Tax agents can help you with a range of tax-related matters, including:
In short, a tax agent can provide a wide range of services to help you with your tax affairs, making it easier and less stressful for you to manage your tax obligations.
To claim tax deductions in Australia, you’ll need to provide evidence of the expenses you incurred in order to receive income. Here are some steps you can follow to claim tax deductions:
It’s important to note that you can only claim deductions for expenses that you have actually incurred, and you must have evidence to support your claims. If you’re unsure about which expenses are deductible, or if you need assistance with your tax return, you may want to consider seeking the help of a registered tax agent.