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Fintax Accountants provides tax return services in the inner city area of Sydney CBD and few other areas of Sydney Metro. Our close surrounding suburbs are Sydney, Surry Hills, Chippendale, Darlington, Redfern, Waterloo, Zetland and Alexandria. The important checklist are given below. For complicated tax return we ask the client to see us or contact us over the phone and we give a detailed checklists after discussing with the client.

TAX RETURN CHECKLISTS:

-Payment summary from work
-Bank details-Account Name, BSB and Account No.
-Drivers license/passport copy
-Bank interest earned amount
-Share/dividend statement
-Statement of income from any other sources
-Investment Property income and expenses summary
-Receipts of expenses related to work
-Private health insurance statement

BENEFITS OF OUTSOURCING YOUR BOOKKEEPING:

Business owners can be quite cautious about handing over their books to an outsider, but it can honestly be one of the most worthwhile business decisions you make. Your great at dealing with your business, why not let the bookkeepers deal with what they’re great at, it would simply free up your time to focus on your business.
You save money. You save on time and money, when you outsource because quality bookkeepers will have your reports timely and accurately handled, but also point out areas that you should focus on.
You get a team of experts. To manage your financials in line with compliance laws and then having them cross checked is quite a daunting task for an individual to do. When the job is outsourced, skilled professionals are readily available to complete and check each other’s work. Also, financials will still be produced seamlessly, even if an employee happened to resign. You’re essentially getting an entire staff of specialists, for the price of one.
You get systems. Technology updates constantly and there’s a risk of not being able to stay innovative and hurting your financials. Accounting software like, XERO and MYOB provide accurate and timely reports and outsourcing your bookkeeping ensures that it always stay up-to-date.
If you want to experience these benefits of outsourced bookkeeping and many more, contact us at FinTax Accountants on (02) 9698 2851 for bookkeeping services in Sydney and surrounding suburbs.

SMSF RULES HAVE CHANGED:

The ATO have made many changes this year so be sure to check which applies to you. While this covers the couple the main ones, make sure to seek professional advice and guidance so you’re not taken by surprise.
You can’t contribute as much to SMSFs. The caps are coming down for people over and under 50 to now only being able to contribute $25,000 per year from $30,000 and $35,000 respectively. Post-tax SMSF contributions will also now be capped at $100,000 instead of $180,000 and any money contributed over these caps will be treated as regular income by the ATO.
They are capping pension accounts. A $1.6million transfer balance cap has been introduced by the ATO and though it may seem high, a number of trustees that have been saving for years, will now be required to return their assets back into accumulation to remain under this new retirement limit.
There are only a couple of the mange changes the ATO has implemented and if you are in the Sydney and surrounding suburb area and need advising about SMSFs or your compliance give us at FinTax Accountants a call on (02) 9698 2851.

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