eTax Return Checklist

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E-tax Return Checklist

With tax time not far away there are some things you can do to start getting ready to prepare your annual tax return.

Whether you prepare and lodge your tax return manually, use a tax agent, eTax or other online tax return preparation service, here are some quick tax time tips to help get you on the right track to get the best etax help and the best etax tax refund:
  • Assessable income - Assessable income is the starting point for all tax returns and includes all income receipts regardless of how it is taxed or whether specific Tax-Offsets apply. See this post for what is included in assessable income.
  • Allowable deductions - Allowable Deductions is where all the action is since they reduce the “taxable” income, the amount on which most tax calculations are made. The more deductions the bigger the tax refund.See this post for details of allowable deductions.
  • Investment Properties - While clients often use investment property to attain financial freedom, before stepping into investment property clients need to be informed about whom they will be dealing with and what they should expect from their accountant. See this post for details on investment properties.
  • Tax Offsets - A glance over the list of available “Tax Offsets’ in the 2013 tax return reveals the list is getting smaller. See this post for details of available Tax Offsets.
  • Medicare Levy and Medicare Levy Surcharge - You are only required to pay medicare levy or medicare levy surcharge if your "adjusted taxable income" is over certain thresholds and for surcharge, you are not covered by hospital cover in a private medical insurance fund. See this post for details of Medicare Levy and Medicare Levy Surcharge.
  • Adjusted Taxable Income (ATI) - From 1 July 2009 the ATO started using Adjusted Taxable Income (ATI) to calculate various tax offsets and obligations. Already in use by Centrelink, Family Assistance Office and Child Support Authority, the new measures replaced the old Separate Net Income test. See this post for details of ATI.

E-tax Return

See these posts with tips, calculators and checklists to help you prepare your eTax Return (and get a better refund) with less hassle:
Web Based Tax Return App:

A benefit of using eZtax, our web based tax return app, is we have the genuine online tools, knowledge and experience to get the best tax refund for our clients, making it easy to complete your annual tax return online.

Our Web Based Tax Return App will step you through all the necessary questions to increase your  tax refund and take into account all relevant tax deductions and tax offsets. Try it now. Its FREE to get started!

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