Your tax refund work will be managed by a partner and you will have access to our senior Tax Accountant

We package our ongoing fees into agreed fixed annual fee, covering all our work. They could be paid by taking the free from Tax Refund. Each of our Accountant Sydney CBD provides prompt telephone, e-mail and live support to our clients free of charge

City Tax Accountants Parramatta is the foremost tax accounting service provider for accurate, timely resolution to any taxation query or request of Parramatta residents. Our team of tax accountants Parramatta are vastly experienced in small business and individual taxation to help you navigate complex tax matters with ease. We offer broad spectrum taxation services to deliver a convenient, affordable solution for you.

WHAT DEDUCTIONS YOU CAN CLAIM

MISSION STATEMENT

We strive to deliver professional, personalised taxation services and advice in a wide array of financial and business needs. Armed with team of best personal tax agents in Parramatta area, we can advise you on small business tax, personal tax management, and link you to allied service providers and resources to help your financial decision-making.

PERSONAL AND BUSINESS TAX ASSISTANCE

Our network of experienced tax agents and CPA accountants have professional skills and expertise in personal tax advisory. We conduct comprehensive research of your personal circumstances to lawfully maximise your tax refund in Parramatta. With our expertise on your side, you can claim every entitlement available to your specific occupation and financial circumstances.

SERVICE DETAILS

Prepare and lodge your tax returns Parramatta with clarity on all applicable legalities. City Tax Accountants can assist you in identifying assessable income, all possible deductions, and offsets. Our accountants convey the complex tax matters like ATO case laws and rulings in simple terms, free of technical jargon, to help you understand and engage in the process.

Taxpayers who enlist services of a registered tax agent Parramatta are also eligible for extended lodgement dates. We will manage this process on your behalf.

As an independent contractor, small business owner, or a corporate employee you have several deductions you can claim – from obvious ones (like work related expenses) to more obscure ones (like rental property outlays). Invest in our services and focus on what you do the best.

You can utilise our taxation services for assistance with foreign income, land tax, fuel tax credits, goods and services tax (GST), luxury car tax (LCT), payroll, business activity statements (BAS), salary packaging, tax concessions and depreciation schedules.

Furthermore, we will review whether any of the following is applicable to your personal circumstances and explain what each of these tax offsets mean:

• private health insurance tax offset;
• low income tax offset;
• small business income tax offset; and
• spouse superannuation contribution tax offset.

Rest assured, we will claim every offset legally available to you.

INVEST IN ACCURATE, RELIABLE TAX SERVICE

We are committed to find a tailored solution precise requirements of a client. At City Tax Accountants we deal with every case as unique, discuss your specific requirements and prepare a customised quote without any hidden fees.

We proceed only when you decide to proceed with our services. And you don’t just pay the service fee, you invest in peace of mind that your taxes are managed professionally for the best returns.

• accurately identify you as a taxpayer using your tax file number and/or Australian Business Number (ABN);
• determine your reporting requirements and whether Pay As You Go taxation requirements apply to you/your business;
• explain income tax formula’s in plain English – if you cannot understand it, then we have not fulfilled our Company Mission Statement;
• determine what required to be included, can lawfully be excluded in relation to expenses, deductions and rebates;
• estimate the outcome – tax payable or refundable amount that you may expect;
• prepare a draft and work through this step by step with you;
• lodge your tax return Parramatta on your behalf when you are satisfied that all elements are understood and accurate;
• provide you with the Australian Taxation Office’s final decision (Notice of Assessment) and answer any quiries;
• advise you of your options regarding payments, amendments or objections;
• ensure that you are accurately advised of deadlines regarding appeals.

PROCEDURAL REQUIREMENTS TO COMPLETE YOUR TAXATION RETURN

There are several requirements in the process of lodgement of your tax returns Parramatta, and as your preferred taxation service agents, we ensure that you or your small business meets the requirements:

• signed Declaration on approved form;
• inclusion of all income and allowable deductions;
• lodgement of your return in approved manner.

AMENDMENT PROCEDURE AND DISPUTE RESOLUTION

You are entitled to:
• lodge an objection of Notice of Assessment issued by the ATO; and
• seek to amend a tax return.

City Tax Accountants will act as tax agent Parramatta on your behalf.

HOW TO UNDERSTAND YOUR OPTIONS WHEN IT COMES TO TAXATION

Depending on the circumstances, certain tax offsets and deductibles are available to some taxpayers, while others may be expected to use different tax rates. Factors like age, total earnings in the tax year, type and source of income, residency status, and marital status are all relevant and we will collect this information from you to prepare your tax returns Parramatta.

LATE LODGEMENTS

Various reasons may contribute to delayed filing of past tax returns – career obligations, academic commitments, family, or busy schedules. We respect your personal situation, and aim to allay your fears regarding late lodgement. We will explain what you can expect, appropriate details of possible financial penalties, and answer all your queries regarding efficient processing of your tax returns Parramatta.

We will walk you through this process, once again, to ensure that it is clearly understood and determine your taxable income in accordance with the ATO regulations. We adhere to professional conduct standards in delivery of our services.

DEDUCTIONS

Deductions are vital to accurate estimation of the taxable income. Our tax agents will advise you regarding general deductions (standard expenses you incurred in income generation process), specific deductions (apart from general deductions as allowed by Tax Law provisions – like capital costs, investment property expenses).

Examples of Allowable Work Deductions:

• motor vehicle expenses;
• travel between job locations;
• occupation specific uniform.

SELF-EDUCATION EXPENSES

Self-education expenses that either contribute to the client’s specific skill set in their current occupation or potentially result in greater income are usually tax-deductible. You may claim deductions for traveling to classes either from residence or workplace, educational materials est.

HOME OFFICE EXPENSES

The current allows two relevant deductible options:

• Running expenses – operational costs like gas, electricity, water, cleaning and maintenance costs, and depreciation on professional equipment and furniture. In addition, depending on specificity of the job you may apply for allowable deductions on high-speed internet, telephony unit, tools and other equipment. These is not an exhaustive list, and our accountants can determine the viability of your claims.
• Occupancy expense – rent, interest on mortgage and other ancillary ownership costs.

COMPLEX TAX CONSIDERATIONS

City Tax Accountants team is equipped with rigorous training to assist you with the following complex financial considerations:

• Fuel tax credits
• Land Tax
• Goods and services tax (GST)
• Luxury car tax (LCT)
• Payroll
• Salary packaging
• Tax concessions
• Investment properties
• Depreciation schedules

Reducing Compliance Costs for Small Business

The Small Business Entity (SBE) Framework aims to reduce these costs. It provides a series of concessions for small business – for example:

•  simplified stock trading rules;
• immediate deductions for prepaid business expenses up to 12 months in advance;
• simplified capital allowance rules (low cost and low value depreciating assets, pooling depreciating assets, deferrals on capital gains on sale of depreciating assets);
• accounting for on a cash basis and paying of tax by quarterly instalments;
• CGT Small Business Concessions.

City Tax Accountants can advise on, assist with and process any type of tax returns Parramatta . Contact us today, and get the top tax accountants in Parramatta area on your team!