Personal income tax

Personal income tax

Personal Income Tax Accountants in Melbourne

Do you want to get the best possible income tax refund at the end of the financial year? Book a personal tax accountant at Lotus Smart who can work with you in a collaborative way to find legal tax solutions, manage tax risks, claim every deduction you’re entitled to, and formulate strategies for maximising income tax refunds in the future all while stringently adhering to Australia taxation laws.

How Can Our Personal Tax Return Specialist Accountants Help You?

At Lotus Smart, we have got many years of experience in the preparation of personal tax returns for a range of occupation.

Our Accountants will ask you a series of questions so that you will have every opportunity to get the most out of your tax return.

Three golden rules apply to the work-related deductions. These are:

  • you must have spent the money yourself and not reimbursed,
  • expenses must be directly related to your income-earning activities, and
  • must have records to prove it

Our experience shows that many taxpayers hesitate to claim legitimate deductions in their tax return as they fail to keep the records to prove it. The ATO will disallow and charges you penalty if you claim work related deductions and cannot substantiate it at the time of audit.  At Lotus Smart, we provide forms, templates, and necessary training to our clients so that they can keep evidences and prepare records as required by the ATO.

How Can You Maximise Your Income Tax Return?

Extracting the most benefits and deductions for your income tax return requires due diligence. This includes keeping every receipt to maintain a record of all transactions, particularly work-related expenses such as travel and supplies. These provide proof of purchase and evidence that you paid for something yourself that you have not already been reimbursed for.

Keeping receipts can be highly useful for home owners who have an investment property loan to repay, allowing them to legally claim deductions on services provided by electricians, plumbers, carpenters and other trades required to maintain their investment. If you’re asking yourself “where can I find a tax agent near me who can assist with bookkeeping and more?”, you won’t be disappointed by what our company can do for you.

Request Personal Tax Help Today

Next time you need personal tax help from a specialist who knows what they’re doing and can work with you in partnership, there’s no better choice than Lotus Smart. Speak with our personal tax accountants today by calling (03) 9561 9922 or submitting an enquiry online to book and learn more.

You can also visit our office in Clayton, from which we operate and offer our services across the Melbourne metropolitan area, from Essendon and Blackburn through to North Melbourne and South Melbourne as well as regional areas such as Geelong and Bendigo.

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