This can not be driving from home to work and coming back. It has to be related in performing your work duties for example once you go to work did you have to travel to perform your work duties such as meeting clients, businesses, meetings or training.
Max 5000 KM or Log Book Note: the ATO is paying particular attention to work-related expense deduction claims. They may contact your employer to verify that the expense relates to their job (earning their income) and has not been reimbursed.
If you selected YES in last Question, please complete following questions for Car Expenses. Otherwise SKIP next few Car expenses questions.
This will help to calculate Work Related %age of car use.
If your employer requires the client to travel overnight, some associated costs like accommodation, meals, petrol, road tolls and parking may be deductible. To make a claim you must be able to show that: • travel was for work purposes • the client was away from home overnight • the amount of money to be claimed • the client kept a diary (for certain travel which is more than six nights away from home).
Standard suits, business attire, black pants, office shirts and skits, jeans, joggers do not form part of claim. The Uniform must have logo or specific to your job profile.
You much have receipts or diary entries.
You much have receipts or diary entries.
Study expenses can only be claimed if the study was to enhance your skills in existing job, not to get a new job. If the study was before you got the job you can not claim.
You much have receipts
If you have other work related expenses please go through following list and provide the details.
Number of hours worked from home in a week. You can claim $0.45 for each hour worked from home. It must be a requirement of the job and you need have a way to prove the hours such as diary entries.
Work use %age only. If you purchased a computer/electronic devices for which the amount >$300.00 EACH then these equipment need to be depreciated - so please also provide date of purchase and total amount.
Work use %age only. You can calculate work use %age by adding all work calls made from any one month of your phone bills and divide that by all calls. [E.g. you made 25 work calls and total calls in one bill were 40 calls then you work %age is 62.5% which is 25/40]
If the amount is >$300.00 EACH for these tools/equipment then these need to be depreciated - so please also provide date of purchase and total amount.
Only if you have overtime meal allowance in your PAYG Summary.
This firm will provide taxation services, which will be conducted in accordance with the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB), including the Code of Ethics for Professional Accountants (the Code). The extent of our procedures and services will be limited exclusively for this purpose only. As a result, no audit or review will be performed and, accordingly, no assurance will be expressed. Our engagement cannot be relied upon to disclose irregularities including fraud, other illegal acts and errors that may exist. However, we may, as part of our responsibilities as a Member in Public Practice, take steps and actions as set out in Section 225 of the Code, Responding to Non-Compliance with Laws and Regulations. These include but are not limited to the following. During the course of our engagement, in case we identify or suspect that non-compliance with laws or regulations has occurred or may occur, which may have a direct effect on material amounts or disclosures in the financial statements or compliance with which may be fundamental to the operating aspects of your business, to clients ability to continue its business or to avoid material penalty, we will discuss the matter with the appropriate level of management, those charged with governance or the internal auditor, as appropriate, to enable you to rectify, remediate or mitigate the consequences of the identified or suspected non-compliance or deter the commission of the non-compliance where it has not yet occurred. We will consider whether to communicate the non-compliance or suspected noncompliance with client’s external auditor, unless prohibited by law or regulation. We will also consider, based on materiality and or significance of the matter, whether further action is needed in the public interest. Further action may include disclosing the matter to an appropriate authority even when there is no legal or regulatory requirement to do so or withdrawing from the engagement and the professional relationship where permitted by law or regulation. Where appropriate we will inform you of our intention to disclose the matter to an appropriate authority before disclosing the matter. However, in case we have reason to believe that the actual or intended conduct would constitute an imminent breach of a law or regulation that would cause substantial harm to investors, creditors, employees or the general public, we may immediately disclose the matter to an appropriate authority in order to prevent or mitigate the consequences of such imminent breach of law or regulation. The engagement will include the operations and procedures of the Client as agreed. Preparation and lodgement of Individual tax return from presentation and evidences from clients and in case required rental property statements, depreciation schedules and financial statements in case of sole trader business, partnerships and trusts from the data provided by client. We do not do any bookkeeping and do not provide payroll services. We do provide secretarial services as and when required. Our professional services are conducted and the tax returns and financial statements in case required will be prepared for distribution to the relevant specific organisation or party for the purpose specified in the report or as agreed. We disclaim any assumption of responsibility for any reliance on our professional services to any party other than as specified or agreed, and for the purpose which it was prepared. Where appropriate, our report will contain a disclaimer to this effect. In conducting this engagement, information acquired by us in the course of the engagement, including any information relating to your affairs whether it belongs to you or not or is provided by you or not, is subject to strict confidentiality requirements. That information will not be disclosed by us to other parties except as required or allowed for by law or regulations, or with your express consent unless, we determine that disclosure of the non-compliance or suspected non-compliance to an appropriate authority is an appropriate course of action in the circumstances. We wish to advise that our firms system of quality control has been established and maintained in accordance with the relevant APESB standard. As a result, our files may be subject to review as part of the quality control review program of CPA Australia which monitors compliance with professional standards by its members. We advise you that by accepting our engagement you acknowledge that, in case requested, our files relating to this engagement will be made available under this program. We may collect Personal Information about you, your representatives, your clients and others when we provide services to you. In case we do, you agree to work with us to ensure that we both meet the obligations that we each may have under the Privacy Act 1988 Cth as amended Privacy Act. The obligations may include notifying the relevant person to whom the personal information relates who we are and how we propose to use their personal information. Where you have collected personal information, you confirm that you have collected the personal information in accordance with the Privacy Act, that you are entitled to provide this personal information to us and that we may use and disclose the personal information for the purposes we provide our services to you. We will handle personal information in accordance with the Privacy Act. You are responsible for the reliability, accuracy and completeness of the accounting records, particulars and information provided and disclosure of all material and relevant information. You are required to arrange for reasonable access by us to relevant individuals and documents, and shall be responsible for both the completeness and accuracy of the information supplied to us. Any advice given to you is only an opinion based on our knowledge of your particular circumstances. You or your staff is responsible for maintaining and regularly balancing all books or accounts, and the maintenance of an adequate accounting and internal control system. You have obligations under self-assessment to keep full and proper records in order to facilitate the preparation of accurate returns. It is your responsibility to keep those records for five years. You are responsible for ensuring that your business activities are conducted in accordance with laws and regulations. You are also responsible for identifying and addressing any non-compliance by you , by an individual charged with governance of the entity, by a member of management, or by other individuals working for or under the direction of your or your business tax affairs. For the provision of tax return preparation services insert the following - A taxpayer is responsible under self-assessment to keep full and proper records in order to facilitate the preparation of a correct return. Whilst the Commissioner of Taxation will accept claims made by a taxpayer in an income tax return and issue a notice of assessment, usually without adjustment, the return may be subject to later review. Under the taxation law such a review may take place within a period of up to four years after tax becomes due and payable under the assessment. Furthermore, where there is fraud or evasion there is no time limit on amending the assessment. Accordingly, you should check the return before it is signed to ensure that the information in the return is accurate. Where the application of a taxation law to your particular circumstances is uncertain you also have the right to request a private ruling which will set out the Commissioners opinion about the way a taxation law applies, or would apply, to you in those circumstances. You must provide a description of all of the facts (with supporting documentation) that are relevant to your scheme or circumstances in your private ruling application. In case there is any material difference between the facts set out in the ruling and what you actually do the private ruling is ineffective. In case you rely on a private ruling you have received, the Commissioner must administer the law in the way set out in the ruling, unless it is found to be incorrect and applying the law correctly would lead to a better outcome for you. Where you disagree with the decision in the private ruling you can lodge an objection against the ruling in case it relates to income tax, fuel tax credit or fringe benefits tax. Your time limits in lodging an objection will depend on whether you are issued an assessment for the matter (or period) covered by the private ruling. Where, as part of our engagement, the services of an external consultant or expert are required, an estimated cost and timeframe and involvement will be provided to you for your approval. Note that APES GN 30 Outsourced Services is guidance only. Whilst it is not mandatory for public practice certificate holders to follow this guidance CPA Australia recommends that members consider and apply to the extent practicable when providing or utilizing outsourced services. Under Tax Practitioner Board (TPB) regulations, however, it is mandated that a tax agent must disclose this information to clients. Where you use outsourced services on a regular basis with a multitude of clients you may wish to develop a separate standard form of disclosure. This engagement will start upon acceptance of the terms of engagement by the Client in line with this brochure. The first period for which we will be responsible is the year mentioned in the tax return. We will not deal with earlier periods unless the Client specifically asks us to do so and we agree. The fee arrangement is based on the expected amount of time and the level of staff required to complete the accounting and taxation services as agreed. This fee arrangement may be subject to change in case the following circumstances should occur Fee are increased. Additional work is completed which was not covered in the scope earlier. Fee invoices will be issued in line with a billing schedule advised to the Client in terms of Australian Dollars usually at 140.00 per hour and/or as agreed before the engagement. Minimum fees are Individuals Simple tax return with no deductions $69.00 Individuals Simple tax return with deductions $99.00 – $119.00 Individuals tax return with investment property $99.00 – $119.00 plus $60.00 for each investment property Individuals tax return with Capital Gains calculations $99.00 – $119.00 plus $60.00 for each each capital gains worksheet Individual tax return – Complex – Please Ask for Quote and provide more information. Business – Sole Traders tax return $249.00 Partnerships- Starts at $399.00 Trusts – Starts at $599.00 Companies – Starts at $699.00 Business tax return – Complex – Please Ask for Quote and provide more information. Superannuation Funds – Starts at $799.00 Business Activity Statements -Starts at $299.00 per quarter Payroll Services – Please Ask for Quote and provide more information. *Additional charges applies for additional work based on the individual requirements @$119.00 per hour. Our liability is limited by a scheme approved under Professional Standards Legislation. Further information on the scheme is available from the Professional Standards Councils website We have separate PI Insurance as well. All original documents obtained from you arising from the engagement shall remain your property. However, we reserve the right to make a reasonable number of copies of the original documents for our records. Our engagement will result in the production of income tax returns or financial statements. Ownership of these documents will vest in you. All other documents produced by us in respect of this engagement will remain the property of the firm, subject to any statutory obligations. The firm has a policy of exploring a legal right of lien over any client documents in our possession in the event of a dispute. The firm has also established dispute resolution processes.
I confirm that you have advised me that I must demonstrate that I have incurred an expense for income producing purposes. In addition, you have advised me of the stringent SUBSTANTIATION legislation I must satisfy in relation to work, car and business travel expenses. In addition, you have informed me that I must obtain original receipts and keep them for a minimum of five years from the date my return is lodged. The receipts must contain the following details: name of supplier; amount of expense; nature of goods and services (noting the specific type of items purchased or expenditure incurred which I am able to personally record up to the date of lodgement of my return where not adequately noted by the supplier); date of expense (which I am able to personally record where not noted by the supplier); and the date of the documents.
Penalties to apply with incorrect returns You have also advised me that additional tax, penalties, interest and possible prosecution action may be taken against me by the ATO if I provide details which lead to an incorrect tax return being lodged.
You have advised me that as an Australian resident I must declare income from all sources, in and out of Australia, including net capital gains received, for the year of income in my tax return. Apportionment Where items are used for both business and private purposes, e.g., car, mobile telephone, home telephone, computer etc, I have records to verify my business usage claim. In addition, my employer will verify that it was necessary to incur such expenditure in earning my assessable income. Further, I have instructed you to prepare the return based on me being able to produce these records, if required.
I further confirm that: I am aware of the procedures to follow if a document is lost or destroyed; I may be required to verify any income or expense item noted in my return in the event of an ATO audit; I understand the Substantiation schedules I completed for all work, car and travel expense claims under self-assessment; and I have read and understood the return prepared for me. I declare that: I have disclosed and you have returned all of the income, including net capital gains which I have earned/received, for the income year. All income declared, claims for deductions and tax offsets/rebates included in my return are based on my specific instructions and advice that I satisfy the relevant taxation requirements. I have all receipts or documentation necessary to substantiate the above claims and I will make them available if required by the Tax Office; and You have clarified what written evidence (including car/travel records) will be required during an audit and penalties, (including prosecution) that may be applied if incorrect claims are identified in an audit situation. This to confirm our understanding of the terms of our engagement and the nature and limitations of the services we will provide.
Acceptance of our services in conjunction with this information brochure indicates that you understand and accept the arrangements. This information will be effective for future engagements unless we advise you of any change. I declare that the information I provided in the Tax Return(s) or Garima Pty Ltd TAN 24725813 , tax agent, in relation to the approved form Individual Tax Return prepared in Hand tax software for the period as stated is true and correct and I have authorised Garima Pty Ltd TAN 24725813 to lodge the approve form with ATO and I am authorised to make this declaration.