Although not always considered the most exciting time of the year by many, tax time is once again upon us.
Even for the most organised of people, the thought of lodging a tax return can be overwhelming or a chore, to say the least.
This year, tax time may look a little different to previous years with COVID19 restrictions in place.
Many of us have found a ‘new normal’ working from a home office which may mean using personal data and office equipment, electricity, technology, stationary and furniture.The good news is you’ll most likely have more expenses to claim on your tax return.
The ATO has announced new methods for claiming work from home deductions in the wake of COVID-19, which may leave you feeling a little uncertain about how and what to claim.
With more than 40 accounting and taxation businesses and in excess of 600 professional services ranging from financial planners, bookkeepers to superannuation, legal advisers and more, Central Geelong can provide you with all the expert advice you need in one place.
www.centralgeelong.com.au is your first stop for sourcing a taxation and accounting service. The website features a business directory listing all businesses by category, including contact details and an overview of key services. It has information on the current operating status of each business and how the business may be doing things a little differently under restrictions.
Professional service businesses have cleverly adapted to continue to provide customers with a range of services via phone appointments, virtual meetings and electronic documentation.
H&R Block Tax Accountants is offering phone appointments and the ability to share documents electronically. Its online Tax Express Return option allows you to complete your tax return within minutes and have it reviewed by a tax professional once submitted. You can also download the Tax Express Return App.
Geelong Tax Services, The Income Tax Professionals and Warnock Accounting offer online and over the phone consultations and the capacity to submit tax return information electronically. Patrick Rowan and Associates are continuing to work remotely, offering phone or virtual Income Tax Return preparation meetings via Zoom.
McHenry Partners Accountants & Business Advisors also offer phone or virtual meetings. The use of cloud accounting software with information provided direct from the ATO, the implementation of Single Touch Payroll (STP) and insurance provider reporting, have all made it easier than ever at tax time. A phone call or virtual meeting can then confirm expenses incurred. McHenry Partners provides a cloud-based electronic signing system which allows clients to be sent their tax return securely for signing from their mobile phone or computer. Once processed by the ATO, they process all refunds into the client’s bank account directly. Using an accountant that can complete and sign tax returns electronically helps avoid processing delays and reduces the need for face-to-face contact or relying on traditional mail.
McHenry Partners is also supporting other Geelong businesses through the City of Greater Geelong’s Coronavirus Business Support Package – it is one of many local businesses offering expert advice to assist business operators impacted by restrictions. For more information visit www.geelongaustralia.com/business or call 5272 5272.
To see how Central Geelong businesses are doing things differently and to find out more about how you can keep supporting local businesses and the free parking options in Central Geelong visit www.centralgeelong.com.au or download the Love Central Geelong app.
