for quick solutions to common inquiries. If you need further assistance, feel free to reach out with any additional questions.
Tax returns are due by October 31st each year for individuals lodging their own returns. If you're using a registered tax agent like Tax Avail, you may be eligible for an extended deadline, typically until May of the following year. Lodging early can help avoid late lodgement penalties, and gives you time to review your tax position, optimize deductions, and ensure compliance.
An SMSF gives you direct control over your super investments, allowing you to manage assets like property, shares, and even cryptocurrency. SMSFs have their own tax rules, and compliance is crucial. We help you meet annual reporting obligations while ensuring your investments remain tax-efficient.
To accurately complete your tax return, gather all relevant documentation: • Income Statements from employers, Centrelink, or other sources of income. • Receipts for any work-related expenses, donations, or education costs. • Bank interest statements and investment summaries (e.g., dividends from shares). • Property income and expenses if you own rental properties. • If you’ve sold assets like shares or property, you’ll need details on capital gains or losses.
Yes. If you worked from home, you can claim running expenses like electricity, internet, and office equipment. Tax Avail can help you choose the right calculation method (e.g., the fixed-rate method or the actual cost method) to maximize your deductions.
Yes. Cryptocurrency is treated as an asset for tax purposes in Australia, and transactions such as buying, selling, or trading crypto can trigger Capital Gains Tax (CGT). If you’ve engaged in crypto trading, mining, or staking, our Cryptocurrency Tax Guide will help ensure you meet all reporting requirements while minimizing your tax liability.