Showing posts from June, 2020

Preparing Your Tax Return - Part 4

Disclaimer: We do not provide tax or accounting advice. This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax or accounting advice. You should consult your own tax and accounting advisors before engaging in any transaction. 
Now that you have a bit of understanding of how taxes are done here in Australia and how to keep records, it's time for you to prepare your tax return.

👉 Tax Return or Non-lodgement Advice

You have to determine first if you need to lodge a tax return or a non-lodgement advice. A non-lodgement advice is to let ATO know that you do not need to lodge a return for that year and also, you'll not have any outstanding return to be listed in the portal. Same with Centrelink, you need to inform them if you do not need to lodge a return so that they can balance your payments as soon as possible.
To know whether you need to lodge a return or not, you can use this calculator - https://www.a…

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