Individual tax returns

At Y&S Accounting, we understand that filing your individual tax return can be a daunting and time-consuming task. Navigating through the complex tax laws, deductions, and calculations can leave you feeling overwhelmed and uncertain about the accuracy of your filing. That's why we're here to help.

Individual tax returns

Tax laws can be confusing. If you don’t have the time, patience, or ability to maximise your tax return, you can take advantage of these often missed tax deductions and credits to get more money back in your pocket by seeking the advice of one of our competent tax professionals. Tax returns cover the financial year from 1 July to 30 June. As a registered tax agent, we have special lodgement schedules and can lodge returns for clients later than the 31 October deadline.

Special discounted price

ONLY for international students doing their first tax return in Australia and want a face to face or a video call appointments. (Medicare levy exemption not included)

From
$115
From
$109
Online
From
$132
Only TFN
From
$150
TFN + ABN income
Inclusions
Languages
English/Español
English/Español
English/Español
Salary and wages
Interest and Dividends
Deductions
Business income (ABN)
X
1 hour video call or face to face appointment
X
Extras
Medicare exemption certificate
+$45
+ $45
+ $45
Capital gains
X
+ $55
+ $55
From
$155
Only TFN
From
$180
TFN + ABN Income
Inclusions
Salary and wages
Government Payments and Bank Interest
Deductions
Dividends
Motor Vehicle claim
1 hour appointment to discuss your tax return
Business Income
X
Extras
Other Income: Managed Fund, Trust, Partnership, Personal Services Income, Foreign Income/Pension
+$55
+$55
CGT Schedule
+$55
+$55
Fee per Rental Property Schedule
+$65
+$65
From
$115
Special discounted price

ONLY for international students doing their first tax return in Australia for face to face and video call appointments.

Online
$109
Inclusions
English/Spanish
Salary and wages
Business income (ABN)
Extras
Medicare exemption certificare + $45
Only TFN
$132
Inclusions
English/Spanish
Salary and wages
X
Business income (ABN)
1 hour video call/telephone or face to face appointment
Extras
Medicare exemption certificare + $45
Capital gains +$45
TFN + ABN Income
$150
Inclusions
English/Spanish
Salary and wages
Business income (ABN)
1 hour face to face appointment
Extras
Medicare exemption certificare + $45
Capital gains +$45
Only TFN
$155
Inclusions
English/Spanish
Salary and wages
Government Payments and Bank Interest
Dividends
Motor Vehicle claim
1 hour appointment to discuss your tax return
Extras
Other Income: Managed Fund, Trust, Partnership, Personal Services Income, Foreign Income/Pension + $45
Capital gains +$45
Rental property +$45
TFN + ABN income
$180
From
Inclusions
English/Spanish
Salary and wages
Government Payments and Bank Interest
Dividends
Motor Vehicle claim
Business Income
1 hour appointment to discuss your tax return
Extras
Other Income: Managed Fund, Trust, Partnership, Personal Services Income, Foreign Income/Pension + $45
Capital gains +$45
Rental property +$45

What our customers say

Diana Franco

I can't recommend Sebastian enough. He is a great accountant! He is very diligent, efficient and always goes above and beyond. Excellent service! Great for small businesses accounting.

Orlando Guerra

Very knowledgeable and professional. My return was filed quickly and I got the money back within weeks.

Cristian Campo

Very knowledgeable and easy to get in contact with. Excellent customer service. Highly recommended!

Catalina Montoya

I highly recommend Y&S accounting, and specially to Sebastian Garcia.They have an excellent customer service, they always work in a legar way trying to be the most diligent and helpful as much as possible. Looking after their economical costumer wellness.

Juan Pablo Vasquez

This is the 4th year making my tax return with no issues and exceptional professionalisms. Strongly recommend them.

Frequently asked questions

Individual Tax returns

ÂżHow long does the Tax Return process takes?

Electronic tax returns are usually processed by the ATO within two weeks. We expect that most refunds will be out within 10 working days after lodgement of your tax return, but some people will wait a bit longer for the ATO to get it done.

I work with ABN and Tax File Number, Does it affect my Tax Return declaration?

ABNs are Australian Business Numbers. They are issued to businesses operating in Australia and to self-employed people. ABNs are required on invoices for work performed. For example, if you are a carpenter, fundraiser, or personal trainer, you will need an ABN.A TFN is a Tax File Number which is required by anybody who wants to work in Australia. This number is given to all employers when you start working and your employer will then deduct tax from your income under the PAYG (Pay As You Go) system. People usually don't have to worry about having to pay taxes at the end of the year because their employers take taxes out of their paycheck. In the case of an ABN, tax is not taken at source, the person raising the invoice and receiving the payment is receiving full payment for products or services so a portion of that income should be retained to meet the tax liability at the end of the financial year.People understand what their obligations are when they work on either the TFN or ABN model. The confusion usually only happens when people have two jobs in one year and one is TFN and the other is ABN, or if they have a full-time job that is TFN but also have a small business that generates ABN income

Do I have to declare overseas income?

If you are an Australian resident for tax purposes and hold a temporary visa in Australia, you are only required to declare your Australian-source income in your tax return.

If you are an Australian resident for tax purposes and are a permanent resident or Australian Citizen, you are required to declare your worldwide  income in your tax return.

I have to buy tools and equipment for my job. what can I claim on my tax?

There is often confusion about what expenses can be claimed for both business and personal use. For example, if you purchase a lawnmower for your landscaping business, but you also use it to mow your own lawn, you should divide the cost of the lawnmower between the two uses based on how often you use it for each.

For any tool under $300, you can claim the full cost on this year’s tax return. For any tool over $300, you need to claim the cost of the tool progressively over the course of its lifespan. This type of claim is known as depreciation, and it is in place to ensure that the amount you claim is relative to the actual value of the tool.

The accelerated depreciation rules apply to sole traders and businesses where the annual income is below $5 Billion. In these cases any equipment costing less than $150,000 can be written off in total in the year it was purchased. This is a great incentive for businesses to refresh their equipment before 30 June each year.

You can claim the cost of any tools or equipment that you purchase for work. This could include power tools, computers, printers, safety gear, sunglasses, office equipment and any other piece of equipment that is helpful for your income-earning activities.

How long do I need to keep my receipts for?

Records are written evidence of your income or expenses that can be in paper or electronic form. You will receive documents that are important for doing your tax during the income year.You need to keep records for 5 years (in most cases) from the date you lodge your tax return. Records may include income statements, payment summaries and receipts.

Still have questions?

Y&S Accounting proudly specialises in providing professional consulting and accounting services to the Latin American community in Australia since 2008.
© 2023 Y&S Accounting Brisbane. All right reserved.