A Quick Note on Individual Tax Returns

We all know that the economy is the driving force behind the direction and development of our society. It’s easy to understand that, when the economy is strong, the country thrives and our standard of living rises. However, the less obvious truth is that our industry, agriculture, technology and service sectors only meet a fraction of our country’s financial requirements. Even our financial institutions, stocks and foreign investments play little part in the civic development and building of our nation.

This is where you come in.

A major part of our economic fuel comes from taxation. It’s your tax that supports the infrastructure, safety and community systems at the local, state and federal levels. Your financial contribution serves to maintain or raise our standard of living. Your taxes are important – fact! But this doesn’t offer much comfort when your income is barely stretching to meet your own needs before you have to surrender some of your hard-earned money to the government.

However, we’re really lucky in Australia to have a highly progressive social security system, as well as a progressive direct tax system. With correct tax lodgement and expert advice, lower income earners can effectively pay no income taxes, in addition to receiving substantial social security benefits. Even the highest income earners can dramatically (and legally) increase their tax refund under the guidance of investment, real estate and business tax specialists.

This is why a correct and highly detailed tax return lodgement is so important. Providing the government with all the tiny details of your income and tax payments enables the ATO to get the best possible understanding of your unique financial history and current circumstances. There are many different factors that contribute to your constitutional economic responsibility, which will determine your highest legal tax refund at the end of each financial year.

In a basic sense, the government just borrows our money, and if we lodge our tax returns correctly, we can potentially have the full amount refunded to us at the end of each financial year. That said, the filing process can be tedious and full of legal hassle that most of us don’t have the time or energy to learn about.

Do you want to know the quickest and easiest way to ensure you get the maximum legal refund?

The answer is simple; hire an experienced taxation and accounting professional to take care of it. The best accountants will make it their mission to minimise paperwork, save you money and simplify your life when it comes to taxes. With cloud-based software solutions, online bookkeeping service options, a competitive price and a super-fast turn around, ABA Tax is your go-to account in Southport.

Not only can we get you the maximum legal refund on your Individual Tax Returns, but we’re also small business taxation specialists, experts in sole trader tax and property tax, and we really know how to make the most of a SMSF! So whether you’re a PAYG tax payer, retiree, investor or a business owner, we’re always available for a chat – even if you just need some advice.

What if I’m a bit behind with my tax?

Don’t worry! ABA Tax are the Gold Coast’s late lodgements specialists. We can even fix errors in your previous tax returns and help solve any nagging ATO problems. If you’re looking for peace of mind and headache-free tax, get in touch today to find out how we can start improving your financial situation.

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