Australian citizens, permanent residents, sponsored or skilled business visa-holders

Pro Tax understands the complexity of every individual’s financial situation including their work life and investments and as a result believes it of the utmost importance to address as many areas as possible to help you become more tax efficient.

Investment Properties

If your investment property is turning a profit, we will work with you to help you claim a deduction for your related expenses when it is both rented and available for rent. If your deductible expenses (including interest on the loan borrowed to finance the property) exceed the income earned from the property, as a result of your property being negatively geared we will assist you where possible in claiming a deduction for the full amount of rental expenses against your rental and other income – such as salary, wages or business income – when you complete your tax return for the relevant income year.

Travel and Car Expenses

Whether you use your own car in carrying out your work duties or someone else’s car, we can effectively calculate your entitled deductions by assessing the number of work-related kilometres your drive. If you travel for work, we can assist you with claiming for expenses incurred, such as meals, accommodation, petrol, public transport and other incidental expenses.

Interest, Dividend and Investment Income

If you have management fees or pay fees to receive investment advice, we can assist you with claiming a deduction for this in your income tax return. We can also assist you with claiming for interest charged on money you borrow to purchase investments such as shares.

Industry-Specific Deductions Based on Your Occupation

Whether you’re an engineer or a hairdresser, a lawyer or a teacher – there are several industry-specific deductions that may help to maximise your tax return based on your occupation. We will explore these avenues with you during a consultation or after the receipt of your application.

Current Tax Rates

The current tax brackets (not including the Medicare levy of 2%) are as follows:

Taxable Income Tax on this Income
0 – $18,200 Nil
$18,201 – $45,000 19 cents for each $1 over $18,200
$45,001 - $120,000 $5,092 plus 32.5 cents for each $1 over $45,000
$120,001 – $180,000 $29,467 plus 37 cents for each $1 over $120,000
$180,001 and over $51,667 plus 45 cents for each $1 over $180,000

What Work-Related Receipts / Records Should I Keep?

Here is a list of common work related expenses, applicable to citizens, residents and skilled visa-holders, which you should prepare a ledger of and keep receipts as evidence whenever possible:

1. Interest on loans
Management and maintenance costs relating to an investment property
3. Borrowing expenses, depreciation and capital works spending regarding to an investment property
4. Car and transport expenses
5. Car parking receipts, road tolls and petrol
6. Interest, dividend and investment income deductions
Tools and equipment
8. Meals when working overtime
9. Work from home expenses
10. Computers and software
11. Phone and internet
12. Work related travel
13. Uniforms
14. Gifts and charitable donations
15. Stationary and office supplies
16. Laundry and dry-cleaning expenses
17. Self-education expenses
18. Personal super contributions
19. Union / association fees
20. Private health insurance policy details
21. Past tax agent / accounting fees

Apply Now

If you are located in Sydney, CONTACT US to arrange an appointment with an accountant to prepare and lodge your personal income tax return. We will work closely with you to maximise your application as much as possible, and to uncover all available opportunities to ensure that you receive the best possible legal outcome. Alternatively, you can apply online. If you are not located in Sydney, fill out an application form and we will be in touch soon afterwards to discuss your case.