BARKER SMITH ACCOUNTANTS
MANY factors, including this year’s Budget, will affect your tax return, says Barker Smith Accountants co-owner Darrin Smith.
The medical expenses tax offset continues to be phased out and with the exception of some very limited circumstances, most people will not be able to claim any more.
“Fly-in or drive-in workers in remote areas also cannot claim the zone tax offset,” Mr Smith said.
“You must genuinely reside in a listed zone to be eligible.”
Mr Smith said for those with rental properties, depreciation was one of the best deductions available but many were not taking full advantage, even with the recent changes.
“The initial cost of a depreciation report is normally easily recovered in the first year and will create ongoing tax benefits,” he said.
Barker Smith’s mobile tax service can visit your home most weeknights and Saturday mornings until October, saving you the hassle of getting to an office.
For more information, call 9301 4677 or visit Level 1, Unit 4, 45 Winton Road, Joondalup.