Wanneroo Times - - Tax Time -

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.

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