Meet your tax obligations and claim your entitlements
Whether you are an individual or a business, My Wealth Solutions have a team of Brisbane-based tax advisors who can give you professional tax advice that will help you create, grow and protect your wealth.
Our highly trained advisors ensure all requirements are met while helping you understand how to maximise your tax position based on your circumstances.
Due to the stigma of pain and frustration, people often overlook the important role tax returns play in wealth growth and management. As protectors of your financial future, our team is focused on ensuring you have all the information you need to save on tax, understand your entitlements and obligations. Without seeking help from a professional advisor for your tax return, these details can be easily missed.
With My Wealth Solutions it’s simple. We will make completing your annual tax return easy and efficient by organising the entire process for you. The great part about our service is that it can be tailored to your preferences.
We can either work with one of our specialist tax partners or team up with your chosen accountant or tax partner.
Our Tax Service Includes
- Individual tax returns
- Business tax returns
- Overdue tax returns
- Corrections to previous tax returns
- Tax reduction
Our company focus is to create, grow and protect your wealth so you can reach your financial goals. Ensuring you receive the best possible tax advice plays an important role in this process.
Don’t risk losing out on your tax return – let us remove the stress and give you peace of mind.
Frequently Asked Questions
How do you reduce your tax?
If you are entitled to tax deductions or tax offsets you may be able to reduce your tax. Tax deductions are applied before tax is calculated, while tax offsets are applied after tax has been calculated. You may be entitled to tax deductions on work-related expenses, charity donations, self-education expenses and cost of managing your tax (e.g. hiring an advisor). Tax offsets are applicable to low income earners, taxpayers with a dependent relative, senior Australians and pensioners, the taxable part of your superannuation income stream and net medical expenses over a certain amount. Medium and high income earners can also reduce tax through salary sacrificing – when you put a sum of your pre-tax income towards a benefit before tax. For more information feel free to give us a call.
What do you need for a tax return?
To complete your tax return you will need a range of documents including your tax file number, payment summaries, EFT details, financial documents and records. If you’re unsure or need help with your tax return, our team can talk you through exactly what you need and make sure you don’t miss anything.
When is tax due?
Your tax return needs to be completed by the 31st October each year.
What happens if I don't do my tax return?
The Australian Taxation Office may apply a penalty if you lodge your tax return late. You are likely to receive a penalty if you have more than one tax return outstanding, your lodgement history is bad or you have not responded to a request to complete your tax return.