Fast, Accurate Tax Returns in Bass Hill

When tax time rolls around, Bass Hill residents and business owners need a service that is quick, accurate, and focused on getting the best possible result. Impact Taxation provides professional tax return services across Bass Hill, helping you navigate the process with confidence and claim every dollar you are entitled to.

Bass Hill is a hardworking suburb in the Canterbury-Bankstown region with a strong community of tradies, small business operators, and families. Many locals earn income from multiple sources, including wages, rental properties, and side businesses. This means their tax returns are rarely one-size-fits-all, and generic online tools often fall short.

Impact Taxation takes a personalised approach to every tax return in Bass Hill. We sit down with you, review your income and expenses, identify the deductions that apply to your specific situation, and lodge your return accurately with the ATO.

Why Bass Hill Locals Choose Impact Taxation for Tax Returns

Bass Hill clients come to us because they want more than a quick data entry service. They want a qualified team that understands their financial situation and works to optimise their refund.

We bring years of experience across a wide range of industries and income types. Whether you are an employee on a single PAYG income or a tradie with complex deductions across vehicles, tools, and subcontractors, we know how to prepare your return properly. Our accountants ask the right questions, dig into the details, and make sure nothing gets missed.

We also make the process convenient. You can meet us face to face, send your documents by email or through our secure portal, or speak with us by phone. We fit around your schedule because we know Bass Hill workers are busy.

Individual Tax Returns in Bass Hill

Our individual tax return service in Bass Hill covers every type of personal income situation. Whether you are a full-time employee, a casual worker, a retiree receiving a pension, or an investor managing a share portfolio, we prepare your return with care and precision.

We help Bass Hill individuals claim deductions for work-related travel, uniforms, tools and equipment, home office expenses, self-education, union fees, professional subscriptions, and more. For those with investment income, we handle dividend statements, capital gains calculations, and rental property schedules so everything is reported accurately.

If you have received a lump sum payment, foreign income, government benefits, or income from the gig economy, our team ensures it is all accounted for correctly.

Business Tax Returns in Bass Hill

Bass Hill is home to a thriving small business community, and many of those businesses rely on Impact Taxation to prepare their annual business tax return. We work with sole traders, partnerships, companies, and trusts to ensure their tax obligations are met accurately and on time.

For tradies and contractors in Bass Hill, we pay particular attention to vehicle and travel deductions, tool and equipment write-offs, subcontractor payments, insurance costs, and home office claims. We understand the deductions available to your industry and make sure you claim them all.

For companies and trusts, we prepare financial statements, calculate tax liabilities, and complete all required schedules and disclosures. Our aim is to minimise your tax legally while keeping your business fully compliant with ATO requirements.

Maximise Your Tax Refund in Bass Hill

The difference between a good tax return and an average one often comes down to knowing what to claim. Impact Taxation reviews every aspect of your financial year to find deductions and offsets that other services might miss.

For Bass Hill residents, commonly overlooked deductions include depreciation on work-related equipment, costs of managing rental properties such as repairs, property management fees, and travel to inspect properties, income protection and sickness insurance premiums, costs of financial advice related to investments, and prior year accounting fees.

We take a thorough, methodical approach and always explain what we are claiming and why. You will never be in the dark about what is on your return.

Overdue Tax Returns and ATO Compliance in Bass Hill

If you have missed one or more years of tax return filings, Impact Taxation can help you catch up. We work with Bass Hill clients to prepare and lodge overdue returns, communicate with the ATO on your behalf, and set up payment arrangements if needed. The longer overdue returns remain unfiled, the greater the risk of penalties and interest, so acting sooner is always better. We also provide ATO audit support if the ATO has contacted you about a review or audit.

Tax Planning for Bass Hill Residents and Businesses

Your annual tax return gives us a snapshot of your financial year, but real savings come from planning ahead. Impact Taxation offers tax planning services that help Bass Hill residents and business owners structure their affairs for minimum tax and maximum growth.

This includes reviewing your entity structure, timing income and expenses for optimal tax outcomes, planning around capital gains events, and taking advantage of available concessions. For business owners, our business tax planning service provides a strategic roadmap for reducing your tax year after year.

Professional, Knowledgeable and Courteous

You are in good hands!

Other ways Impact Taxation and Financial Services can help

Tax Planning

Our Tax planning strategies are a critical tool for managing your financial health. It can help you maximize deductions, reduce the amount of taxes owed, and avoid costly penalties and interest charges.

Wealth Planning

Impact Taxations Wealth planning is an essential service for those looking to secure their financial future. We offer customers peace of mind, financial security, and the knowledge that their goals will be met in the years ahead.

We can help you save costs

We are well aware of the importance of managing one's financial resources well, which is why we'll do everything in our power to handle your income taxes accurately and save you money while giving you peace of mind.

How can we help you?

    Book Your Tax Return Appointment in Bass Hill

    Ready to get your tax return done right? Contact Impact Taxation today to schedule your appointment. We offer fast turnaround, competitive pricing, and a commitment to getting you the best refund possible.

    We also serve clients in nearby suburbs including Revesby and Beverly Hills. Get in touch by phone, through our website, or book online.

    10 things you should consider before buying a property

    Are you considering buying a property? Do you know you could miss opportunities to save thousands, or tens of thousands of dollars if you don’t plan well before the purchase?

    Below are a few key considerations:

    1. How should you set up your loan structure? If you don’t have a loan offset account for a rental property, after you make extra payments directly to the loan account, you can only claim interest deduction on the remaining balance of the loan. For tax purposes, this deductible balance can’t be changed even if you redraw the overpaid amount later. A good loan structure could also help you to stabilize interest rate and speed up loan repayment by combining a standard variable loan (with an offset account) and a fix rates account.

    2. Timing of renovation. You might want to do a renovation right after you have bought the rental property. But do you know for any genuine repair & maintenance included in the renovation, you can claim an outright deduction against the rental income when the property is available for rental? If the work is done before the date when the property is available for rental, you can only claim the deduction against future capital gain when the property is sold. Depend on when you are going to sell, it could take years or up to decades before you can claim the deduction.

    3. How should you split ownership? You might want to share the property ownership with a family member. For tax purposes, the percentage of ownership is based on the legal title, regardless of who is paying more on the mortgage. If the property will give you a tax profit, you might want to allocate more
    ownership to the low-income earner to utilize the lower marginal tax rate. If it is giving you a tax loss, you might want to allocate more ownership to the high-income earner to utilize the loss. The goal is for the family to pay minimum tax together.

    4. Should you use a family trust to purchase the property? There are many pros and cons related to a family trust. The advantages include tax savings on rental profit or capital gain, asset protection and succession planning on family wealth. However, family trust can’t distribute losses. All losses are trapped in the trust to be used to offset future trust profit. Therefore, you can’t utilize any rental loss in a trust to offset other income such as salary & wages. Family trusts also attract high accounting fees on initial setup and annual fees on financial statements and tax returns. State governments also charge much higher land tax on family trusts.

    5. Will the income level change in future years for different owners? You might want to forecast the possible income for different owners to understand total tax payment / savings related to the property. This could also impact on your decision making on point 3 and 4 above.

    6. Understand when you can treat your property as main residence to receive an exemption on capital gains tax. When eligible, even if you have received rental income, you could still treat your rental property as main residence and receive the exemption. To be eligible, you will need to treat it as your main residence at the beginning. Please check out this ATO link: Treating former home as main residence.

    7. Decide whether you need to purchase a depreciation report. Most taxpayers don’t know that the depreciation on the building will need to be added back to calculate capital gains tax when the property is sold. When the property is held for more than 12 months, after applying the capital gains tax discount of 50%, it will effectively cut the tax rate by half at the time of sales. This makes depreciation deductions desirable for high income earners. However, for low-income earners it might not be ideal to claim depreciation as a rental deduction since they could be paying more on capital gains tax in the future. It could get more complicated if the property is under joint ownership between high and low income earners.

    8. You might want to consider Centrelink payments for future or existing owners. Most Centrelink payments are income and asset tested. Before attaching a rental property to a family member who is receiving, or plan to receive government benefits, you might want to check the testing thresholds first to see if the Centrelink payment will be impacted. This is also applicable when you are making distributions from a family trust to different family members.

    9. Have you considered using your SMSF (selfmanaged super fund) to make the purchase of a rental property? There are a lot of tax saving opportunities with a SMSF since the income tax rate is only 15%. And the capital gains tax rate is effectively only 10% after factoring in the 1/3 discount. The major downside with a SMSF is normally you can’t get the money out until you retire or on compassionate grounds (SMSF does have more flexibilities compared to normal retail super fund. But the choices are still very limited). It could be expensive to set up and operate a SMSF too. There are also strict legal requirements on the trustees. Penalties on incompliance could be severe. Tax law around SMSF is very complicated too. You will need to find a good tax accountant specialized in SMSF to help you to understand the structure, also do a cost-benefit analysis before setting it up.

    10. Consider internal ownership changes. For your existing rental properties, you can also consider whether you should transfer the ownership between family members, or between different business structures (this is not applicable for SMSF). You might want to do this when the income level changes with family members, or rental property changes between tax profit and loss. Before the change, you need to consider the cost of transfer including capital gains tax, stamp duty, conveyancer fees, etc. Again, a cost-benefit analysis is a must before the change.

    Last but not the least, did you combine all the above strategies and compare your choices? If you haven’t yet, how would you know that you have picked the best strategy to minimize your taxes? We can help you to factor in all considerations, compare different scenarios, also present you with a Property Prepurchase Report with all our findings to help you to make a decision. Contact us today to book in a consultation with an experienced tax accountant!

    IMPORTANT INFORMATION
    This is general advice only and does not consider your financial circumstances, needs and objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from your financial adviser and seek tax advice from your accountant.

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