Tax Return Services in Revesby That Work for You

Filing your tax return properly can mean the difference between an average refund and a great one. Impact Taxation provides dedicated tax return services in Revesby, helping individuals, contractors, and business owners lodge accurately and claim every deduction they deserve.

Revesby is a well-established suburb in the Bankstown area known for its strong community of families, tradespeople, and small business operators. Many Revesby residents work in construction, transport, and services, and their tax returns often involve industry-specific deductions that require professional knowledge to claim correctly.

Whether you need a simple PAYG return or a multi-schedule business tax return, Impact Taxation delivers a tailored service that is accurate, compliant, and focused on putting more money back in your pocket.

Why Revesby Chooses Impact Taxation for Tax Returns

Revesby clients trust Impact Taxation because we combine qualifications with a real understanding of how our clients earn their income. We are not a generic tax shop. We are a CPA practice with qualified accountants who know the ins and outs of Australian tax law.

For tradies and contractors in Revesby, this means we understand how to claim vehicle costs using logbooks, which tools and equipment are deductible, how to report subcontractor income, and when the instant asset write-off applies. For employees and investors, it means we catch deductions that generic software would miss.

We also value your time. Our process is streamlined and flexible, with multiple options for how and when we meet with you.

Individual Tax Returns in Revesby

Our individual tax return service in Revesby covers all personal income types. We prepare returns for PAYG employees, casual workers, students, retirees, investors, and anyone else with an Australian tax obligation.

We review your income summaries, investment statements, and expense records, then identify every deduction relevant to your circumstances. Common deductions for Revesby residents include work-related travel and vehicle expenses, uniforms, safety clothing, and laundering costs, tools, equipment, and technology, working from home expenses, professional memberships, courses, and training, and investment expenses including rental property costs and financial adviser fees.

Every return is prepared carefully and reviewed before lodgement so you can be confident it is correct.

Contractor and Sole Trader Tax Returns in Revesby

Revesby has a large number of contractors and sole traders, particularly in the building, electrical, and plumbing trades. Impact Taxation specialises in contractor tax returns that account for the unique way tradies earn and spend.

We help Revesby contractors claim deductions for vehicle use between job sites, power tools, hand tools, and safety equipment, protective clothing and boots, mobile phone and internet expenses, insurance premiums, subcontractor payments, and home office costs for administrative work. We also ensure your income from multiple clients or agencies is correctly reported and that your BAS and tax return align.

Business Tax Returns in Revesby

For partnerships, companies, and trusts in Revesby, Impact Taxation prepares detailed business tax returns that cover all reporting requirements. We prepare or review your financial statements, reconcile your records, apply all relevant concessions, and calculate your tax liability.

We advise on small business concessions including the instant asset write-off, simplified depreciation, and the small business income tax offset. Our business accounting services also support you throughout the year with bookkeeping, BAS lodgement, and financial reporting so your end-of-year return is seamless.

Overdue Tax Returns and Amendments in Revesby

Whether you have missed one year or several, Impact Taxation helps Revesby residents lodge overdue tax returns and get back on the right side of the ATO. We prepare late returns, calculate any outstanding liabilities, negotiate penalty reductions where possible, and arrange payment plans.

We also handle tax return amendments if you have already lodged but discovered an error or a missed deduction. We review the original return, identify the issue, and lodge the amendment promptly so you receive any additional refund owed to you.

Strategic Tax Planning for Revesby Clients

Once your return is lodged, Impact Taxation can help you plan for the future. Our tax planning services give Revesby residents and business owners a clear strategy for reducing their tax liability year on year. This includes advice on entity structuring, timing of income and expenses, capital gains planning, and investment structure optimisation.

Planning ahead is the most effective way to reduce your tax bill, and we make the process straightforward and actionable.

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 Revesby Tax Return Today

    Contact Impact Taxation today to schedule your Revesby tax return appointment. We offer accurate, affordable, and prompt tax return services for individuals, contractors, and businesses.

    We also serve clients in neighbouring suburbs including Bass Hill and Beverly Hills. Get in touch by phone, online, or through our website.

    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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