We prepare tax returns for individuals, sole traders, partnerships, companies, trusts and Self Managed Super Funds, getting the job done quickly and efficiently.
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Different structures have different reporting obligations, and In The Picture prepares returns across individuals, businesses, trusts and SMSFs.
Entertainment industry clients often need specialist attention around variable income, deductions, travel, royalties and Income Averaging.
The current services content lists individuals, sole traders, partnerships, companies, trusts and Self Managed Super Funds.
Yes. Tax planning is part of the broader accounting and advisory expertise, especially for entertainment industry and business clients.
Yes. We can work through the outstanding lodgements one by one and help bring you up to date. Any penalties are determined by the ATO when the returns are lodged, but where there is a valid reason we can look at whether a remission request may be appropriate. If a tax debt remains, we can also look at whether an ATO payment plan may be available.
If you are a salaried employee, we will generally need details of your deductions and any other income you may have, such as dividends, share sales, rental income or royalties. If you are a sole trader, we will also need details of your sole trader income. If you are switching accountants, we can contact your previous accountant and arrange the transfer of the information we need.
The Medicare Levy and the Medicare Levy Surcharge are different things. The levy applies to most taxpayers based on income, while holding appropriate private hospital cover can help you avoid the separate surcharge. We can review your situation against the current thresholds.
The private health rebate is income-tested. If your income is higher than expected, or you claimed a larger rebate through your premiums during the year, an adjustment can appear at tax time. We can check the rebate tier that applies to you.
Some offsets, levies and thresholds are based on combined or family income, so spouse details can affect your result. Providing them allows the return to be calculated correctly.
Keep records that support the income you declare and the deductions you claim, such as receipts, statements and logbooks. The required retention period depends on the transaction type, and we can advise what to keep.
A franking credit represents company tax already paid on a dividend. It can reduce the tax you pay on that dividend and may be refundable in some cases, depending on your circumstances.
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Our team includes Chartered Accountants and Chartered Public Accountants, with advice on bookkeeping, BAS, payroll, year-end reporting, Australian and foreign tax, FBT, CGT and more.
Learn moreThis is a specialised tax concession for eligible special professionals, including actors, writers, athletes, musicians, artists and certain production associates with variable income.
Learn moreOne team for the whole SMSF journey, from deciding whether a Self Managed Super Fund suits you, through setup, administration, compliance and audit, to tax returns, financials and SMSF property strategy.
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