Tax Returns, Tax Calculations & Tax Planning.
The power of working with a professional accountant
Zero Tax works with individuals and small businesses to help them better understand their tax obligations and minimise the amount of taxes they pay at the end of every financial year.
We pride ourselves on providing accurate and timely information.
Our tax accountants on the Sunshine Coast can assess your current tax situation and help you plan for the future to make sure you are in the best possible position when it comes to taxes.
When you have any questions about tax rates, refunds, rebates, or whether they apply to you or not, we can help. Zero Tax is committed to the highest levels of customer service and availability to discuss any concerns you may have.
Schedule a call with us; we’ll offer you the best service based on your personal/business needs.
“We offer the highest quality of accounting services for individuals, partners, businesses and trusts.”
Individual, Partnership, Company & Trust Tax Returns
Taxes: the bane of the working world. When it comes to taxes, you want to make sure that you’re getting the best deal. Luckily, we’re here to help.
Our tax accountants on the Sunshine Coast have the expertise and knowledge, to get the best possible outcome for you and your company.
Capital Gains Tax Calculations
Capital gains tax (CGT) is a tax imposed on earnings made from the sale of assets such as real estate.
There are many tricks of the trade when it comes to capital gains and knowing when to sell and how certain exemptions can apply, can save you thousands of dollars.
One way to make sure you don’t get hit with an unpleasant surprise when the tax time comes is to calculate your taxes ahead of time. This way, you can avoid any surprises and plan your finances accordingly.
Tax Planning & Tax Minimisation Strategies
Tax planning should be considered an integral part of your investment strategy. A tax planning strategy involves thorough financial analysis in order to reduce and manage any potential tax liability.
With a clear vision of your goals and a solid plan to achieve them, you can save on taxes and minimise any cash flow issues.
Working with a professional tax accountant on the Sunshine Coast can help you make the most of your situation and ensure that you do not pay more than the law requires.
Too busy or too far to meet?
Don’t worry! We also provide online accounting services.
Starting a New Business?
Starting a new business is an exciting and daunting experience for everyone. You will need to plan and prepare for the financial responsibilities that come with the new venture.
If you are struggling with the financial side of your new business, don’t worry. We know that it can be quite overwhelming and that’s why we are here to take some of the load from you.
“We have a deep understanding of the financial and legal challenges that come with a new business and we are here to support you with all aspects of your business set up and the ongoing obligations.”
Why Zero Tax is people's preferred accountant
Zero Tax was very prompt, very responsive, and very efficient. I’ve never had such great service from a tax agent. Bravo!
After being failed by our last accounting firm I found Brad at ZeroTax by asking for recommendations on the Community notice page on FB. Brad has resolved all of my tax related obligations in a fast & efficient manner while saving me money also. Brad at ZeroTax is what you hope to find when looking for an an accountant.
I have known Brad Kearney for some time now through my workplace and was always very impressed with his work as an accountant and his strong ethics as a person. As soon as Brad embarked on his personal venture of Zero Tax, I immediately asked him to do my tax work. Not only did Brad complete my work in a timely manner; it was of the highest professional standards. I have absolutely no hesitation in highly recommending Brad/Zero Tax to anyone and have already done so to many. If you are looking for a personable, communicable, honest accountant with the highest degree of professionalism and integrity - Brad and Zero Tax is your go to. He cares about his clients and is much more than 'just' an accountant as he gets to know your business which allows him to advise clients on an in-depth level. Thanks again Brad. Deborah Small
My first time with ZeroTax and I can definitely recommend them. Brad helped me with my tax return and made the process very easy with no stress, while answering all my questions thoroughly. I will be back next year! Thank you again!
Exceptionally professional advice and services provided to me both as an individual and a company. Brad has gone above and beyond with his accounting services. I have had the chance of working with several different accounting services over the years and being burnt by poor services is never fun. But my faith in accountants has been well restored after working with Brad at ZeroTax. His knowledge and articulate attention to detail is something that puts him ahead in the world of accounting. Could not say enough good things about ZeroTax - A-class!!
I contacted Brad from Zero Tax because my previous accountant would take days, if not weeks to get back to me. I can contact Brad at any time on his mobile or email and he gets back to me straight away. He came up with some great ideas to save on tax and he also ended up cheaper than my other accountant. He is extremely knowledgeable about all things tax and can give you an answer on the spot. I can't recommend Brad highly enough.
Your taxable income is the amount of money you must pay taxes on. It’s the sum left after deducting all your allowable expenses. These deductions or expenses reduce the amount of assessable income you end up paying tax on.
Assessable income − allowable deductions = taxable income
Tax is not taken straight from the source payment when doing work on your ABN, as it is with salary and wage income.
When you file your tax return, you must include your income and expenses from working on your ABN along with any other income received, tax is then charged based on that combined income. You can use the ATO Tax Calculator to estimate how much tax you will pay.
You do not pay any more taxes for having a second job. You will pay the same amount of tax on your income whether you have one or several jobs. So, whether you make $60,000 a year from a single company or numerous employers, the tax you must pay is the same.
To identify expenses that may be acceptable as tax deductions you should consider:
- Was the cost directly related to your job or a source of income?
- Did you spend the money and not get reimbursed?
- Do you have a formal record of the expense, such as a receipt or a bank statement?
Some things you might be able to claim are:
- Home office expenditures and equipment; such as phone and Internet bills, printer paper, ink and stationery, computers, phones, printers, furniture and furnishings… Check the ATO website for more information on deductions you can claim.
- Vehicle and work travel expenses; such as fuel (if incurred when working at multiple workplaces or locations), car charges in cases where you require your car to complete your job tasks and accommodation when you are compelled to travel for work. Read more about vehicle and travel expenses you can claim on the ATO website.
- Laundry and dry-cleaning services; If you purchased occupation-specific apparel, safety clothing, or work uniforms relevant to your employment. Read more about clothing, laundry and dry-cleaning expenses you can claim at the ATO website.
- Education; if your studies were work-related and you enrolled in a course that was qualifying. Read more about course expenses you can claim at the ATO website.
- Industry-related deductions; You can deduct work-related costs that are directly tied to your employment and industry. Check the list of occupations and industries on the ATO website to find out the industry-related tax deductions you could claim.
- Gifts and donations; In general, you can deduct any donation over $2 provided it was made to a ‘deductible gift recipient.’ Depending on the sort of gift, different regulations apply. The ATO website has further information regarding claiming gifts and donations.
- Investment income; If you received interest payments on your savings, dividends from your stock investments, rental payments from an investment property, or any sort of investment income, you may be entitled to claim investment income tax deductions. You may also be able to recoup the money spent on investment advice. Read more about income-generating deductions you can claim.
- Other work-related expenses; such as books, digital information subscriptions, safety goggles and protective sunglasses, overtime meals… if they are work-related and depending on your work and individual circumstances.
If you’re not sure what deductions you can claim, schedule a free consultation with one of our certified accountants on the Sunshine Coast.
The important date to remember is October 31. If you are filing your own tax return for the preceding fiscal year (July 1 – June 30), the deadline is October 31. Using a tax agent will generally extend your due date for lodgement until May the following year.
In Australia, the tax-free threshold is $18,200. This means that if you are an Australian resident taxpayer, you do not have to pay taxes on your first $18,200 of income.
If your taxable income was more than $18,200 in the previous fiscal year, you must file a tax return. Also, if you had any tax withheld from income or you had an ABN (even if you didn’t do any work on it) you will need to lodge a tax return.
If you need help with your tax return, book a free consultation with one of our certified accountants on the Sunshine Coast.
Get in touch