Individual Tax Return Services

 

Individual Tax Returns Overview 

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We specialise in preparing and filing personal tax returns for a wide range of clients. From wage earners to freelancers, our team will ensure that your tax return is prepared according to the latest tax laws and regulations, maximising deductions and credits available to you.

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Rise Accountants specialise in investment property tax, share trading & investments, business ABN or sole traders and salary and wage individuals.

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Personal Income Tax in Australia - Glossary

 

What are tax deductions?

These are eligible expenses that reduce your taxable income. Common deductions include work-related expenses, donations to registered charities, self-education expenses, and costs related to working from home.

The more valid deductions you claim, the less tax you may have to pay.

 

What are tax offsets (credits)?

Tax offsets reduce the amount of tax you owe. Unlike deductions, they apply directly to your tax payable. Examples include the Low Income Tax Offset (LITO), Seniors and Pensioners Tax Offset (SAPTO), and the Private Health Insurance Rebate.

 

What is a tax refund?

A tax refund is the amount returned to you by the ATO if you’ve paid more tax than necessary throughout the financial year. Refunds typically come from excess PAYG withholding or refundable tax offsets.

 

What is assessable income?

This includes all income that is subject to tax. Examples are salary and wages, investment income (such as interest or dividends), rental income, and some government payments.

 

What is taxable income?

Your taxable income is your assessable income minus allowable deductions. This is the final amount on which your tax liability is calculated.

 

What is PAYG (Pay As You Go) Withholding?

This is the tax withheld from your income by your employer and paid to the ATO on your behalf. It helps you meet your income tax obligations gradually throughout the year.

 

What is the Medicare Levy?

Most taxpayers are required to pay a Medicare Levy (usually 2% of their taxable income) to help fund Australia’s public healthcare system. Some may qualify for a reduction or exemption based on income or medical circumstances.

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What is the Private Health Insurance Rebate?

If you have eligible private health cover, you may be entitled to a rebate from the government, which can reduce your premium or your tax payable.

 

What is the individual tax return lodgement due date?

Individual tax returns are typically due by 31 October each year, unless you lodge through a registered tax agent who may have extended deadlines.

 

What is the Notice of Assessment?

Once your tax return is processed, the ATO issues a Notice of Assessment. It shows your taxable income, how much tax you owe (or are refunded), and any credit or debit adjustments.​

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Why Taxation For Individuals Matters

Filing taxes can be confusing and time-consuming, especially with ever-changing laws. Common taxation mistakes by individuals include missing out on eligible deductions, not understanding tax credits, or misfiling paperwork. Our service eliminates these risks, ensuring your return is accurate and maximised.

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Benefits of Engaging a Professional

 

Accuracy

Professionals know the ins and outs of tax laws, ensuring you’re compliant and precise in your filing.

 

Timesaving

Skip the frustration of navigating complex forms and rules yourself.

 

Maximised Refunds

By identifying all potential deductions and credits, we work to get you the highest refund possible.

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Why Partner With Rise Accountants

Lodging your tax return should be stress-free and reliable. We make sure your return is accurate and tailored to you, so you can feel confident during tax season. Here’s why we stand out:

Personalised Service: We take the time to understand your tax situation and tailor our advice to fit your situation.

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Expertise in Tax

Our team has many years of experience in tax return preparation, and we are constantly updating our education with the latest tax laws updates to ensure our clients get the most accurate advice.

 

Transparent Pricing

We offer clear, upfront pricing without any hidden fees or surprises.

 

Expertise

Our team is not only experienced in tax return preparation, we also are experienced in all matters accounting, business and investments, so if you do have questions where we are able to give you a holistic answer to better your situation and understanding.

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Customer Commitment

We provide personalised service and ensure a smooth, stress-free experience.

 

 

Ready to simplify your tax return?

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Get Help with Your Tax Return