Tax 2022

Thank you for choosing Simple Solutions
to complete your Tax 2022 return for you.

INDIVIDUALS

On or around 18 July 2022 we will be downloading your pre-fill report and adding it to the secure client portal. If you need a reminder how to access please click here for your CLIENT PORTAL INSTRUCTIONS.

You will then be able to login and check the pre-filled information for accuracy and completeness.

Critical for 2022: If you have received COVID payments in 2022 – Services Australia is NOT including this on your prefilled information, you will need to advise us of the payments you have received. Please see COVID-19 Payments and Tax 2022 for more information of what we need.

Please also advise us if any of your details have changed (name / address / banking details and if you have hatched (had a new bub or more kids!), matched (now partnered), or separated (sorry to hear) so we can update your records. Please also advise if your job description has changed.

If you could then upload your documents for tax onto your portal. You do not need to notify us that you have uploaded documents – we get notified internally. However, if you could advise us once you believe you have uploaded ALL of your documents, we can then progress the return and allocate it to one of the amazing tax accountants in the team for them to work their magic.

Not sure what to upload or what we need? Well, it really depends on your circumstances.

Generally – this document outlining documents needed is a good start, and you can use the deduction checklist to record the expenses you have incurred.

Income

• If you have a rental property use our handy Rental Information Checklist Form 2022

• If you have foreign income – please send details (i.e.) foreign investment statements and also any foreign taxes paid.

• If you have Crypto – please send us the reports for the gains / losses (like Crypto Tax Calculator)

Deductions

• If you have worked from home use our Home Office Expenses Schedule 2022

• If you use your motor vehicle use our Motor Vehicle Expenses Spreadsheet

• If you have made a personal super deduction – please refer to our Super Contributions Article to get the form and steps you need to follow

• If you are on a temporary visa and not entitled to Medicare levy benefits – you will need to complete and submit the Application for a Medicare Entitlement Statement form (MS015)

Engagement letter – please sign and return the SSAS 2022 TAX RETURN ENGAGEMENT LETTER to us together with your information.

SARS

If you need a SARS return completed, these are the documents we need: SARS DOCUMENTATION REQUIREMENTS.

SOLE TRADERS / BUSINESS

In addition to the information required above  for individuals – please provide the information for your business ABN.

Income – Provide total for Income earnt in FY2022 (including GST component if registered)

• If you have a Xero Datafile – ensure that all transactions are reconciled and all invoices are entered up to 30th June 2022.

• If you have a e-store shop front, these programs often have an feature that allows you to extract a summary (csv format preferred) which will detail this information – please provide

• If you keep manual bookkeeping records – you can manually tally this amount from your Sales Invoices issued throughout the year (an excel spreadsheet can be a helpful way for you to record and tally this information)

Deductions/Expenses

If you have a Xero Datafile

• Ensure that all transactions are entered and reconciled up to 30th June 2022 (If the Simple Solutions team conduct bookkeeping for you then we will do this on your behalf)

• Ensure payroll summaries for your employees have been finalised (If the Simple Solutions team process payroll for you then we will do this on your behalf)

• Provide Vehicle details and additional document – See details and checklist in document attached (Deduction checklist and documents needed – Sole Trader)

If you keep manual bookkeeping records – Provide summary for expenses relating to your ABN business

• You can enter figures into the document attached (Deduction checklist and documents – Sole Trader) to record the expenses you have incurred OR you can use the checklist as a guide to create your own summary of expenses – excel spreadsheet preferred. Remember to detail what % is related to the business.

• Ensure payroll summaries have been finalised (If the Simple Solutions team process payroll for you then we will do this on your behalf)

• Provide Vehicle details and additional documents – See details and checklist in document attached (Deduction checklist and documents needed – Sole Trader)

And if you have are overwhelmed and have a shoebox full of receipts – it’s ok, we can help – we can sift through your documents (electronic copies preferred) and create the necessary summaries. Please note though that this work is charged at an hourly fee and is in addition to your tax return preparation fee.

COMPANY OR TRUSTS

In your accounting software please ensure all your bank feeds are reconciled, your STP annual reconciliation is finalised and the 30 June BAS is lodged. This will be completed by the SSAS team where we ae engaged for bookkeeping services.

• Please upload a copy of the 30 June 2022 bank statement for all bank accounts

• Please upload any loan or hire purchase or premium funding statements

• Please upload any inventory stock counts

Thank you for choosing the Simple Solutions Accounting Services Team.

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