Tax Return Preparation

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Tax Return Preparation

December 8, 2020 | Finance | No Comments

tax return gold coast

Tax Return Gold coast – In the first week of April, thousands upon thousands of people will be flocking to the Gold Coast in an attempt to secure their next tax return. After months of promises and polls being sent by both major parties, many people are now starting to get a true feeling of how much they could benefit from their Labor preferences and how the incoming Government can affect them. The last couple of years have been some of the most stable in terms of personal financial matters for residents of the Gold Coast, making this year’s pre-budget projections by the Commissioner of Taxation particularly interesting. This article examines the areas where Labor has been strongest in the region, and examines why they may be reining back in on issues such as superannuation and company tax.

Tax Return Preparation

With the introduction of superannuation, there was an immediate increase in both total and private pension contributions, with both employers and employees equally supporting the measures. The halving of the company tax rate on investments in certain assets also brought an increase in investment opportunities for Gold Coast residents, with more options opening up for those looking to cash in on the rising value of the city’s real estate market. However, Labor’s main strength has been in its policy areas, specifically their promise to abolish superannuation benefits for people over the age of 50. Although these were initially considered to be well within the means of a progressive party, this policy has now been delayed until after the next election, when it is expected that the cut will be implemented.

There is also some good news for those of you out there who would prefer to keep your money in the traditional accountants gold coast. With the increase in regulation and standards across the board, more accountants in the region are now following suit. As more accountants come to operate solely online, many are even now offering tax return preparation services online. In these times, it is of extreme importance to ensure that all tax returns are filed and received on time, or risk losing your tax rebate. So make sure that you contact your accountant for a free no obligation free financial consultation, so that you can discuss your options in regards to tax planning in Gold Coast.

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