Prouse Family Accountants Joondalup helps families and small businesses in the City of Joondalup area by providing effective accounting, taxation and superannuation services.
Explore our website to find out more about our people, in-office and mobile tax return services and strategic partners. You can complete a form online and become a client or contact us to arrange an appointment.
Find out how we help business clients establish and develop their businesses. Bookkeeping, GST, finance and business advisory services are available.
We can also assist with financial planning and finance, tax effective investment in rental property and self managed superannuation funds (SMSFs).
If you would like additional information about us or any of our services please contact us online or telephone the office on 9400 8400.
If you have an investment property then your are required to include a rental property schedule with your income tax return.
We’ve attached a blank schedule below. It shows the information categories used by the ATO to calculate your rental return.
Download a blank rental property schedule
What can I claim?
Taxpayers with rental properties incur a number of expenses. Most of these are completely tax deductible. These expenses include:
Interest paid on the investment loan - Management fees and charges
- Advertising for tenants
- Council rates and taxes
- Insurance premiums paid
- Body corporate and strata fees
- Repairs and maintenance
- Depreciation on furniture and fittings
For a more exhaustive list, please contact us or register online. If you are thinking of investing in property or have a few unanswered questions then please make an appointment to see one of our friendly accountants.
Don’t forget to ask us how a depreciation report could save you thousands of dollars in tax every year
If you are considering investing in property or have already purchased an investment property then we are the perfect tax accountants for you. Most of us have invested in property ourselves and we are more than happy to help you maximise your returns.
Appointments: please call (08) 9400 8400
The ATO has launched a new awareness campaign to help taxpayers protect themselves against promoters marketing dodgy tax and investment schemes.
From the ATO press release:
Don’t let yourself get a lemon
Are you considering a tax-effective investment?
It’s important you have all the facts to make an informed decision.
The Australian Tax Office recently announced that they will be keeping close tabs on the performance of small businesses and subcontractors. The ATO has released more than 70 industry benchmarks for a wide range of business activities.
The benchmarks look at small business performance (sales, turnover and profit) and the value of costs and inputs (materials, wages, tools etc) and produce a series of guidelines and formulas that help small business owners – and the tax office – measure their actual performance against the benchmarks.
The purpose of benchmarks
- compare a business with others in the industry to assess performance
- check that tax obligations are being met, in particular the recording of all cash transactions
- work out if a business needs to adjust its record-keeping practices, and
- assess whether the Tax Office is likely to select a business for an audit or review.
- identify businesses that may be avoiding their tax obligations.
More than 300 000 taxpayers who have already lodged their 2008/9 tax return are still waiting for the ATO to issue their notice of assessment and pay their tax refunds.
This situation is affecting many of our clients who have lodged after 1 January 2010.
Since the the Tax Office installed a new multimillion-dollar computer system to process claims in January, there is a growing list of delays, glitches, errors and problems.
Recent media coverage about the problem:
- Article: Tax Office admits delays with income tax refunds
- Article: Refunds delayed by new system and Child Support Agency
- Article: ATO sorry your tax refund is overdue
What are we doing to help you?
The most recent MYOB Business Monitor found that some business owners have difficulty with marketing to attract new customers, access to affordable and reliable business advice and getting finance to grow their business.
The MYOB business survey found that getting affordable and reliable business advice was a difficulty for more than one in four Australian small businesses.
Newly established and businesses with fewer than 20 employees had the most difficulty.
