Call on us when you need a professional accountant in Perth or anywhere in Australia

For expert advice from a professional accountant, call Texas Business and Accounting Solutions. We offer personalised accounting services to clients in Perth and Australia wide. Our accountants and auditors will help you understand what's happening with your money, and advise you how to maximise its potential. On this page, please find our list of FAQs. For more information, speak with an accountant from Texas Business and Accounting Solutions in Perth.

Q1: Who should lodge a tax return? What income should be declared?


All Australian tax residents must lodge a tax return to the ATO. They must declare their income sourced from Australia as well as income sourced from overseas. Even if you have no taxable income you must let the ATO know. If you are an Australian non-resident for tax purposes, you should lodge a tax return only if you have taxable income sourced from Australia.

 

Q2: What is a self managed Superfund?


A self managed Superfund is a way to manage your superannuation by yourself. As a trustee you can self manage your superannuation only for the benefit of the Superfund, not for yourself. You can withdraw from this fund only when you are eligible according to superannuation law. Different types of rules apply for withdrawing from a superannuation fund once you reached retirement age. For more details please speak to an accountant from Texas Business and Accounting in Perth.

 

Q3: When should I lodge my tax return?


Every financial year (From 01 July to 31 October) you should lodge a tax return. However, if you cannot lodge your tax return in time, you should contact a professional accountant before the 31st of October. Texas Business and Accounting Solutions in Perth is always available to help.

Q4: What changes have been made for the private health insurance rebate?


Before all tax payers received a private health insurance rebate if they had sufficient cover under their private health insurance policy. Some changes have been made from 2013 onward. Private health insurance rebates will now be income tested. Tax payers will get the rebate based on their income. For more information call Texas Business and Accounting Solutions.