2020 Tax Returns

We’ve already started 2020 tax work and have even lodged a few returns!

Send your tax info by myprosperity

As you already know we use myprosperity for sending, signing and storing important documents. myprosperity uses bank level data encryption to keep your data secure.

Your unique password protected account allows you to securely sign tax returns, terms of engagement and other documents. It also stores your documents for future access. This ensures you meet your substantiation requirements.

If you are sending tax information to us, please do so via myprosperity. You can upload scanned or photographed documents to the Docs section. And remember to email us once everything is there so that we can get started straight away!

Meet your obligations

Employers need to make sure they finalise their single touch payroll reporting by the due dates. Those dates are 31 July for those with 19 or less employees and 14 July for businesses employing more than 19 people.

For individuals make sure that your income statement says ‘tax ready’ in myGov before you send your info in. That means that it has been finalised by your employer and we are able to prepare your return.

If you are unsure what deductions you can claim in your return please get in touch.

If you want information about claiming home office expenses please see our blog post here. There is also information available on the ATO website here.

Other news

We said goodbye to Chris from our financial planning team last week. Chris has left to pursue further studies. We thank him for his hard work and wish him all the best for the future.

And finally something really exciting for us – in a few months we are planning to launch our new brand. Stay tuned for more information later this month!

Stay healthy and safe and fingers crossed for a great 2021 financial year!