TAX TIME 2017 return...Dear Client, Please find enclosed a checklist to assist in the preparation of your 2017 Income Tax Return. The checklist and all supporting documentation should

Dear Client,

Please find enclosed a checklist to assist in the preparation of your 2017 Income Tax Return.

The checklist and all supporting documentation should be brought with you to your appointment. Call our office to book a time that suits you.

Alternatively, if you prefer, you can post in or email your checklist and supporting documents. Please note in doing so, it does not prioritise the preparation of your tax return over making an appointment.

FFrom July to December, Partners and Senior Accountants will be available for tax return appointments on the following days:

John Cleary 9:00am to 12:00pm Monday 9:00am to 6:00pm Tuesday and Thursday

David Willder 9:00am to 6:00pm Wednesday, Thursday 9:00am to 3:00pm Friday HHeath McCartney 9:00am to 6:00pm Monday, Tuesday and Wednesday 9:00am to 2:00pm Friday

Tom Aldridge 9:00am to 5:00pm Monday and Thursday

Darren Slattery 9:00am to 3:00pm Monday 9:00am to 12:00pm Tuesday 12:00pm to 4:00pm Thursday

Jake Clark 9:00am to 5:00pm Wednesday 11:00am to 4:00pm Friday

In recent years, the Australian Taxation Office has amplified the tax compliance obligations on tax agents therebyincreasing the work involved to complete income tax returns.

If the Tax Office triggers an audit on your tax return, we will be contacted to provide further information including original receipts to support the legitimacy of your claims. This requires extra compliance work and communication with the Tax Office on your behalf and as such a separate fee will be charged.

We advise that this year our minimum fee for preparation of individual income tax returns will be $200.AAdditional fees will be charged for more involved returns, such as those with rental properties.

Rest assured, we will continue to provide excellent tax advice that incorporates yourindividual circumstances and minimises your tax obligations.

TAX TIME 2017

I (Name), …………………………………………………………………………………………………………………………………………..

of (Address),………………………………………………………………………………………………………………………………………

Phone (W): Phone (H):

Client Code: Invoice No:

Hereby irrevocably authorise and request WMC Accoun ng to bank my Income Tax Refund into your Firm’s Trust Account held at The Westpac Bank, 95-97 Moorabool Street, Geelong and therefrom to deduct the costs and fees payable by me for the prepara on of my Income Tax Return totalling $........................... including GST.

I further direct that the balance remaining a er deduc on of the said fees be deposited in the following bank account:

Account Name: ..............................................................................................................................................

BSB: ...................................................................... Account No: ................................................................

I further authorise CPA Australia and appointed Auditors to access trust accounts and records for the purposes of trust account inspec on, quality review or disciplinary proceedings by CPA Australia.

This authority is strictly limited to the engagement referred to in the body of this document.

Yours faithfully

X ................................................... ....................

Date

PAYMENT OF FEES OUT OF INCOME TAX REFUND

Client Name

Address

Suburb Post code

Contact Phone Mobile

E-mail

Bank Details for Refund Deposit BSB Account No.

(NB* The ATO have now made refund deposits into a bank account mandatory)

Did you receive income relating to any of the following categories?

No Yes

No Yes

No Yes

No Yes

No Yes

No Yes

No Yes

No Yes

No Yes

No Yes

Salary and wages/PAYG payment summaries

Centrelink PAYG payment summary

Aust. government pensions and other allowances

Other Australian pensions or annuities

Investment income including interest, dividends and/or distributions

Income from partnerships and/or trusts

Did you have a Capital Gain from a sale of assets?

Foreign source income (incl foreign pensions)

Rental income & expenses

Bonuses from life assurance or friendly society policy

Other income (please specify) No Yes

No Yes

No Yes

If yes, please attach details




If yes, complete attached sheet







PART 1

2017 INDIVIDUAL INCOME TAX RETURN CHECKLIST

INCOME

TAX OFFSETS / OTHER


If yes, please attach statement

- Superannuation contributions on behalf of spouse

- Did you have Private Health Insurance?

Work related car expense claims

Vehicle Type

Kilometre Claim - number of kilometres (< 5,000) # kms

OR

Percentage claim for work use (Log Book) % Work Use

Interest on Loan $ Repairs & services $

Loan payments $ Car washes $

Fuel $ Other $

Registration, insurance & RACV $

Other work related travel expenses

Airfares, train travel, accommodation, meals etc…

Work related uniform & other clothing expenses Other expenses

Protective clothing $ Power & Gas for working at home $

Uniforms $ Computer, internet and software $

Laundry (up to $150 without receipts) $ Home telephone $

Dry cleaning $ Mobile telephone $

Stationery $

Work related self education expenses Tools and equipment $

Name of course and institution: Subscriptions $

Seminars & short courses $

Course Fees (HELP is not deductible) $ Journals / periodicals $

Books $ Sunscreen / sunglasses $

Travel $ Union dues $

Stationery $ Other (please specify)

Other (please specify) $

$ $

$ $

Deductions against investment income:

Loan Interest $ Travel Expenses $

Bank Fees $ Computer Expenses $

Books & Subscriptions $ Other $

Gifts or donations

$

$

$

$

$

Other Information

DEDUCTIONS

INVESTMENT INCOME

Bank account interest

Name of financial institution Account No. $

Dividends: (Please provide details and/or complete)

Name of company Unfranked Franked Imputation Cr TFN amount

Please select

Did you receive a distibution from a Managed Fund? If yes, attach Annual Tax Statement

CAPITAL GAINS

Property

Purchase Cost Sale Price

Date on Contract: Date on Contract:

Settlement Date: Settlement Date:

Stamp Duty Legal Fees to Sell

Title Registration Agents Commission to Sell

Legal Fees to Purchase Selling Costs

Selling Date: Selling Date:

Shares/Investments

Name of Shares

Number of Shares

Purchase Date:

Purchase Cost incl. Brokerage

Selling Cost incl. Brokerage

Name of Shares

Number of Shares

Purchase Date:



Selling Date: Selling Date:

Name of Shares

Number of Shares

Purchase Date:



Name of Shares

Number of Shares

Purchase Date:



PART 2

2017 INDIVIDUAL INCOME TAX RETURN CHECKLIST

Please select

RENTAL INCOME & EXPENSES

PROPERTY 1 Address

Suburb State Post code

Date first earned income No. weeks property was rented this year

PROPERTY 2 Address



PROPERTY 3 Address



Please provide details or complete Property 1 Property 2 Property 3

Income $ $ $

Rent

Expenses

Advertising

Agent's Commission

Bank Charges

Body Corporate Fees

Council Rates

Gardening/Lawn Mowing

Insurance

Interest

Land Tax

Letting Fee

Repairs & Maintenance

Stationery, Telephone & Postage

Travel

Water Rates

Other (please list)

Capital Expenses over $300

Please list items including purchase date

If new property, we require the following:-

Statement of Adjustments on purchase

Stamp Duty cost Loan Establishment and other costs

Registration of Title costs Loan Statements

Legal Fees on Purchase Quantity Surveyors Report or List of Depreciable Assets

You may be aware of the changes taking place in the accounting industry in relation to the provision of Self Managed Superannuation Fund (SMSF) and superannuation advice in future.

As of the 1st of July 2016, we will not be able to legally advise you about SMSFs and superannuation related issues unless we are licensed under an Australian Financial Services (AFS) licence.

Basic questions that will need to be answered under a licence include:

• How much should I contribute into super?

• Should I direct some of my company profit to super?

• When do you think I should start my super pension?

• What is the best structure to purchase property in my SMSF?

In order to ensure we are meeting our clients’ expectations in relation to advice and to maintain our service standards, we have decided to join an AFS licence.

Being authorised under an AFS licence does require us to adjust the way in which we provide our superannuation advice to you:

• When we provide advice for the first time, we will provide you with a FinancialServices Guide (FSG) which we will ask you to sign off.

• The information that supports our recommendations (your current situation andobjectives) will need to be documented and held on file.

• Any advice given to you will be presented in writing in a document called aStatement of Advice (SOA). This will also require your sign off.

While these things will change in the delivery of our service, we have worked to ensure that this will have minimal impact on our day-to-day dealings with our clients.

We felt that it was important to communicate these changes so you are aware of what to expect when we next discuss superannuation.

If you wish to discuss the above matter in more detail, please feel free to contact us on 03 5222 3200.

The Future of Superannuation Advice

ENGAGEMENT BROCHURE

This brochure is to confirm our understanding of the terms of our engagement and the nature and limitations of the services we will provide.

Purpose, Scope and Output of the Engagement

This firm will provide Taxation services which will be conducted in accordance with the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB), and Tax Agent Services Act 2009. The extent of our procedures will be limited exclusively for this purpose. As a result, no audit or review will be performed and, accordingly, no assurance will be expressed. Our engagement cannot be relied upon to disclose irregularities including fraud, other illegal acts and errors that may exist. However, we will inform you of any such matters that come to our attention.

The engagement will include the operations and procedures of the Client as agreed if applicable to the circumstances.

Our professional services are conducted and the necessary tax return will be prepared for distribution to the relevant specific organisation or party for the purpose specified in the report or as agreed. We disclaim any assumption of responsibility for any reliance on our professional services to any party other than as specified or agreed, and for the purpose which it was prepared. Where appropriate, our report will contain a disclaimer to this effect.

Responsibilities

In conducting this engagement, information acquired by us in the course of the engagement is subject to strict confidentiality requirements. That information will not be disclosed by us to other parties except as required or allowed for by law, or with your express consent.

We wish to advise that our firm's system of quality control has been established and maintained in accordance with the relevant APESB standard. As a result, our files may be subject to review as part of the quality control review program of CPA Australia which monitors compliance with professional standards by its members. We advise you that by accepting our engagement you acknowledge that, if requested, our files relating to this engagement will be made available under this program. Should this occur, we will advise you.

Clients are responsible for the reliability, accuracy and completeness of the accounting records, particulars and information provided and disclosure of all material and relevant information. Clients are required to arrange for reasonable access by us to relevant ndividuals and documents, and shall be responsible for both the completeness and accuracy of the information supplied to us. Any advice given to the Client is only an opinion based on our knowledge of the Client's particular circumstances.

A taxpayer is responsible under self assessment to keep full and proper records in order to facilitate the preparation of a correct return. Whilst the Commissioner of Taxation will accept claims made by a taxpayer in an income tax return and issue a notice of assessment, usually without adjustment, the return may be subject to later review. Under the taxation law such a review may take place within a period of up to [ 3 ] years after tax becomes due and payable under the assessment. Furthermore, where there is fraud or evasion there is no time limit on amending the assessment. Accordingly, you should check the return before it is signed to ensure that the information in the return is accurate.

Where the application of a taxation law to your particular circumstances is uncertain you also have the right to request a private ruling which will set out the Commissioner's opinion about the way a taxation law applies, or would apply, to you in those circumstances. You must provide a description of all of the facts (with supporting documentation) that are relevant to your scheme or circumstances in your private ruling application. If there is any material difference between the facts set out in the ruling and what you actually do the private ruling is ineffective.

If you rely on a private ruling you have received, the Commissioner must administer the law in the way set out in the ruling, unless it is found to be incorrect and applying the law correctly would lead to a better outcome for you. Where you disagree with the decision in the private ruling, or the Commissioner fails to issue such a ruling, you can lodge an objection against the ruling if it relates to income tax, fuel tax credit or fringe benefits tax. Your time limits in lodging an objection will depend on whether you are issued an assessment for the matter (or period) covered by the private ruling.

Period of Engagement

This engagement will start upon acceptance of the terms of engagement by you, the Client, in line with this brochure. We will not deal with earlier periods unless you specifically ask us to do so and we agree.

Fees

The fee arrangement is based on the expected amount of time and the level of staff required to complete the relevant services as agreed. Fee invoices are payable within 14 days of issue.

Limitation of Liability

Our liability is limited by a scheme approved under Professional Standards Legislation. Further information on the scheme is available from the Professional Standards Councils' website: http://www.professionalstandardscouncil.gov.au.

Ownership of Documents

All original documents obtained from the client arising from the engagement shall remain the property of the client. However, we reserve the right to make a reasonable number of copies of the original documents for our records. Our engagement will result in the production of electronic documents or files, which will be supplied to the client. Ownership of these documents will vest in you. All other documents produced by us in respect of this engagement will remain the property of the firm.

Confirmation of Terms

Acceptance of our services in conjunction with this information brochure indicates that you understand and accept the arrangements. This information will be effective for future engagements unless we advise you of any change.

LIABILITY LIMITED BY A SCHEME APPROVED UNDER PROFESSIONAL STANDARDS LEGISLATION