Individuals

Individuals

The tax laws are overly complex and to utilize the system to your maximum benefit requires professional assistance. E C A regularly assist clients with the preparation and lodgment of their Individual Tax Returns.   We do our very best to make the tax return lodgment process as efficient, simple and as straight forward as possible.  We have a broad range of experience in individual / personal tax return preparation.  Our principal Accountant has acted for resident employees, employers, contractors, property and share market investors, owners of international property, as well as expatriates, tourists and other non-residents.  We have experience across a broad range of industries, including professional, wholesale, retail, primary production, franchising and other areas.

Returns

Personal Individual Income Tax Return

Your ITR may consist of any of the following – Salary, Wages, Allowance, Directors Fees, Sole Trader Income, Interest, Dividends, Managed Funds, Personal Service Income, Lump Sum Payments, Capital Gains, Rental Property Income,Tax Paid, Work Related Deductions “Occupation Specific”, Interest, Gifts and Donations, Accounting Fees, Losses, Tax Offsets, Medicare Levy and Reportable amounts just to list a few.

Planning your tax strategy

We say ‘We’re here to help.’ East Coast Accountants welcomes the opportunity to help individuals plan your tax saving strategy and assist in the
implementation of your strategy to start saving you tax dollars year after year.

Deductions for specific industries and occupations

Occupation Guide

 

Claiming a computer, phone or other device

Watch the Video

 

Individual Income Tax Rates for Residence and Foreign Residents

Individual Income Tax Rates “Residents”

The following rates for 2016-17
  apply from 1 July 2016

Taxable incomeTax on this income
0 – $18,200Nil
$18,201 – $37,00019c for each $1 over $18,200
$37,001 – $87,000$3,572 plus 32.5c for each $1 over $37,000
$87,001 – $180,000$19,822 plus 37c for each $1 over $87,000
$180,001 and over$54,232 plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 2%
The above rates do not include the Temporary Budget Repair Levy. The Temporary Budget Repair Levy is payable at a rate of 2% for taxable incomes over $180,000

Foreign Residents

If you are a foreign resident for the full year, the following rates apply:

Tax rates 2016–17

Taxable incomeTax on this income
0 – $87,00032.5c for each $1
$87,001 – $180,000$28,275 plus 37c for each $1 over $87,000
$180,001 and over$62,685 plus 45c for each $1 over $180,000

Foreign residents are not required to pay the Medicare levy

The above rates do not include the Temporary Budget Repair Levy. The Temporary Budget Repair Levy is payable at a rate of 2% for taxable incomes over $180,000