Annual Tax Return
Prompt, Accurate Returns for
Individuals and Businesses
✔ Enjoy tax efficiencies.
✔ Registered tax agents.
✔ ATO compliance & on-time lodgement.
✔ Remove the worry and stress of annual returns.
✔ Friendly, jargon-free advice.
Annual Tax Returns Sydney
Whether you’re a business or an individual, the stress and worry of preparing and lodging your Annual Tax Return escalate as the due date begins to loom. You know it’s a statutory obligation — but the very thought of the time, complexity, and paperwork involved fills you with dread.
The irony is, that the busier you are, the more complicated your tax. The enterprises and individuals with the least time available often have the most intricate documentation to file.
At DSV Partners, we remove your yearly concern and trepidation.
By taking responsibility for your annual returns, we bring you immense reassurance — knowing that your tax duties are being addressed by the professionals, and you’re released from the shackles of returns. You focus on your life, family, or business — we look after your numbers.
What Is Annual Tax Filing?
Every single year, individuals, businesses, and other entities must complete an Annual Tax Return. It details their incomes and deductions for the past financial year — and from this information, includes a calculation for their tax due or the amount to be refunded.
For most individuals, the financial year runs from the 1st of July to the 30th of June. Many companies also use this same period — however, some utilise an alternative timeframe, if agreed with the ATO, called a substituted accounting period.
Generally speaking, Annual Tax Returns should be completed by:
- Individuals, if earning over the current tax-free threshold.
- Persons holding a Tax File Number (TFN) — if earning below the threshold, they should lodge a ‘Non-Lodgment Advice’.
- Partnerships and sole traders.
- Trusts.
- Companies.
- Self-Managed Superannuation Funds (SMSFs).
The Downsides of Completing a Tax Return Yourself
While it may seem financially beneficial to avoid professional help and complete your own individual or annual business tax return, it often leads to more costs — in time, stress, and tax:
Complexity
Tax regulations in Australia are convoluted and often change. Trying to get your head around the rules increases your worry and anxiety.
Time Cost
Grasping the intricacies of tax obligations and collating all the necessary information for your return drains your valuable time.
Errors
Incorrect calculations or misappropriating expenses and income mean future problems.
Punishments
Late lodgements and mistakes can mean fines, interest, and possible ATO investigations.
Tax Overpayments
Unless you have a deep knowledge of tax legislation, strategies and eligible deductions, you could be overstating your tax liability.
Entity Structures
Tax rules vary from sole traders to companies, trusts to SMSFs, using the wrong regulations can mean major problems.
Compliance
If you fail to comply, by missing lodgement dates or incorrect calculations, this can raise ATO red flags.
Uncertainty and Stress
The worries of being accurate, hitting deadlines, and calculating tax correctly cause you unnecessary mental anguish.
DSV Partners takes away all these concerns, threats, and risks. Our qualified and experienced accountants ensure complete ATO compliance while increasing your tax efficiencies.
DSV Partners’ Tax Return Services
At DSV Partners, our team of Certified Practising Accountants and Chartered Accountants ensure your tax return is expertly and accurately prepared and submitted — whether you’re an individual, company, trust or SMSF:
Individual Tax Return
Whether you’re employed or retired, DSV Partners can help with your annual return. We ensure that all relevant income is precisely recorded, and you take advantage of all eligible deductions:
- Wages and salaries.
- Business Income — for sole traders and ABN holders.
- PAYG summaries and allowances.
- Income from Supers.
- Centrelink income.
- Investment returns, dividends, interest, and capital gains.
- Job-related allowable expenses.
Business Tax Returns (Companies and Partnerships)
Running a business means your annual return tax obligations are complicated further. The type of return, the financial year, tax rates, and eligible deductions can all vary depending on your legal structure. DSV Partners gives you expert guidance and assistance, which may include:
- Company Tax Returns (CTRs).
- Partnership Tax Returns (PTRs).
- Sole trader income (on an individual tax return).
- Fringe Benefits Tax (FBT).
- PAYG instalments.
- BAS reconciliation or lodgement.
Annual Tax Returns for Trusts
Although popular and efficient for asset protection, they demand specific and complex tax reporting. DSV Partners’ knowledgeable accountants accurately complete your trust tax return and associated requirements:
- Reporting of trust income.
- Expense reporting.
- Assessable net income declaration.
- Beneficiary distribution statements.
- Ensuring tax position trust deed compliance.
- Trust capital gains and losses.
Self-Managed Super Funds (SMSFs) Returns
An SMSF brings welcome control to your financial nest egg, but the tax return obligations and rules are rigorous. Our SMSF specialists ensure compliance through services such as:
- Annual financial statements.
- Taxable income and deductions.
- SMSF annual return.
- Liaising with SMSF auditors and your financial advisor.
- Pension contributions.
What To Do if Your Annual Tax Return Is Late or Incorrect
If you’ve missed your Annual Tax Return due date, notice you’ve made a mistake on a lodged return, or have received a penalty notice from the ATO — call us! DSV Partners can’t turn back the clock, but we can bring you or your business reassuringly back on track:
- ATO penalties — we can explore and explain the penalties you are/could be facing and, if appropriate, liaise with the ATO on your behalf for remission.
- Error correction — if you lodged your Annual Tax Return with incorrect data, omissions, or miscalculations, we can submit an amendment return.
- Help you catch up — if you have one or more overdue tax returns, we will work efficiently to prepare and lodge them, minimising penalties and interest.
- Safeguarding against future issues — once current matters are resolved, we will work with you to ensure future timely and accurate returns.
DSV Partners — More Than Just Annual Tax Returns
Our knowledge and expertise at DSV Partners extend much further than simply completing and submitting your tax return. With a professional team of accountants, we take a holistic approach to your financials.
With tailored accounting packages — we deliver unmatched guidance on everything from bookkeeping to tax, and audits to business advice. Supporting you at every turn, we are your long-term partners who want to see you succeed and flourish in every aspect of your personal and business lives.
Why Choose DSV Partners for Yearly Tax Filing?
Because you’re relieved of the stress, time costs, and risks of completing the Annual Tax Return yourself.
At DSV Partners, our accountants ensure accuracy, compliance, and timely lodgement. We take on the responsibility of your tax returns, while you gain peace of mind knowing they’re in safe hands.
With DSV Partners, You Gain the Advantages Of:
Accredited tax agents — listed on the register of tax agents provided by the Tax Practitioners Board.
Tax efficiencies — identifying all eligible deductions and offsets to pay only what you legally owe.
ATO compliance — we ensure your tax return is accurate and submitted on time.
Time and worry savings — you free up your valuable time and avoid the anxiety of navigating complex taxes yourself.
Certified Practising Accountants and Chartered Accountants — only qualified financial professionals deal with your tax return.
Fixed fees — a clear pricing structure means you know what to expect, with no hidden costs.
Sydney-based experts — all our work is done in our Sydney office, with no overseas outsourcing.
Comprehensive additional support — from tax advice to bookkeeping, audits to accountancy.
Friendly, jargon-free advice — tax return advice in a language you understand.
Tax Return FAQs
What Is an Annual Tax Return?
This is basically an individual or business tax report. Submitted every year to the ATO, it outlines a person or entity’s income and deductions from the past financial year. The information forms the basis on which the tax due is calculated.
What Are Allowable Deductions on a Small Business Tax Return in Australia?
Eligible deductions typically include rent, phone bills, utilities, marketing, and accountancy fees. DSV Partners will give you tailored advice on what tax-deductible costs are permitted on your return.
What’s the Deadline for Lodging My Individual Annual Tax Return?
For most individuals and sole traders, the due date is the 31st of October — following the end of their financial year on the 30th of June. However, if you use a registered tax agent — such as DSV Partners — you may receive an extended lodgement deadline.
What Documents Do I Need To Prepare for My Annual Tax Return?
This depends on whether you’re submitting an individual return, or a company, trust, or SMSF return. DSV Partners can advise you on what documentation is required, and then complete the annual return on your behalf.