Elevate Tax + Accounting

resources

Please see below our constantly growing range of resources and checklists to assist with preparation of your tax return

New Clients

employment tax

small business tax

What are the 2023 ATO Tax Changes?

Removing the self-education expenses threshold

Before 1 July 2022, you were required to reduce your allowable work-related self-education expenses by $250 to calculate your deduction. The $250 non-deductible threshold has been removed from the 2022–23 income year. The changes will also apply to the fringe benefits tax (FBT) year starting on 1 April 2023.

You must continue to maintain records of your deductible self-education expenses. However, you no longer need to keep records of any non-deductible self-education expenses for tax purposes that, prior to the change, were first offset against the $250 non-deductible self-education threshold.

Working from home

The fixed rate method for calculating your deduction for working from home expenses has been revised. The revised fixed rate method is $0.67 per work hour and available from 1 July 2022.

The fixed rate method has been revised to:

  • increase the rate per work hour that you can claim when you work from home

  • change the expenses the rate covers

  • change the record keeping requirements

  • remove the requirement to have a home office set aside for work.

You can also separately claim a deduction for the work-related use of depreciating assets such as office furniture and technology.

If you don't use the revised fixed rate method, you need to use the actual cost method. You can no longer use the shortcut method.

Low and middle income tax offset

The low and middle income tax offset (LMITO) ended on 30 June 2022. It is not available for the 2022–23 income year.

How can I book an appointment?

All appointments need to be booked via our online booking system. Please click here to access the system and follow the prompts to schedule your appointment. There is a video tutorial on this page to help guide you if you get stuck 🙂

Can I book over the phone or via email?

To ensure efficiency and accuracy, we have transitioned to an online booking system. We no longer accept bookings via phone or email. Please use our online scheduling system to book your appointment.

Can I reschedule or cancel my appointment?

Yes, you can reschedule or cancel your appointment via the confirmation email that you received from our online booking system.

Please note that we require a 24-hour notice for cancellations or a $39 rescheduling fee may apply if genuine notice isn't given.

What document do I need to bring for my appointment?

Please refer to our comprehensive lists above to help you get your documents together for your appointment. The ATO pre-fills most payment summaries, private health insurance, bank interest, dividends and other information. 

What are your fees?

Our fees vary depending on the complexity and type of consultation. You can find an overview of our fees for tax return appointments that display in our online booking system. For specific quotes, please contact us at hello@elevatetax.com.au or (08) 972157725.

What forms of payment do you accept?

We accept credit cards, debit cards, bank transfers and cash. Payment is due at the time of the appointment unless prior arrangements have been made. We also have a fee from refund service for an additional administration fee. Please advice reception of this option after your appointment. 

Where are you located?

Our firm is located at 2/1 Ommanney St, Bunbury. We also offer virtual consultations for clients who are not able to visit our office in person via zoom, phone and email. 

What are your opening hours?

Our office is generally open from 9:00 AM to 4:30PM WA time, Monday through Friday.

Please call ahead if you would like to pop in, as we are a family friendly firm we may sometimes change our hours. Since COVID, 50% of our clientele are now located all over Australia, so we are moving away from the need of being a traditional 9-5 firm and offering more remote services and flexibility for our staff. 

During tax time, we open extended hours with some late nights and Saturdays.