TAXATION

A2Z Accountants is a registered tax agent preparing Australian income tax returns for individuals, sole traders, partnerships, companies, trusts and self managed super funds. We work with clients from our offices in Hobart and Gregory Hills, including clients in Oran Park and the surrounding south-west Sydney area, and can also work with you by phone and email Australia-wide.

Many returns involve more than one type of income. We review your records, explain how each item is treated and confirm the result with you before anything is lodged with the ATO.

On this page:

• Individual tax returns
• Rental property tax returns and negative gearing
• Capital gains tax
• Crypto tax returns
• Trust tax returns
• Partnership tax returns
• Company tax returns
• SMSF annual returns
• FBT returns
• Tax planning
• Taxation FAQs

Individual Tax Returns

We prepare individual income tax returns for people with employment, business, rental, investment and other income. Whether your return is simple or includes several income sources, we review everything together so your return reflects your full tax position.

Salary and Wage Income

For employees with one or more employers, we prepare your return using your income statements and records, including:

• Salary, wages and allowances from one or multiple employers.
• Work-related deductions.
• Working from home expenses.
• Eligible vehicle and travel expenses.
• Professional memberships and self-education expenses.

Not every expense is deductible. We check whether each expense relates to earning your income, whether you were reimbursed and whether you have the records the ATO requires, such as receipts, logbooks and working-from-home records.

Sole Trader and ABN Tax Returns

We prepare tax returns for sole traders, contractors, freelancers, consultants, tradies, delivery drivers and rideshare drivers. This includes returns where you earn both salary and ABN income in the same year.

• Business income and expenses, including the business schedule in your return.
• Reconciling your income against bank statements, invoices and platform reports.
• Depreciation and other eligible business deductions.
• Identifying whether you have related GST and BAS obligations.

Useful records include invoices, bank statements, expense receipts, rideshare or delivery platform summaries and vehicle logbooks. If your records need tidying up first, see our accounting and bookkeeping services.

Rental Property Tax Returns and Negative Gearing

If you own an investment property, we prepare the rental schedule in your tax return and help you understand how the property affects your overall tax position. We assist with:

• Rental income and property expenses, using your property manager statements and records.
• Interest deductions, based on the purpose of the borrowed funds rather than the security used for the loan.
• Separating repairs and maintenance (generally deductible now) from capital improvements (generally claimed over time or added to the cost base).
• Depreciation and capital works deductions, using a tax depreciation schedule or other suitable information.
• Jointly owned properties, where income and expenses are generally allocated according to each owner’s legal interest.
• Properties rented for only part of the year, used privately or rented as short-term accommodation, where expenses may need to be apportioned.
• Capital gains tax when an investment property is sold.

Negative gearing calculations: a property is negatively geared when its deductible expenses are more than its rental income. Under the current rules, a net rental loss can generally be offset against your other income, such as salary, which may reduce your taxable income. This does not mean every property expense is deductible or that every investor receives a refund. Some costs, such as travel to inspect a residential rental property or second-hand depreciating assets in many properties, generally cannot be claimed by individual investors. We calculate your net rental result and show how it interacts with your other income.

Changes legislated in 2026 will limit negative gearing for residential property to new builds from 1 July 2027. Properties held at 7:30pm AEST on 12 May 2026 are excluded from that change. We can review how the new rules may apply to a property you own or plan to buy.

Records we usually review: property manager statements, loan statements, council rates and water notices, insurance, repair invoices, depreciation schedules, settlement statements, and details of any private use or vacant periods.

Capital Gains Tax

We calculate capital gains and losses when you sell or dispose of:

• Investment properties.
• Shares and ETFs.
• Managed fund investments.
• Cryptocurrency.
• Other relevant investments.

We review acquisition and disposal records, work out the cost base, apply any capital losses and check whether a CGT discount, exemption or concession applies to your circumstances. Eligibility depends on factors such as who owns the asset, how long it was held and how it was used, so these outcomes are not available to everyone.

Legislated changes will replace the 50% CGT discount for individuals, trusts and partnerships with cost base indexation and a 30% minimum tax rate for gains that accrue after 1 July 2027. If you are planning a sale, we can explain which rules are likely to apply.

Cryptocurrency and Digital Asset Tax Returns

We include crypto transactions in your tax return, including:

• Buying, selling and swapping crypto.
• Exchange statements and transaction reports.
• Staking rewards.
• Airdrops and other crypto receipts.

Tax treatment depends on your activity and circumstances. Many disposals are capital gains events, while some receipts, such as staking rewards, are generally treated as income. If you trade as a business, different rules may apply. We review your exchange and wallet reports to work out how each transaction should be treated.

Investment and Other Income

We also include:

• Bank interest.
• Dividends and franking credits.
• Managed fund and ETF distributions, using annual tax statements.
• Trust and partnership distributions.
• Foreign income and foreign tax paid.
• Pensions and other assessable income.

A single return can include salary, a rental property, share sales and fund distributions. We review these together so that income, deductions, offsets and capital gains are reported consistently.

Trust Tax Returns

We prepare annual financial statements and tax returns for family trusts, discretionary trusts and unit trusts. We assist with:

• Business, rental and investment income held in the trust.
• Capital gains and relevant tax adjustments.
• Beneficiary distributions and the tax information each beneficiary needs.
• Distribution resolutions and related documentation within our service scope.
• Coordination with beneficiaries’ individual or company tax returns.

A trust’s accounting income, its taxable income and the cash actually paid to beneficiaries are not always the same amount. Trustee decisions about distributions generally need to be made by the relevant deadline, usually by 30 June, and generally cannot be changed freely afterwards. We recommend reviewing trust results before year end. For help choosing or setting up a structure, see business structuring and registration.

Partnership Tax Returns

A partnership lodges its own tax return reporting the partnership’s net income or loss. The partnership itself does not usually pay income tax. Instead, each partner reports their share of that income or loss in their personal tax return.

We prepare both, including:

• Partnership financial statements and the partnership tax return.
• Business income, expenses and tax adjustments.
• Rental and investment activities held in partnership, where relevant.
• Allocation of partnership income or losses between partners.
• Coordination with each partner’s individual tax return.

Company Tax Returns

We prepare annual financial statements and company tax returns for Pty Ltd companies and small businesses. Our work includes:

• Reconciling accounting profit to taxable income.
• Business deductions, depreciation and tax adjustments.
• Reviewing which company tax rate applies. The lower base rate entity rate depends on turnover and the type of income the company earns, so not every small company qualifies.
• Tax losses and whether the company meets the tests to use them.
• Director and shareholder loans, including Division 7A reviews.
• Dividends, franking accounts and associated documentation.
• PAYG instalments.
• Year-end company tax planning.

Money or assets taken from a company by a director or shareholder can be treated as a taxable dividend if it is not handled correctly. We review loan accounts each year and explain any steps needed before the company’s tax return is lodged.

SMSF Annual Returns

For trustees of self managed super funds, we provide accounting and tax return preparation, including:

• SMSF annual financial statements.
• SMSF annual return preparation and lodgement.
• Bank and investment reconciliations.
• Contributions, investment income, expenses and capital gains.
• Pension-related accounting and reporting, where applicable.
• Coordination with an independent approved SMSF auditor.

Every SMSF must be audited each year by an approved SMSF auditor before its annual return is lodged. The audit is carried out by an independent auditor. We do not audit any fund for which we prepare the accounts. Our role is to prepare the financial statements and return, provide the auditor with the information they request and respond to their queries.

For more about SMSFs, see our self managed super fund services.

Fringe Benefits Tax (FBT) Returns

We prepare FBT returns for employers and help identify and review benefits provided to employees, such as cars, car parking, entertainment and loans. FBT is reported for the year from 1 April to 31 March.

Not every employee benefit attracts FBT, and exemptions or reductions apply only when their conditions are met. We review your records, such as vehicle logbooks, employee declarations and expense details, to work out what must be reported. For pay runs and payroll reporting, see our payroll services.

Tax Planning and ATO Enquiries

Tax planning works best before 30 June. We review your expected income, deductions, planned investment sales, business results and likely tax payable, so you have time to make informed decisions and plan for any tax due. For individuals and small businesses this can include reviewing timing of income and expenses, capital gains on planned disposals and trust distributions. For broader business planning, see business advisory.

If you receive an enquiry or review from the ATO about a return we prepared, we can help you understand what is being asked and prepare a response.

Taxation FAQs

Can you prepare my return if I have both salary and ABN income?

Yes. We include your employment income and your business income and expenses in the same individual tax return, and check whether your ABN activity creates any GST or BAS obligations.

Can you prepare my rental property tax return and review negative gearing?

Yes. We prepare the rental schedule, calculate your net rental income or loss and show how it affects your overall tax position. We also check whether the negative gearing changes that start on 1 July 2027 are relevant to your property.

What records do you need for a rental property return?

Usually your property manager statements, loan statements, rates and insurance notices, repair and maintenance invoices, any depreciation schedule, and details of vacant periods or private use. If you bought or sold the property during the year, we also need the settlement statements.

Can you help calculate CGT after selling property or shares?

Yes. We work out the cost base, capital gain or loss, any available discount or exemption, and include the result in your tax return. Purchase and sale contracts, settlement statements, broker confirmations and records of costs such as stamp duty and legal fees help us calculate this accurately.

Can you include crypto transactions in my tax return?

Yes. Send us your exchange statements or transaction reports. We review buys, sells, swaps, staking rewards and airdrops, and treat each according to your circumstances.

Can you prepare a family trust or unit trust tax return?

Yes. We prepare the trust’s financial statements and tax return, and coordinate the beneficiaries’ tax information. Contact us before 30 June so distribution decisions can be made on time.

Can you prepare a partnership return and the partners’ individual returns?

Yes. We prepare the partnership tax return and each partner’s personal return, so each partner’s share of income or loss is reported consistently.

Can you prepare a company return and review director loans?

Yes. We prepare the company’s financial statements and tax return, and review director and shareholder loan accounts for Division 7A issues each year.

Do you prepare SMSF annual returns and coordinate an independent audit?

Yes. We prepare the fund’s financial statements and annual return, and work with an independent approved SMSF auditor. We do not audit funds whose accounts we prepare.

Can you assist with FBT returns?

Yes. We help employers identify the benefits provided to employees, review the supporting records and prepare the FBT return.

Ready to get your tax return started? Book an appointment with our Hobart tax accountants or our Gregory Hills team, or contact us with your questions.