Welcome to FY 2022, Happy new financial year!
Every year LMS Advisory releases our updated Tax Return Checklist and Tax Return Preparation Instructions for our valued clients.
Please find attached the 2021 link below :
We will start preparing 2021 tax returns from the week commencing 12th July 2021.
Our service standard is 4 weeks or less turn around from your submission of documents to successful lodgement.
Please remember that if your employer has not finalised your Single Touch Payroll Reporting for 2021, we cannot commence working on your return.
This would be the same as not having received your PAYG Payment Summary or Group Certificate. Your final income for the year is not certain. The most important aspect of the return!
Employers have until 31 July 2021 to complete these due to Covid19 concessions from the ATO. This is normally due by 15th July.
Please don’t harass your employers to finish. They know they need to do it and they are doing the best they can. We are helping many businesses that represent thousands of employees bring their payroll records up to date.
They all want this resolved as quickly as possible, I can assure you.
You will be notified in MyGov when this is ready, and we can regularly monitor this via your ATO Pre-fill.
The MyGov notification will say TAX READY
Please help us by providing as many components of the return checklist as possible when we start working on your returns!
Links to previous checklists can be found below:
2017 and older – Please email us to help you work with the ATO to bring your affairs up to date, as some returns are now quite overdue.
Please do not hesitate to contact us with any questions.
All the best for a prosperous financial year!
Thanks, LMS Advisory Tax Team