Tax time: working with your accountant
Your April or May review doubles as tax planning before 30 June, and we work with your accountant so you don't have to.
Your accountant prepares and lodges your tax return. We make sure your super, pensions and investments are set up for it, and we talk to your accountant directly, so you don't have to.
Tax planning before 30 June
On ongoing service, Foundations included, your April or May review is also your tax planning session, so there's time to act before 30 June. We look at things like:
- whether this year's pension minimum has been drawn
- contributions to super, and their timing
- capital gains made this year, and any to time around 30 June
- a downsizer contribution, if a home is being sold
- the records your accountant will want
See Your annual review in April or May.
Your accountant, kept informed
The letter of authority you sign at onboarding lets us talk to your accountant directly and ask for your tax returns and records. When your advice is put in place, we tell your accountant what we've done.
What we don't do
We don't prepare or lodge your tax return: that's your accountant's job. Your accountant can tell you whether any of our fees are tax deductible for you.
Ongoing service and the Concierge
On ongoing service, tax planning comes at every April or May review, and we send your tax statements to your accountant every July or August. For the Concierge, we tell your accountant what we've put in place, and the Comprehensive Concierge also coordinates with your accountant on your tax returns and capital gains timing. When your 12 months end, our handover includes a note to your accountant.
For anything about your own money, talk to your adviser.
Questions? Text us on 0489 274 766 or email admin@primeyears.com.au.