Tax Preparation Checklists 2023

Welcome to a New Financial Year!

Tax Time is here and with a new financial year it brings a number of changes and focus areas for the ATO in 2023.

Working from home deductions is an area that the ATO is continuing to prioritise. Taxpayers can no longer claim the shortcut method of 80 cents per hour that has been applied in prior years. There are two claim methods available which include a revised fixed-rate or the actual cost with documentation to back up claims.

Rental property deductions is again in the spotlight with particular focus on interest-expense claims.

Capital Gains Tax from cryptocurrency, managed investments and property sales. As with last year, the ATO is working with improved data and sources so it is important to ensure assets sold for gain are declared.

Additional Income earners. This year there is a warning from the ATO for Australians working in a “side hustle” to declare this additional income. If you are earning money through repeated activities and making a profit, then you have a business! You must meet the obligations of running a small business including keeping income record and lodging the right type of tax return.


Tax Preparation Resources

To help you prepare and gather all the documentation required to complete this years tax return with a maximum refund, we have a series of Tax Preparation Checklists and Tax Tips available for all AGS Clients. Using this information will help you to navigate tax time with ease and allow us to assess and best advise on your overall financial situation.

Our accountants are ready to start processing your returns. Continue reading to access Tax Tips and Checklists for Individuals, Business Owners, SMSF Owners and Property Investors.


Tax Tips for Individuals 2023

AGS Financial Group Tax Preparation Checklist – Individual 2023


Business Owners

Tax Tips for Small Business 2023

Get your Business Records ready for your tax return 2023

Temporary full expensing is due to end soon – your tax deduction guide 2023

AGS Financial Group Tax Preparation Checklist – Business 2023


Property Investors

Tax Tips for Property Investors 2023

AGS Financial Group Tax Preparation Checklist – Rental Property 2023


Self Managed Super Fund Owners 

Tax Tips for Self-Managed Superfunds 2023


Please be in touch to schedule your 2022/23 Personal, Business, Rental or Investment Tax Returns.

For a quotation or to make an appointment to see an AGS Tax Professional, please contact us or email [email protected].

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