CD&G Accountants, FAQ

How much do you charge for an individual tax return?

How much we charge to process your tax return will depend on the complexity of your return, but our standard tax returns for Geelong residents start at just $110 per person.

What can I claim on an investment property?

A lot of property investors don’t realise that they can actually claim a range of different things associated with their investment properties. At CD&G Accountants, we assist property investors claim on things like:

  • Costs associated with advertising the property for lease: things such as signs, print collateral, etc.
  • Property manager or real estate agent fees: fees paid for professionals who find tenants for your property, correspond with tenants and make sure rent is paid are deductible.
  • Interest and bank fees for a property loan: this is done through your personal tax return, note that you can claim loan interest and fees but not the principal sum.
  • Costs for insuring your rental property
  • Council fees
  • Depreciate rebate

You can claim a range of other things associated with your investment property. It’s best to talk with a qualified accountant to find out more about what you can claim, and how to best go about it.

What can’t I claim on an investment property?

While there’s a lot of things you can claim when owning an investment property, there’s also a lot of things you can’t claim. These can include:

  • Any costs occurred through your own personal use of the property.
  • Bills not paid by you, but by tenants.
  • Any costs associated with buying or selling the investment property.

When does my business need to start paying GST and how do I set it up?

Your business needs to start paying GST once it reaches an annual turnover of $75,000 or greater, or if it expected to exceed this amount. You can register for GST online here: www.abr.gov.au

What is a SMSF?

SMSF stands for “self-managed superannuation fund”. For many of our clients in Geelong, SMSFs have been extremely beneficial in retirement planning.

Are CD&G Accountants able to assist in SMSF set up?

Yes we are. We have Geelong accountants who are very experienced in setting up SMSFs as well as coming up with SMSF strategies that will best suit our clients.

What is a BAS?

BAS stands for “Business Activity Statement”. The BAS is a form that all businesses must submit to the ATO to report on their taxation obligations. BAS lodgement must now be done electronically.

Can I salary sacrifice income into my SMSF?

Indeed you can. There are particular rules as to when you can salary sacrifice income into your SMSF as well as limits on amounts that can be deposited. We can advise you on the transition to retirement pension and transition to retirement requirements for salary sacrificing.

Does CD&G Accountants work with businesses in the agricultural industries?

Our CPAs and accountants have extensive experience in the area of Geelong farm accounting and accounting for agriculture.

I understand that the preparation of financial statements is a vital part of my tax compliance. Can I get advice or assistance with this?

Yes you can. CD&G Accountants provide comprehensive financial statements preparation for your business.