Your Questions,
Answered Clearly

You don't legally need one — but most people who use a tax agent get a better outcome. We know every deduction, we're up to date with ATO rules, and we're responsible for the accuracy of your return.

The standard deadline for self-lodging is 31 October. If you use a registered tax agent like YSE Finance, you generally have until 15 May of the following year.

Absolutely. Lawrence is fluent in both English and Mandarin Chinese. You can communicate entirely in Mandarin if that's more comfortable for you. Learn more about Mandarin tax support.

The basics: your TFN, payment summaries, bank interest statements, and work-related expense receipts. We'll give you a tailored checklist when you book. See our individual tax return Sydney service.

Common deductions: uniforms, tools, home office expenses, phone/internet, professional development, union fees, and travel between work sites.

Yes — all income must be declared. The good news is related expenses can often be claimed. The ATO has extensive data-matching and will detect undeclared income.

BAS reports GST, PAYG withholding and other obligations. Most small businesses lodge quarterly — due 28 October, 28 February, 28 April, and 28 July. See our small business tax and BAS Sydney service.

It depends on income, liability concerns, and growth plans. We can run through the numbers for your specific situation — book a free consultation.

BAS lodgement deadlines depend on your cycle. Quarterly is due 28 October, 28 February, 28 April, and 28 July. Monthly is due by the 21st of the following month. Annual is due by 31 October.

The instant asset write-off lets eligible small businesses deduct the full cost of assets immediately. In 2024-25 the threshold is $20,000 per asset for turnover under $10 million. Always confirm current thresholds with your tax agent.

You must register for GST if turnover exceeds $75,000 ($150,000 for non-profits). Ride-share and taxi drivers must register regardless of turnover. Registered businesses lodge BAS and remit 1/11th of GST-inclusive sales.

This is one of the most audited ATO areas. Employees have PAYG withholding, super, leave and workers compensation. Contractors invoice for services and manage their own tax. Sham contracting penalties can be severe.

Negative gearing is when rental costs exceed rental income. The loss offsets your other income (e.g. salary), reducing your overall tax bill. A legal and common strategy in Australia.

Usually no — your main residence is generally exempt. Exceptions apply if you rented it out, used it for business, or it wasn't your main residence the whole time.

Yes. The ATO treats crypto as a CGT asset. Selling, trading or using crypto can all trigger tax. Hold for 12+ months and you may get the 50% CGT discount.

Deductible expenses include interest, management fees, council and water rates, insurance, repairs, depreciation, advertising, pest control, gardening and accounting. Capital improvements are added to your CGT cost base, not deducted immediately.

Negative gearing is when property costs exceed rental income. The loss can offset other income, reducing tax. Proposed 2026-27 changes may restrict negative gearing for existing residential properties purchased after 12 May 2026.

Yes. Airbnb and short-term rental income must be declared. Claim deductions only for the rental period. Residential rent is not subject to GST unless turnover exceeds $75,000.

A depreciation schedule lists Division 40 and Division 43 deductions for your investment property. It is not legally required but can boost deductions significantly, often saving $3,000-$8,000 per year.

Selling an investment property triggers CGT on profit. Hold it for more than 12 months and you may get the 50% discount for residents. Add back claimed Division 43 depreciation to reduce your cost base.

Yes. Selling shares, ETFs, managed funds or crypto for a profit triggers CGT. Hold for over 12 months and Australian residents may get a 50% discount. Capital losses can offset gains.

Non-residents generally do not get the 50% CGT discount or main residence exemption. Foreign resident CGT withholding of 12.5% applies to sales of $750,000 or more. Transitional rules may allow partial relief for property held before 9 May 2017.

Australian residents must declare worldwide income, including foreign salary, dividends, interest and rent. Convert amounts to AUD at the exchange rate on the date received. Foreign tax paid may be offset to avoid double taxation.

Yes. Tax agent fees for preparing your tax return are generally deductible. Keep invoices and payment records and claim the amount in the year incurred.

The 6-year absence rule can treat your former home as your main residence for CGT purposes for up to six years after moving out. This may reduce CGT on sale, but conditions apply and you cannot nominate another main residence during the period.

Keep tax records for at least five years from the date you lodge your return. For property and CGT, keep records for the ownership period plus five years after sale. Good records make it easier to claim deductions and handle ATO reviews.

Pricing depends on complexity. We always provide a clear, upfront quote before starting. Book a free consultation and we'll tell you exactly what's involved and what it will cost.

Absolutely — switching is straightforward. We handle the transfer and notify the ATO on your behalf. You don't need to wait until the end of the financial year.

Everything can be done remotely — email, phone, or video call. We have clients all across Sydney and Australia. In-person meetings can also be arranged.