How Should You Lodge Business Tax Return 2021

STUART ILES PARTNERS ACCOUNTANTS, TAX AGENTS & BUSINESS ADVISORS How Should You Lodge BUSINESS TAX RETURN The businesses you run determines the methods to lodge the business tax returns in Hobart as well as in Australia. Until October 2021 you can file your 2019/20 tax returns. But if you lodge with the help of a tax agent, then it is May 2021. Even if the 2018/2019 tax returns deadlines have passed, still you can register yourself with a tax agent to receive their help for completing the present years' and IPA |INSTITUTE OF PUBLIC ACCOUNTANTS 2018/2019 tax returns. PARTNERSHIPS Operating a partnership business means, you must lodge the partnership tax returns in the following ways - • In the form of a hard copy • With the help of an ATO registered tax agent • Using the standard business reporting or SBR enabled software SOLE TRADERS As a sole trader, you have to report your business income based on your individual tax return and lodge it in the following ways - • In the hard copy format • Taking help from the ATO registered tax agents • Online using the myTax portal STUART ILES PARTNERS ACCOUNTANTS, TAX AGENTS & BUSINESS ADVISORS COMPANIES For a business operating as a company, as a business owner, you should lodge the company tax return in either of the ways - • Under the guidance of the ATO registered tax agents In the hard copy form • Using the SBR enabled software TRUSTS Being the trustee of the businesses operating as a Trust, you should lodge the tax return following any of these methods - • Following the hard copy format • Assisted by the ATO registered tax agents • Using the SBR enabled software The tax agents hold a specialized facility with the ATO and so they have the permission to lodge the tax returns on your behalf. But keeping up to October 31, 2021, is necessary. So, registering yourself with the tax agent belonging to the certified accountancy firm by October 31, 2021, is necessary to complete the procedures flawlessly. A registered tax agent can always help you by making an appointment with the ATO if you have missed the deadline. In fact, you shall be sure your tax returns will be lodged properly with the tax agent's guidance. SOURCE: www.SIPACCOUNTANTS.COM.AU CIAL EXHIBITIONS