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H&R Block issues tax lodgement warning

Tax

Tax accounting group H&R Block has issued a warning to taxpayers with just nine days before the 2013/2014 tax return lodgement deadline.

By Staff Reporter 8 minute read

Those who fail to lodge their returns by October 31 face potentially heavy fines and penalties.

Regional director of H&R Block, Mr Frank Brass, said H&R Block have extended open hours, nights and Saturdays to help accommodate clients with busy lives and schedules.

“If you do not have all of your information ready now, make an appointment with us and provided your lodgement history is up to date, you can register to lodge with H&R Block and have your lodgement date extended,” he added.

H&R Block has compiled a quick checklist of the most common items taxpayers need to substantiate income, deductions and rebates/tax offsets and what records are required to back-up their claims.

Income items

  • Statements of all income received during the year: payment summaries, Centrelink statements, compensation and income from jury duty, hobbies and casual labour
  • Sale of shares or other assets, including property
  • Money received from rents, royalties, pensions and tips
  • Employee shares income
  • Interest earned on savings accounts and other investments
  • Dividends received from shares and other investments
  • Business income
  • Overseas income: as an Australian tax resident you are required to declare your worldwide income
  • Investment property income
  • Any other income you have earned

Expenses

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