SVS Management Group Pty, Ltd.

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Bushfire Class Action

Tax Season

Another tax year has come to a close so many of our clients will be gathering their paper work and preparing to come and see us or to send their information to us either electronically or in the mail. With this in mind we would like to highlight some of the information we will need in order to complete your return for this year due to changes from the Australian Taxation Office.

Changes to private health insurance
- For this year every adult covered by a private health insurance policy will receive a Private Health Insurance (PHI) statement from their insurer, it is important that you provide this to us as the details contained within this statement need to be reported on the tax return.

Bank Account Details
- From this year forward any tax return that results in an expected refund is required to include bank account details for the refund to be deposited into. For those clients who like us to deduct their fee from the refund they can continue to use our refund account. For those clients who prefer to pay for their returns upfront you will need to provide current account details before your return can be lodged. Paying for your return upfront can mean getting any refund quicker as having the amount paid directly into your account avoids any potential processing delays.

Net medical expenses rebate
- The government is phasing out the net medical expenses rebate as well as introducing a income test for eligibility. Only those who claim the rebate in 2013 will be eligible to claim again in 2014, therefore it is important that if you have had more than $2120 in out of pocket medical expenses that you provide the details of these.

If you would like to discuss the above changes or any other taxation matter please do not hesitate to contact us.

We tailor our services to your individual needs.

SVS Management Group

10-12 Bell Street, Yarra Glen VIC 3775
Phone (03) 9730 1708 Fax (03) 9730 1091
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