Be Tax Smart with Tax Return for Family Day Care Werribee
If you run a Family Day Care (FDC), as either a Business Owner or Educator, we understand that it’s your top priority to manage a successful centre that benefits yourself, your staff and community. A large part of caring for the children at your FDC involves also caring for your business. By ensuring that all of the tax, accounting and business plan processes are correctly managed, you can continue to operate a trustworthy, functional Family Day Care. The first step is to seek the right tax advice, and we can assist you with our expert tax return for Family Day Care Werribee services.
Chuks Iheakor, Principal Accountant
Providing expert services and friendly advice to FDC Schemes and Educators in the Werribee, Eynesbury and surrounding areas, we can assist you with all of your tax and accounting requirements. Offering flexible appointment options, we are Family Day Care tax specialists.
At MAS Tax Accountants Werribee, we are committed to providing detailed, cost-effective tax solutions to Family Day Care Schemes, Business Owners and Educators. Using our up-to-date knowledge, integrated systems and complying with current tax laws, we can provide expert tax return services and advice. With years of experience in the taxation sector and having worked with many FDC clients, we have a thorough understanding of your tax procedures and allowances.
We can assist to legally maximise your tax refund, by helping you to develop a better understanding of your tax responsibilities and options.
This includes evaluating your tax situation and ensuring that you claim all of your eligible deductions, as well as planning for the next financial year and tax season.
Tax Tips for FDCs and Educators
1- Keep all of your receipts – you will need proof of payment to be able to claim a business-related expense back on tax. This includes any receipts, invoices, statements, logbooks and diary entries.
2- Keep well-organised and up-to-date records of your business expenses. So you’ve keep all of your receipts – but are they well-organised? You can easily manage your paperwork and receipts using online bookkeeping software, an Excel spreadsheet or a ringed folder.
3- Keep a vehicle logbook. If you use your car for work-related purposes, you may be able to claim some of the fuel and car expenses on your tax return. It is important that you keep track of your business-related travel in a detailed vehicle logbook, as well as file any fuel or maintenance receipts. Be sure to discuss your logbook options with your Accountant.
DOWNLOAD: A MAS Tax Vehicle Logbook for your business-related travel expenses.
4- Have you considered your GST position? Many Accountants are unaware that a majority of their Family Day Care clients are entitled to an input tax credit by registering for GST. Although it is not compulsory for businesses who earn under a gross $75,000 to register for GST, it does hold some benefits for smaller businesses. Even if your estimated or actual gross income is under $75,000, registering for GST can provide the opportunity to reclaim some of the GST paid on your business expenses. This could include the GST amounts on several operating costs, such as food and items for the children in your care, some household bills, and even your car expenses.
Be tax smart with the best Tax Return for Family Day Care Werribee services! Make sure that you are claiming the full tax amount that you are entitled to. Put money back into your pocket and spend it on the things that you want! Like growing your business, treating the children in your care or spoiling yourself.
Learn more about our Werribee / Eynesbury office, including our Tax Return and Business Accounting services.
For more information or to make an appointment, please contact us below or call us on 1300 627 829
