EY TaxChat™

If you are self-employed, working as an independent contractor or freelancer, you are required to complete specific disclosures on the tax return form.

EY tax professionals will ensure you correctly complete your tax return and review your income and expenses to ensure you claim your fair share of tax deductible amounts in your tax return, for example:

• Capital allowances, such as the instant asset write off and depreciation on equipment
• Allowable trading expenses e.g. travel and subsistence, advertising, indemnity insurance

EY professionals will also determine whether any losses can be offset against other income earned by you.

EY tax professionals prepare tax returns for landlords who receive income from property rented in Australia or overseas, including:

• Residential property
• Commercial property
• Short-term accommodation, for example Airbnb

TaxChat provides a convenient platform for you to easily upload rental information. We’ll guide you on how best to claim your deductions, including capital allowance and depreciation. If you own the property with your spouse and we are preparing their return, you only need to provide the details to us once.

Let EY’s team of professionals advise you on what expenses you’re able to claim as tax deductions this year. Our team can ask you the right questions to understand what you can claim, as well as identifying expenses you may have overlooked.

If you have worked overseas during the year or have other foreign income, your dedicated EY professional will assist you to ensure you are fully compliant, reporting the correct amounts at the correct exchange rates.

Foreign tax credits, offsets and double taxation agreements can be a headache – but you can simply chat and upload your documents leaving the rest to EY to give you peace of mind that your return is correct.

If you receive income from shared investments with your spouse, you can input the data once and EY professionals can prepare tax returns for both yourself and your spouse in the one registration. This will allow you to allocate shared income and expenses relating to:

• Interest and dividends
• Rental properties
• Managed investments
• Donation deductions

If you have other related entities that need accounts and tax returns prepared, EY professionals will work with you to accurately record and prepare the required information. These include:

• Companies
• Trusts
• Partnerships
• Self Managed Super Funds

(Sole Trader entities are included in the TaxChat registration)