AVS Advisors

Rental property owner's

🏡 Attention rental property owners: If you’re not sure what you can claim in your tax return, we’re here to help you get it right!

Check out our brand new 2020 rental properties guide for up-to-date explanations, examples and tips to help you get your rental income and deductions right. For more info and to read the guide, visit www.ato.gov.au/individuals/Tax-return/2020/In-detail/Publications/Rental-properties-2020/

Golden Rules for Claiming Deductions

Looking to claim deductions this tax time? If you’re unsure about claiming work-related expenses, remember the three golden rules:
🌟 you must have spent the money yourself and not been reimbursed
🌟 it must be directly related to earning your income
🌟 you must have a record to prove it

From travel and clothing to self-education and home office expenses, find more information at www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/

🚨 SCAM ALERT 🚨 Be on the lookout for a new phone scam claiming your tax file number (TFN) has been suspended!

🚨 SCAM ALERT 🚨 Be on the lookout for a new phone scam claiming your tax file number (TFN) has been suspended!

Recorded phone calls claiming to be from the ATO and other government agencies are trying to trick people into providing personal information. These scammers will tell you there’s a legal case against you, and if you don’t follow instructions and provide the information requested, you’ll be arrested.

⚠️ Don’t follow the prompts, and don’t provide the information requested. We will never send unsolicited pre-recorded messages to your phone, or threaten you with immediate arrest. If you’re ever unsure whether an ATO interaction is genuine, hang up and phone our scam hotline on 1800 008 540. Warn your family and friends to stay alert and visit our scam alerts page to learn more: www.ato.gov.au/General/Online-services/Identity-security/Scam-alerts/

Be Alert!!!

⚠️ SCAM ALERT ⚠️ Watch out for scam text messages impersonating the Government with advice on testing for COVID-19.

These messages try to trick you into installing software that steals your banking details. Delete and do not click the link!

Read more https://www.staysmartonline.gov.au/alert-service/covid-19-scam-messages-targeting-australians and sign up to our free email Alert Service to keep up to date with the latest online threats www.staysmartonline.gov.au/alert-service.

New Scam.....Be Alert!!!!!!

🚨 SCAM ALERT 🚨

Be on the lookout for a new text (SMS) scam, which exploits the recent natural disasters and falsely claims people are entitled to a tax bonus.

Don’t click any links and don’t give out your bank details, even if it looks convincing. Remember 👉 we’ll never send a text asking you to access our online services via a link.

Scammers try to take advantage of people when they’re vulnerable, and we’re doing what we can to shut these scammers down. Warn your friends and family, report any scams you receive, and visit our scam alerts page to learn more: www.ato.gov.au/General/Online-services/Identity-security/Scam-alerts

$20.8 Billion lost in Australian Super!!!!

Did you know that there’s $20.8 billion in lost super across Australia?

If you’ve changed your name, address, job or lived overseas, you have may some lost super waiting to be found 💰💰 Start your hunt at www.ato.gov.au/About-ATO/Research-and-statistics/In-detail/Super-statistics/Super-accounts-data/Lost-and-unclaimed-super-by-postcode

Be Aware!!

Approached by someone who claims you can withdraw your super early? 🤨 Don’t be caught out – in most cases, it’s illegal.

Earlier this week, a New South Wales man was sentenced to jail for arranging the unlawful early release of super for a number of people in the community, and then skimming money off the top. Many of the victims were experiencing financial difficulties when friends said they ‘knew someone’ who could help. Instead, they got caught in an illegal scheme and robbed of their hard-earned funds.

Super is money set aside to provide for your retirement, so there are limited circumstances where you can withdraw it early. Always check with us first and beware of people promoting early release schemes. Find out more at www.ato.gov.au/individuals/super/in-detail/withdrawing-and-using-your-super/illegal-super-schemes---beware-of-offers-to-withdraw-your-super-early

Don't Share Your MYGOV Info

“Hey, send me your myGov username and password and I’ll get you a good refund…” 🤨

If this ☝️ sounds familiar, chances are you’ve been targeted by someone who’s up to no good.

Protect yourself against fraud and never share your myGov login details. Be suspicious if you’re asked to hand over your username or password – there’s no need for anyone but you to access your account. See more security tips at www.ato.gov.au/General/Online-services/Online-security

Few weeks are left!!!!!!

⏰ Tick tock, tick tock, there are just four weeks left on the tax time clock! You have until 31 October to lodge if you’re planning to do your own tax return.

By now, most of your info from employers, banks, government agencies, health funds and other third parties should be pre-filled in your return, making it easy to lodge online.

If you’re using a tax agent for the first time or changing agents this year, be sure to get in touch with them by 31 October.

Either way, time is ticking! Find out more at www.ato.gov.au/Individuals/Lodging-your-tax-return