Time To Think About EOFY Important Actions For 2020
                     *Accounts NextGen
[email protected]
* No wonder, 2019-2020 has settled in our 
memories with unforgettable experiences. But 
with the end of this financial year, you need to 
review ‘what is your financial position right now.’ 
For instance, everyone is well-acquainted with 
how we are dealing with the global pandemic 
COVID-19 impact.
* Hence, there’s nothing wrong with saying that 
this year will be identified as one of the most 
vexing years that ever had come in the life of any 
businessman. But, amid this problematic 
situation, you should get relief from tax exposure 
and audit risk by regulators. It is vital to take 
help related to the online tax return in 
Melbourne amid this hard time.
*EOFY Important Actions
The End of Financial year has always been one of the busiest and actionable 
times for business owners. EOFY is a great opportunity that advises all 
business owners to think more and create strategies in the New Year.
That’s why it is imperative to gain all the essential information that may help 
you tackle your EOFY.
We advise you on making the future a little less stressful and starting a new 
financial year with full dedication. We always strive to keep you up-to-date 
with the latest situations and online tax return possibilities in Melbourne.
* EOFY- an essential moment for businesses
COVID-19 doesn’t influence any sector. But apart from that, if you have rent 
out your commercial or residential properties, then only a few changes are 
made that come under tax policies.
In the situations of temporary reduced rent or if the tenant is unable to pay 
you rent, you can claim for that as per ATO.
But above from that, if the tenant pays rent, then you will be taxed for this 
income that you’ll have to mention in your online tax return, Melbourne.
Since the deferred interest rate is capitalized, so you can continue to claim 
the interest.
Moreover, if you are an Australian resident and you have a property in another 
country that generates rental income for you. Then you must recognize this 
rental income while filing an online tax return in Melbourne. However, 
during this, you’re also allowed to claim rental income expenses as per the 
conditions stated above.
Ultimately, if you’re planning an online tax return in Melbourne, then well-
organized paperwork will surely make things much easier for you. In this way, 
you save your time as well as save money that’s essential for your business 
amid this global pandemic-COVID-19.
*Rental properties, amid & after COVID-19.
*Thank your For Watching
Accounts NextGen - Tax Accountants Melbourne
Level 19/180 Lonsdale St, Melbourne VIC 3000
(03) 9015 8540
[email protected]
www.accountsnextgen.com.au