RPS Accountants & Business Advisors
Accountants & Tax Agents in Woodstock
Personal tax returns done right in Woodstock
Does tax time fill you with a small sense of dread every year? You are not alone. Most people are never quite sure if they have claimed everything, or whether something in their return might come back to bite them.
The good news is that a properly prepared return removes both worries at once.
RPS Accountants is a registered tax practice serving Woodstock and Melbourne’s northern suburbs, led by Ravinder Paul Singh, a Chartered Accountant and registered tax agent with extensive experience across personal and corporate accounting. When we prepare your return, we go through your income and deductions question by question, explain everything in plain English, and lodge only once you have approved it.
Accurate, compliant, and with every deduction you are legally entitled to. That is what done right means.
Are you a property investor or landlord?
Rental properties are where the biggest tax mistakes happen, in both directions. Some owners miss thousands in legitimate claims. Others claim things the ATO does not allow, and hear about it later.
We help Woodstock property investors get it right. That means claiming loan interest, property management fees, repairs, insurance and council rates correctly, and setting up a depreciation schedule so you claim the building and its fittings year after year. On a newer property, depreciation alone can add thousands of dollars to your annual deductions.
Negative gearing, positive gearing, co-owned properties, or your first rental. Whatever your situation, we explain what you can claim, what you cannot, and how to keep records the ATO will accept.
Which work-from-home costs can you claim?
If you work from home some or all of the week, you are probably entitled to claim more than you think. The ATO gives you two ways to do it, and choosing the right one can change your refund by hundreds of dollars.
The fixed rate method
One flat rate for every hour you work from home, covering electricity, gas, internet, phone and stationery. Simple, but you need a record of your actual hours, and you cannot claim those bills separately on top.
The actual cost method
Claim the work related share of your real bills, plus depreciation on your desk, chair and computer. More paperwork, but often a bigger deduction if you have a dedicated home office and good records.
Which one is better for you? The answer depends on your hours, your bills and your setup. Bring your details to your appointment and we will calculate both, then claim whichever puts more money back in your pocket.
Capital gains tax advice when you sell
Selling an investment property, shares or crypto? The tax on that sale is often decided long before you sign anything, which is why the best time to talk to us is before you sell, not after.
Capital gains tax works on a simple question: how much did the asset grow in value while you owned it? But the answer is shaped by things people often miss, like purchase costs, improvement costs, and the 50 per cent discount for assets held longer than 12 months.
Say you bought an investment property for $500,000 and sold it for $700,000 after holding it for more than 12 months, with $30,000 in buying and selling costs along the way.
Only $85,000 is added to your taxable income, not $200,000. Timing the sale, keeping every cost record and applying the discount correctly can save you tens of thousands of dollars.
We calculate your gain accurately, apply every concession you qualify for, and where possible help you plan the timing of a sale to reduce the tax before it is locked in.
What to bring for a smooth tax return
The smoother your appointment, the faster your refund. Here is the simple checklist we give every new Woodstock client. Do not stress if you are missing something, because we can pull most income details straight from the ATO.
- Photo ID and your bank details for the refund
- Income statement or PAYG payment summaries
- Receipts for work related expenses
- Work from home hours and bills
- Private health insurance statement
- Bank interest and dividend statements
- Rental property income and expense records
- Records of any shares or crypto sold
- Charity donation receipts
- Last year’s return if you are new to us
Frequently Asked Questions
Q.Do you offer online and in-person appointments?
Yes, both. You can visit us at 136 Gateway Boulevard in Epping, a short drive from Woodstock with parking at the door, or book a phone or video appointment and have your entire return sorted from home. Either way, booking only takes a few minutes and you deal with the same qualified accountant.
Q.Are you a Registered Tax Agent (TPB)?
Yes. RPS Accountants is registered with the Tax Practitioners Board, Registered Tax Practitioner No. 26161185, and our principal Ravinder Paul Singh is a Chartered Accountant and registered tax agent. Using a registered agent means your return is lodged legally on your behalf, you are covered by professional standards, and you usually get extended lodgement deadlines too.
Q.Can you handle audits or late lodgements with the ATO?
Yes, and please do not put it off out of worry. If you are years behind on returns, we bring everything up to date and negotiate with the ATO on penalties. If you receive an audit or review letter, we manage the whole process, respond on your behalf and make sure your position is properly presented. The sooner we start, the more options you have.
Get your Woodstock tax sorted today
Book an appointment with a registered tax agent. It only takes a few minutes, and we will take the stress from there.