With interest rates on the rise many people & businesses are looking to refinance. When you start the process be prepared and it should be smoother and less stressful. We are always here if you need help. Some of the documents you should collate (if applicable) before approaching the bank or lending broker are:
Businesses
- Business (Partnership, Trust or Company) Tax Return
- Financial Statements*
- Business Activity Statements, generally for the past 12 months
- ATO portal accounts for 12 months for both Income Tax and Integrated Client accounts.
- If it is a new application with new lender you may also need to supply (subject to your entity type) Trust Deeds/Variations, Company Constitutions.
*If you use Xero a copy of your finalised Financials should be saved under the tab Account/Reports/ Published. Or most are supplied (either by paper or email) by your accountant at tax year end.
Individuals
- Your latest Tax Return
- Business Activity Statements, generally for the past 12 months
- Year to date income
- ATO portal accounts for 12 months for both Income Tax and Integrated Client accounts.
MyGov
Did you know that some of your information is available in your MyGov account? To obtain copies of your latest tax returns log into your MyGov account, enter the ATO service.
- To obtain your returns, click into ‘Manage tax Returns’
- If you need to obtain details of your income, click into the ‘View my income statements’.
Don’t have a MyGov setup?
The ATO is reducing their paper communication and moving towards sending correspondence to individual MyGov accounts. Below is the link to setup.
https://www.servicesaustralia.gov.au/mygov-help-create-mygov-account
Welsh Tax is happy to assist you in setting up, or navigating your MyGov account. When setting up your MyGov account have ready applicable documents such as licence, passport, medicare card and notice of assessment. If need any help please contact our office on 07 5494 9173.
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