Handy Tax Time tools, forms, instructions and calculators for client interactions

With Tax Time 2017 just around the corner, and clients likely to start making appointments for you to work on their income tax returns in the not-too-distant future, tax practitioners may find the following tools and calculators to be a useful resource to keep bookmarked (or bookmark this page, since they’re all grouped together here). Handy Tax Time tools, forms, instructions 

Note, if you have accessed the ATO’s low income tax offset calculator in the past, that this calculator has now been decommissioned. If you have clients who are eligible for this offset, inform then that the ATO will calculate this for them when the tax return is lodged.

  • Australian zone list This list can be used to find out whether an Australian place is located in a zone for the purposes of the zone tax offset (see also last entry in this list).
  • Beneficiary tax offset and seniors and pensioner tax offset calculator This calculator will help you determine your client’s eligibility and calculate the amount of seniors and pensioners tax offset or beneficiary tax offset they are able to claim.
  • Business industry code tool The business industry code (BIC) tool allows you to search by main business activity description to find the correct BIC to report on your client’s tax return or schedule. You can also search by ANZSIC code or BIC to check the activities they cover.
  • Depreciation and capital allowances tool This tool will help you calculate the deduction available from a depreciating asset. It will also assist you to calculate the claims your client may be entitled to for capital allowance and capital works purposes.
  • Division 7A calculator and decision tool Determine if a direct transaction by a private company
    to a shareholder or their associate will be deemed a dividend under Division 7A,
    and calculate the minimum yearly repayment required on a loan to avoid a deemed dividend arising under Division 7A.
  • Foreign income conversion calculator This calculator will help convert foreign income into Australian dollars, using either a specific or an average rate of exchange for a range of countries.
  • HECS-HELP benefit From July 1, 2017, the HECS-HELP benefit will be removed. This means the 2016-17 income year is the last your client can claim the HECS-HELP benefit.
  • Home office expenses calculator This calculator will help you work out the deduction your client can claim where a home office is used for income producing purposes. This calculator is available for the current year and the two previous income years.
  • Income tax estimator This calculator will help you work out the tax refund or debt on a given taxable income for the previous three income years.
  • Is my scholarship taxable This calculator will help you work out whether or not your client’s scholarship is taxable.
  • Medicare levy Will help work out the Medicare levy, including any half or full exemptions, and reductions based on family income. This calculator is available for the past three income years.
  • PAYG withholding variation application Complete to vary or reduce the amount of PAYG tax withheld from income paid to your client in the year ending June 30, 2018.
  • Prior years individuals tax return forms and schedules The forms, schedules and associated documents to help complete prior year tax returns
  • Private health insurance rebate calculator Will use your client’s estimated income for surcharge purposes for the current income year to help work out an entitlement to the private health insurance rebate, the rebate percentage that they can claim, and the Medicare levy surcharge rate they would be charged if they don’t have private health insurance.
  • Searching for lost super Form and instructions for super account holders to request a search for lost super using the lost members register and unclaimed super money register.
  • Simple tax calculator Will help work out the tax your client owes on their taxable income for the previous three income years.
  • Study and training loan repayment calculator This calculator will help determine an estimate of the amount of your client’s Higher Education Loan Program (HELP), Student Start-up Loan (SSL), ABSTUDY Student Start-up Loan (ABSTUDY SSL), Trade Support Loan (TSL) or Student Financial Supplement Scheme (SFSS) compulsory repayment.
  • Tax file number (TFN) – Declaration and Application or enquiry (individuals)
  • Tax withheld calculators If you’re client is an employer or another withholding payer, the tax withheld calculators can help work out the tax to withhold from payments made to employees and other workers.
  • Work related car expenses This will help you work out claims for work-related car expenses.
  • Zone or overseas forces tax offset This calculator will help determine your client’s eligibility for a zone or overseas forces tax offset and the tax offset that they can claim for the 2015-16, 2014-15 and 2013-14 income years.