What is Individual Tax Return and how to Lodge It?

If you\'re an Australian resident and you earn a salary or an income, you\'ll need to lodge a tax return even if your employer withholds taxes from your pay. For many individuals, personal income tax becomes a more hectic process due to less knowledge of tax. you must declare all your income when you lodge a tax return, you may also be entitled to get a tax refund.

Information need to Lodge Income Tax Return in Australia

• PAYG payment summary which is usually supplied by your employer
• Your Tax File Number (TFN) which can be found on your previous notice of assessment or your payment summary
• Your bank account details; The ATO no longer send refund cheques so any refund will need to be deposited directly into your account
• Details of any additional income such as rental income or investments  
• Bank account interest accumulated
• Details of any other tax offset information, like your partner\'s income details
• Medicare and private health care statements
• Details of any occupation-specific deductions you wish to claim
• Details of any Centrelink payments received

If you want to lodge individual income tax returns in Australia then you have to hire a registered tax agent in Perth. Tax Agents helps you to prepare proper individual tax return because they have a good knowledge income tax. So it is important to hire tax agents if you do not want to be stuck in any legal issue.