Just a quick note to remind you that if you’ve not yet submitted the information for your 2011 returns, you should probably move quickly.

For most clients, the due date for those returns will be 15th May – so about nine weeks away now. We are keeping track with our three-week average turnaround these days, but that time will fly past before you know it. Appointments are booking out quickly and so if you’d like to come visit us at the office here then we recommend that you call up within the next week or so to make a time. Otherwise, of course, you’re always welcome to email or post your documents in to us instead.

This is also the time that negatively geared investors should consider lodging a variation for the 2012 financial year. With about three months of the financial year left (by the time that the ATO process the forms), it’s the perfect opportunity to get a variation in place to receive your refund back through your paycheque and get a nice cashflow boost in the lead-up to EOFY.

Even if you’ve already lodged a variation for the current year, it’s often worth updating it again as we’re finding that most variations lodged between now and May will result in less than 8% tax withheld from wages for the rest of the financial year… with many clients finding themselves with ZERO tax withheld after already paying enough tax over the last nine months.

As always, the checklists on our tax resources page will give you a good idea on what we’ll be looking for in order to help you out with these things and from there, of course, just shout when you’re ready and we’ll be happy to help.