Cover Letter

22 August 2017
STRICTLY PRIVATE & CONFIDENTIAL
Mrs Jenny Jones

170 Bell Street
MELBOURNE 3000
Email: [email protected]
Dear Jenny
JENNY JONES GROUP

2017 FINANCIAL STATEMENTS & INCOME TAX RETURNS
Please find enclosed the following:

1. An Electronic Lodgment Declaration and attachments for each of the following for the year
ended 30 June 2017:
Jenny Jones Trust
Jenny Jones
2. A bound copy of the financial statements and income tax returns for the abovenamed for the year
ended 30 June 2017 for your retention.
Please sign the documents marked for signing where indicated. The bound electronic copy of your
financial statements are for your records.
Your Obligations
We have prepared tax return on the information provided by you. Where you have signed a declaration
that directs our office to lodge a return with the Australian Taxation Office (ATO), we will then lodge on
the expectation that you have reviewed the returns and you have confirmed that they are true and
correct. Please check any returns prepared by this office prior to lodgement carefully as the ATO
imposes heavy fines for false or misleading statements.
The financial statements and income tax return should be perused to ensure that they are true and
correct in every detail. We note that the responsibility for the accuracy and completeness of the
particulars of the information provided to this office rests with you. In addition to this, any advice given
to you is opinion based on our knowledge of your particular circumstances. A taxpayer has obligations
under self-assessment to keep full and proper records in order to facilitate the preparation of accurate
return.
The ATO will issue a notice of assessment for tax return lodged. The ATO has time to review the tax
return lodged and issue an amended notice of assessment if they find inaccuracies that change the
notice of assessment. The standard review period for this review by the ATO is two years however for
some tax payers it is four years. On this basis we advise you to keep any documentation used to
prepare any tax returns lodged for a period of four years.
Where we have prepared a report for you, such as financial statements or any other management
reports, we have prepared those reports in accordance with APES 315 Statement of Compilation of
Financial Reports. Please read this statement and the financial statements carefully and if satisfied
sign the attached statement and return to our office.
Please note the following points:

1. Logbook
We have claimed a deduction for motor vehicle expenses used to derive your salary for the year ended
30 June 2017. The deduction is based on your business use percentage being derived from the logbook
you have maintained. While we have not sighted the logbook, we request you keep it available for a
period of five years in the event the ATO conduct an audit of your return. The logbook business use
percentage can be used for motor vehicle claims in future returns (up to a five-year period) provided
the use of the car remains materially the same, being a variance in business use of plus/minus 10
percent. Please call us if you have any questions regarding your responsibilities in respect to this claim.
2. Travel Expenses
We have claimed a deduction for travel expenses you incurred whilst in Italy as you were traveling in
Europe. We understand that your trip was predominately of a private nature. You have advised us
that your travels in Italy relate to a specific tour which you undertook to experience a hotel. Your
experience at the hotel in Italy then became the basis of presentations you used at work to win
contracts. As the cost of this trip is over the substantiation limit as well as being overseas travel we
remind you that for a period of four years you are required to:
a. Keep receipts for costs claimed within this tax return for the year ended 30 June 2017,
and
b. Keep an itinerary and other records to substantiate the purpose of the trip
Please maintain these records for a period of four years.
We note, the presentations you prepared at work on the photos taken and experiences you had would
also be helpful in substantiating the claim.
3. Tax File Number Withholding Tax on bank interest

ANZ Bank is withholding tax on your interest earned within the following bank account:
Account Name: The Jenny Jones Trust
BSB: 001-001
Account Number: 4000-40000
Could you please provide the ANZ Bank with the Tax File Number for The Jenny Jones Trust. If you do
not have the Jenny Jones Trust TFN available please give us a call and we will provide you with this
over the phone. Quoting the TFN to ANZ will cease the bank withholding any tax on interest.
The following is a summary of the tax liability with the lodgement due date for each return:
Tax payer 2017 Tax Payable / Due date for lodgement of tax
(Refundable) return
Jenny Jones Trust ($100.00) 15 May 2018
Jenny Jones ($5,000.00) 15 May 2018
Total: ($5,100.00)
A copy of the applicable tax reconciliations for each entity and a tax summary for the group is
included. These summaries provide a detailed breakdown of the net tax liability above.
Late lodgement penalties or interest charges apply for lodgements beyond the due date listed
above.
We look forward to receiving the documents for signing.
Should you have any queries, please do not hesitate to contact our office.
Yours sincerely,
BOSS PRIVATE CLIENTS PTY LTD

Cover Letter

Uploaded by

Copyright:

Available Formats

Cover Letter

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Cover Letter

Uploaded by

Copyright:

Available Formats

What documents were enclosed with the letter?

What are Jenny Jones' obligations regarding the tax returns?

22 August 2017

STRICTLY PRIVATE & CONFIDENTIAL

Mrs Jenny Jones

JENNY JONES GROUP

Please find enclosed the following:

Please note the following points:

3. Tax File Number Withholding Tax on bank interest

Jenny Jones Trust ($100.00) 15 May 2018

Jenny Jones ($5,000.00) 15 May 2018

We look forward to receiving the documents for signing.

You might also like