About Hooper Accountants

Established and based on the Darling Downs, for over 31 years, Hooper Accountants are a trusted and proud local business. Our team pride themselves on extensive knowledge working in and servicing Toowoomba, Pittsworth, Warwick and surrounding areas. With our centrally located offices in Toowoomba, Pittsworth and Warwick, we reach the greater Darling Downs and beyond. Throughout the years, our services have grown to meet clients needs, from traditional accounting and taxation to include self-managed superannuation, auditing, business structures, consulting, valuations and much more.

Whether for a Business or Individual, no matter the size of your needs, we take the time to understand every client’s unique circumstances and deliver the best advice. Our team of professionals have the most up to date knowledge to empower our clients and provide expert advice that you can depend on. By developing a close partnership and understanding of your position, Hooper Accountants work with you to establish the best path for managing your financial situation every step of the way.

At Hooper Accountants, we are committed to achieving excellence while caring for our clients to provide peace of mind and financial comfort.

Hooper Accountants Vision

Create easy business solutions so we can care for our clients through their careers and retirement to provide peace of mind and financial comfort.

Hooper Accountants Mission

We use industry experts and technology managed by qualified professionals, to identify, measure, and communicate information to our clients to permit informed judgments and decisions.

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Questions Frequently Asked

At Hooper Accountants, staff are available to be contacted anytime during business hours via email or phone. You should be in contact with us as often as your Tax or Business requirements deem necessary. This could be once per year to complete your Individual Tax Return, or monthly should your Business needs require it, or at any time a financial circumstance occurs that may have an immediate or future tax implications.

Depending on your tax needs, we have a number of checklists outlining what information may be required to prepare your Income Tax Return. We also offer tax planning services prior to the end of the financial year to assist with estimating your income tax liabilities for the year, and taking measures to minimize tax where possible.

Depending on your individual circumstances, common expenses to keep in mind that you may be entitled to claim as a deduction include the following: Motor vehicle expenses, work clothing/laundry, tools & equipment required for work, professional memberships or registrations, education expenses, mobile phone expenses, costs of managing your tax affairs & donations.

Please keep in mind though, no matter your occupation, or the industry you work in, there are no set deductions or minimum amounts people are entitled to claim without being able to provide an appropriate level of substantiation. In most instances this means being able to provide a receipt or proof of purchase, or providing a detailed log of work related use for motor vehicles/mobile phones/laundry/home office expenses. For more information on what expenses you may be entitled to claim, please see the following summaries provided by the ATO on what is and is not deductible.

https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/

https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Deductions-for-specific-industries-and-occupations/

If you are an Individual or couple/family whose combined Adjusted Taxable Incomes are under $90,000 or $180,000 combined, having private health insurance will not help reduce your income tax. If your income/s go over the aforementioned thresholds, you are normally liable to pay an extra Medicare Levy Surcharge of between 1 & 1.5% of your taxable income. By taking out the appropriate level of private patient hospital insurance cover (Excess of $500 or less for singles, $1000 or less for couples/families), you will not be liable to pay the Medicare Levy Surcharge for the time that you are insured.

If you sometimes work from home, you may be entitled to claim some portion of your home office expenses. What expenses, or portion of expenses you can claim is determinant on your individual circumstances. For more information, please see the following ATO summary surrounding employees working from home.

https://iorder.com.au/publication/Download.aspx?ProdID=75012-5.2018

https://www.ato.gov.au/individuals/income-and-deductions/deductions-you-can-claim/home-office-expenses

A salary sacrifice to super is where you and your employer agree to pay a portion of your pre-tax salary as an additional concessional contribution to your superannuation account. This is typically a tax-effective strategy if you earn more than $37,000 a year. Hooper Accountants can give you professional advice to work out if salary sacrificing is right for you.

At Hooper Accountants we have a team of qualified and experienced Certified Practising Accountants (CPA), and Chartered Accountants (CA). We work directly one on one with our clients to identify and assist their businesses requirements in order to establish the best possible way to manage their accounting needs and help their business grow. There are ways to accelerate growth milestones that can project a business to success.

Each industry, area and category of employment have general types of tax deductions which may apply to them, and some will have special areas of consideration, for example: “Covered non-slip Shoes” for nurses, exemption from the medicare levy for defence personal or annual medical certificate costs for pilots. Hooper Accountants have very experienced staff that are fully conversant with the tax laws and their applicability to specific areas of employment and they know and apply this knowledge to the advantage of their clients to achieve the best tax outcomes for them.

Negative Gearing is when you borrow money to invest, and in regard to investment properties. The income earned from your investment is usually positively or negatively geared. A property is negatively geared when the rental return is less than your interest repayments and outgoings. Hooper Accountants can advise you if this is an option that bests suits your circumstances.

If a property is being used for investment purposes, the Australian Tax Office allows a property investor to claim the decline in value of the building by way of a tax deduction. The amount that can be deducted depends on the age and value of the building but it is varies between 2.5% to 4% of the capital works value of the building each year.

An investor can claim these tax benefits by using the services of the tax depreciation specialist called a Quantity Surveyor who prepares a tax depreciation schedule. A depreciation schedule is a report undertaken by a Quantity Surveyor company. A report should be undertaken when the investor buys the property.

Ready to talk?

The Hooper Accountants team of professionals can advise you on your income tax returns, business financials and more.
Visit or call our us on (07) 4637 9363.

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