Ah, tax time. That wonderful time of year when you remember all the things you set out to do last July to make this July a little easier. If, like us, your good intentions and healthy tax habits diminished as the year rolled on, an Essendon Fields veteran tenant is here to help.

Since 2002, Essendon Fields’ based accounting practice Hoffman & Stops have operated out of Suite 3 at 30 English Street, building a dynamic business with a solid reputation based on the team’s sound ethics and ability to help their clients make the most of their money.

John Andricciola, Principal Director, Lead Accountant and Registered Tax Agent at Hoffman & Stops believes this is the time of the year when everyone should be aware of how tax changes could affect them before they submit their annual tax return.

In order to assist you with your FY23 tax return, John lists his top four tips for the year:

1. If you received a high risk Pandemic Payment from the Australian Government, please note that this payment does not show up in your Centrelink Payment summary and does not prefill into your tax return. Make sure you check your payment history and advise your tax practitioner.
2. Self-education expenses no longer require allowable expenses to be reduced by $250 for all expenses after 1 July 2022.
3. For work related car expenses, the rate has gone up to 78c per kilometre.
4. The working from home rate of claim for deduction is up to 67c per work hour for 2022-2023.

With their office just steps from Essendon Fields Central, John notes that their staff really enjoy the surroundings at Essendon Fields as a great place to meet and assist clients.

“I’ve got to say that numbers are always better when discussed over coffee. When we work with our clients on their tax returns, books or BAS, it’s always good to do that over a cup of premium coffee. We’re quite partial to LaManna Melbourne,’’ he said.

“Tax tends to make people feel uneasy, so the whole experience needs to be created to put people at ease.  We want to come across as being accountants that can get the job done, but without the stress or exorbitant expense of actually getting the job done. So we tick all the boxes and cross all our t’s and dot the i’s,’’ said John.

Of all the options to eat out or enjoy coffee at Essendon Fields, the Hoffman & Stops staff have some personal favourites.

“Chicken Caesar Salad from the fridges at LaManna Melbourne always gives our staff time-saving nutrition to get through the busy working day. We also like the barber shop downstairs to keep us looking sharp for clients, and the fact that Coles is open until late allows us to do a quick click and collect before we head home to our families. Sometimes, after a late night in meetings, a quick bite at Nando’s also does the trick.’’

Tammy Watson, Senior Property Manager for Essendon Fields, notes that Hoffman & Stops have been an imperative part of the precinct since 2002.

“We’re invested in creating an active ecosystem at Essendon Fields that continually thrives, and it’s businesses like Hoffman & Stops who provide top-notch services that play a big role in that. Their dedication to their work and attention to detail are truly commendable,” said Ms Watson.

“We’re innovative and our mission is to ensure that the client gets the best service by using our expertise in this field and keeping the process comprehensible in what is a jungle of tax legislation out there,’’ John finished.

To learn more about Hoffman & Stops please visit our Business Directory here.