Financial Statements

Watcon Builders
ABN 27 623 868 842
For the year ended 30 June 2022
Prepared by Carwardine & Associates
Contents
3 Compilation Report

4 Directors Declaration

5 Trading Statement

6 Profit and Loss

7 Balance Sheet

9 Statement of Cash Flows - Direct Method

10 Notes to the Financial Statements

Financial Statements Watcon Builders Page 2 of 11

Compilation Report
Watcon Builders
For the year ended 30 June 2022
We have compiled the accompanying special purpose financial statements of Watcon Builders, which comprise the balance
sheet as at 30 June 2022, the income statement, the statement of cash flows, a summary of significant accounting policies and
other explanatory notes. The specific purpose for which the special purpose financial statements have been prepared is set out
in Note 1.

The Responsibility of the Directors

The directors of Watcon Builders are solely responsible for the information contained in the special purpose financial
statements, the reliability, accuracy and completeness of the information and for the determination that the basis of accounting
used is appropriate to meet their needs and for the purpose that financial statements were prepared.

Our Responsibility

On the basis of information provided by the directors we have compiled the accompanying special purpose financial statements
in accordance with the basis of accounting as described in Note 1 to the financial statements and APES 315 Compilation of
Financial Information.

We have applied our expertise in accounting and financial reporting to compile these financial statements in accordance with
the basis of accounting described in Note 1 to the financial statements. We have complied with the relevant ethical
requirements of APES 110 Code of Ethics for Professional Accountants.

Assurance Disclaimer

Since a compilation engagement is not an assurance engagement, we are not required to verify the reliability, accuracy or
completeness of the information provided to us by management to compile these financial statements. Accordingly, we do not
express an audit opinion or a review conclusion on these financial statements.

The special purpose financial statements were compiled exclusively for the benefit of the directors who are responsible for the
reliability, accuracy and completeness of the information used to compile them. We do not accept responsibility for the contents
of the special purpose financial statements.

Carwardine & Associates Pty Ltd

180 South Pine Road, Enoggera

Dated: 12 October 2022

Financial Statements Watcon Builders Page 3 of 11

Directors Declaration
Watcon Builders
For the year ended 30 June 2022
The directors have determined that the company is not a reporting entity and that this special purpose financial report should
be prepared in accordance with the accounting policies outlined in Note 1 to the financial statements.

The directors of the company declare that:

1. The financial statements and notes, present fairly the company’s financial position as at 30 June 2022 and its
performance for the year ended on that date in accordance with the accounting policies described in Note 1 to the
financial statements; and
2. In the directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and
when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Julian watson
Julian watson (Oct 13, 2022 05:15 GMT+10)

Julian Watson

Director

Date: 1213-Oct-2022
October 2022

Financial Statements Watcon Builders Page 4 of 11

Trading Statement
Watcon Builders
For the year ended 30 June 2022
NOTES 2022 2021

Trading Income
Sales
Revenue 467,325 443,814
Total Sales 467,325 443,814

Cost of Sales
Purchases 27,170 51,054
Total Cost of Sales 27,170 51,054

Gross Profit 440,156 392,760

Gross Profit (%) 94 88

The accompanying notes form part of these financial statements. These statements should be read in conjunction with the attached
compilation report.

Financial Statements Watcon Builders Page 5 of 11

Profit and Loss
Watcon Builders
For the year ended 30 June 2022
NOTES 2022 2021

Income
Trading Profit 440,156 392,760
Total Income 440,156 392,760

Other Income
Interest Income 3 18
JobKeeper Payments - 67,500
Total Other Income 3 67,518

Total Income 440,159 460,278

Expenses
Bad debts 6,025 -
Bank Fees 122 200
Cleaning 90 -
Consulting & Accounting 3,580 3,480
Contractors 22,866 6,378
Depreciation 10,062 11,711
General Expenses 3,611 4,636
Insurance 2,739 2,696
Interest Expense 1,343 1,593
Legal expenses - 273
Motor Vehicle 20,110 13,301
Office Expenses 946 3,244
Printing & Stationery 583 -
Protective clothing 889 711
Rent - 10,400
Repairs and Maintenance 722 -
Subscriptions 1,246 1,490
Superannuation 34,660 31,518
Telephone & Internet 4,109 2,534
Tools 14,125 18,716
Travel and Accommodation 964 1,673
Wages and Salaries 368,848 344,329
Workcover 1,176 9,827
Total Expenses 498,816 468,712

Profit/(Loss) before Taxation (58,657) (8,434)

Net Profit After Tax (58,657) (8,434)

The accompanying notes form part of these financial statements. These statements should be read in conjunction with the attached
compilation report.

Financial Statements Watcon Builders Page 6 of 11

Balance Sheet
Watcon Builders
As at 30 June 2022
NOTES 30 JUN 2022 30 JUN 2021

Assets
Current Assets
Bank Accounts and Cash
Watcon Savings 41,211 29,831
Watcon Transaction 36,137 19,790
Cash on Hand 60 60
Total Bank Accounts and Cash 77,407 49,681

Taxation Assets
Income Tax Payable - 1,455
Integrated Client Account 1,676 60,463
Total Taxation Assets 1,676 61,918

Receivables
Account Receivable 23,475 26,251
Total Receivables 23,475 26,251

Total Current Assets 102,558 137,850

Non-Current Assets
Property, Plant and Equipment
Motor Vehicle 121,425 63,706
Less: Accumulated Depreciation Motor Vehicle (54,374) (50,262)
Plant & Equipment 35,000 35,000
Less: Accumulated Depreciation Plant & Equipment (26,490) (20,540)
Office Equipment 908 908
Less Accumulated Depreciation on Office Equipment (908) (908)
Total Property, Plant and Equipment 75,561 27,904

Intangibles
Borrowing Costs 450 -
Total Intangibles 450 -

Total Non-Current Assets 76,011 27,904

Total Assets 178,569 165,754

Liabilities
Current Liabilities
Bank Overdraft - 106

Taxation Liability
GST 5,150 13,860
Income Tax Instalment Payable - 485
PAYG Withholdings Payable 21,414 23,584
Total Taxation Liability 26,564 37,929

Payables

The accompanying notes form part of these financial statements. These statements should be read in conjunction with the attached
compilation report.

Financial Statements Watcon Builders Page 7 of 11

Balance Sheet

NOTES 30 JUN 2022 30 JUN 2021

Superannuation Payable 15,464 666

Total Payables 15,464 666

Total Current Liabilities 42,027 38,702

Non-Current Liabilities
Shareholder Accounts 126,460 110,794

Hire Purchase Agreements

Hire Purchase - Ford Ranger 9,600 21,119
Less Unexpired Charges - Ford Ranger (271) (1,221)
Hire Purchase - 2022 Kia Sorento 78,711 -
Unexpired Interest - 2022 Kia Sorento (15,660) -
Total Hire Purchase Agreements 72,379 19,898

Total Non-Current Liabilities 198,839 130,693

Total Liabilities 240,867 169,394

Net Assets (62,297) (3,641)

Equity
Retained Earnings (62,297) (3,641)
Total Equity (62,297) (3,641)

The accompanying notes form part of these financial statements. These statements should be read in conjunction with the attached
compilation report.

Financial Statements Watcon Builders Page 8 of 11

Statement of Cash Flows - Direct Method
Watcon Builders
For the year ended 30 June 2022
2022

Operating Activities
Receipts From Customers 477,328
Payments to Suppliers and Employees (433,394)
Interest Received 3
Finance Costs (1,343)
Cash Receipts From Other Operating Activities 35,914
Cash Payments From Other Operating Activities (92,258)
Net Cash Flows from Operating Activities (13,749)

Investing Activities
Payment for Property, Plant and Equipment (57,720)
Other Cash Items From Investing Activities (450)
Net Cash Flows from Investing Activities (58,170)

Financing Activities
Proceeds from Borrowing 17,024
Repayment of Borrowings (1,359)
Net Cash Flows from Financing Activities 15,666

Other Activities
Other Activities 84,085
Net Cash Flows from Other Activities 84,085

Net Cash Flows 27,833

Cash and Cash Equivalents

Cash and cash equivalents at beginning of period 49,575
Cash and cash equivalents at end of period 77,407
Net change in cash for period 27,833

Financial Statements Watcon Builders Page 9 of 11

Notes to the Financial Statements
Watcon Builders
For the year ended 30 June 2022
1. Statement of Significant Accounting Policies

The directors have determined that the company is not a reporting entity and accordingly, this financial report is a special
purpose report prepared for the sole purpose of distributing a financial report to members and must not be used for any other
purpose. The directors have determined that the accounting policies adopted are appropriate to meet the needs of the
members.

The financial report has been prepared on an accrual basis and under the historical cost convention, except for certain assets,
which, as noted, have been written down to fair value as a result of impairment. Unless otherwise stated, the accounting policies
adopted are consistent with those of the prior year.

The accounting policies that have been adopted in the preparation of the statements are as follows:

Income Tax
The income tax expense for the year comprises current income tax expense. The company does not apply deferred tax. Current
income tax expense charged to the profit or loss is the tax payable on taxable income calculated using applicable income tax
rates enacted, or substantially enacted, as at 30 June 2022. Current tax liabilities are therefore measured at the amounts
expected to be paid to the relevant taxation authority.

Inventories
Inventories are carried at the lower of cost or net realisable value.

Property, Plant and Equipment

Property, plant and equipment is initially recorded at the cost of acquisition or fair value less, if applicable, any accumulated
depreciation and impairment losses. Plant and equipment that has been contributed at no cost, or for nominal cost, is valued
and recognised at the fair value of the asset at the date it is acquired. The plant and equipment is reviewed annually by directors
to ensure that the carrying amount is not in excess of the recoverable amount from these assets. The recoverable amount is
assessed on the basis of the expected net cash flows that will be received from the utilisation of the assets and the subsequent
disposal. The expected net cash flows have been discounted to their present values in estimating recoverable amounts.

Freehold land and buildings are measured at their fair value, based on periodic, but at least triennial, valuations by independent
external valuers, less subsequent depreciation for buildings.

Increases in the carrying amount of land and buildings arising on revaluation are credited in equity to a revaluation surplus.
Decreases against previous increases of the same asset are charged against fair value reserves in equity. All other decreases are
charged to profit or loss.

Any accumulated depreciation at the date of revaluation is offset against the gross carrying amount of the asset and the net
amount is restated to the revalued amount of the asset.

Intangibles
Goodwill is recognised as the excess of the purchase price for a business acquired over the fair value of the net assets at the date
of acquisition. Goodwill is assessed for impairment annually and is carried at cost less accumulated impairment losses.

Trade and Other Receivables

Trade receivables and other receivables, including distributions receivable, are recognised at the nominal transaction value
without taking into account the time value of money. If required a provision for doubtful debt has been created.

These notes should be read in conjunction with the attached compilation report.

Financial Statements Watcon Builders Page 10 of 11

Notes to the Financial Statements

Financial Assets
Investments held are originally recognised at cost, which includes transaction costs. They are subsequently measured at fair
value which is equivalent to their market bid price at the end of the reporting period. Movements in fair value are recognised
through an equity reserve.

Trade and Other Payables

Trade and other payables represent the liabilities for goods and services received by the company that remain unpaid at 30 June
2022. Trade payables are recognised at their transaction price. They are subject to normal credit terms and do not bear interest.

Provisions
Provisions are recognised when the entity has a legal or constructive obligation resulting from past events, for which it is
probable that there will be an outflow of economic benefits and that outflow can be reliably measured. Provisions are measured
using the best estimate available of the amounts required to settle the obligation at the end of the reporting period.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, deposits held on call with banks, other short-term highly liquid investments
with original maturities of three months or less, and bank overdrafts.

Goods and Services Tax

Transactions are recognised net of GST, except where the amount of GST incurred is not recoverable from the Australian
Taxation Office (ATO).

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable
from, or payable to, the ATO is included with other receivables or payables in the balance sheet.

These notes should be read in conjunction with the attached compilation report.

Financial Statements Watcon Builders Page 11 of 11

COMPANY TAX RETURN Watcon Builders Pty Ltd

Company Tax Return 2022

1 Jul 2021—30 Jun 2022 TFN Recorded

PART A ELECTRONIC LODGMENT DECLARATION (FORM C)

This declaration is to be completed where the tax return is to be lodged to the ATO electronically. It is the responsibility of the
taxpayer to retain this declaration for a period of five years after the declaration is made, penalties may apply for failure to do
so.

Privacy
Taxation law authorises the ATO to collect information including personal information about the person authorised to sign the
declaration. For information about your privacy go to ato.gov.au/privacy.

Electronic Funds Transfer – Direct Debit

Where you have requested an EFT direct debit some of your details will be provided to your financial institution and the Tax
Office's sponsor bank to facilitate the payment of your taxation liability from your nominated account.

Tax File Number Name of Company Year

TFN Recorded Watcon Builders Pty Ltd 2022

Important
Before making this declaration please check to ensure that all income has been disclosed and the tax return is true and correct
in every detail. If you are in doubt about any aspect of the tax return, place all the facts before the Tax Office. The tax law
provides heavy penalties for false or misleading statements on tax returns.

Authorisation
By signing this document, I authorise my tax agent to electronically transmit this tax return.

Declaration - I declare that:

the information provided to my registered tax agent for the preparation of this tax return, including any applicable
schedules is true and correct, and
the agent is authorised to lodge this tax return.

Signature of public officer Date

Julian watson
Julian watson (Oct 13, 2022 05:15 GMT+10)
13-Oct-2022
PART D TAX AGENTS CERTIFICATE (SHARED FACILITIES USERS ONLY)

Client Ref Agent Ref No. Contact Name Contact No.

WA5900B 24662736 John Ryan 07 33551800

Declaration - I declare that:

I have prepared this tax return in accordance with the information supplied by the public officer.
I have received a declaration made by the entity that the information provided to me for the preparation of this tax return
is true and correct.
I am authorised by the public officer to lodge this tax return, including any applicable schedules.

Agent's Signature Date

Company Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 1 of 12
COMPANY TAX RETURN Watcon Builders Pty Ltd

Company Tax Return 2022

1 Jul 2021—30 Jun 2022 TFN Recorded

COMPANY DETAILS

Tax File Number Australian Business Number Final tax return

TFN Recorded 27 623 868 842 No

Company name Previous company name In liquidation

Watcon Builders Pty Ltd No

Australian Company Number Australian Registered Body Number (ARBN)

CURRENT POSTAL ADDRESS PREVIOUS POSTAL ADDRESS BUSINESS ADDRESS

C/- Carwardine & Associates 34 Oxbow Crescent

PO Box 75 LAWNTON
Alderley

State Postcode State Postcode State Postcode

QLD 4051 QLD 4501

Country - if not Australia Country - if not Australia Country - if not Australia

YOUR BANKING INFORMATION (EFT DETAILS)

BSB Number Account Number Account Name

TAX AGENT CONTACT DETAILS

Agent Name Agent Ref Number Contact Number

John Ryan 24662736 07 33551800

PUBLIC OFFICER CONTACT DETAILS

Title Given name Other given names Family name

Mr Julian Pierre Watson

Suffix Phone area code Phone number Contact name

07 33551800 John Ryan

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COMPANY TAX RETURN Watcon Builders Pty Ltd

2 DESCRIPTION OF MAIN BUSINESS ACTIVITY Building, residential - flats, home units, apartments, etc

Industry code B 30190

3 STATUS OF COMPANY

Residency C1 - Resident

Type of company D9 - Private

Small business entity Yes

Base rate entity Yes

Information statement
6 CALCULATION OF TOTAL PROFIT OR LOSS

Income

Other sales of goods and services C $431,411.00

Gross interest F $3.00

Other gross income $35,914.00

Total Other gross income R $35,914.00

Total Income S $467,328.00

Expenses

Cost of sales A $27,170.00

Contractor, sub-contractor and commission expenses C $22,866.00

Superannuation expenses D $34,660.00

Bad debts E $6,025.00

Interest expenses within Australia V $1,343.00

Depreciation expenses X $10,062.00

Other depreciation $10,062.00

Motor vehicle expenses Y $20,110.00

Repairs and maintenance Z $722.00

All other expenses S $403,028.00

Total expenses Q $525,986.00

Total Loss (S minus Q) T $58,658.00

Reconciliation
7 RECONCILIATION TO TAXABLE INCOME OR LOSS

Total profit or loss amount shown at T item 6 T $58,658.00

Did you have a CGT event during the year? G No

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COMPANY TAX RETURN Watcon Builders Pty Ltd

Losses carried forward

Net Capital Losses from Collectables $0.00

Other Net Capital Losses $0.00

Non-deductible expenses W $10,062.00

Subtotal $10,062.00

Less

Deduction for decline in value of depreciating assets F $10,062.00

Subtraction items subtotal $10,062.00

Taxable/net loss T $58,658.00

Financial Information
8 FINANCIAL AND OTHER INFORMATION

Purchases and other costs S $27,170.00

Trade debtors C $23,475.00

All current assets D $102,559.00

Total assets E $178,570.00

All current liabilities G $42,028.00

Total liabilities H $240,868.00

Opening franking account balance P $2,766.00

Closing franking account balance M $1,311.00

Other Information
13 LOSSES INFORMATION

Tax losses carried forward to later income years U $67,091.00

14 PERSONAL SERVICES INCOME

Does your income include an individual’s personal services income? N No

25 REPORTABLE TAX POSITION

Are you required to lodge a reportable tax position schedule? B No

26 DID YOU HAVE ANY TRANSACTIONS OR DEALINGS WITH INTERNATIONAL RELATED PARTIES?

Such transactions or dealings include the transfer of tangible or intangible property and any new or
X No
existing financial arrangements

27 WAS THE AGGREGATE AMOUNT OF THE TRANSACTIONS OR DEALINGS WITH INTERNATIONAL RELATED PARTIES

Including the value of property transferred or the balance outstanding on any loans greater than $2
Y No
million?

28 OVERSEAS INTERESTS

Did you have overseas branch operations or a direct or indirect interest in a foreign trust, foreign
Z No
company, controlled foreign entity or transferor trust?

29 THIN CAPITALISATION

Did the thin capitalisation provisions apply? O No

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COMPANY TAX RETURN Watcon Builders Pty Ltd

30 TRANSACTIONS WITH SPECIFIED COUNTRIES

Did you directly or indirectly send to, or receive from, one of the countries specified in the instructions,
any funds or property OR Do you have the ability or expectation to control, whether directly or
I No
indirectly, the disposition of any funds, property, assets or investments located in, or located
elsewhere but controlled or managed from one of those countries?

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COMPANY TAX RETURN Watcon Builders Pty Ltd

Calculation statement
Taxable or net income A

Tax on taxable or net income T1 $0.00

R&D recoupment tax M

Gross tax (T1 plus M) B $0.00

Non‑refundable non‑carry forward tax offsets C $0.00

Subtotal 1 (B less C - cannot be less than zero) T2 $0.00

Non‑refundable carry forward tax offsets D

Subtotal 2 (T2 less D - cannot be less than zero) T3 $0.00

Refundable tax offsets E

Subtotal 3 (T3 less E - cannot be less than zero) T4 $0.00

Franking deficit tax offset F

Tax Payable (T4 less F - cannot be less than zero) T5 $0.00

Section 102AAM interest charge G

Eligible credits H

Credit for interest on early payments – amount of interest H1

Credit for tax withheld – foreign resident withholding (excluding capital

H2
gains)

Credit for tax withheld where ABN is not quoted H3

Tax withheld from interest or investments H4

Credit for TFN amounts withheld from payments from closely held trusts H5

Other credits H7

Credit for foreign resident capital gains withholding amounts H8

Tax offset refunds (Remainder of refundable tax offsets) I $0.00

PAYG instalments raised K

Amount payable/refundable S

Hours taken to prepare and complete this return

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COMPANY TAX RETURN Watcon Builders Pty Ltd

Losses schedule
Part A Losses carried forward to the 2022–2023 income year

1 TAX LOSSES CARRIED FORWARD TO LATER INCOME YEARS

2021–2022 B $58,658.00

2020–2021 C $8,433.00

2019–2020 D

2018–2019 E

2017–2018 F

2016–2017 and earlier years G

Total U $67,091.00

2 NET CAPITAL LOSSES CARRIED FORWARD TO LATER INCOME YEARS

2021–2022 H

2020–2021 I

2019–2020 J

2018–2019 K

2017–2018 L

2016–2017 and earlier years M

Total V

Part B Ownership and same business test

1 WHETHER CONTINUITY OF MAJORITY OWNERSHIP TEST PASSED

2021–2022 A Yes

2020–2021 B

2019–2020 C

2018–2019 D

2017–2018 E

2016–2017 and earlier years F

2 AMOUNT OF LOSSES DEDUCTED FOR WHICH THE CONTINUITY OF MAJORITY OWNERSHIP TEST IS
NOT PASSED BUT THE BUSINESS CONTINUITY TEST IS SATISFIED – EXCLUDES FILM LOSSES

Tax losses G

Net capital losses H

3 LOSSES CARRIED FORWARD FOR WHICH THE BUSINESS CONTINUITY TEST MUST BE SATISFIED BEFORE
THEY CAN BE DEDUCTED IN LATER YEARS – EXCLUDES FILM LOSSES

Tax losses I

Net capital losses J

4 DO CURRENT YEAR LOSS PROVISIONS APPLY?

Is the company required to calculate its taxable income or tax loss for the year
under Subdivision 165-B or its net capital gain or net capital loss for the year K
under Subdivision 165-CB of the Income Tax Assessment Act 1997 (ITAA 1997)?

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COMPANY TAX RETURN Watcon Builders Pty Ltd

Part C Unrealised losses

Has a changeover time occurred in relation to the company after 1.00pm by legal
L No
time in the Australian Capital Territory on 11 November 1999?

At the changeover time did the company satisfy the maximum net asset value test
M
under section 152-15 of ITAA 1997?

If you selected No at M, has the company determined it had an unrealised net

N
loss at the changeover time?

If you selected Yes at N, what was the amount of unrealised net loss calculated
O
under section 165-115E of ITAA 1997?

Part D Life insurance companies

Complying superannuation class tax losses carried forward to later income

P
years

Complying superannuation net capital losses carried forward to later income

Q
years

Part E Controlled foreign company losses

Current year CFC losses M

CFC losses deducted N

CFC losses carried forward O

Part F Tax losses reconciliation statement

Balance of tax losses brought forward from the prior income year A $8,433.00

ADD Uplift of tax losses of designated infrastructure project entities B

SUBTRACT Net forgiven amount of debt C

ADD Tax loss incurred (if any) during current year D $58,658.00

ADD Tax loss amount from conversion of excess franking offsets E

SUBTRACT Net exempt income F

SUBTRACT Tax losses forgone G

SUBTRACT Tax losses deducted H

SUBTRACT Tax losses transferred out under Subdivision 170-A (only for transfers
I
involving a foreign bank branch or a PE of a foreign financial entity)

Total tax losses carried forward to later income years J $67,091.00

Worksheets
6C OTHER SALES OF GOODS AND SERVICES

Description Amount
Sales $431,411.00

Total $431,411.00

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COMPANY TAX RETURN Watcon Builders Pty Ltd

6F GROSS INTEREST

Description Amount
Interest Income $3.00

Total $3.00

6R OTHER GROSS INCOME

Description Amount
Apprentice Incentive $5,500.00

Apprentice Wage Subsidy $30,414.00

Total $35,914.00

6A COST OF SALES

Description Amount
Materials $27,170.00

Total $27,170.00

6C CONTRACTOR, SUB-CONTRACTOR AND COMMISSION EXPENSES

Description Amount
Contractors (con) $22,866.00

Total $22,866.00

6D SUPERANNUATION EXPENSES

Description Amount
Superannuation $34,660.00

Total $34,660.00

6E BAD DEBTS

Description Amount
Bad debts $6,025.00

Total $6,025.00

6V INTEREST EXPENSES WITHIN AUSTRALIA

Description Amount
Interest Expense $1,343.00

Total $1,343.00

6 OTHER DEPRECIATION

Asset description Decline in value

Depreciation $10,062.00

Total $10,062.00

6Y MOTOR VEHICLE EXPENSES

Description Amount
Motor Vehicle Expenses $20,110.00

Total $20,110.00

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COMPANY TAX RETURN Watcon Builders Pty Ltd

6Z REPAIRS AND MAINTENANCE

Description Amount
Repairs and Maintenance $722.00

Total $722.00

6S ALL OTHER EXPENSES

Description Amount
Bank Fees $122.00

Cleaning $90.00

Consulting & Accounting $3,580.00

General Expenses $3,611.00

Insurance $2,739.00

Office Expenses $946.00

Printing & Stationery $583.00

Protective clothing $889.00

Subscriptions $1,246.00

Telephone & Internet $4,109.00

tools $14,125.00

Travel - National $964.00

Wages and Salaries $368,848.00

Workcover $1,176.00

Total $403,028.00

8S PURCHASES AND OTHER COSTS

Description Amount
Materials $27,170.00

Total $27,170.00

8C TRADE DEBTORS

Description Amount
Accounts Receivable $23,475.00

Total $23,475.00

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COMPANY TAX RETURN Watcon Builders Pty Ltd

8D ALL CURRENT ASSETS

Description Amount
Integrated Client Account $0.00

Income Tax Payable $0.00

Cash on Hand $60.00

Watcon Savings $41,211.00

Watcon Transaction $36,137.00

Integrated Client Account $1,676.00

Accounts Receivable $23,475.00

Total $102,559.00

8E TOTAL ASSETS

Description Amount
integrated Client Account $0.00

Incoem Tax Payable $0.00

Borrowing Costs $450.00

Less: Accumulated Depreciation Motor Vehicle ($54,374.00)

Less: Accumulated Depreciation Plant & Equipment ($26,490.00)

Motor Vehicle $121,425.00

Office Equipment $908.00

Less Accumulated Depreciation on Office Equipment ($908.00)

Plant & Equipment $35,000.00

Accounts Receivable $23,475.00

Cash on Hand $60.00

Watcon Savings $41,211.00

Watcon Transaction $36,137.00

Integrated Client Account $1,676.00

Total $178,570.00

8G ALL CURRENT LIABILITIES

Description Amount
Mastcard Business $0.00

GST $5,150.00

PAYG Withholdings Payable $21,414.00

Superannuation Payable $15,464.00

Wages Payable - Payroll $0.00

Total $42,028.00

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COMPANY TAX RETURN Watcon Builders Pty Ltd

8H TOTAL LIABILITIES

Description Amount
Mastercard Business $0.00

Directors Loan $126,460.00

Hire Purchase - 2022 Kia Sorento $78,711.00

Hire Purchase - Ford Ranger $9,600.00

Less Unexpired Charges - Ford Ranger ($271.00)

Unexpired Interest - 2022 Kia Sorento ($15,660.00)

GST $5,150.00

PAYG Withholdings Payable $21,414.00

Superannuation Payable $15,464.00

Wages Payable - Payroll $0.00

Total $240,868.00

8M FRANKING ACCOUNT BALANCE

Date Transaction details Debit Credit Balance

01/07/2021 Opening franking account balance from 8P $0.00 $2,766.00 $2,766.00

30/06/2022 2021FY Income Tax Refund $1,455.00 $0.00 $1,311.00

Total $1,455.00 $2,766.00

Company Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 12 of 12
INDIVIDUAL TAX RETURN Watson, Julian

2022 TAX RETURN SUBSTANTIATION DECLARATION

Tax returns are assessed on a Self-Assessment basis. This means that the ATO may not check whether the information you have
submitted is correct. We will make every endeavour to ensure that your return is prepared accurately and correctly, however we
rely on you to ensure that all relevant information is disclosed to us.

I, Julian Watson, confirm that:

I have reviewed every page of the accompanying copy of the income tax return to which the attached Electronic Lodgment
Declaration refers and confirm that all items are correct and that there are no omissions or misstatements.

Income:
If I am an Australian tax resident, you have advised me that I must declare income from all sources, in and out of Australia,
including net capital gains received, for the year of income in my tax return.

Expenses:
You have advised me that to claim a work-related or other expense deduction I must demonstrate that I have incurred the
expense for income producing purposes.In addition, you have advised me of the substantiation legislation that I must satisfy in
relation to all deductible expenses, including car, travel, business, education and work-related expenses. You have informed me
that I must OBTAIN ORIGINAL RECEIPTS and keep them for a minimum of five years from the date my return is lodged.

The receipts must contain the following details:

name of supplier and amount of expense;
nature of goods/services and date of the expenses (details I am able to personally record where not adequately noted by
supplier);
date of the document.

Apportionment:
Where items are used for both business/work-related and private purposes e.g. car, telephone, computer etc. I advise I have
kept appropriate apportionment records to verify my business usage claim and that my employer will verify that it was
necessary to incur such expenditure in earning my income. Further, I have instructed you to prepare the return based on my
specific instructions on the understanding I will be able to produce such information to the satisfaction of the ATO in an audit
situation.

Audits:
I further confirm that:
I am aware that the procedures to follow if a document is lost or destroyed is to obtain a copy from the supplier;
I may be required to substantiate or verify any income or expense item declared or claimed in my tax return in the event of
an ATO audit;

I declare that:
I have read and understood the tax return that has been prepared for me;
I have disclosed and you have returned all my assessable income for the current income tax year;
I have all receipts or documentation necessary to substantiate my work-related and other claims, and I will make them
available if required by the Tax Office;
All income declared, claims for deductions and tax offsets/rebates included in my return are based upon my specific
instructions;
You have explained what written income and expense evidence will typically be required during an audit and that
penalties, interest and possible legal action may be applied if incorrect income or claims are identified by an audit;
I further understand that if the return is not lodged by the due date specified, penalties may apply.

Terms and Conditions:

I acknowledge that an invoice will be issued for your services and I agree to pay this invoice in full.
I acknowledge that further action may be taken to secure payment of overdue/outstanding accounts.

Signature Date

Julian watson
Julian watson (Oct 13, 2022 05:15 GMT+10)
13-Oct-2022
Individual Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 1 of 9
INDIVIDUAL TAX RETURN Watson, Julian

Individual Tax Return 2022

1 Jul 2021—30 Jun 2022 TFN Recorded

PART A ELECTRONIC LODGMENT DECLARATION (FORM I)

This declaration is to be completed where a taxpayer elects to use the Electronic Lodgment Service. It is the responsibility of
the taxpayer to retain this declaration for a period of five years after the declaration is made, penalties may apply for
failure to do so.

Privacy
The ATO is authorised by the Taxation Administration Act 1953 to request your tax file number (TFN). We will use your TFN to
identify you in our records. It is not an offence not to provide your TFN. However, you cannot lodge your income tax form
electronically if you do not quote your TFN.

Taxation law authorises the ATO to collect information and to disclose it to other government agencies. For information about
your privacy go to ato.gov.au/privacy

Electronic Funds Transfer — Direct Debit

Where you have requested an EFT direct debit some of your details will be provided to your financial institution and the Tax
Office's sponsor bank to facilitate the payment of your taxation liability from your nominated account.

Tax File Number Name Year

TFN Recorded Watson, Julian 2022

Declaration — I declare that:

the information provided to my registered tax agent for the preparation of this tax return, including any applicable
schedules is true and correct, and
the agent is authorised to lodge this tax return.

Important
The tax law imposes heavy penalties for giving false or misleading information.

Signature Date

Julian watson
Julian watson (Oct 13, 2022 05:15 GMT+10)
13-Oct-2022
PART D TAX AGENTS CERTIFICATE (SHARED FACILITIES USERS ONLY)

Client Ref Agent Ref No. Contact Name Contact No.

WA5900A 24662736 John Ryan 07 33551800

Declaration — I declare that:

I have prepared this tax return in accordance with the information supplied by the taxpayer
I have received a declaration made by the taxpayer that the information provided to me for the preparation of this
document is true and correct, and
I am authorised by the taxpayer to lodge this tax return and any applicable schedules that are attached.

Agent's Signature Date

Individual Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 2 of 9
INDIVIDUAL TAX RETURN Watson, Julian

Individual Tax Return 2022

1 Jul 2021—30 Jun 2022 TFN Recorded

PART B ELECTRONIC FUNDS TRANSFER CONSENT

This declaration is to be completed when an electronic funds transfer (EFT) of a refund is requested and the tax return is
being lodged through the electronic lodgment service (ELS).

This declaration must be signed by the taxpayer prior to the EFT details being transmitted to the Tax Office. If you elect for an
EFT, all details below must be completed.

Important
Care should be taken when completing EFT details as the payment of any refund, including any family tax benefit, will be made
to the account specified.

Agent Ref No. BSB Number Account Number Account Name

24662736 064164 10651593 Julian Pierre Watson

Authorisation
I authorise the refund to be deposited directly to the account specified.

Signature Date

Julian watson
Julian watson (Oct 13, 2022 05:15 GMT+10)
13-Oct-2022

Individual Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 3 of 9
INDIVIDUAL TAX RETURN Watson, Julian

Individual Tax Return 2022

1 Jul 2021—30 Jun 2022 TFN Recorded

Total income $101,100.00

Less total deductions and applied losses (L1) $871.00

Taxable income $100,229.00

Tax on taxable income $23,041.42

Less non-refundable tax offsets used $1,193.13

Assessed tax payable $21,848.29

Plus Other Liabilities

Medicare levy $2,004.58

Total other liabilities $2,004.58

Assessed tax payable (includes other liabilities) $23,852.87

Less PAYG credits and other entitlements

Tax withheld $25,503.00

Total PAYG credits and other entitlements $25,503.00

Amount refundable $1,650.13

Disclaimer

This estimate is only a guide and should not be taken as taxation, financial or investment advice. Our calculation is based on the information you have
supplied and current legislation, proposals and information provided by the Australian Tax Office.

There are numerous factors that may affect the accuracy of this assessment including but not limited to:

changes in tax legislation and Australian Tax Office practices and rulings;
any prior year tax assessments that may be applicable; and
adjustments relating to other Government Departments eg the Department of Human Services.

Do not rely on this estimate to make any decisions until you have received a notice of assessment from the ATO and/or obtained professional
advice.

Individual Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 4 of 9
INDIVIDUAL TAX RETURN Watson, Julian

Individual Tax Return 2022

1 Jul 2021—30 Jun 2022 TFN Recorded

YOUR NAME

Title Given Name Family Name Other Name

MR Julian Watson Pierre

Suffix Date of Birth

16/07/1992

Are you an Australian Resident? Australian residency start date Australian residency end date
Yes

Has part of your name changed since completing your last tax return?
No

YOUR POSTAL ADDRESS YOUR HOME ADDRESS

C/- Carwardine & Associates 34 Oxbow Crescent

PO Box 75 LAWNTON
Alderley

State Postcode State Postcode

QLD 4051 QLD 4501

Country — if not Australia Country — if not Australia

Has your postal address changed since completing your last tax return?

YOUR CONTACT DETAILS

Mobile number Day time contact number Email address

07 33551800

YOUR BANKING INFORMATION (EFT DETAILS)

Deduct fee from refund

YES
No

BSB Number Account Number Account Name Financial Institution Name

064164 10651593 Julian Pierre Watson Commonwealth Bank of
Australia

CONTACT NAME

Full Name
Carwardine & Associates Pty Ltd

TAX AGENT CONTACT DETAILS

Tax Contact Agent Ref Number Contact Number

John Ryan 24662736 07 33551800

Individual Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 5 of 9
INDIVIDUAL TAX RETURN Watson, Julian

Income
1 SALARY OR WAGES

Your main salary and wage occupation Carpenter

Occupation Code 331212

Payer's ABN Name Tax withheld Income

27 623 868 842 WATCON BUILDERS PTY LTD $25,503.00 C $101,100.00

WORKSHEET

ABN Tax Withheld Gross Type

27623868842 $25,503.00 $101,100.00 S

TOTAL TAX WITHHELD $25,503.00

TOTAL SUPPLEMENT INCOME

TOTAL INCOME $101,100.00

Deductions
D5 OTHER WORK-RELATED EXPENSES E $295.00

Other expenses $295.00

WORKSHEET

Description Expense Percentage Claim Amount

Various Work Expenses $295.00 100% $295.00

Total $295.00 $295.00

D9 GIFTS OR DONATIONS J $576.00

Gifts or donations

WORKSHEET

Description Amount
Compassion $576.00

Total $576.00

TOTAL SUPPLEMENT DEDUCTIONS Items D11 to D15

TOTAL DEDUCTIONS $871.00

SUBTOTAL TOTAL INCOME less TOTAL DEDUCTIONS $100,229.00

Taxable income $100,229.00

Income tests
IT1 TOTAL REPORTABLE FRINGE BENEFITS

Employers exempt from FBT under section 57A of the FBTAA 1986 N $0.00

Employers not exempt from FBT under section 57A of the FBTAA 1986 W $0.00

IT2 REPORTABLE EMPLOYER SUPERANNUATION T $0.00

Individual Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 6 of 9
INDIVIDUAL TAX RETURN Watson, Julian
IT3 TAX-FREE GOVERNMENT PENSIONS U $0.00

IT4 TARGET FOREIGN INCOME V $0.00

IT5 NET FINANCIAL INVESTMENT LOSS X $0.00

IT6 NET RENTAL PROPERTY LOSS Y $0.00

IT7 CHILD SUPPORT YOU PAID Z $0.00

IT8 NUMBER OF DEPENDENT CHILDREN D 0

Medicare levy related items

M1 MEDICARE LEVY REDUCTION OR EXEMPTION M2 MEDICARE LEVY SURCHARGE

Reduction based on family income For the whole period 1 July 2021 to 30 June 2022,
were you and all your dependents including your
Number of dependent children and students Y E Yes
spouse—if you had any—covered by private
Exemption categories patient HOSPITAL cover?

Full 2.0% levy exemption – number of days V Number of days NOT liable for surcharge A 365

Half 2.0% levy exemption – number of days W

Private health insurance policy details

PROVIDER INFORMATION 1

Health insurer ID B CBH Membership number C 10074569

Your Australian Government

Your rebatable component J $664.00 K $163.00
rebate received

Benefit code L 31 Tax claim code C

PROVIDER INFORMATION 2

Health insurer ID B CBH Membership number C 10074569

Your Australian Government

Your rebatable component J $1,898.00 K $467.00
rebate received

Benefit code L 30 Tax claim code C

Spouse details – married or de facto

YOUR SPOUSE’S NAME

First given name Rhianon

Other given names Samantha

Surname or family name Watson

Date of birth K 30 Mar 1990

Your spouse’s gender Female

Your spouse has residency Yes

PERIOD YOU HAD A SPOUSE – MARRIED OR DE FACTO

Did you have a spouse for the full year L Yes

Did your spouse die during the year? No

THIS INFORMATION RELATES TO YOUR SPOUSE’S INCOME

Your spouse’s taxable income (excluding FHSS released amounts) O $67,541.00

Individual Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 7 of 9
INDIVIDUAL TAX RETURN Watson, Julian

Your spouse’s taxable income $67,541.00

Your spouse’s assessable FHSS released amounts

Your spouse’s section 98 trust income – not included in spouse’s taxable

T
income

Distributions to your spouse on which family trust distribution tax has been
U
paid

Your spouse’s total reportable fringe benefits amount

Employers exempt from FBT under section 57A of the FBTAA 1986 R $0.00

Employers not exempt from FBT under section 57A of the FBTAA 1986 S $0.00

Amount of any Australian Government pensions and allowances received by

P
your spouse in the year of the return

Amount of any exempt pension income received by your spouse in the year
Q
of the return

Spouse reportable superannuation contributions A $0.00

Spouse reportable employer superannuation contributions $0.00

Spouse deductable personal superannuation contributions

Your spouse’s tax-free government pensions B $0.00

Your spouse’s target foreign income C

Your spouse’s foreign income

Your spouse’s exempt foreign employment income

Your spouse’s net investment loss D $0.00

Your spouse’s net financial investment loss $0.00

Your spouse’s net rental property loss $0.00

Child support your spouse paid E $0.00

Your spouse’s taxed element of a SLS zero tax rate F

Your spouse’s total ATI amount $67,541.00

Your spouse’s rebate income $67,541.00

Your spouse’s assessable income $68,412.00

18 CAPITAL GAINS

Did you have a capital gains tax event during the year? G No

Losses carried forward

Net capital losses from collectables $0.00

Other net capital losses $0.00

19 FOREIGN ENTITIES

Did you have either a direct or indirect interest in a controlled foreign company CFC? I No

Have you ever, either directly or indirectly, caused the transfer of property—including money—or
W No
services to a non-resident trust estate?

Individual Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 8 of 9
INDIVIDUAL TAX RETURN Watson, Julian
20 FOREIGN SOURCE INCOME AND FOREIGN ASSETS OR PROPERTY

During the year did you own, or have an interest in, assets located outside
P No
Australia which had a total value of AUD$50,000 or more?

TOTAL SUPPLEMENT INCOME Items 13 to 24

Deductions
TOTAL SUPPLEMENT DEDUCTIONS Items D11 to D15

Tax offsets
TOTAL SUPPLEMENT TAX OFFSETS Items T3, T4, T6, T7, T8 and T9

Payment summary worksheet

PAYMENT SUMMARY WORKSHEET - AUSTRALIAN

WATCON BUILDERS PTY

Payer's name
LTD

Single Touch Payroll finalised Yes

ABN 27623868842

Tax Withheld Gross Type

Salary and wages Item 1 $25,503.00 $101,100.00 S

Worksheets
D5 OTHER WORK-RELATED EXPENSES

Description Expense Percentage Claim Amount

Various Work Expenses $295.00 100% $295.00

Total $295.00 $295.00

D9 GIFTS OR DONATIONS

Description Amount
Compassion $576.00

Total $576.00

Individual Tax Return 2022 THIS FORM CANNOT BE LODGED AS A PAPER REPRESENTATION OF THE FORM Page 9 of 9
2022 Tax Returns & Financials - Watcon
Builders Pty Ltd & Julian Watson
Final Audit Report 2022-10-15

Created: 2022-10-12

By: Carwardine Lodgements (lodge@carwardines.com.au)

Status: Signed

Transaction ID: CBJCHBCAABAAEgICZHacCTyrvBNdc7h9XpfdcyNeCjuY

"2022 Tax Returns & Financials - Watcon Builders Pty Ltd & Juli
an Watson" History
Web Form created by Carwardine Lodgements (lodge@carwardines.com.au)
2022-10-12 - 5:55:36 AM GMT

Web Form filled in by Julian watson (Jpw902@gmail.com)

2022-10-12 - 7:15:49 PM GMT- IP address: 180.216.187.181

Document emailed to Julian watson (Jpw902@gmail.com) for signature

2022-10-12 - 7:15:51 PM GMT

Email viewed by Julian watson (Jpw902@gmail.com)

2022-10-13 - 11:19:03 AM GMT- IP address: 104.28.125.9

E-signature verified by Julian watson (Jpw902@gmail.com)

2022-10-15 - 9:54:03 PM GMT- IP address: 180.216.187.181

Agreement completed.
2022-10-15 - 9:54:03 PM GMT