How can you get the maximum 2017 tax refund from the ATO in Australia?
One of the most important steps is to use the most trusted tax agent, someone who will give reliable service, fast, and not charge you extra fees, a professional like the pros of Etax Plus . There are some simple steps to take for those wanting as big a refund as possible, and we can help. For example, you should claim all the tax deductions you are entitled to, such as anything you paid for that was work-related. You should also keep good records and make sure you claim even the small items, such as a $10 purchase or a $15 donation to charity. These can add up to hundreds of dollars a year.
When you use Etax Plus, you can be confident, because we have more than nine years of experience in the accounting and finance industries. We can meet any accounting need your business has, whether you are getting started or have been in business for years.
Claim All Your Deductions
If you ever pay for anything work-related, keep a receipt of each item or document where and when you made the purchase in a diary--or do both. If you keep a diary, it will be easier to remember which job or project a purchase is related to. Even if you don't know if you can claim an item, keep the receipt. The trusted accountants at Etax Plus will know and help you get the biggest refund possible in Sydney or Parramatta, Australia. The simple rule is most of the things you buy for work can be deducted and will help you owe less in taxes by reducing your taxable income. You will have to have receipts if your deductions are more than $300. Some of the things you can claim for deductions include:
Uniforms that are specific to the place you are working.
Travel from one place of work to another.
Educational courses related to your work can help you gain a bigger refund.
Money donated to charity.
Expenses related to an investment property.
Expenses related to work at home: the Internet, phone, office supplies, power, and water.
Save All Your Receipts and Keep Good Records
It is common for Australians to wait for tax time every year and then look for the receipt for purchases they have made during the last year, so they can give them to the ATO. If they had kept their receipts organised and filed, they could have saved hours of time. They also might even be missing thousands or hundreds of dollars in their refund, because they may have forgotten some receipts.
Have you ever considered how much money you might be costing yourself?
One important way of keeping records of everything includes:
Buying folders, one for each year, but not one with plastic sleeves. This is because the ink on your receipts can stick to them.
Label your folders, one for each year. The Australian Tax Office requires you to keep records for five or more years.
Keep this year's file where it is easy to find. Don't put it anywhere you will forget about it. Make it easy to find the receipts if you need them.
Don't Consider Any Potential Deduction Too Small
Do you spend money on things during the year that you consider too small to claim? A $10 textbook or $20 deduction to charity may not seem like much, but how often have you had such expenses? If they have happened often during the year, you might be surprised to find they might add up to hundreds of dollars.
Use a Trusted Tax Professional
Many Australians file their own tax returns every year, but 74% use the services of a trusted tax agent, like Etax Plus, the number one tax firm in Sydney, providing online tax returns. This is because many have learned that by paying a small fee, most trusted accounts will help them get a much bigger return because a tax accountant is one who knows how the Australian tax systems and laws work. Such accountants provide fast service, have reasonable fees, and are responsible for lodgements. By understanding how the ATO works and the available deductions, someone can potentially save thousands of dollars. Contact us for more information.