Tax time can be a confusing and stressful time if you’re unsure of your tax obligations, or haven’t lodged a tax return before. It doesn’t have to be that way.
Whether you are a student, on a work visa, or someone else has previously taken care of your tax for you, here are some tips to make your first tax time a simple one.
When is the tax deadline?
The tax season runs from the 1st July 2015 until 31st October 2015, and lodgement is applicable any time during that period. It may take some time to organise everything you need to lodge a tax return. If you’re unsure of what you’ll need, make use of our interactive Tax Checklist. Of course, we encourage our customers to get in as early as possible. The sooner your tax is lodged, the sooner you’ll get your return!
What am I entitled to claim?
The most important tip when deciding what you are entitled to claim is to make sure you are keeping your receipts from the financial year. In doing so, you have a clear record of your expenses and will be able to maximise your return results.
A clear record of receipts means you are able to establish which deductions you are entitled to claim as a work expense. If you are unsure of this process, you may require the help of an Income Tax Professional.
What do I do if I need help from a professional?
If you want to maximise your tax return and get back more in return, then it is best to speak with an Income Tax Professional. You can view your nearest office location here or contact us to make an appointment on 1300 555 773.