Tips to Stay Organised for Tax Time

June 29, 2015

It’s easy to become overwhelmed around tax time. Getting your tax documents sorted during the year might seem tedious, but come July that extra organisation has benefits.

Staying organised around tax time will help you save time when lodging your return, help itemize your return, and get you more in return.

Here are some tips to stay on top of tax time this year:

  • Use our interactive Tax Checklist to keep track of your paperwork and understand which documents will make your tax return a quick and simple process.
  • Use software to record your expenses. Something simple like an Excel spreadsheet will aid in keeping up to date with your spending throughout the year.
  • Make a habit out of staying organised with tax documents. Schedule a time each week to sit down and make your tax a priority. This way, organising your paperwork won’t pile up by July and take hours to sort before lodging your tax return.
  • Find a place to designate to tax documents. Whether it’s a physical shelf on a bookcase or a digital folder in a cloud application like Dropbox or Google Drive, make sure you have one place where you file all of your tax spreadsheets, your book keeping records and your receipts. This way you won’t spend hours tracking down the documentation you need in order to lodge a return, it’s already in one spot.
  • Download an app on your phone to help you organise receipts. Sometimes those small pieces of paper are difficult to keep track of. Make a habit of photographing your receipts and storing them in an app that makes them easier to find and categorize later in the financial year.

Make your tax a priority. Changing your tax attitude will help you get the most out of your return, and help you to claim on everything that you are entitled to.

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