Let our tax experts help you maximise your tax refund. We can also help you find the right way to solve your complex tax matters, minimise your liability and maximise your refund.
Here a few tax tips for you as we approach 31 October.
Motor Vehicle Expenses
Keep a logbook or diary records of your work-related motor vehicle usage, excluding travel to and from work and keep track of all the small trips, these add up to larger claims. Other things to consider: do you use your phone or your home internet for work or do you run your business from home? If you answered yes, inform your accountant.
Personal superannuation contributions
You no longer have to deal with your pay department to arrange salary sacrifice contributions to get a tax deduction. You just pay them to your super fund and advise them you are claiming a tax deduction. It is important to ensure that you do not exceed contribution limits. We can help you in relation to this.
Most important – KEEP ALL RECEIPTS!
Additional audit programme funding has been provided to the ATO so it is vitally important for you to be able to prove all of your claims.
If you don’t want to lodge your return by 31 October, appoint us as your tax agent to avoid penalties. You could delay your lodgement until May 2019.