How to increase tax refund from ATO – Tax Refunds Tips
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There are a few simple tips everyone should consider to maximize their personal tax refund.
Tip 1. Claim a deduction for every expense you are legally entitled to claim.
This is the simplest way to increase your tax refund. Keep a receipt for everything that relates to your work and you are required to pay for. If you aren’t sure whether you can claim a certain item, keep your receipt anyway – our AussieTaxRefunds Consultant will advise you how to claim everything correctly. Don’t overdo it! Faking claims and adding guesses will lead to ATO reassessments, audits and surprising tax bills arriving from the Australian Taxation Office. You must claim legitimate items that you have receipts for only. There are many honest and legitimate ways to increase your personal tax refund and AussieTaxRefunds agent will help you with.
2. Keep good records
Each and every year we hear from our clients during tax season that they spent countless amount of time searching for receipts from the past 12 months. Those people wasted hours of their time. Probably, they missed out on hundreds or even thousands of dollars in their tax refund! Unfortunately those clients lose money at tax time… But solution is simple:
keep tracking of receipts or
fill in car logbooks regularly.
Organising your receipts and logbooks will take just 5 minutes a week and have you hundreds or even thousand dollars.
3. Get the advice of professional accountants
Over 75% of Australians use a tax agent’s services like AussieTaxRefunds.com.au. And there is a good reason! Using an accountant’s help with your tax return will not only save you time and stress – it will also ensure that you get a better tax refund. An accountant will check your return from errors and and can also find extra deductions or tax offsets that you were not aware of. And here is the best part: any fee your accountant charges for your tax return are fully deductible with your following year’s tax return.
4. Never miss the small stuff!
A $5 donation to charity or a $10 music album might not seem like much, but each of these small purchases across a yea can add up to hundreds of dollars to your tax statement. Don’t miss any money that you can claim as deductions on your tax return. Whenever you buy anything related to your work, it doesn’t matter how small it is, always keep the receipt. Keeping track of the small purchases is a surest way to ensure you receive the best possible tax refund.
5. Use a tax agent service like AussieTaxRefunds.com.au for your tax refund
75% of Australians lodge their tax return via a tax agent. You want to know why? A tax agent is someone working on your side to help increase your tax refund and help you avoid ATO trouble. But tax agents are not all the same. Accountants from AussieTaxRefunds.com.au are qualified and experienced professionals. Plus the form you fill in is the most advanced, complete and easy-to-use tax form in Australia
Why use AussieTaxRefunds.com.au?
It’s simple. You can use the fastest and easiest online tax refund any time, from anywhere, using any computer or tablet. Plus you will receive the help and support of highly qualified accountants and consultants whose job is to maximise your tax refund. Our accountants will find anything you may have missed as well as suggest further deductions you may be entitled to. Your return will be checked twice by an accountant before lodgement! 92% of AussieTaxRefunds.com.au users agree that the quality advice and checking makes the online return better… David Potts, Sydney Morning Herald columnist, points out that Australia’s tax legislation is about 16,000 pages – roughly six times bigger than the White Pages! Who wants to read that? Your accountant does! To be confident you’ll get the best possible tax refund, you don’t have to read tax legislation, do an accounting degree and complete tax agent training. A tax agent like AussieTaxRefunds.com.au will do it instead of you, avoiding ATO troubles while maximising your tax refund. And this is all for a very low tax-deductible fee.