5 Tips To Maximize Your Tax Return in 2016
Once again, the time has arrived for you to take care of your tax returns for this and the next year. However, do you think you are having issues with your tax management? In that case, do not forget to consult a tax planning specialist Perth has to offer you with.
In case you don’t have any issues, here are a couple of pointers to help you maximize your tax returns.
#1: Work Related Claim Expense
As an Australian citizen, you can claim undocumented expenses up to $300. Once you have reached the limit, you will need to show proof. In case, you do not know, or are facing issues, you can definitely try out the help of Tax accountants Perth has to offer, who will help you with the correct procedure.
#2: Donation To Charities
When you donate frequently to charities, you can definitely claim them with the tax office. For example, for ‘bucket donations’, you can claim a deduction equal to your contribution and up to $10 on your 2014 – 2015 tax return. Once again, if you are at unease, or need more information, you can definitely contact specialists of tax return Perth has to offer you with.
#3: New Tax Payers
If you have never lodged a tax, then the easiest way is to do so by hiring any specialist accounting services and tax services Perth has to offer you with. Other than that, you can also visit the Australian Tax Office Website, and learn the ropes.
#4: Process Of Refund
If you have paid more tax than required, then you are entitled to a refund. Generally, you will receive a cheque for your refund amount. However, you can also have the amount paid to your account. If you are too confused or desperate for a refund, then you can try out the e-tax procedure. If you have doubts regarding that, any specialist accounting services Perth has will provide you with the information.
#5: Amendments to Lodged Tax
If you find that you have made a mistake in your tax filing, then you can make amendments easily. However, you can be liable for a penalty, depending on the circumstances, and thus it is prudent to hire tax returns Perth has to offer you with.
So, now that you know the basics of tax filing, you can definitely maximize your profits in the coming year.