- April 11, 2016
- Posted by: admin
- Category: Tax Planning, Tax Tips, Taxation Rules
Tax time isn’t exactly a fantastic moment and even in the lovely city of Melbourne, it can still feel like a burden. However, avoiding it means more problems coming your way because the Australian Taxation Office (ATO) isn’t known to be very forgiving. The best way to deal with this is to face it with a positive mind that you are helping the nation grow. Indeed you are. And fret not, because there are ways to make it easier, more effective. Here are some.
- Get techie. The ATO isn’t behind in technology via ‘myTax’. The web site and app are continuously updated to make the task more manageable. It has enticing features that include an ability to track the progress of your tax return, check how fast you can pay off tax debt, and others. Take advantage of this online lodgement service.
- Be honest. You’ll realize that the phrase ‘honesty is the best policy’ was originally written by the taxation office. Kidding aside, honesty is necessary, helpful even when filling in your tax returns as the Australian government isn’t lenient with discrepancies. If you are confused whether or not to include an item, ask a Melbourne accountant or the ATO.
- Stay well-informed. The ATO web site is worth checking out from time to time. It has the latest news regarding changes in policies that may affect your return as well as lists to help you maximize your deductions and avoid over claiming. Take time to go through each item that applies to you to make sure you are filing correctly and completely.
- Review the details. Common mistakes can cause delays when in fact they can easily be avoided if you review the forms before lodging. Aside from you, have someone else check the entries to be safe. Your Melbourne accountant or a small accounting firm in Melbourne can do this for you on top of tax planning and lodging services.
Get help. If you don’t have the time or the will power to deal with tax concerns, and especially if you want tailored tax planning strategies, there is always an option to hire an accountant or a small accounting firm in Melbourne. With a reliable firm, you can be assured that you are getting the most out of the situation.