We all stress about the DREADED TAX TIME. Here are some tips to think about before lodging your tax return. Being prepared and knowing what you can claim could save you a lot of money.
Some of these tips are common knowledge while others a can be hidden in legislation and less well known. To ensure you put your best possible outcome on your 2017 tax return make sure you read these easy tax tips.
- Donation Receipts
Did you know donations over $2 are tax deductible?
Keep those receipts or when donating make sure you ask for one.
- Work related expenses
If you check emails at home after you leave the office you can claim a percentage of your expenses.
- Mobile phones
A part of your personal phone costs can be claimed if you are using for work as well as personal use.
- Tax refund, Union and Professional fees
Did you use a tax agent to prepare and lodge your tax return last year?
If you did, then you can claim the amount you paid last year – on this year’s return.
- Income Protection Insurance
If you hold income protection insurance then this type of insurance is completely tax deductible.