13 Jul Tax time can either be a very daunting time or a very exciting time, ULTON are here to help with the latter!
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.