Get the Opportunity of End of Financial Year Sales

June 17, 2012

If you are in business or otherwise this is the best time to use the opportunity to replace or buy new Assets, further, if you are in business you may have the opportunity to claim some of these Business expenses or in part could be claimed as business-related expenses.  Please consult your Tax Accountants for further information…..

You can claim up to $300 of work-related expenses without receipts, provided the claims are for outgoings related to earning your assessable income.

Make use of your tax agent

No-one knows your affairs better than yourself, so you will recognise if any of the following tax tips apply to your circumstances. But no-one is better informed as to what is appropriate to your situation than your tax agent. Also, a tax agent’s fee is an allowable deduction in the year it is paid.

Every individual taxpayer is required to lodge their return before October 31, but tax agents are given more time to lodge, which can be a handy extension to the payment deadline. Of course, if you’re sure you are going to get a refund it’s no use delaying, so in these cases, it is worth getting all of your information to your tax agent as soon as you can after July 1.