It’s time to get serious about preparing for your tax return appointment. One of the big question areas in the tax return is tax deductions. So what deductions can you claim?
Here are some of the major industries and occupations.
This year we have developed FOUR ways you can complete your tax return to make it as convenient and (of course) as safe as possible for you:
1. In house appointments at 60 Thuringowa Drive, Kirwan as normal.
2. Appointments via the video conferencing Zoom platform in the comfort of your own home or workplace.
3. Telephone Appointments for those who are out and about or not quite so tech savvy.
4. Email appointments, for those who like to email in all their data or are on the go.
To make your tax return appointment call the office on 4773 4088, email; [email protected] or go to Book an appointment.
It’s July, and it’s tax refund ahead time. The question then arises, “What to do with it?
Every year we complete thousands of income tax returns amounting to millions of dollars. I sometimes wonder if the funds are spent in a way that both helps and beneficially satisfies our clients. The people at ASIC have made some suggestions which are worth you taking some time to consider. You get go through these in detail on their MoneySmart page. They suggest five ways to best utilise your tax refund.
- Pay off debts like Credit Cards, Personal Loans or Mortgages. This will give you some space if you ever get into a tight spot financially. You will also be debt free sooner.
- Create an emergency fund. Have you ever wondered what you would do if you were unexpectedly laid off your work, or if you became chronically ill. There could even come some weather event or disaster which affects your whole community.
- Contribute extra to your super. I never took much notice of my super balance until I started getting a little closer to retirement. That was unfortunate for me because the longer your money sits in the super fund the more interest it earns for you.
- Consider investing your windfall. Once you place your funds into an investment you are less likely to fritter it away on non-essentials. It will then have the opportunity to grow.
- Financial Advice. Once you investment becomes a little larger it will be worth your consideration to seek advice on how to best invest your savings.
So what to do with your tax refund this year? I must admit quite a few of my tax refunds have gone to replace the family refrigerator, or a new big television, or that family holiday.
Well, happy tax refund for 2018!