Are You Preparing Your Own Tax Return This Year?

About 20 per cent of Australia tax payers completed their tax returns online last year using the ATO’s etax lodgement.  This year the number is likely to be higher as the numbers appear to be rising annually. One of the things I heard recently was: It's not what you know that's important if you are filing online but, it's what you don't know . . . or, more to the point, it’s what you think you know and really don't.

Three points to consider to help with your best option.

• Are you prepared to give your taxes your time?

• Are you prepared to pay to engage an tax accountant to
  assist?

• Are you prepared to deal with the complexity of the ATO’s etax lodgement codes when lodging?

Well luckily customers using Xpnsit the online tax manager know how it will assist them if they are personal or PAYE tax payers. The tax manager understanding your work category position and through its powerful software undertakes to find every legitimate ATO tax deduction that is available for you. This can add up to a tidy sum during a tax year. For example, it will assist with purchases for work related items such as tools,journals and some laundry items.  You can claim up to $300 of work related expenses without the need for written receipts. However, if your claim is over $300 you must have receipts for the full amount. Using an online expense tax manager its generally not too difficult to find much larger amounts accruing during the year and well worth keeping a record.  You should remember if you overpay the taxman he won’t be sending you a thankyou card for your generous overpayment.

The end of the year can be an anxious time for many taxpayers with many worried by the complexity of reporting, but there is a good opportunity with the assistance of an online tax managers to legitimately increase your tax refund getting a larger slice  back from the Australian Tax Office.  It doesn’t have to be a chore to get more tax back.