The ATO reports that 74 per cent of Australians are using a tax agent. That’s simply because when you use a registered tax agent, they work for you, not the ATO.
But if you are looking at lodging your tax return yourself, take care as the ATO is checking more returns than ever this year.
The ATO is expanding its data matching and real-time monitoring, enabling it to quickly find inaccurate claims or suspicious returns.
That means anyone who has been potentially holding out on additional income, inflating costs or deducting items incorrectly are all in the firing line.
The ATO has access to an enormous amount of data. This means that they can create benchmark figures by occupation, income bracket and previous returns.
They can also access data from your bank, employers, other government departments, and even directly from sharing platforms like Uber or Airbnb.
So, the easiest way to get the best tax refund without running into trouble is to keep in the ATO’s good books.
Working with and using a tax agent like Instant Tax Refunds is by far the best way to ensure the maximum refund with the least risk.
More and more people are using a tax agent for that very reason.
Figuring out what you can claim is where we come in right at the beginning. And then we work out how to calculate your claims. Knowing how to do this can be the difference between a smooth return with a refund, or red flagging the attention of the ATO.
Reputable and highly experienced tax agents like ours have the expertise to make sure you know what you can claim.
We also have systems and checks in place to ensure any potentially dodgy claims are checked before they are sent to the ATO.
And our small, once-per-year tax agent fee is also tax deductible.
So if you are still considering doing your own tax return, why not give us an obligation free call first on 1300 TAX GUY.
It could save you a whole lot of money and a whole lot of trouble.