Tax refunds can feel like an early Christmas present. It’s the bonus payment into your bank account that you can use for a shopping spree, getting rid of some debt or adding to your savings.
Here are three quick tips to help you maximise your 2020 tax refund:
1. Be organised!
Keeping orderly records with a simple filing system can save you thousands in tax deductions. One of the easiest ways to increase your tax refund is to file every receipt for every deductable expense in a filing cabinet or expandable file.
Or if you prefer, create an electronic file on your computer or phone, where you can scan and save receipts and other records of your expenses.
Even if it’s too late for this year’s return, setting up your filing system and taking just a few minutes each week to file every receipt is one easy way to ensure you get the best possible tax refund in the future. Make sure you include the small items too. They all add up!
2. Claim deductions for everything you are legally entitled to claim.
The simplest way to increase your tax refund is to claim deductions on all of the expenses you are legally entitled to claim.
There are many legal ways to increase your refund, so if you aren’t sure whether you can claim a certain item or type of expense, just keep your receipt and ask your Instant Tax Refunds agent to help assess your claim. We know how to help you get the biggest legal refund possible.
3. Use our online Instant tax return application form.
Australia’s tax legislation is over 15,000 pages long –And who wants to read that? (Well… we do so you don’t have to!)
Our online tax return application has been designed by our trained accountants to unravel the complexities of the Australian tax system and to come up with the easiest-to-use tax form that also covers the wide range of deductions you need to get the best tax refund possible.
So use these three tips if you want to be confident of the best possible tax refund and use the Instant Tax Refunds online form or call us now.