This year, tax deduction claims the A.T.O. will focus on include:

  • Motor vehicle expenses
  • Expenses for transporting bulky tools and equipment
  • Uniforms and laundry
  • Overnight Travel-transport, accommodation and meals
  • All work-related expenses: computers, stationery, telephone, internet, fees, subscriptions, electricity, tools, equipment.
  • Self-education claims.

Make sure you can substantiate ALL of your tax deduction claims.

Please contact me if you need assistance.

5 Easy Ways to Increase Your Tax Refund

1. Claim deductions for everything you are entitled to claim:
But, only claim legitimate items.

2. Keep good records: Be organised, keep receipts, and fill in motor vehicle log book regularly.

3. Get advice from a professional Accountant who is a Registered Tax Agent: He/she should find additional expenses, and tax offsets for you.

  • 4. Don’t forget the small stuff: Little expenses add up over the tax year.

  • 5. Use a Registered Tax Agent to lodge your Tax Returns: He/she should be working for YOU, helping to increase your tax refund and avoid trouble with the A.T.O.

I am here for you, to help with any accounting, bookkeeping or tax issues.

Analysing Trends to Improve Business

Analysing your business performance is valuable if you take action to improve your business results, however one trend by itself, is not that useful.

If, for example, your employee wages are trending upwards, you need to also look at turnover and profit; and then analyse the ratios of wages to profit.

Doing financial calculations, and analysing ratios will allow you to step back from the day to day operations of your business and look at the overall business performance.

Remember, it is only useful if you act on the results.