Maximise Your Refund – Tax Return Sydney
It is almost the end of June, so it is perfect time to start thinking about your tax return and planning for the next Financial Year. Whether you are lodging an Individual or Small Business tax return, there are a lot to factors to consider this Tax Season. At Mas Tax Sydney, we can assist you to organise, complete and process your tax return, and help you to legally maximise your refund.
The Tax Season can be quite hectic and stressful, causing people to rush through their lodgement and miss out on simple claim entitlements or make costly mistakes. By seeking the right advice, you can avoid any unnecessary administration and legal issues, and ensure that you receive your full refund. At Mas Tax Sydney, we have the knowledge and experience to help you to get the best possible tax refund, in an efficient and simple manner. We have dedicated countless hours to researching and monitoring the current tax laws and refreshing our accounting skills, ensuring that all of our clients receive the best services and advice.
There are several tax deductions that Individuals and Small Businesses can claim this End of Financial Year, and at Mas Tax Sydney, we have complied a quick checklist of tax deductions that you may be able to claim. These include:
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For Individuals:
- Work-related expenses, that you paid for with your own money and were not later reimbursed by your employer.
- Work supplies or equipment, including home office expenses, tools or other equipment
- Self-education costs, that are used to maintain or gain specific skills needed in your current job
- Work-related travel expenses, including fuel and certain car expenses – remember to keep a vehicle logbook and ask us for advice.
- Other deductions, that you will need to discuss with us. Such as your work phone or internet expenses, personal super contributions, and deductions applicable to certain industries and occupations.
- Remember to always keep your receipts!
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For Small Businesses:
If you are a Small Business Owner, there are several tax benefits that may apply to you, and at Mas Tax Sydney, we take the time to develop a full understanding of your business and find which ones apply to you. We know that every business is different, so we evaluate more than just your average tax items. Instead, we take a broad perspective of your financial position and tax opportunities, and can assist you to be better prepared for the next Financial Year.
Some deductions that may apply to your business, include:
- Business-related expenses, such as supplies, equipment and work vehicles
- Small business concessions, if you produce a turnover of less than $10 million
- Asset deductions, allowing small businesses to claim certain assets valued under $20,000.
- Remember to always keep your receipts!
For further information or to make an appointment, please contact us below or call us on 1300 627 829.
