The taxpayers can miss out a money that are entitled to claim when lodge their tax return. The end of the financial year, CPA Australia will lodge an income tax return and known the difficulty of understanding many people as the taxation system. To help the taxpayers has produced a Tax Time Handy Hints, which is easy to understand an advice and information about maximize tax deductions, offsets and entitlements. To lodging a good income tax and get a deduction for relevant expenses should consider in preparing their tax return.
• Claim to all work related expenses: Time to take a workout of related expenses can be claimed without a receipt, the claim items must be necessary for work and incurred the expenditure.
• Consider making a tax effective superannuation contribution: The recent changes can be followed be self employed taxpayer will claim to all contributions for complying superannuation fund as a deductible tax up to the age of 75. To earn a low income can access a government contribution of every dollar $1.50 is eligible for taxpayers.
• Review your salary package: The effective way is to obtain the tax savings in particularly top marginal tax rate. The salary package includes superannuation and motor vehicles.