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The following tips will help guide you when preparing this year's tax return, whether you or a Professional are lodging it.

1. Get it Right the first time

2. Support deductions with evidence

3. Know what is ‘claimable’

1.Getting it ‘right’ the first time saves both you and the ATO time and effort. Make sure your end of year Income Statement is complete with all relevant facts. Don’t guess vital information and avoid submitting incorrect or misleading data. Mistakes can cause delays in processing, there is potential for penalties and can slow down receiving a refund if due.

2.Support your deductions with evidence. If you are claiming any expenses, such as ‘remote’ or working from home costs be prepared to provide proof, (receipts/ documents) to support eligibility. All deductions require evidence to back a claim.

3.Know what is claimable. Know what you are entitled to claim! For example, work-related education and training and donations to charitable organisations. Also, subscriptions, union and membership fees if they are work related. But remember if your company pays for them, you are not entitled to claim the cost.

Call on an expert to help you get the most out of your hard work and tax dollar!

Contact Blackburn Accounting, we tick all the boxes when it comes to tax matters.

We will work closely with you to help avoid any mistakes, to stay in compliance with tax laws and make sure you claim all the deductions you are entitled to.  Don't delay, contact us now to make your appointment.