What are the top 3 mistakes not to do when lodging your tax returns? - Success Accounting Group

 

It is time to claim your tax returns back! Although the lodging process seems quite straightforward and familiar, there are still the top 3 huge common mistakes that taxpayers need to know to do it right.

  1. Missing out on the expenses that you are entitled to claim as long as they incurred for work-related purposes and have sufficient supporting documents.

  1. Claiming on the amounts that you do not actually spend to get more refunds, leading to not only a tax repayment and a 9% per annum interest but also a possible penalty up to 95% of the false claims.

  1. Using available information from the ATO’s system to fill in your tax form assuming that they are the right sources for your income, leading to possible legal obligations if the information appears to be incomplete or inaccurate.

If you do not have a proactive accountant yet that is keeping you up to date with all the changes for tax and COVID-19, please click on the link to book your tax appointment, https://calendly.com/lan

 

Contact us now!

πŸ“ž03 9583 0550 Mentone

πŸ“ž03 8529 557 Oakleigh

πŸ“ž03 8511 4047 Springvale

https://calendly.com/lan

πŸ“§ grow@successaccountinggroup.com.au

https://www.successaccountinggroup.com.au/

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