Individual Tax Return Tips #1 – Want to maximise your refund?
To maximise your tax refund, you need to maximise your tax deductions. So be prepared before your tax meeting – look for your purchase receipts for travel, tools, equipment, uniform, professional development, union fees, conferences, protective clothing and shoes, home office equipment, lap tops, computers, internet, mobile phone costs and accessories, ipad, donations, income protection insurance, etc.
Write down any car travelling requirements and the trips over the year (or if you use your car for work most days, bring your car purchase details, registration, insurance, services and repairs, and odometer readings over the year to claim a % of your total vehicle costs).
Where to keep receipts for the next 12 months? Take photos with your phone and keep in a folder on your phone, and use the notes section on your phone to record travel and other items relating to tax return.
By Patrick Hoey