Flourish - Latest Edition - Flipbook - Page 44
MONEY
TAX TIME MADE EASY:
Simple
tips to get
it right
BY CON BARBAYANNIS, CPA
Ah, tax time. For most of
us, it rolls around faster
than we’d like — and
let’s be honest, it’s not
exactly anyone’s idea
of fun. But with a little
preparation (and some
friendly guidance), you
can glide through it with
less stress and maybe
even score a better
return. Let’s unpack
some simple, no-fuss
tips to help you sail
through tax season.
1. Get Organised Early
You don’t want to be
scrambling the night
before the deadline. Start
by gathering everything
you’ll need:
• Income details (payslips,
payment summaries,
bank interest, etc.)
• Deduc琀椀on records (like
work-related expenses,
charity dona琀椀ons, and
investment costs)
• Private health insurance
details
• Statements for any
investments or rental
proper琀椀es
The Australian Taxa琀椀on
O昀케ce (ATO) usually pre昀椀lls some of your details by
late July, so wai琀椀ng a few
weeks can actually save
you 琀椀me and hassle!
TIP: Check out the ATO’s
myTax online tool — it’s
free and pre-昀椀lls a lot of
your info.
