๐ถ It's the most wonderful time of the year ๐ถ
Merry tax return time to those who celebrate.
Hopefully you've had someone in your life help you with it before and you've got an idea of what to do. For most young workers it's a pretty simple process but for those with multiple jobs, working as independent contractors or have dependants, it can get complicated pretty quickly.
Here's 5 important things to remember:
Generally, you should claim the tax-free threshold on one job at a timeโ usually your higher paying job. If you don't, you'll probably end up paying more tax than you need to. While you may get that back in your tax return, it's probably a good idea to make sure your details are up to date.
Where to go to get more information
Don't have an accountant or getting professional advice? Then check out the ATO's website. You can even check out what your tax rate should be or get the information in languages other than English.
Don't forget we are here to help. For general advice or support give us a ring on 0448 681 116 or leave a comment below.