1. Keep a separate file for all taxation documents, including receipts, any health-care claims (private and public), superannuation payments, share dividends and extra income. It’ll save you hours of unnecessary hunting and gathering when the end of financial year comes around.
2. Use a tax agent to compile and submit your tax return. If your financial affairs are relatively simple, hiring a tax agent or accountant to do the work for you is a quick and inexpensive way to get your return in on time without the headache of compiling it yourself.
3. Consider submitting your return online, with NETFILE, for instance. It’s fast, efficient and free (the first time you lodge a return online it will take longer than subsequent times).
4. NETFILE has the added benefit of automatically working out how tax law applies to you and what your refund or liability will be, without you having to take the time to consult a professional. You’re also less likely to incur a fine or have to amend your return after submitting it.
5. If you can’t submit your tax return online yourself, employ a tax agent to do it for you. Some tax firms specialize in obtaining fast tax refunds via an online portal to the tax office, which puts the refund money in your pocket sooner!