10 tips for a smooth tax time
ALMOST half a million Australians lodged a tax return for the first time in 2015.
It can be a bit intimidating, but here are ten tips to make it easier.
1. Make sure you have a tax file number (TFN) You do not have to have a TFN, but without one you will have more tax deducted from your pay and you will not be able to lodge a tax return.
2. Check if you need to lodge. Use the ATO's online 'Do I need to lodge?' tool that will work it out for you.
3. Know your options
4. Access ATO's online services
5. Claim your work related expenses
6. Declare your fair share
7. Fix mistakes as soon as possible
8. Patience is a virtue
9. Lodge by October 31
10. Track your progress
Tax returns lodged using myTax or a registered tax agent are usually processed within two weeks.