Speak Out April 2017 low res FINAL

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June 2017 Speak Out 27
THE AUSTRALIAN TAX OFFICE recently put together
some tips to help you to get things right in your tax return.
Tax time is fast approaching again; when you are ready
to lodge your tax return this year, you can use myTax or a
registered tax agent.
If you are preparing to lodge your own tax return you have
until 31 October to lodge; if you are using a registered
tax agent you should make contact with them before 31
October.
Last year 85 per cent of speech pathologists lodged their
tax return on time, which means very few of us were hit
with a late lodgment penalty.
The ATO has the top three tips for making tax time hassle-
free this year.
1. Know what you can and can’t claim
Work-related expenses are costs you incur that are directly
related to earning your income. These might include self-
education or professional memberships, for example your
membership with Speech Pathologists Australia. To claim a
work-related expense, make sure:
• you spent the money yourself and weren’t reimbursed
for it,
• it was directly related to earning your income,
• you have a record to prove it.
2. Avoid common mistakes
Every year the most common mistake the ATO finds is
people forgetting to declare all their income (for example,
bank interest).
If you lodge online, information provided to you by your
employer, banks, government agencies and other third
parties is pre-filled into your tax return.
Most pre-filled information is available by August. Waiting
until then for your personal information to be pre-filled into
your tax return will reduce the chance of you forgetting
something.
If you realise you’ve made a mistake, or left something out,
you can request an income tax amendment to fix up any
errors using myGov, or just speak to your tax agent.
3. Leave the shoe box for shoes…
If you haven’t already, why not download the ATO App?
The ATO App is a quick and simple way for you to track
your expenses in real time, take and store photos of your
receipts and prefill your tax return all in one handy spot.
This leaves the shoebox for shoes, not receipts.
The myDeductions feature lets you record:
• vehicle use records, such as travelling between two
workplaces (for example, between two hospitals when
you are visiting clients);
• receipts for equipment you purchase and use for your
work, which could include, clamp-on mirrors, or go-
talk communicators; and
• other expenses you may have had in earning your
income such as professional indemnity insurance or
subscriptions to journals.
The app also allows you to digitally send all your expenses
directly to your registered tax agent if you use one.
For more information
Visit the ATO website, , or ato.
Stay updated via ATO social media. Like, follow, connect
or subscribe for the latest tax and super information and
changes, initiatives, products and services, as well as
reminders and tips to help you manage your tax affairs.
Search for the ATO on Facebook, Twitter, LinkedIn and
YouTube.
If you have more questions you can phone 13 28 61
between 8.00am and 6.00pm, Monday to Friday, or use
the other ATO contact options outlined above.
Talking about tax….
making it easier to get it right