Tax time rolls around every year, but that doesn’t mean it gets any easier. Whether you’re thinking of lodging your return yourself or wondering if it’s time to call in an expert, it’s worth taking a moment to assess what’s right for you.
Here are a few questions to ask yourself, and how working with a tax professional might help make the process faster, easier and more rewarding.
Has your situation changed this year?
If your income or personal circumstances are different from last year, your tax return may not be as straightforward as you think. This could include:
- Starting a new job or working multiple jobs
- Receiving Centrelink payments
- Running a side business or freelance work
- Changes in investments, property or superannuation
- Getting married, separated or retired
A tax agent can help you navigate any new complexities and make sure nothing is missed.
Are you confident about what you can claim?
From working-from-home deductions to self-education expenses and investment-related costs, there are plenty of legitimate ways to reduce your tax. But figuring out what’s eligible and what’s not can be tricky.
A tax professional can help you claim everything you’re entitled to, while staying well within ATO guidelines. That means more peace of mind and potentially a bigger return.
Do you have all your documents in order?
It’s easy to lose track of receipts or forget about a bank account that earned a bit of interest. An accountant will help you work through what’s required and ensure your return is based on complete, accurate information, reducing the risk of errors, amendments or ATO follow-ups.
Are you worried about making a mistake?
Mistakes on your tax return, even unintentional ones, can result in delays, penalties or a reduced refund. If you’re second-guessing yourself, a registered tax agent can take the pressure off and ensure everything is correct before you lodge.
Need help? That’s what we’re here for
At APS, we offer a range of tax services to suit your needs, from simple express returns to more complex accounting support. You don’t need to sort it all out alone. Let our friendly team guide you through and help you get the most out of tax time.
Chat with the APS Tax & Accounting team.
Written by APS Chief Financial Officer and head of APS Tax Accounting and Business Services, Stephen Fry.
Stephen is an accountant with over 13 years of professional expertise in the areas of taxation and accounting. Currently serving as Chief Financial Officer and head of APS Tax Accounting and Business Services, Stephen offers comprehensive guidance and ensures compliance in all tax-related matters. He has developed a specialised focus in areas such as self-managed superannuation funds, cryptocurrency taxation and leveraging software and technology to assist clients in streamlining their processes. Beyond his professional pursuits, Stephen cherishes quality time with his family and enjoys unwinding on the golf course. On the weekends he also enjoys following the AFL and watching British comedy television.