Tax time can be as easy or as difficult as you make it. I find the biggest pain when July 1st rolls around is trying to reconcile expenses and potential deductions. But I’ll tell you what, there is nothing cooler than being organised.
I’m told by my good friends over in the tax world that the ATO is eyeing off claims for phone usage, travel, internet and the good old work uniform dry cleaning (amongst other things no doubt).
So what better way to get organised for next year than to start keeping track of things now. The ATO app has actually made this super easy for you. Once you log in, head over to myDeductions, and the app will allow you to record travel, deductions and upload receipts as you go. Come tax time you’ll be able to download the full years records as a CSV file and shoot it through to your accountant.
You’ll a) not forget about deductions you’re entitled to, and b) have all of your receipts in the one place.
Maybe I just love snazzy systems and frameworks to get things done. But it works. And you’re going to love yourself come tax time next year.