Finance Tax time tips

MARK CHAPMAN, director of tax communications at H&R Block, tells

CLAIM WHAT YOU’RE ENTITLED TO

If you’ve spent money as part of your work and you have the paperwork to prove it, claim it. Among common deductions are: • Costs of using your own car for work (not driving to and from). • If you’re required to work away from home, costs like meals and accommodation are often tax deductible.

• Tools and other work equipment up to $300. You may be able to claim your laptop, phone or even a handbag if used for work.

DON’T EMBELLISH DEDUCTIONS

You can only claim what you’ve spent. Don’t inflate deductions in order to get a bigger refund, and only claim for costs you can prove you spent by producing an invoice or bank statement.

DON’T RELY ON PRE-FILLED DATA FROM THE ATO

You can pre-fill lots of your income information straight from the ATO’S systems but don’t assume that the data is correct or complete. Use your own information (payment summaries, etc) as the key source data. The legal burden will be on you.

DON’T FORGET THE BASICS

You need to make sure the basic details, like your name, address and date of birth are correct and up to date. If you get it wrong there’ll be a data mismatch and your tax refund will be delayed.

GET HELP

Get your tax return wrong and you may get a lower refund or ATO penalties. Having an agent complete your tax return ensures it will be accurate. They can sniff out deductions you didn’t know you could claim, and their fee is tax deductible.