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  • Tips to get the most bang for your buck

    13 April 2022

    Sometimes it makes more sense to outsource your tax obligations, especially when they can be done more efficiently by a professional. Tax and BAS agents can make reporting and lodging a lot easier.

    Help them help you! Here are some tips to make the most of their expertise and get the most value for your money.

    You can find information yourself, for example through the ATO website and ATO Community, but then contact your tax professional to understand how it applies to you.

    It helps to always keep your source documents and your records organised throughout the year. The less time your agent needs to spend sifting through your paper receipts and other records, the more time they can spend on more complicated parts of your tax affairs.

    Cross-checking your records against the original documents can also make it easier for you to pick up mistakes earlier.

    If you’re a sole trader, try using the myDeductions tool in the ATO app to capture your expenses as they arise. Then you can simply email the data to your tax agent when it’s time to do your tax.

    Remember, tax and BAS agents can help you with your tax, but at the end of the day you’re responsible for what you report and claim in your returns.

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