It’s nearly that time of year again, so here are a few tips for tax time.

You can claim work related travel:

·        If you use your car to carry bulky tools or equipment which you use for work and can’t leave on the work premises.
·        If your home is a base for employment.
·        If you regularly work at more than one place each day.

When claiming work-related expenses:

1.      You must have spent the money yourself
2.      It must be related to your job
3.      You must have a record to prove it

If you’re unsure whether you’re claiming correctly, check out this series of videos that can help with getting your deduction claims right.

To make claiming deductions easier, the ATO’s free app will soon feature a new deductions tool. The tool will let you record your work-related receipts to help with your record keeping for tax time 2016. The tool will then pre-populate your return for next year, saving you time and effort.

The ATO’s app also has a range of tools and features you can use right now. You can look up an ABN, check if your suppliers are registered for GST, get reminders for important lodgement and payment dates, and calculate your fuel tax credits.

This year taxpayers who claim deductions can take advantage of the ATO’s quick and easy lodgement method – myTax. myTax gives users a fast, lodgement experience, with some people completing their 2014 return in less than ten minutes. It’s free and is available through myGov on smartphones, tablets and computer.

If you’re a tradie that runs a small business the ATO app has plenty of useful functions to help with your business tax matters. You can:

·        book an after-hours call back from the ATO so you don’t have to set aside time during your working hours
·        find out if your employee is eligible for super guarantee (SG)

  • calculate the amount of tax you need to withhold from salary and wage payments
  • work out if your worker is an employee or a contractor for tax and super purposes

So make sure your deduction claims are in order and take advantage of the tools on the ATO app to make tax time easier.

Information provided by the ATO