Considerations when lodging your tax return

When lodging your tax return, there are several important considerations to keep in mind:

Accuracy of information

Make sure all the information provided in your tax return is accurate and complete. Providing false information can result in penalties, ranging from fines to jail time.

Keep records

Keep records of all your income and expenses for the financial year, as these will be needed to complete your tax return.

Claim all eligible deductions

Make sure you claim all deductions that you are entitled to, such as work-related expenses, charitable donations, and self-education expenses.

Keep track of deadlines

Be aware of the deadline for lodging your tax return, and ensure you submit any required documentation by then.

Seek professional advice

If you are unsure about any aspect of your tax return, consider seeking the advice of a tax professional.

Double check your return

It’s a good practice to check your tax return before submitting it, to make sure you have included all the relevant information and attachments.

Keep a copy of your return

It’s always good to keep a copy of your tax return for your records.