Menu
Tax Refunds
How to get the best ATO tax refund you can
We asked five veteran tax accountants for simple ways to get a better tax refund. Here are their top tips that almost any Australian can use!
1. Claim all the tax deductions you are allowed to claim
The simplest strategy to enhance your tax refund is to deduct all of your allowable expenses.
Do you ever have to make purchases linked to your job? If so, be careful to save the receipt and/or maintain a journal to note the date or location of the transaction. A journal might also assist you to recall what task or project the purchase was tied to. Keep your receipt even if you’re unsure if an item qualifies for a claim since your Itaxonline Accountant can tell you whether you’ve properly claimed everything.
Tax deductions are the simplest method to increase your tax refund, but it’s vital to keep in mind that you may only deduct expenses that are relevant to your job, for which you have receipts, and for which your employer hasn’t already paid you.
‘Made-up claims’ or ‘generous guesses’ can lead to ATO reassessments, audits, and even tax bills arriving from the ATO. There are honest ways to increase your tax refund and that’s what your tax agent will help you with.
2. Good tax refunds = good records and receipts
At tax time, Australians spend countless hours tracking down receipts for purchases they made over the past 12 months. Those people wasted hours of time – and probably missed out on hundreds or even thousands of dollars in their tax refund because they lost or forgot about receipts!
If that sounds like you… you might be missing out on deductions that can boost your tax refund.
3. Sweat the small stuff to boost your tax refund!
A $20 donation to charity or a $10 textbook might not seem like much at the time, but each of these small purchases across 12 months can add up to hundreds of dollars. And all the amounts you claim as deductions can improve your tax refund!
Get organised with your receipts for small purchases during the year and it’ll pay off in the long run.
4. Use a tax agent service (like Itaxonline.com.au)
A tax agent is a professional who’s on your side to help increase your tax refund and help you avoid ATO trouble.
Tax agents are here to help you. (On the other hand, the ATO’s main job is to collect taxes, not to boost your tax refund.)
70 percent of Australian tax returns are lodged with a tax agent.
Not all tax agents are the same. Some tax agent businesses let a person who may not even be a tax agent or accountant—more of a data entry worker—handle your tax return.
Your tax return will be reviewed by two different competent accountants at Itaxonline.com.au. If you have any concerns when using the Itaxonline website, you can always seek assistance, including from welcoming, experienced accountants.
5. Learn more about tax deductions to boost your tax refund
With the aid of their support staff and the Itaxonline return, you may identify any deductions you could be overlooking.
Do Your Tax Return Online in Minutes
Your return will be reviewed and checked by two Itax accountants before lodgement – giving you the confidence it was done right.
Important Dates and Tax Deadlines
2022 Tax Return
For your income between
01 July 2021 – 30 June 2022
2021 Tax Return
For your income between
01 July 2020 – 30 June 2021
All Other Years
You can do your tax return right now, online, with friendly support