The mistakes you cannot afford to make on your tax return

1. You haven’t declared all of your income, (including allowances, Centrelink, Uber, Airtasker etc)

The ATO knows about the money you received from Centrelink or earned on those occasional Uber rides, Airtasker jobs

2. You have claimed all ‘receipt-less’ deductions to the max:

Work-related deductions to $300, laundry expense to $150 and car expenses for 5,000 kilometres. The ATO is paying special attention to work related deductions this year

3. You are claiming substantially more work-related deductions than other people in your field earning a similar salary

The ATO benchmarks all people in the same occupation against each other. If you’re claiming much higher deductions than average, the ATO might take a closer look. Note: That doesn’t mean you shouldn’t claim all of the deductions you’re entitled to, but you should always make sure you have evidence to support your claim

4. You have an existing ATO or other government debt:

If you have an existing debt with the ATO, or Centrelink or the Family Assistance Office, or any other Government agency, your return may be delayed as the ATO will often use your tax refund to pay down these other agency debts

5. You haven’t updated your personal details with the ATO before lodging your tax return

If you’ve changed your name since you last lodged a tax return (for example, if you’ve gotten married and changed your surname), and you haven’t told the ATO, your return could be delayed while they verify your identity, as your name no longer matches their records.

6. Your employer hasn’t submitted your PAYG to the ATO:

When your tax return is received by the ATO, they check the income information matches the data provided by your employer. If your employer doesn’t submit your PAYG to the ATO, then they don’t have a reference point to check against and can sometimes delay your return.

7. You have old overdue tax returns:

If you’ve been dragging your feet and have old overdue tax returns to lodge, the ATO can sometimes delay processing of your return while they wait for you to get your affairs up to date.

8. You’ve had a Capital Gains Event (CGT), but haven’t included Item 18 – Capital gains on your tax return

If you’ve sold shares or a rental property, and didn’t declare it on your tax return, the ATO might flag your return for a closer look.

Part of the ATO’s sophisticated technology allows it to data match with other government agencies and financial institutions.

9. You haven’t included your spouse (or their name is wrong)

If you have a spouse, you need to include their details on your tax return.

10. You forgot to include bank interest

 If you make any money from bank savings accounts, it needs to be included on your return. Leave it off and you run the risk of delays with the ATO. 

Source: Etax Accountants  



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