Lucky for us, the Australian Taxation Office (ATO) have provided some helpful tips on how to successfully submit your tax return for the 2020-2021 period.
To make sure you are getting the most possible out of your tax return, you need to be certain about what you can claim. The ATO lists a variety of expenses that you can deduct as an employee tradie or a small business, which you can find here.
Make sure to lodge your returns before the deadline this October to avoid facing a penalty!
Please note, we are not a financial advisor and are only sharing this information provided by the Australian Taxation Office. If you require further advice, please consult with an accountant or financial advisor.
For more information about key changes this tax time, what you can do to prepare and things to consider before lodging, visit https://www.ato.gov.au/Tax-professionals/Prepare-and-lodge/Tax-Time-2021/.