Extend the deadline to lodge your tax return

The tax return deadline is approaching fast. If you have not done the FY2023 tax return, please remember the deadline to lodge it would be 31 October 2023 unless you have registered your name with a registered tax agent, in which the deadline will be extended to May 2024. Please give EndureGo Tax a call on 0410-829-900 to register your name hence you will have more time until next year to prepare your tax return.

tax return deadline

Extend your tax lodgment deadline

Many individuals missed out on the maximum tax refund due to a lack of guidance in optimizing work-related and investment property deductions.

Common Work-Related Deduction Pitfalls

Avoiding these common pitfalls ensures individuals do not miss out on valuable deductions:

  1. Overlooking Home Office Running Expenses: Taxpayers working at home after hours may neglect claiming home office running expenses.

  2. Neglecting Sun Protection Items: Failure to claim sun protection items when spending substantial time outdoors can result in missed deductions.

  3. Incorrectly Claiming Self-Education Expenses: Incorrect claims for self-education expenses can hinder taxpayers from maximizing their deductions.

  4. Inaccurate Vehicle Expense Claims: Not claiming the correct vehicle expenses leads to underestimating overall deductions.

Overlooked Investment Property Deductions

People often fail to claim crucial deductions for their investment properties, especially:

  1. Neglecting Travel Expenses: Unclaimed travel expenses for investment properties can result in missed deductions.

  2. Ignoring Depreciation Expenses: Failing to account for depreciation expenses on investment properties leads to potential loss of deductions.

Critical Consideration for Second-Hand Dwellings Post-July 2023

Important note: From July 1, 2023, travel and depreciation expenses cannot be claimed for second-hand dwellings. If you own investment properties before this date, contact us at 0410-829-900 for a review of your investment property loan structure and tax return. We can advise on potential additional tax refunds in prior years and assist in amending your tax returns. Our past clients have received over $50,000 in total tax refunds after rectifying mistakes in previous returns.

Don’t miss out on unclaimed opportunities. Call us today, and let’s ensure you get the most from your tax refunds, not just in the present but for the prior years as well.