2018 Tax Return to Maximize Your Tax Refund in Ashfield Sydney

The tax return 2018 season is finally here. If you are preparing for your tax return and want to maximize the tax refund, please read on.

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Maximize tax refund in sydney and ashfield

This time, the Australian Taxation Office (ATO) is focusing its audit attention on individual tax returns and especially work-related expenses.

tax return 2018

How to prepare tax return 2018

From the 2017 budget, the Federal Government allocated millions of dollars to the Australian Taxation Office (ATO) to combat and enhance the compliance aspect of the taxation system.

The ATO’s Focus Areas in 2018: Work-Related Deductions and Vehicle Expenses

The ATO’s focus audit area this year will be on other work-related deductions and vehicle expenses. If you are working and preparing your tax return for 2018, aiming to maximize your tax refund, please be cautious about the amount of deduction you claim.

Trusted Expertise in Sydney and Ashfield: Your Financial Allies

As one of the most trustworthy and professional accounting firms and tax agents in Sydney and Ashfield, we will not only help you maximize your tax refund in a compliant manner but also ensure that any audit or compliance risks are rectified.

This year, we will employ specialized tax software to compare your claimed work-related deduction against the ATO benchmark specific to your occupation, age bracket, and area of residence.

It is important to note that to claim vehicle-related expenses, you must use either the logbook method or the cents per km method. For the logbook method, it is crucial to maintain a logbook during the income tax year for at least 12 continuous weeks.

Other focus areas include laundry expenses and uniform expenses. To claim laundry expenses, one must have a valid uniform or protective clothing meeting ATO standards.

Feel free to give us a call, as one of the most trustworthy and professional accounting firms and tax agents in Sydney and Ashfield. We will manage your tax affairs, help you maximize your legal entitlement to work-related deductions, and ensure that your compliance or tax audit risk is minimized.