Taxation rules and filing tax returns can be perplexing as the guidelines are renewed quite often by the Australian Taxation Office (ATO). So, to put an end to your tax worries, Smart Tax advisors provide tax assistance for businesses as well as individuals. Be it GST or car or even travel expenses, we have got everything covered to simplify the taxation norms.
Tax Return Checklist
It’s always better to have a clear checklist of all the requirements before you file your taxes to avoid delays. According to the ATO tax return checklist 2022, below are the mandatory requirements to be fulfilled.
Travel and Car Expenses
Being an employee, you can enjoy the deductions of work-related car expenses and work-related travel expenses. You can claim for these deductions at D1 and D2 to make the maximum benefit. Complete item D1 Work-related car expenses 2022 for work-related expenses for a car you owned, leased or hired under a hire purchase agreement (and the expense is not a travel expense which you show at item D2 Work-related travel expenses 2022).
GST Tips for Businesses
GST is a crucial aspect for all registered businesses and GST reporting is a mandate. Maintaining clean and transparent records will help you stay in check with the compliance as well as level up your business.