Tax time usually divides us into two categories of people.
Are you the person that understands their tax entitlements down the last cent, and plans throughout the year accordingly? So that when it’s time to file your tax return, you have no doubt that you’ve maximised every benefit available to you?
Or are you more of a fly by the seat of your pants kind of person? Mostly ignoring the concept of tax throughout the year, and then hoping it will ‘sort itself out’ at tax time. Usually this leads to the dawning realisation that you’ve wasted another year-full of opportunities to reduce your tax bill.
If you’re in the second category, you’ll know that every year the time crunch means that you often don’t fully understand your entitlements, and even if you do you – don’t take time to action them.
When it comes to tax, preparation really is the key to success. Here are 10 essential tax tips, that will reduce stress (and increase your refund), come June 30.