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What is the Tax Return?
The Tax Return is the annual tax declaration that workers and tax residents in Australia must submit to the Australian Taxation Office (ATO). It is the process through which you report your income, deductions, and other tax details. Based on this declaration, it is determined whether you need to pay additional taxes or are entitled to a refund.
Should I file a Tax Return?
If you have worked in Australia and earned income during the fiscal year (from July 1 to June 30), you must file a Tax Return.
This includes employees, self-employed workers, and individuals with other sources of income, such as investments or rentals.
When should I file my Tax Return?
The deadline to file your Tax Return in Australia is generally October 31 each year. However, if you need more time to complete your declaration, you can file it after this date without issues. In this case, you may need to gather additional details about your expenses and pay some interest if the result shows that you owe taxes.
How can I maximize my Tax Return?
There are several ways to maximize your refund, such as:
– Claiming all possible work-related expenses.
– Taking advantage of any tax offsets you may be eligible for.
Our team at GoTax can help you identify all deductions and credits you might have overlooked.
Si necesitas consejo con el tax return, no dudes en contactarnos.