One of the biggest mistakes people make at tax time is rushing to get their return in on time, and failing to claim some of the deductions they're entitled to.

The good news is that you have a lot longer than you may think to prepare your tax return for the year ending 30th June - the due date for lodgement isn't until 15th May after the last 30th June.

It's really important to make sure you get your return right because you can't change it once it's lodged with the Australian Taxation Office (ATO). If you do your own tax return it is due on 31st October.

If you use a tax agent, and you have a bill, it will be due for payment on 21st March, 21st April or 5th June, depending on when you lodged it.

The final date for lodging the tax return each year is 15th May after the last 30th June - so you have 10 months to get organised, and contact your tax agent about preparing your tax return.

If you need to lodge your tax return after the lodgment date, you may still qualify for ATO's 5 June concession.

The concession applies to:

Individuals

partnerships

trusts.

The 5 June concession gives this tax returns an extra 20 days to be lodged without penalty, provided that any payment required is also made by this date.

So make sure you lodge your tax return on time. And don't leave any of your deductions on the table by rushing it and missing out on claiming the deductions you're entitled to. 

We're here to help you out! Book an appointment with us and we'll show you how filing taxes can be a breeze!