H&R Block have published an article which provides tips on how to maximise a tax refund.
Their tips focus on how to maximise a refund with business, home office, car and mobile phone expenses.
Their tips for those who run their own business focuses on utilising the $20,000 instant asset write-off and provides examples of items where business owners can reap the most benefit.
Their tips for those who have a home office emphasises that deductions can be claimed for costs arising from working at home, what kind of expenses can be claimed and how to take advantage of EOFY sales.
Their tips on car expenses emphasises the importance of keeping log books up to date, as well as making sure that additional pieces of evidence to back up claims are available.
Their tips on claiming mobile phone costs relate to claiming the business use of the phone, having phone bills ready for tax time and logging business/personal use.
H&R Block also provide tips on making last minute charitable donations, prepaying some expenses for next year, deferring taxable income and offsetting capital gains against capital losses.
H&R Block also provide a reminder in the article to have written evidence available for every claim.
H&R Block’s article and tips can be read in full here.