Forget rent or groceries – your largest expense is tax. If you want to pay as little as legitimately possible next tax time, you need to start now.
Associate Professor Adrian Raftery is the director of Professional and Executive Execution (Domestic) at the Deakin Business School. He is co-chair of the Financial Planning Academics Forum and chairperson of the AIOFP. Previously, Adrian ran an award-winning accounting and financial planning practice in Sydney for more than a decade and also worked at Deloitte and Pannell Kerr Forster. He is a Fellow of the Institute of Chartered Accountants, a Certified Financial Planner, a CPA and a Chartered Tax Adviser. Known as Mr Taxman, Adrian is the best-selling author of 101 Ways to Save Money on Your Tax – Legally!
With the end of financial year just around the corner, here are five common mistakes to avoid when doing your tax this year.
With June 30 looming, it pays to get your paperwork in order to make the most of deductions and benefits. Here are five things you need to do.