‘Top Tips to Increase Tax Refunds!’ by Miriam Clappis published in Great Health Guide (Aug 2015). It’s that time of the year again where we have to fill in our tax forms. Find out how to increase your tax refund this year!
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FINANCE: Top Tips to Increase Tax Refunds
written by Miriam Clappis
It’s tax time… and no one ever says ‘I want to pay more tax!’ Discussing tax deductions is probably my favourite part of helping people with their tax returns. Why? Because deductions means more money in YOUR pocket for YOUR tax refund.
It’s pretty simple, the more deductions you can claim, the more refund you’re likely to receive. What is not so simple, is knowing the ins and outs of the rules to make sure you claim every deduction possible.
That’s where we come in.
Not many people realise that your records can be receipts, as well as bank statements which show the transaction purchase – and also your diary entries.
Now before we go through our top 10 tax deduction tips, it’s important to remember three basic rules:
You must have spent the money
It must be related to your job
You must have a record to prove it.