Tax time

In Australia, the financial year runs 1 July – 30 June. That means tax return time is coming up (while you can submit your return from 1 July, you have until the end of October to get them in).

I’m trying to be organised and get our paperwork sorted and submitted sooner rather than later. The problem is, my desk is now buried under receipts. I have no choice but to get it all sorted so I can use my desk for anything besides tax paperwork!

I always start off the financial year keeping everything sorted. Trouble is, by about March things have usually gone pear shaped and the best intentions out the window.

I guess I know what I’ll be doing this weekend.

Do you stay on top of your tax paperwork all year, or is it a mad scramble to get it done?

11 comments on “Tax time

  1. Giggling Fattie

    June 27, 2022 at 10:08 pm

    Thankfully I don’t have anything to stay on top of. I just get my tax forms from work and my tithing forms from church and ask for a receipt from my landlord for tax and that’s all I need to put into the system. And I try to get it done as soon as possible as well. We have from mid-February until sometime in April to file but I never wait until later than March. This year I did mine over March Break holiday from school haha

    • You can’t claim resources you buy for work? What about masks for WHS at work? That’s the thing that takes the time, it’s all the receipts I need to go through…

      • Giggling Fattie

        June 28, 2022 at 10:25 pm

        We have masks provided at work. And I have cloth ones. Thankfully we don’t have to wear them anymore. YAY! And anything else I buy for work, I just submit to accounting and get reimbursed for.

  2. Husby does our taxes; I write the books. So, tax season is pretty painless for me!

  3. Our filing date is April 15, and the tax paperwork starts coming in after the first of the year. I scan it all into Evernote and keep the originals in a folder. I’d do it the same way if I was collecting receipts all year (in fact, I’d be sure to use it then).

    • We don’t have “paperwork that comes in” too much. We get a document from our employer (although they are all pretty much auto filled in our online tax return system these days, so don’t have to worry about them). We need receipts for all the claimable expenses, which happens all year.

  4. Good luck getting it sorted. I know you can do it.

    • Thanks, Liz. I’m sure I will – I seem to manage every year, it always seems such an enormous amount of work every year though, lol.

  5. I will admit that taxes were a lot easier when I worked for someone who took taxes out of me.

    My balance sheet is a lot more complicated now, and I have to file quarterly estimates of how much I will make. That is enough of a reason to hire someone else to put it all together. Since I have sold stuff all over the world the US of As tax time doesn’t mean a lot. I have file an extension every year.

    • If I had a business I would make sure the budget included an accountant. Just doing our personal returns is enough for me!

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