How To Lodge Your Tax Returns – Tax Returns Exmouth 101

If you are clueless about tax, and you don’t know where and how to begin lodging your tax returns Exmouth there are two kinds of people who might be able to give you hand:

1. Family and friends
Family members or perhaps a friend could help you preparing all the things you need. This works best for those who have pretty straightforward tax situations. This is not advisable, though, if you have a more complex return.

All you need to do is sign the return yourself. The downside is that you are still legally responsible for the accuracy of the details it contains. The good news is that they can’t charge you any fees for the preparing your tax returns.

2. Registered tax accountants
If you want to have the peace of mind knowing that your tax returns Exmouth is lodged accurately and properly (in a manner that maximises your refund and minimises your tax) – it’s best to use the services of registered tax accountants. There are so many benefits that comes with using tax accountants in Exmouth:

- You don’t need to waste time on excessive paperwork. Instead, you can spend your precious time with other more important and valuable things.
- You can have a clear idea of how to lodge your tax returns without missing any base that needs to be covered.
- You can avoid errors, inaccuracies, and having to face some issues with the Australian Taxation Office in the future.

Getting Started – Information You Need To Prepare
There are various documents you need to gather when preparing your tax return. These include your tax file number and financial records or payment summaries.

The financial records you need to prepare are:
● Statement from financial institutions – i.e. building societies and banks.
● Statement of earnings – i.e. managed investment fund or units in a unit trust.
● Buy and sell advices – i.e. from your stockbroker or investment advisor for any shares you have bought or sold
● Receipts – if you want to claim deductions

You also need your Tax File Number (TFN).
A Tax File Number is a 9-digit number – which comes in three groups appearing this: 987 654 321. Having a tax file number is important when lodging tax returns Exmouth. You need to apply for one if you don’t have it before you can lodge tax returns.

You TFN can be found on:
- a payment summary from your employer
- any correspondence the Australian Taxation Office have sent to you
- notice of assessment of your last income tax

Even if change your name, move interstate, or change jobs – your TFN is yours for life.

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