Apart from hiring a bookkeeper, there are a lot of other things you can do to file your tax and get a refund quickly. Some of them are discussed below
File as soon as possible
Make sure you do accounting for your tax as fast as possible. This is what will help you get your money fast. If you’re too busy, you can always use a bookkeeper.
There is a chance of theft when it comes to expecting your tax return. When criminals get access to personal information, they can carry out a tax theft. When the genuine taxpayers file for a refund, they will get a message that they have already filed. The only thing the taxpayer can do is exercise patience and wait for the tax collection agency to sort everything out. This is why it can be good to file your return quickly.
Don’t use the mail
If you decide to for a paper return, accounting for your tax will take a long time. On average, the processing of paper returns takes seven weeks. The best decision you can make is to file your tax electronically. Within three weeks, the tax collection agency will give you your refund. There are three ways to file your tax electronically. They are listed below
1. Free service
If your income is not much, you can use tax preparation software recommended by the tax collection agency. The software will make it easy for you to file your return. In general, only people that earn less than $69,000 are allowed to use the free service.
2. Fillable form service
If your income is more than $69,000, you will have to use the fillable form service. You just have to fill a tax form and carry out bookkeeping electronically.
3. Tax software
This is the method that the best tax preparers use. Almost everyone has access to tax software. For people that earn little, there is a free version of tax software available to them.
Skip checks
If you register for a deposit, you can reduce the time of getting your tax refund significantly. The money you’re expecting will directly be sent to your account. With the use of direct deposits, it is even possible to spread your refund into three different bank accounts.
Monitor your tax refund
If you have requested your return, you can track its progress with your tax collection agency. Even though tracking won’t help you get your return faster, it will help you know when you will get your money.
Shoebox Books doesn’t only provide bookkeeping service for small businesses. They also provide tax services. No matter where you go in Australia, you can always use our service. You can contact us on 1 300 65 35 83 or visit shoebox books.
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