Tax return is one of the most important events for any organization. However, there are many business owners who made certain mistakes while filing their tax return. In this post, I have given three most common tax return mistakes you likely to make if you are not hiring Sydney accountants and tax agent.
1. Ensure you use accurate amounts when entering earnings, deductions and the amount of tax you’ve paid. This is certainly most common tax return mistake that is easily avoided if you hire professional for this work.
2. Forget to mention donation that you have given or charity work done in the year. As a result, it is considered as a payable income and you need to pay the tax for the income which you have already donated.
3. Not showing all your investment is another common tax return mistake. It is important that you get the proper capital gains tax advice from professional accountant otherwise you are bound to make this mistake.
To know more about the small business accountant, contact Gotsis Accounting Sydney.
