Did you find yourself struggling the get all your receipts and invoices in order for your tax return this year?

Make sure you don’t make that same mistake again buy downloading this handy tool – myDeductions.

Benefits of using myDeductions:

• it’s a fast, easy way to capture information on the go
• it keeps your deductions organised – no more faded receipts and lost information
• it makes tax time quicker by uploading your deductions to your tax return
• it’s an easy way to give your tax agent your records.

Simply download the ATO app to your smart device and choose whether you’d like to use the tool as an individual, sole trader, or both. Then you can add:

• deductions/expenses
• vehicle trips
• income (if you’re a sole trader)
• photos of your invoices and receipts.

There are How-to videos for a demonstration of how to add an expense and more.

Whether you lodge your own return or use a tax agent, myDeductions can help you keep your tax records. At tax time you can upload your data to pre-fill your tax return or email it to your tax agent.

Make sure you record your information on a single device throughout the year because you can only upload once per financial year. Back up your data regularly in case your device is broken, lost or stolen.

Bottrell Wealth

Bottrell Wealth are expert financial planners, with a vast array of experience with businesses of all shapes and sizes. Our knowledge extends past financial planning into, accounting, taxation, marketing and recruitment. With over 20 years dealing with businesses and individuals, Bottrell Wealth can help you reach your goals!

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