There are a few things that you can do to prepare and make it easier for yourself (and your accountant!) once tax time rolls around:
- contact your tax accountant to make an appointment early in the new financial year
- get your travel records in order, including your vehicle log book
- make sure you have accurate records of any deductible expenses and locate any receipts that you may have been issued
- if you have had a number of employers during the year as you have travelled, they will each be required to send you a Group Certificate at the end of the financial year. If you make a list now you can tick them off as you receive each one, making sure that you receive them all before you meet with your accountant.
- if you have changed any of your contact details in the last 12 months, now is the time to contact any employers you have worked for to ensure they have the correct details for you to send out your Group Certificate.
If you are on the road or don’t have your own tax accountant, you can contact BAN TACS Accountants (www.bantacs.com.au), who specialise in tax for traveling workers. BAN TACS Accountants also have a number of resources and booklets on their website that you might find useful. In particular:
- Travel Records Schedule – www.bantacs.com.au/docs/t1.pdf
- Receipt diary – www.bantacs.com.au/docs/t4.pdf. This is particularly useful for smaller expenses (under $10) or if a receipt is not issued (for example, for purchases from a vending machine, automatic toll booth, or washing machines in caravan parks).
You can also download the booklet “Claim Your Trip Around Australia as a Tax Deduction” that is produced by BAN TACS Accountants in conjunction with No Boundaries – just click here for the download.