The tax season is usually stressful for many Australians. Sometimes even straightforward tax returns may become a task of going through personal records. The Australian Taxation Office (ATO) works hard to note any errors in tax returns. Every year, the ATO gets more tools and access that make it easy to observe these mistakes. Thus, it is difficult for one to get away with a few minor errors in their tax returns. Here are some tax filing mistakes you will likely make when working alone. 

Not Getting the Exact Income or Tax Paid

When filing your returns, it is vital to put in the accurate figures for income and tax paid. Keep in mind that the ATO has this information with them. Therefore, they will compare the details you enter with their data. Though they may not know other income types you get, such as consulting, they can still see your accounts. It is not easy to identify the exact figures of your income due to some deductions such as PAYG. A tax expert, however, knows how to get accurate numbers for your income. That will prevent raising any red flags.

Failing to Include Income From Overseas

Many Australians go to work overseas for a certain time in their lives. Most of the time, these Aussies forget that they still need to pay taxes. Some assume they will not need to file a tax return once they get back home. These are errors that could get you on the wrong side of the law. It is vital to seek the help of a tax expert if you work overseas. The agent will let you know the tax sum to pay. Do not take the option of preparing a tax return alone unless you know exactly what to do. 

Claiming Too Much for Rental and Holiday Property

Anyone who owns a holiday or rental property should understand that not all expenses are up for claiming. The ATO has placed strict rules for when you can claim tax deductions from properties. For instance, costs for joint ownership should be split evenly. You also cannot claim deduction on a holiday rental if you do not rent it out. Your tax accountant can help you file and request returns depending on ATO's guidelines. 

Conclusion

If you make tax filing mistakes, then you may end up getting audited. You might also end up paying costly fines. You can avoid such instances by working with taxation services. The professionals will work to prevent mistakes and ensure you get the most out of your tax each year.