With tax time upon us, and COVID still complicating our world, you can be forgiven for feeling an impending sense of worry about getting your figures right as EOFY approaches.
I know I do!
To help single mothers across Australia, I talk to Tim Loh who is the Assistant Commissioner at the ATO and tax time spokesperson for 2021.
Between Tim and I, we cover off on any questions that might arise for single mums lodging tax returns, including handy tips, shortcuts and where to go for further support (which you probably won’t need if you listen to the podcast!).
Helpful tips to complete your tax return in 2021
Listen to Tim provide the lowdown on these points:
- Whether you need to lodge a tax return and how to do it
- What can (and can’t) be claimed as a work related expense
- What to do if you get a tax bill after lodging your tax return
- The tax implications if you have received JobKeeper, JobSeeker or accessed super under the COVID measures
- What you need to know if you have been working from home
- How the Services Australia (ie. Centrelink) end-of-year balancing works
- Specifics for lodging a tax return as a single parent
- Tips for mums with kids who are entering the workforce
- Where to get help if you need more support – here is the link Tim mentions: Tax Time Essentials