2020/21 Get ready for tax time now

It’s almost that time of year again – tax time.  Whether you are one of the 3.5 million Australians that lodge their own tax return or the almost 10 million that use a tax agent you will have work to do!

There are two good reasons to start thinking about tax now. First, there may be things you need to do this financial year to reduce the amount of tax you have to pay and second, if you start now you will have less work to after the end of the financial year.

Over the next few weeks we will send MoneyBrilliant customers specific information about tax issues to help them prepare. We will help them understand things they might consider doing before the end of year and provide information about specific types of tax deductions that we think are relevant to them.

Customers using MoneyBrilliant Plus or customers of a MoneyBrilliant Partner can also use MoneyBrilliant’s Tax Deductions feature to automatically identify expenses that might be tax deductible, record details about them and  capture receipts. If they have a tax adviser they can also share their deduction details with their adviser.

You can see a quick overview of the MoneyBrilliant Tax Deduction feature here.

You can read more about MoneyBrilliant Plus, including our Money Back Guarantee, here.

You can upgrade your account at any time by going to the Plan & Billing page in the MoneyBrilliant app.

This summary has been prepared by MoneyBrilliant Pty Ltd (AFSL 492711). The information in this summary is of a factual nature only. We are not suggesting or recommending that you take any particular course of action in relation to any financial product or service. It does not take into account your personal circumstances or objectives. If you need financial advice or taxation advice you should seek advice from a licensed financial adviser or tax agent. You may also be able to access additional information from the websites of the Australian Securities and Investment Commission (ASIC) or the Australian Taxation Office.

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