ATO Tax Talk: Tax time

What deductions can I claim on my tax return? Source: Getty Images

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When lodging your tax return, you need to be aware that scammers are known to increase activity around tax time so make sure you know the status of your tax affairs and be aware of what you share.

October 31 is the due date for either lodging your own tax return or contacting a registered tax agent. If you’re a small business and you lodge your business activity statement (or BAS) quarterly, just a reminder your October lodgement is nearly due.

You can lodge your personal income tax return online via myTax, or you can lodge through a registered tax agent. Once you’ve lodged, keep an eye on your myGov inbox for your Notice of Assessment.

There are a number ways you can lodge an income tax return for your business, and the choice you make may impact when it is due.

For more information on how and when to lodge an income tax return as an individual or for your business go to

www.ato.gov.au

and search for 'tax returns'.

And go to

scamalerts

to learn about the latest tax scams

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