Taxing Times

Taxing Times

June is a good time to revisit a newsletter I had sent out this time last year.  'Tis the season to get your tax affairs sorted before June 30.  Preparation for tax time can be made much easier with these tips from the Australian Association of Professional Organisers (AAPO).

AAPO's Top Tax Time Tips

  • Know what you need: Keeping everything "just in case" creates unnecessary paper piles which can be very overwhelming. Talk to your accountant to find out what records and receipts you need to keep.
  • Keep it simple: Set up a simple system for your paperwork and keep everything in the same place. Use lever-arch files or a section in your filing cabinet to broadly categorise your tax-related paperwork, such as deductible expenses, pay clips, health expenses, donations and investments. Ensure each category has an envelope or folder to hold receipts throughout the year. Talk to your accountant to find out what categories or paperwork you need to keep.
  • Organise your receipts: Keep a separate section in your wallet or handbag for tax deductible receipts as you collect them. Make a note about what the expense relates to on the back of the receipt.
  • Make time to get organised: Schedule time in your diary each week to keep on top of your tax and household paperwork. It's much easier to file as you go, than try and tackle it all at the last minute. One hour a week is all you should need.
  • Archive it: Once you have received your Notice of Assessment, attach it to your tax folder and archive the records in a safe place, so that you can quickly retrieve your documents if you are audited. Talk to your accountant to find out how long you should keep your records.
  • Beating the backlog: If you have more than three years of returns to complete, dedicate a lidded plastic box or an entire filing cabinet drawer to the job. Label a new foolscap envelope for each financial year you are missing a return (e.g. 1 July 2007 - 30 June 2008). Round up all your paperwork and place in the envelope for the relevant year. Then hand the envelopes over to your accountant.
  • Seek advice: Chat to your accountant if you are unsure about what to keep, and seek the help of a professional organiser who can help you put simple systems in place to keep your paperwork in order.
Time Made
We're so excited to let you know our new website is LIVE!!  Check us out and let me know your thoughts - www.timemade.com.au

We've completed a variety of work since we last spoke, including:
  • Decluttering, downsizing and organising services.  
  • Relocation assistance and estate clearance services;
  • Drop-in house & pet sitting services;
  • Small business executive administration support services;
  • Social media set-up (actually, quite a few LinkedIn reviews & Company Pages this month) and tuition services;
  • Spoke at the recent Lockyer Valley Residential Village information session about our relocation/decluttering/downsizing services;
  • Personal administration support;
  • Newsletters;
  • & much more!
I'm pretty excited to be involved in a workshop at the end of this month.  Mind, Body & Business - 2 Day Ladies Event - sure to be lots of fun!  Tickets are still available.

I always say if you can dream it, we can do it, or arrange it.  As long as it's legal and ethical we'll get things done for you.  Have a great month.
Carolyn Brown, Time Made

Need more information?

If we can be of assistance at all, or if you have any queries regarding Time Made services, please do not hesitate to contact us.

Regards
Carolyn Brown
Director, Time Made

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