Whether you are an individual, a business, or a family, in turbulent times like these, saving money is the top of the agenda.

However, we all have busy lives and it’s not until we need to review all our incomings and outgoings, such as applying for a home loan, having to pay a large unexpected bill, or potentially losing a job, that we actually realise the state our finances are in.

Have a registered accountant in your corner

Having an accountant doesn’t just help at tax time, we encourage our clients to keep in close contact and if you have a question about your tax or finances, just pick up the phone. There are no unnecessary charges, and all fees are quoted up front. We also offer you a maximum tax refund guarantee.

We find that many people start out doing their own tax returns, but as their business grows or they gain a second property for example, their tax requirements become more complication and more stressful. When you self-lodge, you need to ensure all the deadlines are met, all the figures are correct and if there are any errors, there could be an investigation which could lead to a fine. You also don’t want to miss out on any valuable deductions, and at this time Government incentives concerning Covid-19 all have to be factored in.

Get smarter with money in 2022

Before you do anything, work out your incomings and outgoings – you can use our free budget planner here This will really help you figure out where you can save money. Getting organised is the most important piece of advice we can give you.

What bills are you paying? If you have credit cards, insurances, loan repayments, utilities, internet and phone bills, and subscriptions, then these probably take a large proportion of your income. Review each one, give them a call to see if you can get a better deal, if not shop around. There is something called a ‘lazy tax’ which is when a company offers new customers a better rate than you, their loyal customer… How rude! They may even have sneakily upped your premium, so check their policy renewal letter which generally automatically renews on the higher rate if you don’t contact them.

We have an in-house insurance broker and an in-house mortgage broker, so don’t think you are stuck on a particular rate. Speak to our team, and they will be able to look into your current policies and see what savings you could make. We also have a team of bookkeepers for our business clients, keeping everyone on track.

If you are business, we would advise you to use Dext, which is a system that automatically converts all your receipts into data making it easy for you to send your tax information straight to us. We can set this up for you too, so it’s super easy. The ATO can audit your business at any time within the last 5 years so you need to have a place to store them as well as keep them in order so if you are asked, you know exactly where they are and don’t have to spend hours searching through your emails.

Make 2022 the year you save big!

If you need help with your finances in terms of tax planning, tax returns, mortgages, refinancing, or insurance, please give us a call on 08 9240 7629 and come and see us in Balcatta. We are all under one roof, which saves you time as well!