It is almost that time of the year again. Australian tax return time. And, so many people are always wondering how much money they will actually get back. Calculating your tax refunds isn’t as hard and complicated as so many people may think. Here are two different ways that you can calculate exactly and accurately how much you will get back in 2015.
E-Lodge Australian Tax Calculator
The first method that you can use to calculate your tax refunds, is with the E-Lodge Australian tax calculator. The amount of time that you will need to complete this is about 2 to 5 minutes.
This option is easier and more accurate than any other method and can be used by anyone. This method will give you a great estimate on how much you are going to get back, or how much you must pay in. All that you need to do is to enter in a few details and the calculator will do the rest. The things that you should have at hand are:
- Your gross taxable income,
- All your deductions,
- Tax withheld,
After entering this information and your personal information you will have to answer a few other questions. You should be as honest as possible to get the most accurate estimate. Then, the calculator will do the rest and give you your estimate of your refunds or the amount that you should pay in. More info here!
Prepare your tax returns
The second best option to get the exact amount that you might get with tax refunds or the amount of money that you should pay in, is to actually prepare and file your tax returns. The time you need to prepare your tax returns online will only be between 10 and 45 minutes.
The faster you start doing your tax returns the sooner the whole process will be over. We all know that doing our tax returns isn’t one of our most favorite things in the world, but the only way to get an exact estimate is by filing your tax returns. There are three methods for filing your tax forms.
The first one is to go to the ATO and do it personally. You can also go online and do your tax in the comfort of your home. The online method is easy to understand and will assist you if you are having some difficulties. The third option is to go to a tax company like www.taxreturnco.com.au and let them do everything. Then you will know that your tax forms are correct and that you won’t get any come-backs.
People want to know how much they are going to get back from tax refunds or even wants to know if they are going to pay something in. There’s a couple of methods that you can do, but not all of them are accurate and precise. Using the E-Lodge calculator will give you an estimate, but actually filing your taxes and getting the exact amount is the best way to go. Then, you know for sure that your tax returns are complete and you can breathe again.