At STS Accounting Group we highly recommend the myDeductions app for individuals and sole traders.
It’s easy to use and allows you to keep reliable records throughout the year, fuss-free!
Why not set yourself up for a simple year ahead by downloading the app today.
Record keeping with myDeductions
As an individual or employee, you can:
- use the app to keep records of your
- work-related expenses (such as vehicle trips you make)
- general expenses (such as the cost of managing your tax affairs or gifts and donations you make)
- upload these records at tax time to make lodging your tax return easier.
As a sole trader, you can:
- use the myDeductions tool to keep records of your
- business income
- business expenses
- upload yourrecords at tax time to make lodging your tax return easier
- share your data by emailing it to us at STS Accounting Group – firstname.lastname@example.org
- can record your business income and expenses
- can share your records on myDeductions by emailing it to your registered tax agent but you
- shouldn’tupload your records to prefill your tax return.
Using myDeductions at tax time
Whether you lodge your own tax return or use a tax agent, myDeductions can help you organise and keep your tax records.
When you are ready to prepare your tax return you can simply email us at STS Accounting Group – email@example.com and will have all your records ready to prepare your Tax Return.
If you download the ATO app and use the myDeductions tool:
- Make sure you record your information on a single device throughout the year because you can only upload once per financial year.
- Multiple people can’t use one device.
- Don’t forget to back up your data regularly in case your device is broken, lost or stolen.
Get in touch with our expert team of accountants to discuss the myDeductions App or planning for your Tax Return today.