It's only July. Why lodge your tax return so soon?
- If you
find the idea of completing your tax return stressful you may prefer to
get it done 'asap' so that you don't stress about it any longer than
you have to.
- If you are afraid you are going to be faced
with a huge tax bill, you're better off lodging your tax return early
so you can plan how to pay it.
- If you're expecting a
refund from the tax office then the sooner you lodge your return the sooner you'll receive the refund which is never a bad thing.
- July is often a quietish time of year for businesses.
As July is a quiet time of year for my business,
straight after lodging my April-June BAS I make an appointment with my accountant
to get my tax return done as quickly as I can; so that by the time
August arrives, my tax return has been almost or fully completed and
lodged and I'm freed up to focus on looking after my clients and
promoting my business.