Is It Safe? – Online Tax Filing
There is still a fair amount of mistrust for the internet, especially when it pertains to sending highly personal and confidential information to other parties through its virtual belly; and online tax filing is one of those actions that to this day remains a weary venture for many.
Self done taxation is dangerous and much more difficult than it looks and should only be attempted by the small single income earner, with no investments, no offsets and no liabilities. So what about everyone else, the ones who had multiple or different jobs throughout the financial year, the ones with a mortgage, two children and a work vehicle; online tax returns are the cheapest, easiest and fastest option to consider.
Firstly, there are numerous online tax filing services available in every country, the trick is to choose one that is fully established, reputable and safety assured. If you find that there are newer companies offering the service, without previous acclamations, and are cheap, then avoid them!
You are much safer to go through channels that have already been tried and tested and proven to get your tax rebate to you hassle free and without breach. The best are those advertised and supported by the government taxation department. If an online tax filing service if affiliated with them, then they are the most trustworthy and efficient service to use, as they are often given preference by the tax department and their online tax filing system is direct.
Electronic returns are cheaper than any other form of assisted taxation lodgement available, bar the free online tax assistance programme. The difference here is that the bought tax assistor is only capable of its programmes limitations, in other words if you ask a question it has not been programmed to answer, you will be left without one.
Flat Rate Expenses - a worked example Jon works as a car mechanic and has been in the trade since April 2004. Like many mechanics, he has to provide his own tools and equipment for work. In fact, Jon has been buying tools and equipment throughout his career as a mechanic, and during this time has worked for 3 different garages. Jon can claim Flat Rate Expenses of between 100 and 120 for each year back to April 2004 - the year he started work as a mechanic. In fact, our Technical Team have calculated that Jon is eligible for 640 in FRE tax relief.
This means not writing it down where it can be stolen or copied; not sharing it with your friends or colleagues; and not using the same password for multiple sites. Even if a portion of your information is obtained from a website, the full details are virtually impossible to access from elsewhere without the correct password.
So how do I claim tax relief on my tools and equipment? To claim tax relief against your equipment and tools, check out the 'tax refund for expenses' link below. It takes just a couple of minutes to apply, and refunds of this type are usually paid out within 14 days.
Harris Smith is a writer on personal finance education. Her article tackles the pros and cons of home equity line of credit
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