Talking Cents

Our small business accountants in Melbourne explain innocent tax return mistakes that owners make

Mistakes when running a business are inevitable and even when lodging your own tax return. As small business accountants in Melbourne, we want to ensure that your business is protected from these kinds of mistakes to avoid the case of an audit.

Firstly, we want to say that you should always be aware of the form that you are using (ensure that it is the correct year). As a business accountant we see all the innocent mistakes made by business owners and here is what they are:

• Inputting the wrong TFN on your tax return
• Names that are spelt incorrectly
• Filing status errors
• Math mistakes when adding up your own tax return, human errors are futile in the accounting environment
• Errors when filing for the correct deductions
• Forms not being signed or dated correctly

It is important to always double-check your tax returns when doing them on your own and if you do struggle, our business accountant in Southbank is here to help you through the process.

As always, feel free to get in contact with our small business accountants in Sydney if you have any questions or you can check out our services here.