Jacob Fenech

speaker

958 appearances 3 recordings 1 series first heard Jun 2021 last heard Jun 2022

Jacob Fenech’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Tax time 2022: things to know (to get the best return) · 23 Jun 2022 podcast

Just pop it through.

You might have just said, oh, I'm paying too much tax anyway.

I'll just put it through.

It can be annoying then when you get your statement.

And as I said, that's going to the ATO.

It's something that one, holds up the processing of your return and two, can kind of trigger additional kind of letters and whatever else from the ATO as well, asking why is there a difference?

So the first piece is definitely, if it is, it's usually like a couple of weeks after the end of the taxi that you should get those.

Don't jump the gun and lodge in between.

Definitely the first and main point for that.

The second is,

On that statement, usually it refers to things like franking credits and things that are claimable on your behalf.

And they're the really important ones that it can reduce the tax either that you're paying or it can actually lead to a tax refund as well.

So working out who you're investing in, even if it's say there's a heap of mobile apps that people love

that round up dollars and things and slowly invest over time.

I think they're really cool as a savings vehicle and it's an easy point of entry for investing as well.

But even those type of things, they do issue statements and they do have capital gains or dividends and things that they're actually paying and sometimes reinvesting that you still need to be aware of when you're filing your return.

So a couple of things to think about, but I would say, yeah, definitely rely on whatever guidance you are from the fund that you're getting.

Match that to records, say, when you log into your MyGov account, see what you can see from the ATO's eyes, for instance.

It's basically their portal into your investing life and try and match up in between.

Definitely.

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