What if I don’t have receipts for my Tax Deductions?

If you don’t have receipts it is always advisable to talk to an accountant. Sometimes there are thresholds of money you can claim without having to show receipts. It is important not to be dishonest when doing your tax return. The Australian Taxation office does numerous audits every year on random and suspicious tax returns. You could risk big fines if you are found out to be falsely claiming tax deductions.