AS THE coronavirus pandemic clocks up a second trip around the financial year, many people are turning to accountants to help with their finances and additional claims.
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MGR Accountants partner Anthony Cappy said the firm had seen a spike in inquiries in the lead up to June 30.
"Inquiries are hot with last-minute tax planning and businesses calculating their expected profit position and reviewing what options they have available," he said. "Individuals are working out what they can and can't claim for their home office.
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"There's three different options when doing your tax return. The short-cut 80 cent rate is all-inclusive but if you can calculate the different home portions often the fixed 52 cent rate or actual cost method could be better for you."
Mr Cappy said home office and superannuation claims were where people were looking for professional advice.
Central Victorian businesses have also seen a varied year with Mr Cappy reporting significant profits for some industries.
"I think initially people were worried about how the coronavirus would impact their business and we've definitely seen some businesses really suffer," he said.
"But on the other hand, many in the retail industry in particular have done really well. In some cases, stores are reporting their biggest financial years to date. The trades have also been very busy.
"People haven't been travelling so they've spent their money elsewhere."
While accountants have the professional advice on tax returns, Mr Cappy said he's seen a number of people, particularly young people, look to their own vices.
"Young people are more inclined to go Googling to find out how to do their tax returns themselves," he said. "There's a number of apps and websites which help people find information, but we're here to assist and ensure that what is lodged is correct.
"Every year, our biggest tip is for people to keep their receipts. Quite often you can claim things you don't even realise."
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