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GET ahead of tax time this year by seeking professional taxation advice now, says chartered accountant, financial planner and self-managed superannuation fund specialist, Gail Freeman of Gail Freeman & Co.

In light of COVID-19 subsidies and government payments such as JobKeeper, tax time will be different this year, she warns.

“The tax office will also be more stringent on claims so it’s really important to make sure what you are claiming will be acceptable,” says Gail.

Gail says many of her clients want to make claims for superannuation contributions, but have not set it up correctly with their super fund, creating confusion and costs for them.

“It is a complex system so it is smart to get an expert that understands tax and does it everyday,” she says.

It’s also a good time to review any outstanding tax returns that have not been lodged from years past, reminds Gail. Gail and her team can help clients through the process and catch up on any returns they might be behind on.

“They will breathe a sigh of relief when the outstanding returns are completed, and they might be surprised by potential substantial refunds,” she says.

Gail Freeman & Co, 9/71 Leichhardt Street, Kingston. Call 6295 2844, email info@gailfreeman.com.au or visit gailfreeman.com.au