The Australian tax system can be frustrating. In fact, over half of taxpayers say its complexity bothers them. When you learn that the Income Tax Assessment Act spans over 6,000 pages across two acts, it's clear to see why. Just to put that in context, Stephen King's longest novel, The Stand, is 1153 pages long. And it's considered a monster.

As complicated as tax season can be, it doesn't have to cause a great deal of stress or worry. You can streamline your tax preparation and sail through tax season with these techniques:

Hire a Tax Professional

When you find a straightforward online tax return service, you can say goodbye to your tax filing worries. Accounting and tax professionals, whose job is to understand the Internal Revenue Code, can take the lead and manage your taxes on your behalf.

If you go for a full-service deal, you’ll just give them your details and let them complete your tax return. If you want a cheaper option, you can complete your return online, and an accountant will review it and help you maximise any refund you’re owed. 

While they work, you can sit back, relax, and wait to reap the rewards of their labour.  

Be Organised 

Whether you're filing your taxes yourself or leaving this job to the professionals, don't underestimate the value of being organised. This can mean creating a physical or digital filing system for all your payment summaries, receipts, donations, and tax-related documents.

You may also see the value in using tax-related apps and tools that can help you track your income and expenses. Once tax season arrives, you'll have everything in one place, making the filing process far less stressful.

Understand Deductions

Most people know that the more expenses they can claim, the less tax they'll be required to pay. With this in mind, it's crucial to understand all the common deductions so you know which ones you qualify for and can claim.

The type of deductions that are relevant to your situation can depend on factors such as:

• If you're a parent
• If you earn under a certain income
• If you pay for work-related education
• If you qualify for other tax offsets
• If you put money into superannuation
• If you invest in sustainable home improvements
  
  

Be Aware of Tax Law Changes

As uninteresting as tax law can be, any changes can have a significant bearing on how you file and what you can claim. There can be implications for people who aren't aware of tax law changes and make mistakes when filing.

Ignorance is not enough to avoid repercussions, so brush up on laws as tax season approaches. The ATO website should have a wealth of information. If there's anything you don't understand, you can contact your local tax agent or accountant. Most are happy to offer free advice and answers to simple questions over the phone.

Don’t Delay the Process

Given how overwhelming, stressful, and daunting tax season can be, it's only natural to want to put it off. Unfortunately, there can be repercussions for filing late. In Australia, if you have outstanding tax returns from previous years, you may face penalties and interest charges. The later your taxes are, the more severe the repercussions can be. So, always review your tax information and lodge by October 31st to avoid potential fines and penalties.

Tax preparation is most people's least favourite activity, but that doesn't mean it's something you can ignore. Fortunately, tax season can be much easier for the average person to navigate if they hire a professional, give themselves plenty of time, keep records, and understand tax law changes. Take these tips on board, and prepare for a more seamless upcoming tax season.