Tax time: A financial planner shares his top tips

The new financial year is upon us!

It’s July 1, so 3AW Breakfast asked a financial expert for his top tips to maximise our tax returns, and how to get ahead so you don’t have end-of-financial-year regret next year.

Press PLAY below to hear a financial planner’s top tax-time tips

The ATO is warning Australians against lodging their return too early, saying lodging on the first day of the new financial year can slow down your refund while the ATO waits for your employer to provide all the documentation they’re required to.

But senior financial planner at Rising Tide Financial Services, Matt Hale, says that sounds like “a tactical measurement by the ATO”.

“Their turnaround times aren’t brilliant,” he told Stephen Quartermain and Elise Elliott, filling in for Ross and Russel.