Monday, July 2, 2012

Lets Get Organised Wk25 ~ Tax Time

I completely forgot to pop back and write up this post last week Ooops!!

So yes here we are the second day in the new financial year! Who's organised???? Wow no need to groan that loudly!!! :))

This weeks missions:
~ Collect all your tax information for the 2011-12 financial year and have it ready for you accountant
~ Set up a system for keeping all your receipts etc for the 2012-13 financial year

Lets start with the last financial year. Do you know where all your receipts etc are???
I want to to find some time this week to collect everything you have so that it's ready once your group certificates come in to make doing your tax much easier. Find a folder or envelope that you can keep it in and pop it in your filing system under Tax 2011-12.
Make sure you get everything you need. Don't forget bank statements of interest earned, receipts, union fees and documentation of anything else that you regularly claim or think you might be able to claim.

Now lets work out a better system for keeping things as they come in for next Tax time.

We don't have a great deal to claim so our system is pretty simple. We use one of these mini expanding filing systems similar to the ones above that I bought for a few dollars at Big W a while back. I have a few of the pockets labelled for different receipts that I need to keep. Then I store the file in one of our filing cabinet drawers.
I actually have another one of these that I use to pay out bills will. Have sections for electricity, phone/internet, Austar and newspaper. Plenty of other pockets for other accounts that might pop up too.
I put a ziplock bag into each section then I can put the correct amount (or as close as I can) in the zippy along with the actual account and it's easy when I go to the Post Office to pay it all.
Anyways slightly off track there. You may choose to use a ringed binder with a plastic sleeve for each item you need to keep. Or maybe a pretty shoe box on a shelf to pop your receipts in with maybe a a few bull dog clips in there to separate different types of receipts.
Whatever system you choose to use, make sure it's simple and a system that you will actually use!

Would love to see your Tax Filing Systems. I'm sure there are some fabulous systems out there. Link up below or on the BDB Wall.

Take Care


  1. I just have a small filing cabinet which has files with a manilla folder in it. I have one each for:

    Accounts Paid - yes, I keep everything (I write on the front if there is a receipt for something that may need warranty then it's easy to find)

    Banks and bank accounts

    Paid Visa/Mastercard statements

    Superannuation and Life (Insurance) policies

    Tax shit (sorry but that's what the file is called)- any donation receipt or claimable items go in there.

    Medical - I keep all paid doctors accounts and spectacle receipts.

    Wills & Birth Certificates - I have copies of each family members birth certs for easy copying if needed.

    Childrens Birth & Health Record books (immunisations records)

    All of my current bills to be paid (and ongoing credit card statements - ugh!) go into a ring binder which sits in my office/computer room. I can see at a glance what is owing and due. As each bill is paid, it is then filed in 'accounts paid'. Simple!

    This system works for me - I never have paperwork floating around the house - it's either in the 'To Be Paid' file or filed away.

    Cheers - Joolz

    1. Fab system Joolz, glad you have something that works for you

  2. Thanks for this advice Becci. My system is similar to Joolz's except kept in a 3 ringed binder with plastic sleeves. The current bills are at the front, with that month's calendar which I fill in (red) when each bill is due. Once paid (usually bpay) I file in next section of the folder in it's proper named place. I keep pay slips, bank statements, insurances, school receipts and birth etc certificates in there too. This system works well for me :) Might get one of those expanding files just for hubby to keep his tax stuff in, as he is so disorganised when it comes to tax time :)