Would
you like to make some extra money? Some might be dropping into your bank
account at the beginning of December if you take a little trouble over filling
in your tax form.
1.Make
sure that your personal information and bank account details are correctly
filled out in the pre-completed tax return form. The tax
administration will obtain information on your pay and pension directly
from various sources, such as employers, pension insurance company and banks.
Check that this information is also correct.
Many
tax-payers are taken by surprise when they find out that information on rental
income must also be reported to the tax authorities even if advance tax has
been paid on it. Failing to report the income may lead to an increase in the
tax.
2.
Tax deductions are the easiest way of scraping together money for Christmas
presents. Many employees are entitled to deductions for their travel costs
between home and workplace. Fill in the information if it is missing from the
form. Costs exceeding 600 euros are deductible, with the maximum deduction
totalling 7,000 euros.
Everyone
earning wages is entitled to a deduction for work-related costs. The deduction
is granted automatically by the tax authorities.
The
whole sum exceeding the limit of 620 euros can be included in the deduction.
Deductible
costs include the use of an office at home and the purchase of professional
literature and equipment or devices used for work.
3.Remember
to apply for domestic help credit if you have had work done at home or have
ordered some care services. The company that carried out the work must be
registered for VAT. Costs exceeding 100 euros are deductible, with the maximum
deduction totalling 2,000 euros in 2013. Remember to save all the receipts and
invoices.
4. If
you have been trading shares or real estate, check the information included in
the form and complete any missing details. Reporting profits and losses is not
always straightforward and if the tax authorities do not receive all the
information they need for calculating the profit you may be hit with an extra
tax.
5.Extra
information and attachments can be reported online at Vero.fi/veroilmoitus (the
service is available in Finnish and Swedish). The report does not have to be
completed in one sitting but information can be added until the due date, which
is either 7 or 15 May for private
people.
Expert
advice was given by Päivi Kaari, a lawyer with the Finnish Taxpayers’
Association.
For more tips visit Balley Price Holdings
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