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Tax FAQs

Learn how Gather's Tax features could help minimise your tax admin and maximise your return

Parth Gulati avatar
Written by Parth Gulati
Updated over a month ago

Skip the scramble of combing through bank statements at tax time. With Gather, you can focus on maximising your tax return with confidence instead.

Here's how it works:

  1. πŸͺ„ Wizard: Open the Tax Wizard by tapping "Get Started" in the Tax tab.

  2. βœ… Select the expense areas that are tax relevant for you.

  3. 🧐 Suggestions: We provide hypothetical suggestions based on your selections. They require your review and confirmation.

  4. πŸŽ›οΈ You're In Control: This is a self-directed tool. It's your responsibility to review and confirm suggestions for completeness and compliance with your individual tax situation.

  5. βž• Confirm: Tap to confirm transactions that you want to mark as deductions. Tap and hold to dismiss any that are irrelevant.

  6. πŸ” Search: The Wizard doesn't cover all ATO deduction areas. You can manually search and mark any specific or missing transactions as deductions.

  7. πŸ” Autopilot: Gather continuously looks for new suggestions based on your selections in the background. It'll let you know when it finds new suggestions. This way, you can mark deductions as they happen, rather spending hours combing through bank statements at tax time each year.

  8. πŸ“ Attach Files: For record-keeping, you can attach files and photos to a transaction (e.g. a receipt). You can also add any other tax-related files that don't relate to a specific deduction (e.g. an export of your share trading activity).

  9. πŸ“₯ Export At Tax Time: You can export your deductions at any time. Use the exported list as a reference to self lodge, or forward it to your accountant.

How's this different from the ATO app?

Gather saves you time. It helps you track deductions across all your bank accounts along with storing tax-related files in one place.

The ATO app is entirely manual so it takes more time and effort. But it does cater for certain car related expense calculations that Gather doesn't.

Gather

ATO App

Deduction Wizard

βœ…

❌

Bank Sync

βœ…

❌

Search Across Banks

βœ…

❌

Store Files (e.g. Trading History)

βœ…

❌

Export

βœ…

βœ…

Complex Car Expenses

❌

βœ…

Attach Receipts

All File Formats

Images Only


Things you should know

  • General content only: Content we present is purely educational and general in nature. It doesn't take into account your personal circumstances.

  • Check before claiming: This is a self-directed tool to help you organise your tax affairs. You are solely responsible for the accuracy of any deductions claimed based on suggestions provided.

  • No advice: We don't provide personal, tax, or legal advice.

  • Use at your discretion: We disclaim all liability for actions taken based on the content provided. Use this tool at your own discretion and risk.

  • Talk to a professional before acting: Gather is not a substitute for professional tax, financial, or legal advice. You should consult a licensed advisor before making decisions based on information provided by this tool.

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