Max your tax return

There’s a lot to love about tax time. Around seven out of 10 Australians receive a refund each year – that’s about 10 million people pocketing valuable extra cash. But you don’t have to settle for the minimum refund. With the end of the financial year fast approaching, there’s still time to clock up additional tax deductions – and you don’t always need to spend more to get more back.

Here are five steps to take before 30 June to ensure a generous refund …

1 Get a handbag ( yes, really!)

Life is short. Buy the handbag! You may