The tax return in Australia is already here and if you are getting stressed about how to do it, whether use an agent or do it yourself, here in CF we’ll give you the top tips to those items that would ever have imagined that you could claim tax on.
According to Max Chapman, director of Tax Communication, H&R Block, You can claim tax on:
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1. Professional memberships and subscriptions
Are you a member of a profession or trade association as part of your work? You can claim tax return in Australia for the amount you pay in subscriptions.
Tip: If you prepay your subscription for next year before 30 June, you can claim a tax deduction in Australia this year!
2. Rental property expenses
If you have a rental property and you’ve paid out for any of these costs this year, make sure you claim your deduction. Examples of these could be gardening and lawn mowing Bank Fees, Pest Control Security…
3. Your Handbag
Claim your work handbag if you need to carry your Laptop, iPad’s, etc. but don’t get too excited, because if you’re thinking to go and buy the latest Chanel bag, you’ll probably be struggling to claim that but if you’re going for something genuinely used for work purposes, it should be claimable.
4. Income Protection Insurance
If you pay for insurance premiums against loss of income, those amounts are tax deductible. Just be careful because it dissents from covering everything as life insurance or critical care and trauma insurance. Those looking at making a trauma insurance claim may wish to look at Curo’s trauma insurance claims process, as they make it easy, dealing with the claim on your behalf in an efficient manner, so that you can focus on your health.
5. Mobile phone expenses
If you use your personal mobile phone for work – either to make or receive calls. You can claim the cost of these calls as a deduction. You’ll be only able to claim business related calls so they recommend keeping a diary for at least four weeks in order to work out the business use proportion.
6. Social Functions
We all know that ATO won’t be happy to pay your nights out but the exception starts when the function you’re attending is part of work propose. Example: you’re a journalist attending a function that it will later report on through their media outlet; in that case, claim tax deduction.
7. GYM
If your work requires a high level of fitness, you might be able to claim tax for your personal health and fitness.
8. Cost of a work-related car parking for the disabled
Generally, if you park your car, you’ll pay your car even if this is during working hours, but if you are entitled to park in a disable person’s parking spot and have a disabled parking permit displayed in your car, so another tips for tax return is that you can claim a deduction for your parking costs.
9. Cost of an overseas conference, even if you start on afterwards for a break
If you need to travel overseas for a conference and that is related to your current job, the cost associated with attending the conference should be deductible, including (airfares, hotels and meals).
10. An apartment in another city
If you are required to work away from home by your employer, your assignment in the other place is only temporary (so you haven’t actually relocated) and you are renting or buying an apartment in the other work location, you can claim a deduction for the work-related cost related to the apartment, including either rent or interest on the mortgage, depending on whether you rent or buy.
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