Getting through a tax return is hard (and dull) enough without the added stress of working out everything that you’re eligible to claim for. The annoying thing is that every time you miss out on claiming something, you lose money to the ATO. Not only is that cash you’re entitled to, you might even find yourself owing the tax office as a result.
Don’t panic; we’ve got your back. In a moment, we’ll take you through 5 deduction areas that you might be eligible for, but before we do feel free to jump on POP tax, where your deduction options are clearly explained as you go.
Are you a member of a union? What about the Institute of Management, or an industry body such as the RCSA? If you’re investing in your career through a membership, then you can claim it as an expense. Oh, and don’t forget to claim for any relevant training or upskilling you’ve taken part in through these organisations too!
2. Sun Protection
Do you work outside? Then thanks to progressive workplace health and safety laws, your sunglasses are tax deductible. The even better news is that they don’t have to be ugly service station aviators; you can claim up to $300, and even higher. But anything above $300 requires a receipt. Oh, and remember to claim any protective clothing and sunscreen.
Yep, the washing machine is finally paying for itself, did you know that you can claim reasonable expenses for every load of washing you did? Of course, there’s a catch! It must be occupation specific clothing, safety apparel or a uniform that you must wear.
More specifically, overtime food. If you get paid an overtime meal allowance under your award, then you can claim reasonable expenses for that meal. In fact, you may be able to claim more than the ATO deems to be reasonable but you’ll need to produce receipts.
5. Industry Specific Deductions
Every industry is something of a taxation minefield, in that the ATO has created a set of guidelines for…pretty much everyone. This means that just because your friend who’s in a similar industry to you can’t claim for something, doesn’t mean that you’re ineligible. Just for fun, here’s a link to the list of industries and deductions from the ATO website but if you’d rather take the faster, easier, let’s face it BETTER, way out then click here to get started with POP tax.
Tax deductions don’t have to be tricky, and they’re the difference between having to pay the ATO and getting a handy little refund, that you could spend on a bottle of champagne for your good friends at POP tax. You know, if you like. Whether you choose to use our system or not, make sure you’re getting good advice from people who know your industry and are claiming for everything that the ATO says you’re entitled to.