The Etax Blog: Tax Tips for Australians

• Claiming Self Education Expenses as Tax Deductions

  If you are studying to advance your current career, you can get big tax breaks for the cost of your studies!  Please read on or send this post to someone you know who is studying.

  What are Self-Education Expenses?

  Self-Education Expenses include courses provided by a school, college, university or other training providers. To be eligible for a tax deduction, you must take this course to gain a formal qualification in your current profession, business or trade.

  Read more...

• Claim Your Car Expenses without a Logbook

  Have you used your car for work this year, but forgot to keep a logbook? Don’t stress!  You may still be able to claim work-related car expenses on this year’s tax return.

  How does it work?

  You can use the one third of expenses method. This method allows you to claim one-third of each expense you incur throughout the year.

  You are entitled to claim any expense you incur if it is classified as work related. I.e. used for work purposes to earn an income. You must keep written evidence for all of your expenses except fuel and oil which we can work out for you based on your odometer records.

  Read more...

• Claim Your Dental Expenses as a Tax Deduction

  “Can my dental expenses be deducted on my tax return?" 

  

  Let’s discuss how you can maximise your tax refund by legally claiming your dental treatment costs as a deductible expense. 

  The Specifics

  For tax purposes, the Australian Tax Office lumps dental expenses together with other medical expenses. Unfortunately, this means you can’t claim back your dental expenses ‘dollar for dollar’ – but there are some savings to be had.

  Read more...

• Top 3 Forgotten Tax Deductions

  Are you missing out on valuable deductions which could improve your tax refund? In this article we discuss our top 3 commonly missed tax deductions.

  1. Union and Registration Fees

  Do you pay union fees each year? If so, then you are entitled to claim them as a tax deduction on your return each year.  Simply enter the total amount you’ve paid in union fees this year under
  D5 – Other Work Related Expenses

  Read more...

• How to Claim Sun Protection as a Tax Deduction

  If you or someone you know works in the sun for sustained periods of the day, they could save big bucks by claiming their sun protection equipment!

  Occupations and industries in which the ATO considers people to work in the sun for prolonged periods include:

  • Building and construction
  • Delivery and courier services
  • Farming, agriculture and horticulture
  • Fishing
  • Forestry and logging
  • Landscaping and gardening services
     
  Read more...

• 27 Critical Tax Deductions for your Rental Property

  Did you know how many expenses you can claim if you own a rental property? Many people are unaware of the full range of deductions available to them – and they miss out on a bigger tax refund.

  To ensure you are making a correct claim on your next tax return, we’ve listed 27 items for you to check before the end of the year:

  1. Advertising for tenants
  2. Bank charges
  3. Body corporate fees
  4. Cleaning
  5. Council rates

  Read more...

• Can I Claim My Home Computer Use as a Tax Deduction?

  Do you ever find yourself taking your work home with you, answering your emails at home or working at home through an evening? If you answered yes to any of the above and you use your home computer or laptop for these duties, you may be entitled to claim your computer as a tax deduction.

  How?

  If you have purchased a computer or software and use them for work...

  Read more...

• Government Will Match Your Tax-Deductible Donations

  Kevin Rudd announced a dollar-for-dollar ‘donation matching’ program with the Government set to join Australians fighting the famine disaster in Eastern Africa

  

  With the UN estimating 750,000 people could die in the Horn of Africa in the next four months, the Federal Government is joining forces with caring Australians in a bid to save lives. The Government has promised to match every tax-deductible donation Australians give to aid efforts in the drought-stricken Horn of Africa.

  "We set no limits.  However much they raise, we're serious about it:  We'll match it dollar for dollar," he said.

  This is a key moment to make a tax-deductible donation to one of the many charities involved in famine relief...

  Read more...

• Can you claim personal grooming as a tax-deductable expense?

  Are you a performing artist, flight attendant or pilot? Do you buy makeup as a requirement for your work? If you answered yes to any of the above, you may be able to claim your personal grooming expenses and increase your tax refund.

  Here’s how it works?

  Normally the ATO does not allow tax deductions for the following personal grooming items:

  • Make-up
  • Hairdressing
  • Hair spray
  • and more...
  Read more...

• Assessing your expenses claims when travelling for work

  Travelling for work can cost you big bucks, but come tax time, those who are eligible can also make some big deduction claims! 

  What are work-related expenses for travel?

  If you incur any travel related expense that directly relates to your specific job function, you may be eligible to claim a deduction. Depending on your circumstances and provided you have the necessary documentation, you can claim the cost of transport and incidentals, and, if you were away overnight, even meals!

  Read more...

• Ironing out laundry expenses

  Do you wear a uniform to work? If it falls into any of the categories we discussed in our uniform expenses  post, you can also make a claim for the cost of laundering those uniforms.

  The way you calculate your laundry expenses will depend on your means of cleaning. We’ve created the following table which lists some of the possible means for laundering your work clothes as well as how to calculate your deduction.

  Read more...

• Generation Y could be losing thousands in tax refunds!

  

  A new Bankwest survey found that many of Australia’s tech-savvy Gen Ys could be missing out on higher tax refunds from the ATO. 

  The report found that 53% of Gen Ys submit their own return in the hope of saving themselves the Accountant fees.

  The Bankwest report says that while the younger generation feel more comfortable doing their own taxes, they might miss out on a long list of deductions available to them – deductions that an accountant would identify.

  Can I use a tax agent AND pay low fees?

  Read more...

• Can you claim your work uniform as a tax deduction?

  Do you know there are a number of ways you can save big just by claiming your work uniform? To make things easier, take a look at our list below and see if you fall into one or more of the categories. 

  Is your uniform compulsory?

  If you have a compulsory uniform that is strictly enforced at your workplace, then you can claim for the cost of purchasing it...

  Read more...

• Did you receive a letter about work expenses from the ATO?

  

  Recently 300,000 Australians received a letter from the Australian Tax Office offering help with claiming work-related expenses. Some of our clients contacted us because they were confused by the letter and wanted to know if they were going to be audited . Let’s clear up any misconceptions about this ATO letter.

  So what does this letter mean for me?

  This letter is nothing to worry about! 

  It is part of an ATO education campaign... 

  Read more...

• Six Important Changes to Your Tax Return for 2011

  Year after year, the Australian Tax Office refines and updates their rules and regulations for personal income tax in Australia. With July 1st fast approaching we’ve decided to take a look at these changes and how they will affect you in preparing your upcoming tax return. 

  Our expert accountants identified the following revised tax items that will have the greatest impact on Australians in 2011:

  Read more...