Covid and your Tax in 2024 | Gotax

COVID-19 Tax Deductions for 2024: Maximise Your Refund

While the peak of the COVID-19 pandemic may have passed, certain expenses related to the pandemic remain tax-deductible in 2024. Let's look at what components of COVID expenses can still be claimed, the occupations eligible for these claims, the situations in which the ATO deems them tax-deductible, and the extent of these deductions.

Index

1. Components of COVID Expenses That Can Be Claimed
2. Occupations Eligible for COVID-Related Expense Claims
3. Situations Deemed Tax Deductible by the ATO
4. Extent of Tax Deductions
5. Example
6. Conclusion

Components of COVID Expenses That Can Be Claimed

Personal Protective Equipment (PPE)

Expenses for items such as masks, gloves, and hand sanitizers can still be claimed if they are necessary for your job.

COVID-19 Testing Costs

If your job requires regular COVID-19 testing, the costs for these tests can be claimed as a work-related expense.

Occupations Eligible for COVID-Related Expense Claims

Healthcare Workers

Healthcare workers who purchase PPE for their job can claim these expenses. Additionally, if they were required to undergo regular COVID-19 testing, these costs are also deductible.

Situations Deemed Tax Deductible by the ATO

Work-Related PPE

The ATO allows deductions for PPE if it is essential for your job and not provided by your employer.

Work-Related COVID-19 Testing

If your employer requires you to undergo regular COVID-19 testing, the costs for these tests are deductible.

Extent of Tax Deductions

PPE and testing costs can only be claimed if they are directly related to your job.

Example

Example: Healthcare Worker

Sarah is a nurse who had to buy masks and gloves for her job. She also had to undergo regular COVID-19 testing. Sarah can claim the cost of the PPE and testing as work-related expenses.

Conclusion

While many COVID-related expenses are no longer relevant in 2024, certain components can still be claimed as tax deductions. Understanding what can be claimed, who is eligible, and the extent of these deductions can help maximize your tax return. Always consult with Gotax to ensure you are making the most of available deductions and maximising your refund.

For an easy and convenient Online Income Tax Return, use the GoTax Deduction Grabber App to keep track of your expenses and maximise tax deductions for the maximum refund.

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