Medicare v Medicare Surcharge | GotaxFind out about the difference between Medicare and the Medicare Surcharge for 2024 First up is the Medicare Levy Medicare Levy is designed to raise the required funds to help support the funding of the Hospital System. It does that through the Taxation system and each pay period you are happily donating 2% of your gross wages. This ensures that the pop
Claim your lunch | 2024 GotaxLunch Time Meals: A Non-Deductible Expense With the very odd exception the answer is NO, you can't claim your meals as a tax deduction. Read on for more... Why Can’t We Claim Lunch Time Meals on our Tax? According to the TaxOffice (ATO), the cost of food and drink is considered a private expense and is generally not deductible. The argument general
Removal Costs | 2023 GotaxAre Removal and Relocation Costs Tax Deductible? Your employer sends you out to the never never to take up a new role with the company. Makes sense that it's a deductible cost right?, after all I'm doing it for my employer......but..... You can't claim a deduction for removal or relocation costs. This is the case even if relocating is a condition of your employme
Why You Need Income Protection Insurance (And How It Can Save You Money On Tax) If you're like most Australians, you work hard to earn your income and support your lifestyle. But what if something happens to you and you can't work for a while? How would you pay your bills, your mortgage, your kids' school fees? That's where income protection insurance comes in handy. Income protection insura
Coffee claim | 2023 Gotax Coffee Expenses and Tax Deductions in Australia In the Australian Taxation System, the tax deductions available for coffee expenses are quite specific. Coffee Expenses at Work Generally, the cost of buying coffee can’t be claimed as a deduction as the expense doesn’t directly relate to earning your income. However, there are exceptions. For insta
Can I claim Netflix | 2023 Gotax Understanding Tax Deductions for Netflix in Australia In the context of the Australian Taxation System, it’s important to understand what expenses can be claimed as tax deductions. Unfortunately, the cost of pay television or streaming services such as Netflix is considered a private expense. Therefore, you cannot claim Netflix as a tax deduction.
Beauty Therapist Tax | 2023 Gotax What Tax Deductions Can I Claim as a Beauty Therapist? As a beauty therapist, understanding the various tax deductions available to you can significantly impact your tax return. We will help you identify and maximise your eligible deductions, ensuring you get the maximum refund possible. Below, you will find a comprehensive list of deductions and detailed
Lipstick and Tax | 2023 Gotax Can I Claim Lipstick and Cosmetics on My Tax? Navigating tax deductions can be tricky, especially when it comes to items like lipstick and cosmetics. This guide will help clarify whether these expenses can be claimed on your income tax return, focusing on key factors that determine eligibility. Introduction General Rule on Cosmetics and Grooming Ex
Can I Claim My Nail Polish as a Tax Deduction? With most jobs, we all want to be well presented. We get the hair cut, buy some nice clothes and shoes, put on the war paint and do our best to look great. All those things we buy just so we can look the part within the organisation. Introduction General Rule on Grooming Expenses Exceptions for Specific Occupations Examples of Deduc
Covid and your Tax in 2024 | GotaxCOVID-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