Take a look around you. We can guarantee there will be something around you right now that you may be able to claim as a tax deduction, and Gotax is here to help you identify this.
Knowing what to claim and what not to claim on your tax return can make things seem difficult, but it doesn’t have to be that way.
Our simple online system shows you the common tax deductions you can claim for your occupation and just below, we list the top 5 tax deductions our clients claim.
Take a look, there may be something there you didn’t think you could claim on your tax return, and remember, tax deductions will aid in boosting your tax refund.
1. Work related car expenses
If you’re required to use your car for work, then you may be able to claim a tax deduction for the use.
To claim a tax deduction you must be travelling from your workplace to another workplace. i.e. running errands, attending business meetings or training etc. Home to work travel is not tax deductible unless you are carrying heavy or bulky tools.
There are two ways you can claim your motor vehicle use:
1. Keep a diary and track the kilometres claimed, you can claim up to 5,000 kilometres
2. Keep a 12-week consecutive logbook to claim the work portion of your car expenses. That’s any expense relating to your car between the front number plate and the back-number plate. i.e. your repairs, fuel, car cleaning, registration, insurance etc.
2. Mobile Phone
If you use your personal mobile phone for work you may be able to claim it, if you are calling customers and clients, using your personal phone to conduct business you may be eligible to claim a portion of your phone bill. You can claim this by keeping a copy of you itemised phone bill highlight work and personal use, or you can keep a log book to determine how much of the phone you use for work and how much is personal use.
Are you working from home and are using your internet? You may be eligible to claim that as a deduction. It is very similar to claiming you phone you need to keep a logbook to show the usage of internet so you can claim correctly.
4. Home Office
If you are working from home you may be able to claim home office expenses such as: computer costs, office furniture and stationery. By keeping a monthly record of the hours you have worked and the receipts from all purchases relating to the home office you should be able to claim these deductions.
5. Tax Agents Fees
Yes, you can claim your tax agent fees as a deduction.
Don’t forget to enter in all these deductions when preparing your etax return because after all you deserve it.
Claiming car expenses
Can I claim my phone?
Claiming Home Office