Tax Myths
Busting Tax Myths: What You Need to Know Before Lodging Your Return
Watch Out! These Tax Myths Could Cost You
When it comes to doing your income tax return, believing "BBQ talk" can lead you straight into trouble.
The Australian Taxation Office (ATO) has warned that thousands of taxpayers fall for common tax myths — leading to audits, delays, and even fines.
Last year, over 500,000 tax returns were amended due to simple (but costly) mistakes.
Top 3 Tax Myths You Must Avoid
Myth 1 — “I Can Claim $300 Without Receipts
❌ Wrong!
The $300 rule simply means you don't need physical receipts for claims under $300 —
BUT you still need:
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To have actually spent the money
-
To explain how you calculated the claim
✅ No receipts doesn't mean free money!
Myth 2 — “I Can Claim Home to Work Travel”
❌ Usually not true!
Trips from home to work are considered private expenses — even if you’re working from home.
✅ The exceptions:
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Transporting bulky tools or equipment (when your employer can't store them onsite)
-
Travel for essential meetings, supply pickups, or deliveries from your "Covid workplace"
I Can Use the HomeOffice Shortcut Rate AND Claim Office Items
❌ Nope — that's double-dipping, and the ATO hates it.
Choose:
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The Shortcut Rate
OR -
The Actual Expenses Method for home office claims
✅ But not both!
Pro Tip — Update Your Bank Details!
Nothing slows your refund down faster than old bank details.
✅ Before you lodge, double-check your account info to avoid your money disappearing into never-never land.
Ready to Get Your Refund — Without the Myths?
GoTax makes it super simple:
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✅ Easy-to-use online tax return system
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✅ Smart prompts that guide you past common mistakes
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✅ Real registered tax agents ready to help
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✅ Faster refunds with correct claims from the start!
Want More Tax-Saving Tips?
Check these out:
-
Work from Home Tax Deductions
✅ More tips = bigger refunds!
Check out ....
