Finance Worker Tax Tips -- How to Claim Deductions and Maximise Your Refund

Written by Mark Walmsley CA -- Chartered Accountant and Registered Tax Agent (TPB 25498770)

Last updated 12 May 2026

Finance workers -- accountants, financial analysts, controllers, planners, and advisers -- can claim deductions for professional memberships, software, home office costs, training, and more. GoTax is an ATO-registered online tax service that surfaces occupation-matched deductions automatically, reviews every return before lodgement, and helps finance workers maximise their refund. Fixed pricing from $0. Done online in minutes.

What Finance Workers Can Claim on Their Tax Return

Working in finance typically involves professional body memberships, ongoing CPD requirements, specialist software, and hybrid or WFH arrangements. The ATO allows deductions for costs you incur in earning your income, provided they are not reimbursed by your employer and are not private in nature.

The table below covers the main deductible categories for finance workers -- from financial analysts and controllers through to financial planners, accountants, and CFOs.

The key test for every deduction: the expense must be directly incurred in earning your income. You cannot claim costs for a career change, professional subscriptions that are general-interest rather than role-specific, or anything reimbursed by your employer. See the ATO's deductions guide for employees for the full ATO position.

Finance Workers vs Accountants and Auditors -- What's Different?

Finance workers and accountants share many of the same deductible categories, but the specific items, amounts, and professional bodies involved differ depending on your role. The comparison below highlights the key distinctions.

Five Things Finance Workers Often Miss

1. CPD subscription costs within membership fees. Some professional bodies (CPA Australia, CA ANZ) bundle CPD programme access into the annual membership fee, while others charge separately. Both the membership fee and the CPD subscription component are deductible. Keep itemised invoices rather than relying on bank statements.

2. Second monitor and home office equipment depreciation. A second monitor, ergonomic chair, standing desk, or dedicated printer purchased for WFH work is deductible -- but items over $300 must be depreciated over their effective life, not claimed in full in the year of purchase. GoTax handles the depreciation calculation automatically.

3. The actual cost method for home office -- better for high earners. Finance workers with a dedicated home office and documented actual costs (internet, electricity, desk, equipment) often get a larger deduction using the actual cost method than the fixed rate of 70 cents per hour. It requires more records, but for high earners the difference in deduction can be material.

4. Conference and seminar attendance costs. Registration fees for finance conferences, accounting seminars, and industry events are deductible where attendance is directly related to your current role. Interstate or overseas conference travel and accommodation can also be deductible -- but if private elements are added to the trip, only the work-related proportion can be claimed.

5. Financial data service and journal subscriptions. Subscriptions to Bloomberg, FactSet, Morningstar, IBIS World, or financial and accounting journals are deductible where they are directly relevant to your role. General business or finance reading that is not specific to your duties is not deductible.

What to Have Ready Before You Start

Gathering the right documents before you begin your return makes the process faster and ensures nothing is missed. Use this checklist:

Frequently Asked Questions

How much tax does a finance worker typically get back?

Finance workers are typically in higher income brackets, so deductions translate to more dollars. A financial analyst, controller, or planner with professional memberships, software subscriptions, home office costs, and training expenses could reasonably claim $2,000 to $4,500 in deductions -- translating to a refund of $600 to $1,400 or higher depending on their marginal tax rate. Finance workers who have never previously claimed home office costs or equipment depreciation often find their refund increases significantly when these are included properly. Use the free GoTax Tax Calculator for an instant personalised estimate.

Can finance workers claim professional memberships?

Yes. Annual fees for CPA Australia, CA ANZ, IPA, FPA, CFA Institute, Finsia, and similar professional bodies are deductible where the membership is directly related to your current employment. The ATO requires the membership to be relevant to your existing role -- not a future one. Keep your renewal invoice or annual statement as the supporting record. Where a membership covers both professional and personal benefits, only the work-related proportion is deductible.

Can I claim my CPA Australia or CA ANZ membership fees?

Yes. Annual membership fees for CPA Australia and Chartered Accountants Australia and New Zealand (CA ANZ) are fully deductible where your membership is directly related to your current employment. This applies whether you hold a full membership, an associate membership, or are completing the CPA Program or CA Program as part of your role. Keep your annual renewal invoice or membership statement as the supporting record. If your employer reimburses the membership fee, that amount is not deductible.

Can finance workers claim home office costs?

Yes. The ATO's fixed rate method allows you to claim 70 cents per hour worked from home, covering electricity, gas, internet, and phone running costs. You need a representative four-week diary of your WFH hours -- not a full-year log. Alternatively, the actual cost method lets you claim the work-related proportion of each actual expense (useful if you have a dedicated home office and high running costs). Equipment and furniture purchased for the home office is claimed separately via depreciation, regardless of which method you use.

Can finance workers claim laptops, monitors, and software?

Yes. A laptop, second monitor, calculator, printer, headset, or other equipment used for work is deductible. Items costing $300 or less can be claimed in full in the year of purchase. Items over $300 must be depreciated over their effective life -- GoTax calculates this automatically. Software subscriptions including MYOB, Xero, Excel add-ons, Bloomberg, FactSet, or financial modelling tools are also deductible for the work-related proportion. Keep purchase receipts and subscription invoices.

Can finance workers claim training and CPD costs?

Yes. Courses, CPD programmes, seminars, and conferences that maintain or improve skills used in your current finance role are deductible. This includes finance and accounting qualifications, compliance training, management courses, and industry events. A course that qualifies you for a new career or a substantially different role is not deductible. Conference travel and accommodation can also be claimed for the work-related portion of the trip. Keep registration receipts and enrolment invoices.

What records do finance workers need to keep?

The ATO requires records to be kept for five years from the date you lodge your return. For professional memberships, keep renewal invoices. For software and equipment, keep purchase receipts and note the date and price for items over $300. For home office, keep a representative four-week WFH diary or actual cost receipts. For phone, keep a four-week usage log. For travel, keep a logbook with dates, destinations, kilometres, and purpose. GoTax flags any areas where your records may need strengthening during the return process.

Is GoTax suitable for finance workers?

Yes. GoTax handles returns for finance workers across all levels -- from a graduate analyst with a simple PAYG return to a CFO or financial controller with investment income, salary packaging, and complex deductions. GoTax is registered with the Tax Practitioners Board (TPB Registration 25498770) and every return is reviewed by a Chartered Accountant before it goes to the ATO. Quick Tax Return $35 -- Full Individual Return $65. All prices fixed, no hidden fees.

Not sure what your refund might be? Use the free GoTax Tax Calculator for an instant estimate before you start.

Mark Walmsley CA is a Chartered Accountant and Registered Tax Agent with 40 years of Australian tax practice experience. He holds a Bachelor of Business (Accountancy) and a Graduate Diploma of Taxation, and is a member of Chartered Accountants Australia and New Zealand. Mark is the principal of GoTax and the Registered Tax Agent responsible for all GoTax-lodged returns (TPB Registration 25498770). Every tax return submitted through GoTax is finalised under his registration -- no outsourcing, no offshore processing.

Liability limited by a scheme approved under Professional Standards Legislation.