Australians have been encouraged to use the professional tax guides to determine exactly what to claim as a deduction at the time of taxation.
The Australian Taxation Office has published expense reporting guides for nearly 40 professions, from lawyers, IT professionals and recruitment consultants to truck drivers, pilots, firefighters and cleaners.
There is even a separate section for members of the Defense Force, gaming attendants, professional sports players, and adult workers in the industry.
Pilots, for example, can claim first aid lessons, flight simulator games, and anti-glare goggles.
During this time, traders are encouraged to claim deductions for any tools or equipment they need to purchase for the job, as well as for protective gear like sunscreen or sun hats.
Adult workers in the industry can claim deductions for consumables, such as condoms and lubricants, as well as commission payments made to an agency.
Real estate professionals should be aware that they can claim deductions for car expenses when traveling between two different jobs or work locations on the same day, as well as for marketing materials like cameras used for professional photos of properties.
And anyone who has worked from home during the pandemic should know that the ATO’s 80-cent-hour labor expense shortcut has been extended to cover all of fiscal 2020.
And if you are asking for charitable donations, beware; two in three Australians made a mistake in fiscal 2018.
“Our occupation and industry guides will help you determine what income and allowances you are reporting and what work-related expenses you can claim as a deduction,” the ATO said on its website.
“You must include all income you received during the fiscal year on your income tax return, including wages and salaries and allowances. “
The “golden rule” of tax deductions that you must follow
No matter what profession you work in, there are three rules that don’t change, the ATO warned.
You must spent the money yourself, and you were not reimbursed;
The expense must be directly related to earned income; and
You must have records, such as a receipt, to prove this.
For Australians earning less than $ 60,000 with fairly straightforward tax matters, the ATO offers a free service that helps them complete their tax return.
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