Tax time tips

[Ahern2Boof]

With tax time just around the corner, I have been asking a few workmates / friends who work in the accounting industry on what I can and can't claim, as the past few years I haven't really explored it in-depth and just taken what I've got back.

Has anyone here got any useful tips on what you could claim?

For me, I work at a TV station where we don't have a uniform, but given I am working alongside some famous TV personalities, I like to wear nice clothes to work as opposed to a pair of trackies and hoody, as to make a nice impression.

If I go out and buy some nice $60 pants and an $80 jacket, is this claimable?

Apologies if a thread like this exists already, and double apologies as I am quite naive when it comes to anything related to tax.

 

[edgie]

Have them embroidered and you can

Sent from mTalk

 

[Long Live HFC]

no, you generally can't claim for a uniform if it's not actually a uniform (as the above poster notes). but you can claim up to $300 (without receipts) for laundering the pretend uniform.

get an accountant. even if for only one year, to determine whether their fee is worth it or not based on your current situation. they can provide definitive answers to all your questions, and then you have at least 1 deductible for the following year

 

[IKnowtheDog]

watching post match interviews and it appears there's nothing wrong in rocking the 'SAVERS' specials!!

Walk into any TAB and the customers there will be more properly attired than those at a post match press conference.

Therefore my advice is to buy the same clothes your contemporaries wear. Except Mark Stevens he's clothed by Channel 7

 

[edgie]

I claim part of my mobile (pre paid). Say I need to send a lot of picture messages than burn credit.

High interest earning bank accounts are a serious hindrance to a good return.

Sent from mTalk

 

[Long Live HFC]

High interest earning bank accounts are a serious hindrance to a good return.

i got a nasty letter from the ATO a couple years back re a savings account i forgot to include. no penalty, but it's funny how quickly they were onto a ~$100 error compared to, say, a $130B fraud haha.

 

[SwampCreature]

If you rob a servo, you don't have to pay tax on whatever you take.

 

[IKnowtheDog]

If you rob a servo, you don't have to pay tax on whatever you take.

I belive that is incorrect. Proceeds of crime are assessable income

 

[edgie]

i got a nasty letter from the ATO a couple years back re a savings account i forgot to include. no penalty, but it's funny how quickly they were onto a ~$100 error compared to, say, a $130B fraud haha.

I had to pay back $700

Sent from mTalk

 

[SwampCreature]

I belive that is incorrect. Proceeds of crime are assessable income

Who in their right mind is reporting their crime income

 

[the_interloper]

Who in their right mind is reporting their crime income

Well what happens if you get pinged for robbing a bank and they find out you didn't declare it? You'd be even more ****ed!

 

[Allikat]

You'll do less time for robbery than tax fraud

 

[chargers 09]

Received an email from my accountant advising that I'm getting audited.


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[IKnowtheDog]

Well what happens if you get pinged for robbing a bank and they find out you didn't declare it? You'd be even more ******!

They'll send you to one of those 'pound you in the ass' prisons too with no conjugal visits

 

[SwampCreature]

They'll send you to one of those 'pound you in the ass' prisons too with no conjugal visits

Sif he wouldn't have have spent the conjugals doing that anyway

 

[Gough]

Received an email from my accountant advising that I'm getting audited.


Sent from my iPhone using Tapatalk

My oldest mate is a lawyer with ATO, PM me.

 

[IKnowtheDog]

Sif he wouldn't have have spent the conjugals doing that anyway

I think it's a bit early to jump to conclusions

 

[Howard Littlejohn]

Who in their right mind is reporting their crime income

Al Capone should have done.

 

[SwampCreature]

Al should never have robbed the servo in the first place

What gave him that stupid idea

 

[Meow]

Clothing is only tax deductible if it's an actual company uniform, not generic items purchased from stores. That means logos etc. should be embroidered on them.

If you regularly use your own car for business purposes (e.g. travelling to/from meetings), I'd definitely be keeping fuel and maintenance receipts handy. Can claim back up to 66c for every km travelled.

 

[IKnowtheDog]

Al should never have robbed the servo in the first place

What gave him that stupid idea

He could have at least left something in his vault for Geraldo

 

[SwampCreature]

He wouldn't last 10 seconds in Geraldo's vault

 

[DroopStDanny]

A good pair of steel cap boots are a nice tax deductable even if they aren't required for your job.

 

[Brad Goodman]

You can claim a handbag if it's big enough for a work laptop.

 

[Soren Lorenson]

Some good advice above, for more specific information about what you can or can't claim here is the ATO page in regards to clothing claims.

https://www.ato.gov.au/individuals/.../clothing,-laundry-and-dry-cleaning-expenses/