See if you’re among the millions of Australians who’ll probably be better off hanging onto your work receipts for tax time next year.
How TF are most workers deducting over $2,000‽
Edit: my memory from last night when I read this was slightly off. FFS I wish articles wouldn’t use “average” when they mean “mean” and when the difference between mean and median (which is also an average) is important. Especially with a construction like “the average Australian’s X”, which strongly implies median.
Anyway, still most workers deduct over $1,300. How‽
WFH a lot, a few work purchases, maybe a conference.
You guys get conferences?
And if you have buy equipment to do your job – such as a computer, phone or tools of the trade
By claiming anything even somewhat related to work. If you work from home that includes power, internet, peripherals, office furniture, software and so on. Hell my last manager was claiming his YouTube premium sub due to tech videos. Tradies do tools, car shit (if they use it for travelling between jobs), clothes, ppe and on it goes.
Like, claiming them in full? Cos that’s just tax fraud, if so.
Any of those things, if used for both work and personal purposes, need to be claimed only in proportion to how much they’re used for work compared to other reasons.
Unsure how common it is, but income protection insurance is a fairly substantial deductible.
Add that in with WFH, work related eduction, tooling, uniform laundry, vehicle costs, professional association or union fees, etc., and you can rack up $1000-$2000 pretty quickly.
