Tax tips to save you money

Bankruptcy and Tax Refunds

Some people still look lucky during taxes with a generous return. But what about a bad piece that always matters? If so, it is, as a rule, how can you minimize the amount of Tax return you have to pay and make one of these great gains from the ATO? There are a number of legal opportunities that the Australian Tax Office allows – without deviating from creative accounting – and we are here to help you find what might work for you.

Labor costs

You can apply for Tax return for expenses incurred while running your job. You need a receipt, if the total amount of your operating request more than US $ 300 but that limit does not apply to car, food, travel, and travel allowance requirements.

Costs of unification, additional food, formal training courses offered by professional associations, seminars, conferences or training seminars, books, magazines, specialized journals, tools and equipment, protective items such as sunscreen and sunglasses, computers and software, also the cost of the phone and home office.

Also, if you earn income protection, insurance premiums can be deducted. However, life insurance, injuries and serious illnesses are not subject to taxation.

Although things like magazines and CDs can be deductible, it’s important to note that you can only ask that it is directly related to your work or income. According to the Australian Tax Office, the truck driver can Tax refunds for the Australian Journal of trucker subscription, but he cannot claim a deduction for subscribing to magazines without specific instructions on professional orientation, such as the magazine Wheels.

Bank charges

Some bank charges are deducted; the key requirement is whether taxes are related to your ability to generate income or access to your income. If you pay by bank card or unexpected expenses for withdrawing their income from their accounts, they are Tax refunds as well as a monthly fee for a savings account that gives you an income.

On the other hand, if an account – it’s just a way to pay bills and other expenses, and you will not be able to get interest, taxes cannot be claimed. Likewise, if you pay one annual fee for the bank package (home loan, credit card, account transaction, etc.). It is unlikely that these taxes will be deducted.

Donations to charity

Donations of $ 2 or more for charity can be claimed as a Tax refunds if the organization has the status of a tax donor recipient (RDG), which can be visited at .au. However, no payments can be made to charitable organizations. For example, you cannot claim tickets for charity lotteries, articles such as pens and candies, or the cost of participating in the fundraising ball.

Cost of clothes

You can request the cost of buying, washing, drying and ironing of suitable clothing, including cleaning and dry cleaning costs. Examples of appropriate clothing are divided by working, protective clothing required for your work and wear for a particular profession, for example, the pants worn by the chef.

If the clothes are fit for participation, you can also Tax refunds for the cost of washing, drying and ironing; ATO believes that $ 1 for a full load of work clothes is a reasonable base to develop your laundry request. If you choose a different base to develop your needs, you may be asked to explain it. When the obligation to spend on clothing exceeds $ 150, the ATO requires written tests, such as logs and receipts in the newspaper. Visit our blog: