Did you know that visiting your accountant in person is deductible? Yep, the ATO says you can claim all your travel costs for getting to your accountant. But don’t get too crazy here. If you’re planning a two-week trek to visit your accountant who’s sipping cocktails on the Sunny Coast, you might be stretching the boundaries. But, your travel, parking, and all that jazz to see your tax guy or gal? Totally legit.
If your pay slip includes an overtime meal allowance, the ATO says you can claim up to $37.65 without needing receipts. Just make sure you eat that meal during your overtime hours - no claiming for that sandwich you made at home or the sneaky pot and parma on the way home from work though.
Got a couple of bucks to spare and tossing them into the charity tin? You’re in luck—ATO says you can claim up to $10 for “bucket” donations, no receipts needed. However, your raffle ticket for the meat tray at the pub on Friday night? That doesn’t count. Keep it charitable, not “I need a win on the pokies.”
Alright, here’s the deal with student loans—if you’re working and studying in the same industry and you pay for your university fees out of your own pocket, you can claim a deduction. But here’s the catch: if you put those same university fees onto a student loan (Called HELP Debt), no deduction for you. Bummer, right?
But wait, there’s a cheeky little hack that most people don’t know about. If you rack up that student debt using “FEE-HELP” (it’s a different system than HELP, don’t get it confused), you can claim those fees as a deduction, even though they’re still on a student loan. Magic, right?
FEE-HELP is usually for postgrad studies, but there are some other cases where you can use this system too. So, if you’ve been stacking up student debt while working in your industry, it’s worth checking which system you're using. If you’ve been on FEE-HELP and haven’t claimed the deduction, don’t sweat it—you can always go back and amend the past two years. Tax time hack to the rescue!
Bought a bit of art for your office? Guess what? That’s deductible. But here's the catch: if it’s over $300, it’ll need to be depreciated over time. So, whether you’ve got a Picasso or a funky painting of a cat wearing sunglasses, don’t forget about the fine print.
Working from home? Driving your car for work? Traveling for meetings? The ATO offers set rates that you can claim without needing receipts. Sometimes these set rates are way better than the actual cost method—especially if you’re driving that 1994 Ford Laser that runs off the smell of an oily rag. You can check your eligibility to claim here (or just give us a bell).
Generally you can’t claim travel from home to work. This is considered private travel, not work related. However, if you’re lugging heavy gear around for work—whether it’s tools, tech, or whatever else—guess what? You can claim it. Even if it’s from home to work! So, if you’re hauling that tool kit or anything else bulky, that’s tax-deductible.
Alright, here’s the deal. You’ve had a massive year—maybe you’ve scored some big wins or even a cheeky capital gain—and now you’re looking for ways to save some serious tax. Well, here's a sneaky little trick: if your super balance is under $500k, you can use carry forward concessional contributions. Sounds fancy, right? But stick with me.
What that means is if you didn’t hit the concessional contribution cap in previous years, you can carry over any unused cap from the last five financial years and use it in the current year. Concessional contributions are the ones made before tax—things like your employer’s super guarantee and any personal contributions you’ve claimed as a tax deduction.
So, if you’ve had a good year and you’ve got some extra cash lying around, this is your chance to bulk up your super and save some tax while you’re at it. Just make sure your super balance is under $500k, and you’re good to go—extra contributions, big savings, and a happy future!
Paying for school fees? Here’s something you might not know: check to see if your school has a building levy, and if the school is a Deductible Gift Recipient (DGR), you can claim that levy as a tax deduction. That’s one way to make those fees feel a little less painful.
Are you the breadwinner looking to shave a bit off your tax bill and help your spouse out at the same time? If your spouse is earning under $40k, you can chuck $3k into their super fund and the ATO will throw you a $540 tax offset. This should keep you in the good books with the spouse.
The ATO has these handy “Tax Time Toolkits” that tell you what you can and can’t claim for your specific job. It’s worth a quick browse to see if there are any deductions you missed out on—because, let’s be honest, the ATO is always finding ways to keep you on your toes.
– The team at PAL (making accounting slightly less boring since way back when)
Disclaimer: This article is here to give you general info only, not professional advice specific to your unique situation. While efforts are made to ensure accuracy, the content may change over time. We can’t take responsibility for any decisions based on the contents of this article, so be sure to chat with your accountant or advisor first!
.png)
