More cash back at tax, trades, retail workers, teachers and office workers are some of positions of employment who have a surprising high number of cash perks available at tax time.
Australians who are employed in these jobs or doing them as side-hustles are able to claim some deductions in their tax return that other workers aren’t eligible for.
The shocking thing is that a large number of Australians who work in these unusual tax return industries do not know even the gold pot they’re sitting on.
A number of these industries allow workers to claim tax on niche and industry-specific things that aren’t commonly discussed across the board.
Workers should know about the tax perks they’re eligible for, and claim them if they’re entitled to them.
The general rule for employees in Australia is that if you incur an expense as part of your job and aren’t reimbursed by your employer, you are entitled to make a claim on those work-related items.
Here is some information regarding the four jobs that generally speaking receive the most amount of money in their tax returns each year. More cash back at tax time for these kind of jobs
Constructions and manufacturing workers in particular may be entitled to a large number of tax perks if they managed to keep a record of all their expenses over the year.
When it comes to their tools, or other industry-specific equipment that are required to complete their job, they can claim an immediate deduction costing up to $300.
A not so well known tax claim that trades can claim is a deduction on interest charged on financing equipment, as well as the cost on insuring them.
Work as a trade means that you often work in an industry that’s known for overtime hours, trades who receive an overtime meal allowance might not know they can claim for overtime meal expenses.
Other key expenses to keep in mind for tax time include trade union fees, the fees associated with renewing professional licenses, registrations and subscriptions, and self-education courses that are related to their career at University or TAFE.
It has been reported that a large number of teachers often miss deducting the depreciation on tech such as computers, laptops, printers, mobile phones and tablets that cost more than $300.
Any teacher who uses any of these personal devices for work purposes are eligible for deductions.
Furthermore, teachers who will often prepare for lessons at home can also claim home office expenses like utility bills and internet costs.
Any stationary, pens, printer cartridges or art materials that they are not reimbursed by the school for are also tax deductible.
Teachers are also eligible to claim tax deduction on conferences, excursions, and educational courses relating to their career, as well as any out-of-pocket travel, meal or accommodation expenses.
Retail workers who travel from one work location to another are eligible to claim these travel costs at tax time.
It is very common for retail staff to be required to take trips between stores to deliver stock or provide a shift cover, so I would encourage them to keep a log of all of the trips they take between these venues in order to claim a deduction.
Retail employees who have to wear a uniform can also claim the costs of buying and maintaining their workwear.
While a plain shirt would not qualify, a plain white shirt embroidered with the workplace name does qualify for a tax deduction. Any protective equipment associated with the role can also be claimed under the same guise, including helmets, sunscreen and safety goggles.
If you are an office worker there is a possibility that you claim your handbag at tax time under certain conditions.
If a handbag or briefcase is required for work practices like carrying paperwork or a laptop, the cost of it can be claimed as a tax deduction for office workers.
However, it is important to keep in mind that the ATO will be less receptive to a luxury handbag with a thousand-dollar price tag than to a functional $200 piece.
Office-based workers may also be unaware that they can claim the cost of parking, tolls, and public transport on work-related journeys. However, this does not include the cost of commuting to the office.
Australians who are working from home can claim home office expenses as well.
Important Information About Tax Deductions
The most important thing for Aussie workers to keep in mind is to keep records, as it won’t matter how many work expenses you’ve racked up in the last 12 months if you haven’t got the receipts or invoices to prove it.
If you are an Australian who doesn’t work in these industries, don’t worry as there are many other industries also allow for a massive tax return.
Surgeons can claim deductions on self-education, insurances and licenses that are often a personal expense. Real estate agents claim higher travel and car expenses, as well as licenses.
Lawyers in most cases need to continue to study to remain ahead in their industry and pay for licenses that enable them to practice, all of these things would qualify for a deduction. Remember that the jobs above give more cash back at tax time.