Engineers and science workers tax deductions, Science and Engineering is a highly technical and specialized field to work in. Whether you’re an engineer, dietitian, scientist, researcher, surveyor or zookeeper.
Science and Engineering encompasses a wide range of occupations, including the following:
Engineer (civil, aeronautical, geotechnical, IT, sound etc.), Laboratory technician, Draftsperson, Geologist, Dietitian, Nutritionist, Chemist, Pharmacist, Researcher, Scientist, Zookeeper, Surveyor.
Here is a list of the most common tax deductions that are available for you to help you get the most out of your annual tax refund.
Engineers and Science Workers Tax Deductions, Internet Use
Although it seems obvious, it’s surprising to see just how many engineering and science workers miss out on this valuable tax deduction. If you sometimes work from home or out and about, you can claim a work-related portion of your internet bill on your next tax return.
Simply keep a record of your internet use for a typical month to work out how much is work related. Then you can claim that percentage of your Internet bill on your tax return.
Mobile Phone Use
Another common tax deduction for engineers and science workers is mobile phone use.
Whether you’re making or receiving calls, or using your phone for security purposes at work, you can claim a portion of your mobile phone bill back on your tax return.
Take an average month and review your phone bill to work out what percentage of your phone use is work related. Then, you can claim that percentage of your phone bill on your tax return.
Work Related Car Tax Deductions For Engineers and Science Workers
Both science workers and engineers often find themselves on the road as part of their job. And, if they use their own car, then car use is a handy refund boosting tax deduction.
Unless you carry heavy or bulky tools, travel from home to work is not claimable. On the other hand, if you travel between work locations, to events, meetings or conferences, the cost of that travel is tax deductible.
There are two options to claim a tax deduction for your car use:
The Logbook Method – For most trade apprentices who drive a lot for work, this method puts the most money in your pocket at tax time. You need to keep a logbook for 12 continuous weeks of both your work and personal trips. Then you can claim a work-related percentage of all your car expenses for the year on your return. This includes insurance, fuel, registration and even interest on a car loan if applicable.
For engineers and science workers who only drive occasionally you can claim per kilometre up to 5,000km per year. The rate per kilometre changes every year tax year.
Clothing and Laundry Expenses
If a piece of clothing you have purchased has a business logo or branding, it can be claimed as a tax deduction. This does not apply to general items that are available to the public. Unfortunately, this means general corporate/business clothes are not tax deductible.
You can also claim the costs for laundering any tax-deductible uniform or protective item.
Protective Clothing and Equipment
Goggles, sun protection (hats, sunglasses, sunscreen), protective boots, smocks, hi-vis vests and outdoor winter jackets (where required).
Engineers and Science Workers Tax Deductions, Computer/Laptop
If you use your personal computer or laptop for work related purposes, you can claim the purchase cost on your tax return. This includes software, hardware such as keyboards, printers as well as the device itself.
However, you can claim the full cost of an item up to $300. Items over that amount can only be claimed as a depreciating cost. For more information about claiming your computer or laptop as a deduction.
Conferences, Training or Seminars
If you are completing further training, or attending work related events or conferences, these are tax deductible. Furthermore, required items to complete training like textbooks, software and stationery can be included as well.
There is also the cost of meals and accommodation if you are staying away from home. These are all tax deductible.
In addition, transport such as Uber, taxi, bus, train or hire car, along with parking and tolls can also be included.
Most importantly, make sure you keep track of your receipts as you go so you don’t leave any money on the table at tax time.
Stationery and Work Bags
If you purchase stationery, diaries, planners, pens or notebooks for work, they are tax deductible.
You can also claim back the cost of your work or laptop bag if it is used to transport work items. Keep in mind if the bag is used for personal use you should apportion the purchase cost accordingly.
Annual Union and Membership Fees
In fields like engineering, science and dietetics, there are often requirements that you join certain regulatory bodies and unions. These membership fees can be claimed back on tax as they directly benefit your current role.
Magazines and Books
If you subscribe to industry-based magazines or publications for research and reference purposes, these expenses are tax deductible. Just make sure you document how these are used for work purposes and keep your receipt.
Engineers and Science Workers Tax Deductions, Tax Agent Expenses
Whatever you spent on your tax agent last year is tax deductible on your next tax return, so don’t forget to keep a record of your tax agent fees.