Completing tax returns is always one of “those” jobs. Yes, you know what we mean. But, finding out what you can claim for may make the job more bearable, and make-up, Netflix, handbags, guard dogs, and garden gnomes are on the list. No, this is not a joke.
Netflix and Stan
If your subscriptions are relevant to your profession or trade you can claim a tax deduction. Think magazines, newspapers, journals, and TV subscriptions.
Sunscreen
The ATO are obviously big supporters of slip, slap, slop (thankfully!). If you work outside then you can claim a tax deduction for sunscreen.
Make-up
If you work outside in your role and your make-up has sun protection, you can claim it. The sun protection is the key component in this information.
Dogs
Now, unfortunately you can’t all start trying to claim for Fluffy, the family Cavoodle. But, if you have a job where you legitimately need a dog i.e. security and farming, you can claim food and vet bills. As the dog is viewed as a capital asset, you can write it off for the life of your four-legged friend.
Caravans
Do people joke that you take everything but the kitchen sink? Well, they’ll be able to eat their words now. If you have to travel a lot for work and are sick of staying in hotel rooms, you’ll literally be able to take the kitchen sink with you. You would have to allocate the cost between business and personal use but it is a valid tax deduction.
Garden Gnomes
Now, we’re not suggesting that you set up a Gnome theatre on your front lawn but, if you’re a property investor and your tenants need a little Gnome in their lives, then you can claim a tax deduction. In fact, this is just one deduction that landlords can claim; fish tanks, heated towel rails, and clocks are on the list too.
Bricks
Well, if you live in a house, you’re surrounded by bricks. If you own an investment property you can claim a 2.5 per cent annual tax deduction on the cost of the building. That’s a pretty sizeable chunk of a tax deduction – on a $600,000 that’s a $15,000 deduction each year.
Protecting your income
If you pay any sort of income protection insurance, you can claim the premiums. The only time other insurances can be claimed is if the insured asset is used to produce an income i.e. for a rental property you could claim home insurance or a work vehicle you could claim car insurance.
Art
If you fancy yourself as a bit of an art connoisseur and you like to collect canvasses to create an ambience in your office, you may be able to claim some back. This only stands if you’re using it to decorate a reception area, boardroom, or staff social rooms etc. It wouldn’t stand if you just decided to brighten up your hallway.
Handbags
Now before you get all excited and rush out to buy the latest Hermes Kelly Bag, there are a few things to consider. The bag need to be suitable for work purposes and used for work purposes. It definitely needs to be able to carry an iPad, laptop, or anything else used for work. If that doesn’t give you a valuable excuse for a new handbag, we don’t know what will!
Laundry
Unfortunately, this doesn’t cover hiring someone to come in and take over your washing chores (very disappointing we know). It does cover any costs for cleaning a work uniform, including dry cleaning.
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