Tax time is looming, so do yourself a favour this year and claim as many expenses as possible. Here are the different things you can claim on your tax return to help you get the best results and the biggest refund on your tax return ever.

What you wear:

Work-related handbags

This is an exciting change to claimable expenses in Australia, allowing you to claim a handbag as long as it is truly used for work purposes. If you bought a handbag because it’s the perfect size to carry documents between home and the office, perfect! If you bought the newest Chanel cocktail clutch that can barely fit your wallet and your phone, you won’t be able to claim this against your tax.

Sun and weather protection

If you work outside, the tax department is looking out for your health and wants you to be sun smart. Sunscreen, including makeup with SPF, as well as light layers for UV protection can be claimed as long as most of your job is conducted outside.

Similarly, if you work outside, you can claim wet weather gear you wear at work. You’ll need to have a full-time outdoor job though to claim hats, gloves and waterproof clothing. If you’re thinking your weekly outdoor meetings on the green space near your office may count, they don’t. This rule only applies to those with jobs such as construction workers, lifeguards, trades men, farmers and fishermen.

Work uniform laundry costs

If your work specifies you need to wear a uniform to work, you can claim some of the costs associated with laundering the uniform. You can claim $1 per load of washing, but you’ll need to keep receipts.

What you learn:

Education related to work

If your workplace wants you to up-skill, you can claim this on your tax return. The course needs to be related exactly to your work and not associated with a HECS or HELP debt, otherwise it can’t be claimed. If you’re looking to pen your first memoir and enrol in a writing class, this can’t be claimed if you’re an investment banker.

Seminars on investments you hold

If you actively participate in seminars and meetings related to the stocks you hold, you can claim expenses related to these activities. General stock market seminars can’t be claimed though, they must be related to shares you hold.

Where you live

Claiming power

If you work from home, even some of the time, you can claim up to 45c per hour of your time spent working from home. This is great news for those who work from home, even if it’s only one day per week. The ATO is strict on this though, you’ll need to make notes of how often you work from home so it is clear it’s not on an ad hoc basis, otherwise you can’t claim these expenses.

Renovating your investment property

If you rent out an investment property, you may be able to claim maintenance costs as long as they prevent deterioration or fix existing deterioration. This can be simple things like claiming the cost of paint cans if you re-paint your property. If your property becomes damaged, you can also claim repair costs which is handy as materials can be pricey. You may also be able to claim body corporate fees and council rates on your tax return.

Get more tax back than ever by claiming these expenses on your tax return this year.

Article provided by Liston Newton Advisory