Did you know that thousands of Australians miss out on hundreds, sometimes thousands, of dollars each year simply by overlooking legitimate tax deductions? The ATO allows a wide range of claims, but many go unnoticed because people either don’t keep the right records or assume their expenses don’t qualify.
The good news is, with the right guidance, you can make sure you’re not leaving money on the table. From everyday work-related costs to professional expenses, here are six deductions you might be missing, and how they could make a real difference to your tax outcome.
1. Home Office Expenses
If you work from home, part of your electricity, internet, phone, and office equipment costs may be deductible. Just make sure you keep records to back up your claim.
2. Memberships and Subscriptions
Fees paid to professional associations or industry-related subscriptions can usually be claimed, provided they’re connected to your work.
3. Education and Training
Courses, seminars, or workshops that help you gain or improve skills in your current role are deductible. This may also include travel, textbooks, or online resources.
4. Tools and Equipment
From laptops to protective clothing and trade tools, you may be able to claim either the full cost (for smaller items) or depreciation over time.
5. Union Fees and Work-Related Insurance
Payments to unions or professional protection insurance (like income protection linked to your work) are often deductible.
6. Tax Agent Fees
The cost of preparing and lodging your tax return with a registered agent is deductible, even for the previous year’s return.
Ready to make the most of tax time? Pisani Group can help you claim with confidence.
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