Add articles to your saved list and come back to them any time.Forget footy finals. My favourite weekend of the year is this one: the one before annual income tax returns are due and it’s GAME ON to minimise your tax bill.
Admittedly, I did use an accountant a few years ago and she unearthed some sneaky ways to save. So, I just pinched those ideas and do it myself now. The golden triad of rules for claiming work-related expenses is that they must: 1) have been legitimately incurred in the process of earning your income, 2) you must have incurred the cost yourself and 3) you must have a record of it, a receipt or bank statement.1. Claim the cost of union fees
About seven years ago, I bought a black leather Kate Spade bag for $490 . My tax agent advised me to depreciate that cost over 10 years, so I am still making a $49 annual “briefcase” claim each year.This year I claimed the cost of about eight books I bought and read about economics and finance, which directly related to my job. You can also claim subscriptions to journals or magazines relevant to your job.This is the biggie this year.
Jess_Irvine The governments easy work-from-home “shortcut” is a bit of trap. 80c an hour doesn’t begin to cover your actual costs, nor can you claim related costs, like depreciation for equipment. Better to keep a record and do the sums yourself, at least that’s what my accountant says
Jess_Irvine Journalists and politicians should not be allowed to leave the country, eg:Natalie Barr.
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