The Lawson Lowdown

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Weekly Tax Tips

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Week 1

Did you know that if you are required to use your personal mobile phone for work (making and taking calls) that you can claim a percentage of your bill on your Income Tax Return? 


Week 2

Did you know that you can claim the cost of attendance fees, travel to/from work-related seminars, conferences, conventions and education workshops when they sufficiently connect to your work activities? 


Week 3

Did you know that the cost of your Income Protection Insurance is completely Tax deductible when the policy is held in your name (Not your Superannuation funds) due to its direct link to you earning income?


Week 4

Did you know that the ATO have launched a new Scams Alert Page as part of 'Stay Smart Online' week? If you recieve a suspicious email, SMS or phone call, visit ato.gov.au/scamalerts for info on the latest ATO impersonations and tax related scams.


Week 5

Did you know that the ATO has an app to help you keep track of your work-related expenses? Individuals can utilise this app to ensure all deductions are recorded and automatically sent to your tax agent or accountant. 

Week 6

Did you know that you can claim the cost of any donations or sponsorships made throughout the year for example MS read-athon and Movember? This includes flood and disaster relief: Note: October is Breast Cancer Awareness Month, donations can be made ar nbcf.org.au

Week 7

Remember these three rules when claiming all work-related expenses on your tax return! 

1. You must have spent the money (and have not been reimbursed) 

2. The expense must be directly related to earning your income (i.e A builder can claim tools, a retail employee cannot) 

3. You must have a record to prove it (A reciept or proof of transaction) 

Check out deductions you can claim at ato.gov.au/deductions

Week 8

Did you know that if you are required to work from home, perform CPD or study for work form home you can claim an hourly rate to cover you for home office expenses?  

Week 9

Did you know that it is better to get your employer to pay for as many work-related expenses as possible rather than claiming them yourself? Based on marginal tax rates, you only get back a percentage of any expenses incurred, not 100% of the expense.

Week 10

Watch this space! New tip coming soon

Week 11

Watch this space! New tip coming soon

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