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TAX TIPS – TEACHER’S TAX DEDUCTIONS

At Infinity Accounting & Financial Services, we pride ourselves in being experts when it comes to accounting practices for teachers. We have compiled a list of specific deductions, that as teacher you may be eligible to claim:

Car Expenses:

When can you claim? .

  • Travelling between separate work places.
  • Travelling to an alternate workplace.
  • Work-related parking fees, tolls.

You can’t claim if:

  • You’re travelling between your home and workplace.
  • If you do minor work-related tasks on the way to or on your way home from work.

How can you claim?

  • You can claim $0.63, $0.74 or $0.75 (depending on the size of your engine) per KM on the first 5000 work-related KMs per financial year (You may like to keep a diary of work-related travel).
  • You can keep a log book for 3 months to determine what percentage of work-related car usage you incur, which then allows you to claim that percentage of your car expenses as a deduction.
Home Office Expenses:

What can you claim?

  • Depreciation of home office equipment (computers etc).
  • Work-related phone calls from home or mobile and internet
  • Cost of energy (electricity and gas) that is incurred as a result of working from home.
  • Cost of repair for any home office furniture and fittings.

You can’t claim:

  • You can figure out a percentage of use for work purposes using you diary records and claim that percentage off your bills (electricity, gas, phone & internet) and depreciation on assets.
  • You might prefer working out how many hours you used your home office throughout the year using your diary records and claim $0.34 for each hour.
Clothing Expenses:

What can you claim?

  • Compulsory uniforms.
  • Non-compulsory uniforms can be claimed if that piece of clothing can be identified as a piece of clothing distinctive to your workplace (has the school logo).
  • Protective clothing.
  • aundry and dry-cleaning

You can’t claim:

  • Any type of clothing that can be deemed as general clothing (i.e. suits, dresses etc).

What do you need to do?

  • Keep receipts of all purchases, laundry and dry-cleaning expenses, hire expenses and repairing expenses.
Other Expenses You Can Claim As A Deduction:
  • Expenses incurred on excursions, school trips and camps.
  • Cost of First Aid Training, If you’re the designated First Aid person.
  • Cost of attending work-related seminars, conferences and training courses.
  • Cost of sunglasses, sunhats and sunscreen if you’re a school sports teacher or coach.
  • Cost of teaching aids.
  • Cost of subscription to technical or professional journals, periodical and magazines that relate to teaching.
  • Union and professional association fees.

Please call us today on 9792 2772 for further assistance and to ensure that you are claiming the maximum refund you are entitled to.

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Infinity Group

Established in 1999, Infinity Group is a multi-service firm that specialise in the areas of Finance, Property, Accounting & Taxation, Insurance and Migration Services.

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