Can I Claim My Boots?
Do you work somewhere that requires you to wear protective steel cap boots? Like on a building site or in the mines? Or maybe you’re a concretor and need to wear rubber boots for work?
If yes, then you may be able to claim the cost of your boots to protect your toots (feet).
How awesome is that? If your boots are over $300 make sure you keep your receipts,
Tax Virgins: Lemon Rules
Last week we discussed the Golden Rules all first timers should follow… in this blog, we discuss the Lemon Rules… Read on!
Lemon Rule #1
Don’t get fooled into thinking that tax deductions are good. Don’t spend the money in the first place if you don’t need to.
Creating a tax deduction can suck and here’s why!
If I ha
What I need to know to claim a tax deduction
CAN I CLAIM IT?
If you can say "YES" to all of the below, then in most cases you can claim the expense as an etaxtax deduction.
• Did you spend money that was necessary for you to do your job?
• Do you have a proper receipt or evidence for what you spent?
• Did you pay for the expense yourself?
• Did y
Tax Virgins: Golden Rules
Let’s start with the Golden Rules for our first timers…
Always remember the Golden Rules
Golden Rule #1
If you have to spend money to do your job, then keep the receipt!!!
Golden Rule #2
Use diaries or logbooks to record car, study, home expenses, phone and internet usage
Golden Rule #3
If you don’t know then ask! It costs no
Tax Virgins: What Tax Records Do I Need to Keep?
We’re sure the prospect of getting some of your hard-earned money back in your pocket after our tax deductions blog must be very exciting… but you must be able to prove how you spent the money and how you worked out your claims.
If you’re claiming over $300 in expenses, you’ll need to keep written evidence for ever
I Spent $1,000 On Tools, Will I Get $1,000 Back?
The short answer is NO. This is a common question we get from clients. You will never get 100% of what you spend on tax deductions back as a tax refund. The reason is that the ATO doesn’t tax you 100% so they won’t give you 100% back.
You will only ever get a % of what you spend back in your tax refund. The % depend
Tax Virgins: What Tax Deductions Can I Claim?
In our previous blog we spoke a little bit about what a tax deduction is, in this blog we willrun over the common tax deductions people claim.
Common Tax Deductions
Pens, Paper, Post It's you name it… If you have spent money on it and use it for work, keep your receipts to claim it!
Motor Vehicle Expenses
Putting Money Into Your Super Fund
I PUT SOME MONEY INTO SUPER, CAN I CLAIM THAT?
The answer to this question is……. it depends. And the other question that goes with this is…. should I claim it?
Contributing to super is a good idea, whether you do it as a salary sacrifice contribution or a personal contribution (after tax). So, what we are talking about here is a pers
How does the GoTax Online process work?
We have done a lot of talking in our previous blogs about GoTax Online’s epic etax system, including how you can claim tax deductions specific to your occupation and how we are directly linked to the tax office to make sure there are no surprises.
But how does it all work? Let us take you through a step by step process:
Tax Virgins: What is a Tax Deduction?
If you haven’t completed a tax return before, you probably have no idea what a tax deduction is.
During the year, you may spend some money on something for work, if eligible, this is what we call a work-related expense, in the tax world, this is known as a ‘tax deduction’.
So, how does a tax deduction work?
The amount spent on