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How much a new $1,000 tax offset would really be worth – and who’s better off avoiding it (theconversation.com)

submitted 2 months ago by Zagorath@quokk.au to c/ausfinance@aussie.zone

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See if you’re among the millions of Australians who’ll probably be better off hanging onto your work receipts for tax time next year.

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[–] Zagorath@quokk.au 1 points 2 months ago* (last edited 2 months ago) (4 children)

How TF are most workers deducting over $2,000‽

Edit: my memory from last night when I read this was slightly off. FFS I wish articles wouldn't use "average" when they mean "mean" and when the difference between mean and median (which is also an average) is important. Especially with a construction like "the average Australian’s X", which strongly implies median.

Anyway, still most workers deduct over $1,300. How‽

[–] CTDummy@aussie.zone 2 points 2 months ago (1 children)

And if you have buy equipment to do your job – such as a computer, phone or tools of the trade

By claiming anything even somewhat related to work. If you work from home that includes power, internet, peripherals, office furniture, software and so on. Hell my last manager was claiming his YouTube premium sub due to tech videos. Tradies do tools, car shit (if they use it for travelling between jobs), clothes, ppe and on it goes.

[–] Zagorath@quokk.au 1 points 2 months ago (1 children)

Like, claiming them in full? Cos that's just tax fraud, if so.

Any of those things, if used for both work and personal purposes, need to be claimed only in proportion to how much they're used for work compared to other reasons.

[–] CTDummy@aussie.zone 1 points 2 months ago* (last edited 2 months ago)

For power and net? Yep, keep a a log of when you work from home, the times (easier you work an 8 hour shift every time) and use excel ballpark an amount. Or use a smart plug. Everything else, no, because if you wouldn’t have bought them if not for work, they’re due to it. I had office furniture but work has guideline for ergonomics for example. I have a OneNote for every wfh shift, for work and the tax man, in case either come asking questions. Only a couple lines of text per entry generally. Takes a couple minutes per shift.

[–] DavidDoesLemmy@aussie.zone 2 points 2 months ago (1 children)

WFH a lot, a few work purchases, maybe a conference.

[–] prex@aussie.zone 1 points 2 months ago (1 children)

You guys get conferences?

[–] DavidDoesLemmy@aussie.zone 1 points 2 months ago

They're only tax deductible if you pay for them yourself

[–] thumdinger@lemmy.world 2 points 2 months ago

Unsure how common it is, but income protection insurance is a fairly substantial deductible.

Add that in with WFH, work related eduction, tooling, uniform laundry, vehicle costs, professional association or union fees, etc., and you can rack up $1000-$2000 pretty quickly.

[–] YeahToast@aussie.zone 1 points 2 months ago

I paid $1200 for a 3 day conference which I think have significant other work related costs