Maximise your Tax Deductions with Spend Tracker

Manage your cash flow and make tax time easier by tagging tax deductible transactions throughout the year from any bank account or credit/debit card. Simply sign up or login to MoneyHub and link your bank accounts to get started.
Maximise your Tax Deductions with Spend Tracker
<p>Track all your expenses in one place</p>

Track all your expenses in one place

Link as many bank accounts and cards as you want and see it all in the one platform.
<p>Plan ahead with spending insights</p>

Plan ahead with spending insights

View your income, savings and spending habits each month and manage your cash flow by categories.
<p>Tag potential tax deductions throughout the year </p>

Tag potential tax deductions throughout the year 

Identify transactions that may be tax deductible throughout the year and take the stress out of tax time
<p>Download a consolidated list and take it to your tax agent</p>

Download a consolidated list and take it to your tax agent

Ensure you claim everything you're entitled to and get the maximum refund possible.

Maximise your tax deductions in 3 easy steps

  1. Log into MoneyHub

    Set up an account and link your bank accounts. You can add more than one bank and there's no limit to how many accounts you can track.
  2. Tag tax deductible transactions with Spend Tracker

    Our Spend Tracker tool allows you tag transactions as potential tax deductions throughout the year. It's also a great way to check you have all your receipts!
  3. Download deductions list & submit to tax agent

    When tax time comes, simply download your list of potential deductions and send them straight to your tax agent.
Maximise your tax deductions in 3 easy steps

Increase your tax refund by claiming all the tax deductions you're entitled to!

The best way to avoid missing any potential tax deductions, is to flag the transaction first and have your tax agent double check it at the end of the year. 

To help get you started, we've put together the most commonly claimed merchants and why you may be entitled to a deduction. 


Please note, the below information is general in nature and is to be used as a guide only. 

Tax deduction eligibility is based on individual circumstances and occupations. If you're unsure, flag the transaction first and and check it with your tax agent.

There are many more potential merchants available and this list is purely for example purposes. 

Travel

Taxis & Ride Share

Work related travel expenses such as travelling between two separate places of employment, expenses incurred while on a work trip or attending meetings and training courses.

Accomodation

You may be able to claim work related accommodation expenses for overnight trips if they are not already reimbursed by your employer.

Airfares

If you're attending courses, meetings or have to travel interstate (or overseas) for work, you may be able to claim your airfares. Same rules outlined above would apply.

Vehicle & Parking

If you're required to use your car for work, you are entitled to a deduction for the costs which you incur whilst at work. This may include travel between job sites, transporting bulky equipment or attending training courses.

Overnight Meals

If you're required to travel away from home overnight for work purposes, you may be able to claim a deduction for any meals which you incur, to the extent you are not reimbursed by your employer.

Work Equipment

Tools & PPE

Those who work in a job that requires occupation-specific clothing, protective clothing or a distinctive uniform, may be allowed to claim a deduction.

Utilities

Working from home

If you work from home (either part time or full time) then some portion of the home office expenses may be claimed as a tax deduction.

Subscriptions

Union Fees

If you're part of a trade union, your fees may be tax deductible.

Self Education

Courses & course expenses

You may be able to claim a deduction for courses and general course expenses if they have a sufficient enough connection to your current work activities as an employee and lead to formal qualifications.

Donations

Charities & Gifts

You can only claim a tax deduction for donations or gifts to organisations which are deductible gift recipients (DGRs). 

Tax Preparation

Don't forget, the cost of managing your tax is tax deductible too!

Plus, we're so confident that we can maximise your tax return, we even have a maximum refund guarantee. Book an appointment online today or call 132325 to find out more.

Have questions? We've got answers

Tagging tax deductible transactions is one of the best features of Spend Tracker, as it will allow you to be prepared when it comes to tax time.

To tag a potential tax deduction, all you have to do is:

1) Go to your transaction line

2) Click on the ‘edit’ icon under the “Potential Tax Deduction” header

3) Then you just put a mark next to the specific transaction you would like to tag

4) Or you can choose to apply a rule to all similar transactions

No problem! If only part of your transaction is potentially taxable, you can just tag all transactions you think might be partly or fully taxable. This way they will all be included and you can work out the exact percentage of the transaction that is taxable when you work with your tax consultant at the end of the tax year.

Yes. Keeping receipts is an important part of managing your taxes and you should always keep receipts for any expenses you think could be a possible deduction. Remember, if you didn’t get a receipt at the time of payment you can always follow up with the supplier to get a copy of the receipt at a later stage. 

Yes. When you look at your list of transaction in Spend Tracker, you can easily filter the transactions so that you will only view potential tax deductions. You can also set the filter to a specific date range, so you will only see potential tax deductions during the chosen time frame. 

When tax time rolls around, all you need to do is:

1) Download your list of potential tax deductions

2) Then take this list with you to your tax appointment

If you have chosen to do your tax virtually, simply upload it into our secure client portal and your consultant will be able to access it from there.