When you’re flying high for work, it can be a bit of a downer when you realise it’s that time of year to do your taxes again. But don’t lose heart, tax season can be a positive time of the year (yes, really!) and even a chance to get a few extra dollars in your pocket.
The way to do this is by making sure you claim every possible legitimate deduction, which will help you to get the best refund at the end of the day. Working with an experienced tax professional, like our amazing consultants here at H&R Block, is a smart way to do this because we know the ins and outs of the system and can make sure you get all of the deductions you are entitled to.
When you’re a member of a flight crew for any Australian airline, you will get an income statement at the end of the financial year that will outline all of your salary, wages, allowances and bonuses for that year. Once you have this, you can start working out your deductions. To make it a little easier, we’ve put together this handy guide, to help you work out some of the things to which you’re entitled.
You can claim deductions on any money spent during the financial year on products or services that directly related to earning your income. You need to have spent the money yourself (it can’t have been reimbursed by your employer) and you need to keep a record of the expense such as a receipt or invoice.
There is a wide range of deductions you can claim as a flight attendant, such as:
There are several key expenses you can’t claim, including:
Keeping clear and complete records is important when it comes to tax time, and it’s a good idea to create an easy and reliable system to help you keep on top of this throughout the year.
You don’t necessarily need to keep physical receipts, and it’s also acceptable to keep a digital copy (such as a photo of a receipt or an email receipt) provided it is possible to read:
You also don’t need to keep receipts for expenses under $10 (as long as these don’t cumulatively come to more than $200).
To avoid having any issues with your tax return, it’s essential that you take great care in putting together the information and supporting documentation when filing your tax return. You should only ever claim deductions that are genuine to avoid penalties and possibly even prosecution from the ATO.
But we all make innocent mistakes sometimes and if you’ve lodged yourself and realise you’ve submitted incorrect or unsubstantiated claims then you should contact us immediately and we will assist you in making the necessary amendments.
Still have some questions about lodging your tax return? Talk to H&R Block. Our experienced tax consultants will be able to help. Call 13 23 25 for details or find your nearest office and book an appointment online.
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