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Doing your taxes might not sound like the most fun activity in the world, but it’s worth doing it right. You work hard every day in your job in the meat industry and you deserve to keep as much of your pay in your pocket at the end of each year.
The way to do this is to know all the deductions that meat workers in Australia may be entitled to and to make sure you claim all the relevant ones when you do your return. The more legitimate claims you make, the better your refund. And don’t worry, you don’t have to do it all by yourself. Our experienced tax consultants here at H&R Block know all the rules and will make sure you get the very best result.
Whether you’re working in meat processing or butchery, you’ll receive an income statement from your employer that will outline all of your salary, wages, allowances and bonuses for the financial year. Next, you have to work out your deductions.
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 meat worker, such as:
There are several key expenses you can’t claim, including:
You can only make claims if you have the evidence to back it up. So staying on top of your receipts and having impeccable record is very important if you want to get a good tax refund. So it’s a smart idea to create an easy and reliable system to help you keep on top of this throughout the year.
Remember, you don’t need to keep physical receipts, and it’s 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).
It’s okay, we know this can happen to anyone, and dealing with it as soon as possible is always the best approach. It’s essential that you take great care in putting together the information and supporting documentation when filing your tax return, and only 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 realise you’ve self-lodged and 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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