Tax deductions for teachers
When it comes to tax returns, there’s no such thing as a ‘one-size fits all’ return. Digging deep into occupation-specific deductions makes all the difference come tax time. So while you’re busy shaping young minds, our tax consultants are busy searching for specific expenses that we can help you claim. Leverage our expertise to maximise your refund this tax-time.
Because your day can often end long after the last school bell, we know there’s not much time or energy left for pushing paper. We’ve developed some teacher-specific tax tips that can make all the difference this tax time.
Teacher specific deductions
Our philosophy is centred around tailoring tax to the subtleties of your occupation. We set our parameters around the particulars of your profession and that’s what sets us apart.
As specialists in occupation specific returns, discovering all the deductions teachers can claim is what we love and why we guarantee the best outcome. Here are some of the smart deductions teachers can claim:
- Annual teacher registration
- References books or a professional library
- Stationery, art materials, stopwatches and computer consumables including pens and toner cartridges
- Depreciation on technology costing more than $300, like computers, laptops, tablets, mobile phones and printers (items less than $300 may be written off immediately)
- Teacher aids
- Conferences and courses linked to your teaching
- Home study expenses including electricity, internet and phone
- Expenses relating to sports trips and school camps
- Work-related travel (not including the commute to and from work)
- Clothing (such as uniforms) and laundry
After all is said and deducted, we specialise in making tax simple. With over 40 years as Australia’s leading taxation experts, we’re fascinated by numbers – and great results.
The education advantage
Our advice is the same whether you’re a first-year teacher, or have been in the job for a while. It’s important to employ detailed knowledge of the tax system so you know what you can and can’t claim at tax time.
What’s not widely understood is exactly what you can claim as work-related expenses. It’s important to do the groundwork before tax time and keep a record of your outgoings. As a general rule, if you’re not reimbursed for out-of-pocket expenses related to work, you can claim it.
Retain your receipts and invoices, bank and credit card statements so you can go through them with our tax experts. To take your tax to the next level, keep a journal of the number of kilometres you travelled for work this year, when and where you went and why it’s work-related.
To make sure you’re making the most of tax and getting the right returns, call 132335 and lock in an appointment at your local H&R Block office today.