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Top tax tips

Top tax tips

Related articles

Date Published : Wednesday, June 25, 2008

Tax time is upon us, which means many Australians are grappling with what does and does not count as a legitimate work-related claim.

As a result, some consumers could be missing out on tax refunds they are entitled to, news.com.au says.

However, that could change thanks to the Taxation Institute of Australia (TIA), which has issued some guidelines on what can be claimed for.

First and foremost, the TIA says consumers must be able to demonstrate how they have calculated their tax claims and - if the amount is more than $300 - they need to back up their sums with paperwork.

This could be receipts, either the originals or copies, bank account or credit card statements and BPAY reference numbers supported by bank statements.

Furthermore, after lodging their return, all of the relevant paperwork must be retained for five years from the date of its submission, the site says.

The TIA has also issued advice to workers in particular professions as to what constitutes a legitimate work-related tax claim.

Bank tellers, for example, can claim for the purchase and cleaning of compulsory uniforms, travel between branches or clients, membership fees for professional and union organisations, and the purchase and maintenance of work-related equipment such as calculators and personal organisers.

In the construction industry, the TIA said builders their employees are entitled to claim items such as travel between sites, protective clothing such as goggles and helmets, and insurance cover for tools and equipment.

Trades people such as mechanics, electricians, carpenters and plumbers can also claim for many of these items, as well as professional body or union fees.

People working in IT can submit tax claims for courses and seminars, home office expenses, equipment repairs, income protection insurance, internet access where necessary and computers or software valued at less than $300.

The TIA is a trade body with more than 10,000 members working in Australia's tax profession.

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