Of course, if your tax return is a very simple one, perhaps you can manage to do it using the online forms available online from the ATO, but from my experience, you are likely to remain ignorant to many industry specific claimable items that a specialist tax consultant will be familiar with.
As a teacher, some examples of this include expenses incurred:
- For professional development seminars including travel to and from the venue.
- Depreciable items for your study, such as a desk, lamp and curtains and a percentage of your phone bill incurred as a result of work.
- 1 computer for professional use, plus printers (depreciable) and related gadgetry
- Professional library purchases and that of other classroom materials such as relevant dvds or music
- Sun glasses, sun hat and sunscreen if teaching or supervising students outdoors
- Donations to charities over $2,00, (keep receipts)
- As a Drama, or Literature Teacher, costs for attending theatre performances
Whenever I meet with my tax accountant, they walk me through all the deductions I am entitled to declare and we jointly execute my tax return proformas for the ATO.
I keep and take to my appointment:
- A log of job related trips and the distances I cover to and from venues.
- Receipts related to the purchase of anything from the above list.
My appointment with my accountant to assist me with completing my tax return is in itself a tax deductable expense.
To me it makes sense to use the expertise and experience of a qualified and reputable taxation expert to help complete a tax return and I am absolutely certain, I would have missed out on hundreds of dollars a year that was eligible to be refunded , without their guidance!
Find a taxation expert specific to the industry in which you work and use their expertise and experience to maximise your tax refund!