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Tax deadline looms: Don’t forget about these 5 deductions

Here are some common expenses you may be able to claim this tax time, from a handbag to parking.

Tamika Seeto
·Finance Reporter
Updated ·3-min read
Image of tax return and Australian money in wallet.
Still need to do your tax return? Don't forget to claim these deductions. (Source: Getty)

There’s still time to lodge your tax return for the 2022-23 financial year, and one expert is reminding Aussies to claim these deductions.

Aussies have until October 31 to lodge their tax return (or register with a tax agent) or risk being hit with a major fine.

Director of tax communications at H&R Block Mark Chapman has urged Aussies to check if they are entitled to the following expenses and to make sure they claim them.

1. Self-education expenses

“You can claim expenses for university or TAFE fees to the extent that the course relates to your current employment and you’re not being reimbursed,” Chapman said.

“You can also claim associated costs such as textbooks, travel to the educational institution and stationery.”

If you need to undertake ongoing professional development for your trade or profession, these costs will also be tax deductible to the extent they are linked to your current job.

You can’t claim for a pro-vocational course, Chapman said, which are courses that help you get a job in a particular field.

2. Professional memberships and subscriptions

“If you’re a member of a professional or trade association as part of your work, you can claim a deduction for the amount you pay in subscriptions,” Chapman said.

“This also covers union fees, if you’re a member of a trade union, as well as subscriptions to trade or professional magazines.”

3. A handbag

If you use a bag for work purposes - such as to carry your laptop, phone, stationery or anything else you need for work - you can claim a deduction for the bag.

“Be careful though. The handbag needs to be fit for work purposes and actually used for work purposes,” Chapman said.

“You might struggle to claim that new Gucci bag, but a more modest bag – genuinely used only for work purposes – should be claimable. For men, a work briefcase, satchel or backpack should also be claimable.”

4. Travel

If you travel for work, you can claim the costs of your work-related journeys, such as the cost of visiting clients or suppliers.

“If you use your own car, either claim 78 cents per kilometre up to a maximum 5,000km, or keep a logbook and claim your actual expenses. You can also claim for parking, tolls and public transport if you don’t use your car,” Chapman said.

5. Rental property expenses

“Most people with a rental property know that you can claim a deduction for the interest element of the mortgage but there are plenty of other deductions you can claim on a rental property, many of which are often overlooked,” Chapman said.

Here are the costs you could claim a deduction on:

  • Gardening and lawn mowing

  • Bank fees

  • Pest control

  • Security patrol fees

  • Bookkeeping/secretarial fees

  • Maintenance and repairs

  • End-of-lease cleaning costs

  • Letting agent fees, including marketing

For those claiming work from home expenses, here’s a separate rundown on the recent changes, plus the tips and traps to watch out for.

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