Blue Orchid Accounting - Pattern

5 Forgotten Tax Deductions


Many People Overlook Some Sizable Deductions That Could Be Worth Hundreds Or Even Thousands Of Dollars

Deductions are items that you can claim but are often forgotten, or sometimes, you simply don’t know about them.

Let’s take a look at the top 5 most forgotten tax deductions.

Tax Agent Fees
Tax agent fees are also a tax deduction. If you use the service of a tax agent to prepare and lodge your tax return for last year, you could claim the amount that you paid on your current year’s return.

Union or Membership Fees
If you are part of a union or you pay membership fees as part of your profession, you can  claim for a tax deduction on those, too.

Mobile Phone
Are you using your phone to make work calls? If your company is requiring you to call clients or other members of your company using your personal mobile phone, you can claim a mobile tax deduction on your tax return.

You can claim the costs of the work-related calls on your phone bill. Keep a logbook or a record of all work-related calls you are making.

Home Office Expenses
If you are working from home or checking and responding to emails during the evening or weekends, you can claim the costs of using your computer as a tax deduction.

The Australian Taxation Office allows employees who are working from home occasionally to claim a part of their home office expenses. This can include the software, furniture, equipment or a percentage of your electricity and internet bill.

Work-Related Car Expenses
If you use your personal car for work-related purposes, you may be able to  claim the cost of those expenses. Other than driving to and from work, you can also claim the maintenance and fuel costs as part of your tax deduction.

To be eligible for the car expenses tax deductions, you must be the owner of the car and your travel must be part of your working day. It can be driving between offices or work sites of your company or making special trips to the bank or to a business meeting.