Helpful Tax Hints & Guidelines
Ring a Refund Tax offers its clients a range of helpful hints & guidelines to enable them to maximise their tax claim and also assist in organising various receipts and other documents.
Living away from home allowance
LAFHA is an allowance paid by an employer to an employee to compensate for additional expenses incurred and any disadvantages suffered because the employee is required to live away from their usual place of residence in order to perform their employment duties. Read More
What is the tax free threshold
If you are an Australian resident for tax purposes, the first $18,200 of your yearly income is not taxed. This is called the tax-free threshold. Therefore, by claiming the threshold, you reduce the amount of tax that is withheld from your pay during the year.
What work clothing can be claimed?
If you have a compulsory uniform that is strictly enforced at your workplace, then you can claim for the cost of purchasing it. It must have a company logo and identify you with your place of work. You can’t make a claim for normal business wear that does not have a logo, regardless whether your employer requires you to wear it to work. Read More
Tax return Deadline
If you lodged your last year tax return by yourself you have until the 31st October to lodge.
If you lodged your last year tax return through an accountant you have until the 15th May to lodge.
Do I have to lodge?
If you earned $18,200 or less in the past financial year AND you had no tax withheld from that income, you might not be required to lodge a tax return. However, even if you don’t lodge a tax return, you still have to notify the Australian Tax Office (ATO) of a Return Not Necessary.
How to prepare for your tax return
To be prepared for your tax return we ask you to have the following readily available: Read More
Donations & Gifts
You can only claim a tax deduction for gifts or donations to organisations that have the status of deductible gift recipients.
For you to claim a tax deduction for a gift, it must meet four conditions: Read More
Home office
You may be entitled to claim deductions for home expenses including a computer, phone or other electronic devices you are required to use for work purposes, as well as a deduction for running costs. Read More
Vehicle & Travel Expenses
You can claim vehicle and other travel expenses directly connected with your work, but generally you can’t claim for normal trips between home and work – this is considered private travel. Read More
Claiming tools
If you buy tools, equipment or other assets to help earn your income, you can claim a deduction for some or all of the cost. Read More
Income you must declare
Your income is declared on your tax return each year. Most of this information is pre-filled from details we receive from employers and financial institutions, but there is some you will need to record manually. Read More