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The Tax Time Guide For People With NFI

By Simone Jovel - 01 Jul 2017

Nothing makes you feel more like a toddler running around with a bucket on their head than tax time. Or is that just me? Each year we fail in our attempt to get our shit together, and adult like the bosses we know we are (deep, deep down). 

Which is why this tax time we thought we’d do you all a solid, with some handy tax tips that we can all understand. If this time of year literally translates to “Wooooooooot! Can finally book that holiday I bloody well deserve”—keep reading.

Let’s Start At The Beginning

This might seem simple, but for anyone that’s moved house (it’s bloody stressful), sometimes you let your life admin slide. If you’ve changed address, gotten hitched (congrat-u-fricking-lations), or divorced (hey, true love’s out there), you’ll want to be letting your mates over at the ATO know. 

Also, for anyone that’s lodged a return recently you’re no doubt a fan of the magic that is auto-fill, but it doesn’t hurt to give it a once over. After all, didn’t your mother ever tell you not to believe everything you read online? Double-check your bank deets and even the spelling; it’ll save you from any unnecessary headaches later on.  

This Is You, IRL—So Tell The Truth.

Wait, what? You mean I didn’t #wokeuplikethis with a dog filter on my face? Honestly. We live in a world where we, let’s just say, tend to slightly embellish on the truth, and tax time is not one of them. It’s pretty simple; only claim what you’ve legitimately spent and make sure you have the paperwork to back it up. Whether that’s with a legit sack of crumpled receipts, or electronically stored ones. Side note: the ATO auditor will not have a selfie with you.

Now To The Good Stuff—Here’s Everything You Could Be Claiming

Car: If you have a car and you use it to visit clients, or head to your work site, it’s you’re lucky day. But don’t be ridiculous and think you can claim just for travelling to and from work.

Work-Related Travel: Think work meals, accommodation and that’s just for starters.

Your Handbag: Now that we have your attention, should you use your handbag for (you guessed it) work-related purposes (yes, carrying that company iPad is work related!), it’s likely you can claim it.

Study: If your study relates to your field of work, this is your lucky day!

Sunscreen: Only if you work outdoors (not if you walk to work in the sun, nice try, guys), this also goes for SPF make-up, but again, only if you work outdoors. 

Charity donations: Whether it’s $2 or $2,000 you’ll get more than those standard good-will feels come tax time.

Your tax return: That’s right, your accountant’s fee is tax deductable—genius, really.

Get Help

ICYMI, accountants live for this stuff. Tax time is essentially their equivalent of a 4am rooftop rave, so find a good one, and give them the time of their life.

And what will you do with all that extra cash you ask? Try cramming some of these into your life for starters! 

Image credit: via Fashion Industry Broadcast

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