Usually, people get very confused about what they can and cannot claim on their tax return. So, if this is also the case for you, you’d better hire an accountant – preferably from the most experienced accountant office in the Brisbane area – Syndeo Group. An experienced accountant will tell you specifically which things you can include in this year’s tax return. They know all the tricks and tips to help you get the most out of it.
And, depending on your profession, there are many surprising tax deductions you can claim. All you need to know is that the thing you are claiming tax deductions for, should be job-related, not a private expense. Just seek professional advice from a Syndeo Group accountant and find out all about it.
Here’s a list of some of the most surprising tax deductions to include in this year’s claim:
1. Game Consoles
Yes, that’s right. Even though it may sound hilarious, professional gamers and e-sports professionals have the right to include gaming consoles in their tax deductions claim. For those people, playing games isn’t just a way to relax but it is their job and how they make a living. So, an Xbox and a Playstation are work-related expenses for gamers.
Any business area like a waiting room or a conference room needs proper decoration like artwork, a painting, or a piece of memorabilia. So, as long as you don’t put such decorations in your private home, you are eligible to claim them as tax deductions. Just make sure that such pieces of art aren’t very expensive because the ATO will become suspicious.
Businessmen and businesswomen have to have a specific hand bag or several handbags designated for work purposes only. And, luckily for them, they can also include such expenses in their tax deductions claim this year. However, you should prove that you use it only for work and things like carrying documents, your laptop, etc. Also, be careful if you want to claim tax deductions for an extremely expensive designer bag – the ATO could again become suspicious.
Dogs are really man’s best friend, but they are also sometimes needed for work. For example, you may get a dog to guard your business premises or you may need one if you own a farm. In both of these cases, you are legitimate to claim tax deductions for the dog you bought. Just make sure that there’s a reason why you need a dog for your work.
5. Alcoholic Drinks
This might seem crazy but if you are a wine merchant or work as a consultant at a restaurant you may need to offer clients tastings. In this case, you are eligible to claim alcoholic drinks as tax deductions.
It is true that there are some quite surprising items on this list. And there may be some even more surprising ones that you haven’t heard of. So, consult with Syndeo Group and find out what exactly you can claim as deductions.