And honestly? It drives me nuts.
## **Here’s what nobody tells you about tax returns**
Your accountant won’t say this out loud, but the ATO isn’t gonna tap you on the shoulder and say “hey mate, you forgot to claim this”. Nope. They’re perfectly happy keeping your money.
That’s why you need to get smart about this stuff.
## **The stuff you’re probably missing right now**
Okay so here’s where most employed people mess up:
– **Work from home expenses** – If you worked even ONE day from home, you can claim stuff. Internet, phone bills, that fancy ergonomic chair you bought… it all counts
– **Car expenses** – Not just for work trips. Going to training? Picking up supplies? That’s deductible
– **Professional development** – Those online courses you did during lockdown? Yep, claim ’em
– **Union fees and professional memberships** – Every. Single. Dollar.
But wait there’s more (and I’m not trying to sound like a late night infomercial here).
## **The sneaky deductions that add up FAST**
You know what kills me? When people don’t claim:
– **Laundry for work uniforms** – Even if it’s just a branded polo shirt
– **Tools and equipment** – That laptop bag? Deductible. Phone case? Yep.
– **Income protection insurance** – This one’s huge and everyone forgets it
– **Charity donations** – Got receipts? Claim it all
Seriously, I had a client last week who found $1,200 worth of deductions just from going through their credit card statements. One thousand two hundred dollars!
## **Timing is everything (and most people screw this up)**
Here’s the thing… if you wait til June to think about tax, you’ve already lost.
The smart money starts planning in January. Why? Because you can actually DO something about it then. Buy that work equipment before June 30. Prepay next year’s professional memberships. Make those charity donations while they still count.
## **For the sole traders reading this**
Oh man, if you’re running your own show, the game changes completely. You can claim:
– Part of your rent or mortgage (home office anyone?)
– Your internet and phone bills
– That coffee meeting with a potential client
– Even your Spotify subscription if you use it for work
But here’s the kicker – you NEED to keep receipts. The ATO isn’t messing around anymore.
## **The biggest mistake I see every. single. year.**
People try to DIY their tax return to save a few bucks. Then they miss thousands in deductions because they don’t know what they don’t know.
It’s like… would you do your own dental work to save money? Course not.
A good accountant (like the team here at The Tax Queen) will find way more deductions than they cost. It’s not even close.
## **So what should you actually do?**
First up, start keeping track of EVERYTHING. Get an app, use a spreadsheet, whatever works. But document it all.
Second, don’t wait til tax time. Seriously. The best tax strategies happen throughout the year, not in a mad rush come July.
Third (and this is the important bit), get someone who knows what they’re doing to help you. The tax laws change every year and unless you’re reading ATO updates for fun on weekends… you’re gonna miss stuff.
## **Here’s my challenge to you**
Grab your last tax return. Right now. Go on, I’ll wait…
Now look at your deductions. If it’s less than $2,000 and you’re employed, I GUARANTEE you missed stuff. If you’re self employed and it’s under $5,000? Same deal.
The money’s there. You just need to know where to look.
And hey, if you want someone to do the looking for you? Give The Tax Queen a call. They actually give a damn about getting you every dollar you deserve.
Because at the end of the day? It’s YOUR money. Not the ATO’s.
Time to get it back.
