The official end of the 2022 financial year falls on Thursday 30th June, so it’s time to prepare all your financial information for the 21/22 financial year (1 July 2021 – 30 June 2022) and be tax ready. We recommend lodging your tax return during July or August, but please book an appointment in advance because we to tend to get very busy during this time.

If you still haven’t lodged your 20/21 tax return get in touch with us immediately as the deadline for this was 15th May 2022!

As a reminder we need the following documents for your appointment:

For salary and wage earners

  • PAYG payment summaries
  • Investment income – Interest on bank accounts & dividends received on shares
  • Private health statements
  • Work-related expenses
    • –  Motor vehicle expenses
    • –  Travelling expenses
    • –  Uniforms
    • –  Self-educated expenses
    • –  Union fees
    • –  Seminars/ courses
    • –  Trade journals
    • –  Computer costs, including internet access
    • –  Mobile and telephone costs – only the work-related portion
    • –  Tools and equipment
    • –  Professional registrations
    • –  Sun protection costs
  • Donations
  • Any other information you consider may be necessary

Do you work from home?

If you worked from home for a period of time over the 21/22 financial year, remember to include your extra expenses:

  • The use of equipment – computer
  • Utilities – electricity, heating and cooling, cleaning
  • Phone and Internet usage
  • Stationary costs – printer ink, paper

You can claim a fixed rate of 52 cents per hour you worked from home. You will need to have kept records for a 4-week period in the income year if you want to claim deductions over $50, including diary evidence of hours worked, receipts for work purchases and telephone/internet bills.

Did you purchase COVID-19 tests for work?

The Government announced on 7 February 2022 that they will ensure Covid-19 testing expenses are tax deductible for testing taken to attend a place of work. If you have incurred expenses for COVID-19 tests, you should have kept a record of those expenses and add them to your work-related expenses information.

To schedule an appointment or if you have any questions relating to the documents you should bring with you, please get in touch on 08 9240 7629, contact your Taxpro accountant direct or email: admin@taxproaustralia.com.au

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