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Tax Savings for 201 Employee Occupations
Von Darren Gleeson
Buchaktionen
Mit Lesen beginnenLänge: 457 Seiten3 Stunden
- Herausgeber:
- BookBaby
- Freigegeben:
- Aug 2, 2018
- ISBN:
- 9781925846072
- Format:
- Buch
Beschreibung
Tax Savings for 201 Employee Occupations details tax saving strategies and ideas for 201 different employee occupations. It doesn't matter what the occupation is, there are tax strategies that commonly apply to that occupation.
Often employee taxpayers are unaware of all the tax saving strategies that are available. This is understandable as the Australian taxation system is extremely complicated and ever changing. Up to date information is the key to ensuring taxpayers are not paying more tax than necessary.
The focus of this book is to educate and enlighten employee taxpayers about legal tax saving strategies that may apply to their specific occupation. Taxpayers should only pay the exact amount of tax they are legally required too and not a dollar more.
Often employee taxpayers are unaware of all the tax saving strategies that are available. This is understandable as the Australian taxation system is extremely complicated and ever changing. Up to date information is the key to ensuring taxpayers are not paying more tax than necessary.
The focus of this book is to educate and enlighten employee taxpayers about legal tax saving strategies that may apply to their specific occupation. Taxpayers should only pay the exact amount of tax they are legally required too and not a dollar more.
Informationen über das Buch
Tax Savings for 201 Employee Occupations
Von Darren Gleeson
Länge: 457 Seiten3 Stunden
Beschreibung
Tax Savings for 201 Employee Occupations details tax saving strategies and ideas for 201 different employee occupations. It doesn't matter what the occupation is, there are tax strategies that commonly apply to that occupation.
Often employee taxpayers are unaware of all the tax saving strategies that are available. This is understandable as the Australian taxation system is extremely complicated and ever changing. Up to date information is the key to ensuring taxpayers are not paying more tax than necessary.
The focus of this book is to educate and enlighten employee taxpayers about legal tax saving strategies that may apply to their specific occupation. Taxpayers should only pay the exact amount of tax they are legally required too and not a dollar more.
Often employee taxpayers are unaware of all the tax saving strategies that are available. This is understandable as the Australian taxation system is extremely complicated and ever changing. Up to date information is the key to ensuring taxpayers are not paying more tax than necessary.
The focus of this book is to educate and enlighten employee taxpayers about legal tax saving strategies that may apply to their specific occupation. Taxpayers should only pay the exact amount of tax they are legally required too and not a dollar more.
- Herausgeber:
- BookBaby
- Freigegeben:
- Aug 2, 2018
- ISBN:
- 9781925846072
- Format:
- Buch
Über den Autor
Darren Gleeson has been involved in the accounting public practice industry for over twenty-five years and is founder of the Success Tax Professionals franchise group of Registered Tax Agents and Public Accountants.
Darren is a taxation and business development specialist who is an advocate for and active in the development, training and mentoring of accountants, so they achieve their full potential and provide more value added and proactive services to their clients.
Darren’s blog on practice management, franchising and business development is available at www.stptax.com
Bezogen auf Tax Savings for 201 Employee Occupations
Buchvorschau
Tax Savings for 201 Employee Occupations - Darren Gleeson
Occupations
1.
Accountant
Average weekly pay: $1,400
Employment size: 189,100
Future growth: Strong
Skill level: Bachelor degree or higher
Accountants provide services relating to the preparation of financial statements, taxation, auditing, insolvency, budgeting, financial planning, and business advisory
Typical tax deductions include:
• Travel between work locations, travel visiting clients, or for training purposes.
• Phone, internet and laptop (work portion only).
• Briefcases, handbag, man-bag or work bags.
• Professional seminars, courses, conferences and workshops.
• Reference books, technical journals and trade magazines related to work as an accountant.
• Self-education courses related to the current job.
• Home office running expenses.
• Professional memberships – e.g. CPA, IPA, CA, etc.
Non-deductible expenses:
• Cost of business lunches, and attendance at sporting events, gala or social nights, concerts or other events. This is the case even if compulsory or business matters are discussed.
2.
Accounting Clerks
Average weekly pay: $1,071
Employment size: 126,600
Future growth: Decline
Skill level: Certificate II or III
Accounting clerks monitor creditor and debtor accounts, undertake related routine documentation, and calculate and investigate the cost of wages, materials, overheads and other operating costs.
Typical tax deductions include:
• Travel between work locations, travel visiting clients, or for training purposes.
• Phone, internet and laptop (work portion only).
• Briefcases, handbag, man-bag or work bags.
• Professional seminars, courses, conferences and workshops.
• Reference books, technical journals and trade magazines related to work as an accountant.
• Self-education courses related to the current job.
• Home office running expenses.
• Professional memberships – e.g. CPA, IPA, CA, etc.
Non-deductible expenses:
• Cost of business lunches (even if discussing business matters).
3.
Actors, Dancers & Other Entertainers
Average weekly pay: $600
Employment size: 6,000
Future growth: Strong
Skill level: Bachelor degree or higher
Actors, dancers and other entertainers all entertain (in one way or another). This is done by portraying roles in film, television, radio, stage productions, performing dances, or performing acts including singing, acting and dancing.
Typical tax deductions:
• Coaching classes or lessons if undertaken to maintain existing specific skills or to obtain work-related skills for use in a particular role or performance. This applies even if the training is undertaken between engagements.
• Fitness expenses if required to maintain a very high level of fitness and physical activity is an essential element in the work. For example, this is the case for a trapeze artist.
• Cost of tinted contact lenses to alter eye colour or special spectacle frames if it is required for a role.
• Cost of a particular hairstyle if it is required for a role. The cost of hairdressing specifically to maintain a required hair length or style as part of a costume for continuity purposes.
• Cost of stage make-up and cleansing materials for removing stage make-up.
• Travel to and from work if having either shifting places of work; or transporting bulky equipment or costumes.
• Travel between work locations, or for training purposes.
• Telephone, internet and laptop expenses (work percentage).
• Home office running expenses.
• Commissions paid to theatrical agents.
• Depreciation on computers, televisions, video recorders, compact disc players and professional libraries.
• Overtime meal expenses.
• Cost of maintaining a photographic portfolio for publicity purposes.
• Cost of researching a role or character if employed to play that role. For example, the cost of reference material containing information on a character, era or event.
• Audio, videotapes, video digital discs and compact discs used for rehearsal.
• Theatre and film tickets if the show has a content directly related to current work.
Non-deductible expenses:
• Joining fees paid to agencies.
• Audition expenses (incurred to gain work).
• Gifts such as flowers or alcohol provided to fellow performers, producers or directors (as it is a private expense).
• Hairdressing, make-up or facials that do not relate to the role or costume.
• Initial photo portfolio.
• Cost of attending awards nights or other social functions.
4.
Actuaries, Mathematicians & Statisticians
Average weekly pay: $2,142
Employment size: 8,800
Future growth: Very Strong
Skill level: Bachelor degree or higher
Actuaries, mathematicians and statisticians develop and apply actuarial, mathematical, statistical and quantitative principles to solve problems in a range of fields such as business, finance, scientific, social, and engineering.
Typical tax deductions include:
• Travel visiting clients, attending different workplaces, and attending training courses.
• Overnight and overseas travel for work purposes including airfares, meals and accommodation.
• Briefcases, handbag, man-bag or work bags.
• Professional seminars, courses, conferences and workshops.
• Reference books, technical journals and trade magazines.
• Phone, internet and laptop (work portion only).
• Self-education courses related to the current job.
• Home office running expenses.
• Professional memberships.
Non-deductible expenses:
• Cost of business lunches and social functions.
5.
Adult Industry Workers
Average weekly pay: $2,000
Employment size: 20,000
Future growth: Steady
Skill level: Nil
Adult industry workers provide a variety of exotic dancing, stripping or escort services.
Typical tax deductions:
• Travel visiting clients, attending different workplaces, and attending training courses.
• Percentage of home occupancy costs if seeing clients at home. This will include rent, interest, rates, insurance, etc.
• Advertising the business in the adult industry.
• Costumes and lingerie.
• Fetish equipment and adult novelties. (Depreciate if costing more than $300 per item).
• Rent of premises for working.
• Consumables including condoms, lubricants, gels, oils and tissues (if used solely for income earning purposes).
• Stage make-up and products.
• Dance lessons to maintain existing dance skills, or to learn new dance skills.
• Depreciation on computers, televisions, video recorders, and stereos.
• Telephone, internet and laptop (work percentage).
Non-deductible expenses:
• Every day clothes including shoes, dresses, skirts, blouses, etc.
• Fitness costs.
• Hairdressing, make-up or facials.
6.
Advertising and Marketing Professionals
Average weekly pay: $1,346
Employment size: 206,600
Future growth: Strong
Skill level: Bachelor degree or higher
Advertising and marketing professionals develop and coordinate advertising strategies and campaigns and identify and develop market opportunities for new and existing goods and services.
Typical tax deductions include:
• Travel to and from work if having either shifting places of work; or transporting bulky equipment when visiting clients, i.e. client samples and demonstration equipment.
• Travel between offices, visiting clients or for training purposes.
• Phone, internet and laptop.
• Non-entertainment gifts bought for work purposes by salespersons who are entitled to receive commission income. Deductible gifts include a Christmas hamper, a bottle of whisky, wine, gift vouchers, flowers, etc.
• Home office occupancy expenses if required by the employer to work from home. This includes rent, mortgage interest, council rates, insurance and repairs.
• Depreciation on computers, cameras, video recorders, and laptops. Each item that costs less than $300 can be expensed upfront.
• Referral commission and expenses.
• Handbag, satchel or briefcase.
• Meals and accommodation if required to be away overnight on sales trips or for training/conferences.
• Home office running expenses.
• Corporate uniform.
• Renewing a sales certificate or work-related memberships.
• Work-related short training courses, for example, first aid, OH&S, bookkeeping, sales techniques, customer service, merchandising, computer skills or management.
• Self-education course fees, the cost of books, stationery, equipment and travel required for the course.
Non-deductible expenses:
• Advertising – If earning income from a fixed salary and not entitled to earn commission.
• Gifts – If earning a fixed income and not entitled to earn commission.
• Entertainment expenses such as buying lunch for a client or business associate.
• Expenses incurred in attending social functions, e.g. monthly networking breakfasts.
7.
Aged and Disabled Carers
Average weekly pay: $900
Employment size: 163,700
Future growth: Very strong
Skill level: Certificate II or III
Aged and disabled carers provide general household assistance, emotional support, care, and companionship for aged and disabled persons in their own homes.
Typical tax deductions include:
• Home to work travel costs incurred due to shifting places of work (visiting 5-10 client houses each day).
• Travel between work locations, or for training purposes.
• Compulsory work uniforms, non-slip nurse’s shoes, stockings, vests and cardigans, safety glasses, gloves, aprons and lab coats.
• Overtime meals (if paid a meal allowance under an Industrial Award).
• Phone, internet and home office expenses.
• Self-education expenses (must be related to the current job).
• Magazines, books and journals related to health and medicine. For example, Aged Care Insight, Australasian Journal on Ageing, and Home Care Magazine.
• Agency commissions and agency fees.
• Annual practising certificate fees, nursing association or union fees.
• Equipment including fob watches, briefcases, handbags, iPad, laptop, stethoscope, etc. Items costing more than $300 each need to be depreciated over their effective life.
Non-deductible expenses:
• Upfront fees, joining fees or search fees paid to an agency.
• Client gifts, meals and entertainment.
8.
Agricultural & Forestry Scientists
Average weekly pay: $1,473
Employment size: 14,100
Future growth: Stable
Skill level: Bachelor degree or higher
Agricultural and forestry scientists advise on farming, develop techniques for increasing productivity, and develop plans and policies for the management of forest areas.
Typical tax deductions:
• Travel to and from work for employees with shifting workplaces (who regularly work at more than one site each day before returning home) or transport bulky equipment (normally 20 plus kilos).
• Travel between job sites, to pick up materials, or attend training courses.
• Telephone, internet and laptop costs.
• Dogs, when used for work purposes. The purchase cost of the dog (and training fees) are not deductible as they are capital costs. In contrast, vet bills and pet food bills may qualify as a tax deduction.
• Protective clothing including safety-coloured vests, steel-capped boots, gloves, and overalls. Work clothing branded with the employer’s logo.
• Sun protection costs including sunglasses, hats and sunscreen lotions.
• Union fees, licences and registrations.
• Courses, seminars and self-education expenses.
• Tools and equipment. (Depreciate if costing more than $300 each).
• Home office running expenses.
9.
Agricultural, Forestry & Horticultural Operators
Average weekly pay: $975
Employment size: 14,900
Future growth: Stable
Skill level: Certificate II or III
Agricultural, forestry and horticultural operators operate plant to clear and cultivate land, sow and harvest crops, and fell trees and move logs.
Typical tax deductions:
• Travel to and from work for employees with shifting workplaces (who regularly work at more than one site each day before returning home) or transport bulky equipment (normally 20 plus kilos).
• Travel between job sites, to pick up materials, or attend training courses.
• Telephone, internet and laptop costs.
• Dogs, when used for work purposes. The purchase cost of the dog (and training fees) are not deductible as they are capital costs. In contrast, vet bills and pet food bills may qualify as a tax deduction.
• Protective clothing including safety-coloured vests, steel-capped boots, gloves, and overalls. Work clothing branded with the employer’s logo.
• Sun protection costs including sunglasses, hats and sunscreen lotions.
• Union fees, licences and registrations.
• Courses, seminars and self-education expenses.
• Tools and equipment. (Depreciate if costing more than $300 each).
• Home office running expenses.
10.
Air-conditioning and Refrigeration Mechanics
Average weekly pay: $1,500
Employment size: 26,700
Future growth: Moderate
Skill level: Certificate III or IV
Air-conditioning and refrigeration mechanics assemble, install, and repair industrial, commercial and domestic air-conditioning and refrigeration systems.
Typical tax deductions:
• Travel to and from work for employees with shifting workplaces (who regularly work at more than one site each day before returning home) or transport bulky equipment (normally 20 plus kilos).
• Travel between job sites, to pick up materials, or attend training courses.
• Telephone, internet and laptop costs.
• Dogs, when used at worksites to guard the tools against theft. The purchase cost of the dog (and training fees) are not deductible as they are capital costs. In contrast, vet bills and pet food bills may qualify as a tax deduction.
• Protective clothing including safety-coloured vests, steel-capped boots, gloves, and overalls. Work clothing branded with the employer’s logo.
• Sun protection costs including sunglasses, hats and sunscreen lotions.
• Union fees, licences and registrations.
• Courses, seminars and self-education expenses.
• Tools and equipment. (Depreciate if costing more than $300 each).
• Home office running expenses.
11.
Air Transport Professionals
Average weekly pay: $1,250
Employment size: 14,400
Future growth: Stable
Skill level: Bachelor degree or higher
Air transport professionals fly and navigate aircraft, control and direct air traffic, and instruct students in flying aircraft.
Typical tax deductions:
• Overnight travel expenses including meals, drinks and incidentals. These will be deductible if incurred, receipted, and not reimbursed.
• Travel between workplaces or for training purposes.
• Telephone, internet and laptop costs.
• Cost of anti-glare glasses used to combat the harsh working conditions inside a cockpit.
• Premiums paid for salary guarantee and loss of licence insurance.
• Medical examination costs associated with the renewal of work-related business licences.
• Home office running expenses.
• Courses, seminars and self-education expenses.
• Travel bags, overnight bags, suit packs, suitcases and luggage trolleys. (Depreciate items costing more than $300).
• Rehydrating moisturiser and rehydrating hair conditioner when used to combat the drying effects of the aircraft cabin pressure.
• Union and professional association fees.
Non-deductible expenses:
• The cost of buying timepieces or watches.
• The cost of transporting luggage to the airport.
• Prescription glasses and contact lenses.
12.
Ambulance Officers & Paramedics
Average weekly pay: $1,700
Employment size: 17,100
Future growth: Very strong
Skill level: Associate degree or diploma
Ambulance officers and paramedics provide emergency health care and transport for injured, sick, infirmed and aged persons to medical facilities.
Typical tax deductions include:
• Travel to and from work for employees with shifting workplaces (who regularly work at more than one site each day before returning home) or transport bulky medical equipment (normally 20 plus kilos).
• Travel between job sites, to pick up materials, or attend training courses.
• Travel expenses associated with attending medical conferences, seminars, and training courses. Expenses include motor vehicle, airfares, accommodation, meals, and incidentals.
• Compulsory work uniforms, non-slip shoes, safety glasses, gloves, aprons and lab coats.
• Overtime meals (if paid a meal allowance under an Industrial Award).
• Phone, internet and laptop costs.
• Home office running expenses.
• Self-education expenses (must be related to the current job).
• Magazines, books and journals related to health and medicine.
• Annual practising certificate fees, nursing association or union fees.
• Equipment including fob watches, briefcases, handbags, iPad, laptop, stethoscope, etc.
Non-deductible expenses:
• Ordinary wristwatches.
• Vaccinations.
13.
Amusement, Fitness and Sports Centre Personnel
Average weekly pay: $1,000
Employment size: 13,700
Future growth: Very strong
Skill level: Associate degree or diploma
Amusement, fitness and sports centre managers organise, control and promote the activities, facilities and resources of amusement, fitness and sports centres.
Typical tax deductions:
• Travel to and from work, and client’s premises, while transporting bulky fitness equipment.
• Travel between various places of work, training related travel, or travel to competitions (where the prizes won would be part of income, or where coaching students).
• Telephone, internet and laptop costs.
• Sun protection costs including sunglasses, hats and sunscreen lotions.
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