The Australian Taxation Office want to make tax time as easy as possible – whether you do your own tax or use a registered tax agent.
Before lodging, make sure you:
- sort your business records, such as bank statements and cash, online, EFTPOS and credit or debit card transactions, into income and expenses you can claim as a business deduction
- check if your expenses qualify for small business tax concessions, including the instant asset write-off or the accelerated depreciation,
- make digital copies of paper records and make a backup just in case. If you're a sole trader, you can use the myDeductions tool on the ATO app.
They have a range of tools and services to help make it easier for you, including the business industry code tool and the record keeping evaluation tool.
They're committed to supporting you through the difficult times, if you need some help with your tax or super, phone the ATO on 1800 806 218.
If you’re an employee in the fitness or sporting industry it pays to learn what you can claim.
To claim a deduction for work-related expenses:
- you must have spent the money yourself and weren't reimbursed
- it must be directly related to earning your income
- you must have a record to prove it.
You can use the myDeductions tool in the ATO app to keep track of your expenses and receipts throughout the year.
You can only claim the work-related part of expenses. You can't claim a deduction for any part of the expense that relates to personal use.
You can claim a deduction for travel expenses if you travel away from your home overnight in the course of performing your employment duties. This could include expenses for meals, accommodation, fares and incidentals.
You can’t claim a deduction for travel expenses if your employer or another person has paid for these or reimbursed you.
Receiving an allowance from your employer doesn’t mean you can automatically claim a deduction. You need to be able to show you were away overnight, you spent the money, and the travel was directly related to earning your employment income.
You can claim a deduction for tools and equipment you use in earning your employment income, such as exercise equipment.
If a tool or item of work equipment cost:
- $300 or less – you can claim an immediate deduction for the whole cost
- more than $300 – you can claim a deduction for the cost over a number of years (decline in value).
You can’t claim a deduction if the tools and equipment are supplied by your employer or another person.
You can’t claim a deduction for the cost of health and fitness, because these expenses are considered private. This includes:
- gym fees
- the cost of a program specifically designed to manage weight
- the cost of normal food substitutes or the costs of foods for special dietary purposes
- the cost of vitamins, minerals, or sports supplements, such as protein shakes.
You can claim a deduction when you drive:
- between separate jobs on the same day (for example, driving from a gym that you work at to your second job as a football umpire)
- to and from an alternate workplace for the same employer on the same day (for example, between personal training venues or gyms).
You generally can’t claim the cost of trips between home and work, even if you live a long way from your workplace or have to work irregular hours.
If you claim car expenses, you can use the logbook method or the cents per kilometre method. If you use the logbook method, you need to keep a logbook to determine the percentage of work-related use for your car. If you use the cents per kilometre method, you need to provide a calculation of your work-related kilometres and be able to demonstrate that those kilometres were work-related.
You can claim a deduction for the cost of buying, hiring, mending or cleaning certain uniforms that are unique and distinctive to your job.
You can’t claim a deduction for the cost of buying or cleaning conventional or general exercise clothing (for example, active wear, tracksuits and sports shoes), even if you only wear it while performing your employment duties.
You can claim a deduction for self-education expenses if your study relates directly to your current job.
You can’t claim a deduction if your study is only related in a general way or is designed to help you get a new job. For example, you can’t claim the cost of study to enable you to move from being a personal trainer to a myotherapist.
As long as the expense relates to your employment in the fitness and sporting industry, you can claim a deduction for the work-related portion of the cost of:
- phone and internet usage
- union and professional association fees
- sunscreen and other sun protection items if your employment requires you to perform your duties for sustained periods in the sun.
More income and work-related deductions here
Here are some other helpful links for you to use this tax time:
What can you claim? See the PDF here
Find out what you can access with your myGovID - more info
Get ready - second round of cash flow boosts - more info
Am I eligible for Instant Asset write off? - more info
Need payment summary and statement forms? - more info
Monthly reporting for JobKeeper Payments - more info
A handy toolkit for small business - more info