Bank details don’t update themselves:
While the ATO receives information from banks, this doesn’t extend to updating details for the bank account you nominate to have your refund deposited into. Many people forget to update bank details and delay their refund.
It’s not okay to double dip:
Some taxpayers may double dip by claiming their working from home expenses using the all-inclusive shortcut method while also claiming for specific items such as laptops or desks.It’s important to remember that if you’re claiming under the shortcut method, you cannot claim a separate additional deduction for any expenses you incur as a result of working from home
Home to work travel is not claimable:
Generally, most people cannot claim the cost of travelling from home to work unless you are required by your employer to transport bulky tools or equipment and there is not a safe place to store these at your workplace.If you are working from home due to COVID-19, but need to travel to your regular office sometimes, you still cannot claim the cost of travel from home to work as these are still private expenses.
You can’t just claim $300 or $299 if you had no expenses:
Often people claim a deduction despite not purchasing anything because they thought everyone is entitled to claim $300.While you don’t need receipts for claims of expenses up to $300 but you must have actually spent the money and be able to show the ATO how you worked out your claim.
Work-related expenses need to be work related:You can only claim for expenses that are directly related to earning your income. If you are in a job that require physical contact or close proximity to customers and had to buy your own hand sanitiser, gloves or masks for use at work, that they can claim these items. For example, people who are working from home can’t claim these items and a high work from home claim together with a large claim for protective items may trigger a red flag and slow down your return.
People also cannot claim for the costs of setting their children up for home schooling. These costs are private expenses.
Lodging earlier doesn’t always mean getting your refund earlier:
Each year the ATO automatically includes information from employers, banks, private health insurers (and this year JobKeeper for employees and JobSeeker amounts) in people’s returns. For most people this information is ready by the end of July.
Since leaving out income can slow your return down, if you are lodging before we have automatically included this information for you, it’s really important that you ensure you include all of the information.
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