GYTBO is commited to making the most of your hard earned by maximising your tax refund! Have a look at the 8 helpful tax tips below to see how you can be tax happy!

8 helpful tax tips to maximise your tax return

  1. To make a deduction, you need to have incurred the expense while earning your assessable income, and it must not be a private, domestic or capital expense.

  2. Vehicle or other travel expenses need to be directly linked to your work; unfortunately you can't claim for trips between home to work and vice-versa as the ATO views this as private travel.

  3. Yes you can claim your clothing, laundry and even those ugly non-slip shoes your work makes you buy. The key to claiming these is they need to have your company logo or be occupationally specific. Which means, unfortunately, that the ATO will generally not accept CUE or Hugo Boss as company or occupationally specific clothing.

  4. Gifts and donations. Helping people helps you! Just remember to keep your receipt or if it is a direct debit the bank has already done that for you!

  5. Working from home? Did you know you can actually claim for the use of your phone to call clients, the laptop you use to reply to the 100's of emails you didn't get to before leaving the office and even the utilities you use at .45c per hour to keep you warm while you finish that imperative proposal at 12am!

    maximising tax refunds with GYTBO

  6. The interesting thing about tax is that you can claim the interest on money you borrow to receive income like that investment property or share portfolio.

  7. If you buy tools, equipment and other assets to help earn income, you can be entitled to a deduction for depreciation of the asset.

  8. Are you smarter than the average bear!? If you are engaged in further qualifications needed to do your job you can also claim a deduction for this. Unfortunately, according to the ATO rules, you must already have the job to claim the deduction. So no, you can’t claim a pilots course if you are a plumber; unless you need to fly the plane to do plumbing... there is always an exception to the rule!

GYTBO is confident in getting you the maximum tax return possible! So get your tax back the easy way with GYTBO's easy to fill out form, making everyone tax happy in just 15 minutes!

Get Your Tax Back Now!