It’s a new financial year, and tax time is upon us. Every year, the Australian Taxation Office (ATO) shares a range of tips and resources to help simplify tax time for teachers and education professionals.
What to claim
From self-education, union fees, school supplies and working-from-home costs – the ATO’s tailored occupation guide (at right) provides a list of common deductions for teachers and school staff. It includes information on the income you’re required to declare, and the records you need to keep.
Keep your receipts
Keeping the right records is essential. The myDeductions tool in the ATO app is useful for storing receipts and keeping track of your records.
When to lodge
The best time to lodge is from late July, when information from employers, banks and health funds has been included automatically online. Most tax returns lodged online take about two weeks to be processed.
More information
Read the ATO guide on deductions for teachers and education professionals