Tax Guide - nteu.org.au/tax 2020-21 - National Tertiary Education Union
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Tax Guide 2020–21 nteu.org.au/tax
NTEU TAX GUIDE 2021 Contents ATO Focus 2021............................................................... 1 Tax rates for 2021............................................................ 1 NTEU National Office Income Tax Rates (Residents) 2020/21 1 PO Box 1323, South Melbourne VIC 3205 Income Test Thresholds for 2020/21 1 Ph: (03) 9254 1910 HELP repayment rates 2020/21 1 Fax: (03) 9254 1915 Low Income Tax Offset (LITO) 2 national@nteu.org.au Low and Middle Income Tax Offset (LMITO) 2 www.nteu.org.au Medicare levy low income thresholds 2 Small Business Tax Offset 2 COVID-19 Support Measures......................................2 Rental Properties 2 Individuals 2 Changes for 2022 & Beyond........................................3 Proposed Personal Income Tax Rates 3 NSW & National The Tax System...............................................................3 Ph: (02) 8006 5020 Who needs to lodge a return? 3 Fax: (02) 4210 8682 (central fax system) Record Keeping 3 Victoria Self-Assessment 3 Ph: (03) 9014 9590 Self-Lodgement 4 WA Using a Tax Agent 4 Ph: (08) 6102 0560 Income...............................................................................4 Salary & Wage Income 4 info@teachertax.com.au Government Income 4 www.teachertax.com.au Investment Income 5 Other Income 5 Deductions........................................................................5 Car Expenses 5 Clothing 5 Donations & Gifts (incl School Bldg Funds) 5 Excursions, School Trips & Camps 6 Home Office 6 Insurance 6 Rental Property Expenses 6 Self-Education Expenses 6 Tax Returns 7 NTEU Tax Guide 2021. 21st edition. Published by NTEU. Teaching aids 7 Written by Teacher Tax. Travel Expenses 7 All rights reserved ©2021. ISBN 978-0-9946377-1-0. Union and Professional Association Fees 7 Online version at www.nteu.org.au/tax Authorised by Matthew McGowan, General Secretary, Rebates and Offsets........................................................7 National Tertiary Education Union, 120 Clarendon St, Invalid Carer Tax Offset 7 Southbank VIC 3006. Low Income Tax Offset 7 Cover image: Unblast Private Health Insurance Rebate 7 This guide has been prepared for information only. Senior Australians and Pensioners Tax Offset 7 Australian Tax Legislation is a complex body of law and members should seek qualified tax advice for their personal Zone Tax Offset 7 situation. While every effort has been made to ensure that the information in this guide is accurate, Teacher Tax carries Where to find your NTEU Tax Statement...............7 no responsibility for its application. The advice given is to be considered general. Information in italics has been directly Do your tax NOW!...........................................................8 sourced from Australian Government websites. Questionnaire..................................................................8
NTEU TAX GUIDE 2021 P. 1 ATO Focus 2021 Tax rates for 2021 The ATO has more and more data matching capabilities each year. Due to this many errors can be made by taxpayer’s Income Tax Rates (Residents) 2020/21 lodging their tax return too early. The ATO is encouraging Taxable income Tax Rate lodgement after the end of July when most prefilling data is included. Payment summary information can be accessed via $0 – $18,200 Nil MyGov or through your tax agent. Employers need to have $18,201 – $45,000 19c for each $1 over $18,200 payment summaries tax ready by 14 July (for business with $45,001 – $120,000 $5,092 20 employees or more) or by 31 July (for businesses with 19 plus 32.5c for each $1 over $45,000 employees or less). $120,001 – $180,000 $29,467 This year the ATO will be focusing on higher than expected plus 37c for each $1 over $120,000 work-related expenses. $180,001+ $51,667 A taxpayer needs to make sure they spent the money plus 45c for each $1 over $180,000 themselves and were not reimbursed, the expense was directly related to earning their income and they have a receipt or Income Test Thresholds for 2020/21 record to substantiate it. If the expense is for work and private use, they can only claim a deduction for the work-related Base Tier Tier 1 Tier 2 Tier 3 portion. Singles $90,000 $90,001- $105,001- $140,001 Many taxpayers have been working from home due to or less $105,000 $140,000 or more COVID-19. Expenses you can’t claim include: Families $180,000 $180,001- $210,001- $280,001 • The cost of coffee, tea, milk and other household items your or less $210,000 $280,000 or more employer may have provided for you at work. Private Health Insurance Rebate premiums paid to 31/3/21 • Costs related to your children and their education, including setting them up for online learning, teaching them at home or Under 65yrs 25.059% 16.706% 8.352% 0% buying equipment such as iPads and desks. 65-69yrs 29.236% 20.883% 12.529% 0% • Time spent not working, such as time spent home schooling 70yrs or over 33.413% 25.059% 16.706% 0% your children or your lunch break. Private Health Insurance Rebate premiums paid after 1/4/21 Due to the difficulties of the 2021 financial year, the ATO Under 65yrs 24.608% 16.405% 8.202% 0% will expect clothing/laundry and travel claims to be down significantly on previous years. So keep the following in mind 65-69yrs 28.710% 20.507% 12.303% 0% when claiming. 70yrs or over 32.812% 24.608% 16.405% 0% Medicare levy surcharge Car Expenses Rates 0.0% 1.0% 1.25% 1.5% While you can claim up to 5,000km without a logbook you still need to be able to substantiate your calculation. You cannot HELP repayment rates 2020/21 claim for travel between work and home, or if you have salary sacrificed car. Adjusted Taxable Income Repayment rate It is advisable to keep a diary containing evidence of trips taken Below $46,620 Nil (date, location, kilometres travelled, purpose) $46,620 – $53,826 1.0% Clothing $53,827 – $57,055 2.0% To be claimable clothing must be either: $57,056 – $60,479 2.5% • Occupation specific (such as for a nurse). $60,480 – $64,108 3.0% • Protective (such as steel cap boots or a high vis vest) . $64,109 – $67,954 3.5% • A uniform (with logos or made specifically for the business). $67,955 – $72,031 4.0% If you happen to wear everyday clothes to work such as black $72,032 – $76,354 4.5% trousers and a white shirt you cannot claim the clothes or the $76,355 – $80,935 5.0% cost of cleaning them. $80,936 – $85,792 5.5% Laundry $85,793 – $90,939 6.0% Can only be claimed on deductible clothing as listed above. $1 $90,940 – $96,396 6.5% per load if it only contains clothing you wear at work from one of the categories above. $96,397 – $102,179 7.0% 50c per load if you mix personal items of clothing with work $102,180 – $108,309 7.5% clothing from one of the categories above. $108,310 – $114,707 8.0% $114,708 – $121,698 8.5% $121,699 – $128,999 9.0% $129,000 – $136,739 9.5% $136,740 and above 10%
P. 2 NTEU TAX GUIDE 2021 Low Income Tax Offset (LITO) COVID-19 Support Measures Maximum LITO has increased from $445 to $700. This offset will automatically be claimed in taxpayer’s returns. Rental Properties LITO Landlords who have reduced rent or not charged rent due to 0 – $37,500 $700 COVID-19 may still be able to claim full deductions for expenses without apportioning. $37,501 – $45 000 $700 minus 5c for each dollar over $37,500 Individuals $45,001 – $66,667 $325 minus 1.5c for every dollar over $45,000 You can claim a deduction of 80 cents for each hour you work from home in 2020/21 as long as you are working from home to Low and Middle Income Tax Offset fulfil your employment duties and not just carrying out minimal tasks such as occasionally checking emails or taking calls. You (LMITO) also must have incurred additional running expenses as a result This offset will be available from 2019 to 2022. This offset will of working from home. automatically be claimed in taxpayer’s returns. You must keep a record of the number of hours you have worked from home. And when lodging your tax return you LMITO must include ‘COVID-hourly rate’ as the description for your 0 – $37,000 $255 calculation. When you are calculating the number of hours you $37,001 – $48 000 $255 plus 7.5c for every dollar over worked from home, you need to exclude any time you took $37,000 a break such as lunch or assisting your children with home $48,001 – $90,000 $1080 schooling. The shortcut method doesn’t require you to have a dedicated $90,001 and over $1080 minus 3c for every dollar over work area, such as a private study. The shortcut method covers $90,000 all running expenses including: Medicare levy low income thresholds • Electricity/gas for lighting, cooling or heating and running electronic items used for work (eg your computer). The income thresholds have increased to $23,226 for singles and to $39,167 for families. • The decline in value and repair of capital items, such as home office furniture, including capital items that cost less than For taxpayers eligible for the seniors and pensioners tax offset, $300. the threshold has increased to $36,056. • Cleaning expenses. The family threshold for seniors and pensioners has increased to $51,094. The family income threshold will be increased to • Your phone costs, including the decline in value of the $3,597 for each dependent child or student. handset. • Your internet costs. Small Business Tax Offset • Computer consumables, such as printer ink and stationery. The Small Business Tax Offset has increased from 8% in 2020 to • The decline in value of a computer, laptop or similar device. 13% in 2021 capped at $1000. You don’t have to incur all of these expenses to use the shortcut method, but you must have incurred additional running expenses in some of these categories when working from home. You also don’t have to use the shortcut method. You can choose to use one of the existing methods to calculate your deduction. You can use the method that will give you the best outcome, as long as you meet the criteria and record keeping requirements for each method. For more information visit https://www.ato.gov.au/individuals/ income-and-deductions/deductions-you-can-claim/home-office- expenses
NTEU TAX GUIDE 2021 P. 3 Changes for 2022 & Beyond The Tax System Proposed Personal Income Tax Rates Who needs to lodge a return? From 1 July 2024, the 32.5% bracket will apply to taxable If you have earned income over $18,200 in this financial year, incomes of $45,000 to $200,000, effectively removing the 37% you must lodge a return. If you earned less than this amount but tax bracket entirely. Incomes over $200,000 will be in the 45% had tax withheld from your salary you will also need to lodge top bracket. a tax return. Even if you’re not required to lodge a return it is a good idea to notify the ATO that a return is not necessary. Rate Current Tax Rates Proposed Tax Rates 2024 – 2025 Record Keeping 0% 0 – $18,200 0 – $18,200 As the tax system is self-assessment, it is essential that 19% $18,201 – $45,000 $18,201 – $45,000 taxpayers be able to substantiate their income and expenses. In 32.5% $45,001 – $45,001 – general, records should be kept for a period of five years from $120,000 $200,000 the date you receive your notice of assessment. 37% $120,001 – Records should be kept in such categories as: $180,000 • Payments you have received. 45% $180,000 plus $200,000 plus • Expenses related to payments. • Acquisition or disposal of an asset – such as shares or a rental Private Health Insurance dependent property. The following are proposed changes to the definition of a • Tax deductible gifts or donations. dependent for private health insurance: • Medical expenses. • Increase the maximum age for children to be covered as a dependent person under a family, single parent or dependent If you’re not sure whether or not to keep a record, the best person-only private health insurance policy from under 25 advice is to err on the side of caution. It is better to have too years old to under 32 years old many records than not enough. • Allow children with a disability, regardless of their age and Self-Assessment marital status, to be covered as a dependent person under a family, single parent or dependent person-only private health Australia has a self-assessment taxation system. This means insurance policy. that your return is accepted initially by the ATO as truthful. However, the ATO will check the validity of your claims by data matching and auditing. They use this data to: • Provide pre-filling information to taxpayers and their agents to help them correctly complete their income tax return first time. • Identify discrepancies between information reported by taxpayers in their tax returns against details reported by third parties. • Identify particular non-compliant behaviour within selected target groups, or to conduct risk assessments. • Assist in administration of the relevant legislation with other government departments through data exchange. • Exchange with treaty partners. The responsibilities of taxpayers include: • Be truthful and cooperative in your dealings with us. • Take reasonable care in preparing your tax returns and in keeping your records. • Lodge your documents and pay any amounts payable by the due date. The responsibilities of the ATO: • Treat you fairly and reasonably. • Treat you as being honest in your tax affairs unless you act otherwise. • Offer you professional assistance to help you understand and meet your tax obligations. • Accept you can be represented by a person of your choice and get advice about your tax affairs. • Respect your privacy.
P. 4 NTEU TAX GUIDE 2021 • Keep your information confidential in accordance with the Income law. • Give you access to information we hold about you in In general, income tax is calculated by subtracting allowable accordance with the law. deductions from assessable income. Assessable income can be • Give you advice and information you can rely on. obtained in a variety of ways: • Explain to you the decisions we make about your tax affairs. Salary & Wage Income • Respect your right to a review. Salary and wages are the main forms of payments made to an • Respect your right to make a complaint. employee. Generally they are considered to be payments made • Administering the tax system in a way that minimises your to an individual as remuneration for services, and provided costs of complying. under a contract of service (employment contract). Other • Be accountable for what we do. payments include: • Allowances can be for car, travel or transport, tools, clothing Self-Lodgement or laundry, dirt, site, risk, meal or entertainment or for Tax returns are submitted either by individuals or their tax agent qualifications held e.g. a first aid certificate. to the Australian Tax Office on an annual basis. If you are doing • Any payment received under sickness or insurance policy for the return yourself, it must be lodged by 31 October. The ATO loss of income is usually considered assessable. has the power to fine the taxpayer up to $180 for every 28 days • Certain lump sum payments in respect of unused annual the return is late to a maximum of $900. Interest on any tax leave and long service leave are entitled to concessional tax payable may also be charged. Our advice is to get it in on time treatment when you terminate your employment. That is and save the stress and hassle. why the amounts are separately recorded on your payment The return is assessed by the ATO and you are issued with a summary and separately recorded on your tax return. We Notice of Assessment. suggest that you obtain professional advice if you have any The Notice of Assessment will summarise your taxable income lump sum payments labelled A B C D or E on your payment for the year. It may include a tax refund or an amount payable. summary. • Eligible Termination Payment (ETP) is a lump sum payment Using a Tax Agent paid by an employer or a superannuation fund. Some of these If you lodge through a Tax Agent, you may be able to avail payments receive concession tax treatment up to certain yourself of the general extension of time granted to Tax Agents limits called caps. Areas include resignation, age retirement, (usually 31 March of the following year). To avoid penalty redundancy, dismissal, death of an employee. however, you must be registered as a client with a tax agent by 31 October. Government Income Other advantages of using a Tax Agent include: Assessable government payments include: • A quicker turnaround for refunds. • Age pension • A thorough and professional check to ensure all information • Newstart allowance is correct. • Youth Allowance • Advocacy in the case of audit / dispute. • Austudy payment • Tax planning to reduce tax. • Parenting payment (partnered) • Partner Allowance • Sickness Allowance • Special benefit • Widow Allowance • Farm household allowance • Interim income support payment • The following payments if you are 16 or older • Abstudy living allowance • Payments under the Veterans’ Children Education Scheme • Payments under the Military Rehabilitation And Compensation Act Education and Training Scheme 2004 (MRCA education allowance) • Other taxable Australian Government education or training payments • Community Development Employment Project (CDEP) payments • Disaster recovery allowance
NTEU TAX GUIDE 2021 P. 5 Investment Income Deductions Rental income Deductions are allowable expenses or outgoings that have been When you rent out your property. The rental income must go on incurred in earning any assessable income. An expense must be the tax return of the taxpayer whose name appears on the title incurred, that is either paid, or definitely committed to be paid, deed of the property. This is most often a 50% spilt between such as holding the invoice. You must have written evidence to two taxpayers. prove your claims if your total claims exceed $300. Deductions can include the following items. Dividend income Including dividends paid directly to you, dividends applied Car Expenses under a dividend reinvestment plan, dividends that were dealt Using your car for work purposes can be claimed as a deduction. with on your behalf and bonus shares that qualify as dividends. It does not include travel between work and home. You can claim for travel between two separate workplaces, or between a Interest income workplace and a place of business. Can include interest the ATO credited tax account with. It also includes money received from financial institution accounts and Method 1 – Cents per kilometre term deposits. NB If you operated an account for a child and You can claim up to 5,000 business km per car. The rate of the funds in that account belonged to you, or you spent or used 66c per km is applicable for all cars. You do not need written the funds in the account as if they belonged to you, you must evidence as such but you need to be able to show how you include any interest from the account. calculated your claim. Other Income Method 2 – Logbook Business income may include earnings from your operation You claim the business percentage of costs associated with through a Sole Trader, Partnership, Trust or Company structure. running your car. You need to record odometer readings and you need evidence of all costs except fuel. The ATO makes a distinction between what is considered a business and what is a hobby. There are certain tests that must be satisfied in order to gain treatment as a business (e.g. the Clothing ’business’ must make a consistent profit). You can claim the cost of clothing if it falls into one of the Capital Gains income could include any capital gain or capital following categories: loss on the disposal of certain assets. Reasons leading to a • Protective (eg a hi-vis jacket or lab coat). possible event can include: • Occupation specific (eg a nurses uniform) and not a • An asset you own is lost or destroyed (voluntary or conventional, everyday piece of clothing such as jeans involuntary). or general business attire (n.b. sports clothes, swimming • You give an asset away. costumes and running shoes are considered conventional clothing). • You enter into an agreement not to work in a particular industry for a set period of time. • A uniform either non-compulsory and registered with AusIndustry or compulsory. • Shares you own are cancelled, surrendered or redeemed. Laundry claims are not an automatic $150 deduction. You need • A liquidator or administrator declares that shares or financial to be able to show how you came up with the total of your instruments you own are worthless. laundry expense claim. A reasonable basis for working out your • You grant an option to someone to buy an asset that you own. laundry claim is: • You receive a non-assessable payment from a unit trust or • $1 per load if it only contains clothing you wear at work from managed fund. one of the categories above • You dispose of a depreciating asset that you used for private • 50c per load if you mix personal items of clothing with work purposes. clothing from one of the categories above. • You stop being an Australian resident. Also, you are allowed to claim for sun protection such as This is a complex area of tax law and we recommend you Sunscreen, Sunglasses and Sunhats if you are required to work consult a tax professional. outside. Donations & Gifts (incl School Bldg Funds) Donations must meet certain conditions. They must be made to a Deductible Gift Recipient – a list of such organisations can be found at www.abn.business.gov.au. Gifts can include: • $2 or more. • Property purchased during the 12 months before making the gift. • Listed shares valued at $5,000 or less. • Trading stock disposed of outside the ordinary course of business.
P. 6 NTEU TAX GUIDE 2021 • Cultural gifts Program. purpose and reasons for undertaking such an inspection; e.g. • Heritage gifts. expenses associated with prior visit of a venue to ensure that it meets safety requirements are allowable. However, if a teacher Examples of payments that are not gifts include: visits a venue privately then decides that it would make a good • Purchases of raffle or art union tickets. excursion venue, the private visit expenses are not claimable. • Purchases of chocolates, pens etc. • The cost of attending fundraising dinners, even if the cost Home Office exceeds the value of the dinner . When you carry out work activities from your dedicated home • Membership fees. office, you can claim the heating, cooling, lighting and cleaning • Payments to school building funds as an alternative to an as well as the decline in value of and repairs to your home office increase in school fees. furniture and fittings. • Payments where the person has an understanding with the The ATO has set a fixed rate of 52 cents per hour for these office recipient that the payments will be used to provide a benefit expenses. You need to keep a diary of hours spent working from for the donor. home to substantiate your calculation. Contributions to school building funds can also be deductions. Insurance The ATO states that a school building fund has the following characteristics: Income Protection Insurance not paid through your Super Fund is claimable. • The fund is a public fund. • The public fund is established and maintained solely Rental Property Expenses for providing money for the acquisition, construction or maintenance of a building. You can claim expenses relating to your rental property but only for the period your property was rented or available for rent – • The building is used, or is to be used, as a school or college, by e.g. advertised for rent. a government or a public authority, or a non-profit society or association. Expenses could include: n.b. A deduction is not allowable for purchasing gifts for other • Advertising for tenants teachers or students: • Bank charges ‘Teachers may outlay their own money to supply items to • Body corporate fees students for their own individual needs (e.g. books and uniforms); • Borrowing expenses purchase gifts for students (e.g. Christmas gifts); purchase food • Council rates and drinks for special occasions (e.g. student birthdays) and replace money lost by students (e.g. money for bus fares and • Decline in value of depreciating assets lunch). While employee teachers may feel a moral, personal or • Gardening and lawn mowing social obligation to outlay these expenses, there is no connection • Insurance between the expenditure incurred by the employee teacher and • Land tax producing assessable income.’ • Pest control Excursions, School Trips & Camps • Property agent fees or commissions The trips MUST be related to the curriculum or extra-curricular • Repairs and maintenance activities. Factors determining relevance would include the • Stationery purpose of the trip, the activities undertaken, and the duties of • Telephone the teacher. For example, a teacher accompanies a class of school • Water charges students on a day excursion to visit Parliament House as part of the social studies curriculum. The purpose of the trip as well as • Travel costs to inspect the property. the activities have a direct relevance to the curriculum therefore, If only part of your property is rented out, these expenses must all expenses would be deductible. be apportioned. Supervising students alone is not sufficient to make the expenses deductible. For example, a teacher accompanies a group of Self-Education Expenses students to visit their sister school. Half of the time is spent Expenses incurred in completing training provided by a school, at the sister school engaging in social, classroom and sporting college, university or other place of education. You must have activities. Half of the time is spent in tourist activities. The undertaken the course for use in carrying on a profession, trip is open to all students and is not part of the curriculum of business or trade or in the course of employment. any particular course at the school. Even though the trip may It MUST relate to your work as an employee at the time provide social and cultural benefits to the students, the expenses you were studying. The first $250 of these expenses is not incurred by the teacher are not deductible. claimable. Such expenses may include: However, if the trip is not curriculum-related but forms an • Textbooks integral part of the extra-curricular activities and the teacher • Student union fees accompanies students as a representative of the school (e.g. school sporting events or school band competitions) the • Stationery expenses would be allowable. • Course fees The deductibility of expenses incurred to inspect a possible • Travel expenses excursion venue prior to taking the students depends on the • Decline in value of equipment.
NTEU TAX GUIDE 2021 P. 7 n.b. In general, the costs associated with personal motivation Rebates and Offsets seminars are not tax deductible. Whilst they vary from course to course, the ATO’s view is that ‘the material covered is Tax offsets (or rebates) directly reduce the tax payable. Usually, too general to be classed as relating specifically to income- tax rebates can only reduce your tax payable to zero, with the producing activities.’ exception of franking and private health insurance. Tax Returns Invalid Carer Tax Offset The cost of managing your tax affairs is a tax deductible expense If you maintained a dependent invalid relative you may be in the year that it is incurred (e.g. this year, you can claim last entitled to a tax offset depending on your adjusted taxable year’s costs). These expenses must relate to a qualified tax income. advisor. They can include the preparation and lodgement, advice, costs of travel to and from the advisor and obtaining Low Income Tax Offset reference works. You may be eligible for a tax offset if you are a low-income Teaching aids earner. You don’t have to claim this offset. The ATO will work it out for you when you lodge your tax return. The offset can Items purchased must have a direct and relevant use in carrying only reduce the amount of tax you pay, it does not reduce your out your duties. Examples include: Medicare levy. • Pens, pencils, markers/highlighters, stamps, stickers, paints, stationery, posters, maps, laminating. Private Health Insurance Rebate • Storybooks, jigsaws, games, toys used by early childhood, If you have private health insurance, you are entitled to a tax primary school or special education teachers. rebate. Most people claim this throughout the year in the form • Items used in cooking or sewing classes or science of a premium reduction. experiments. • Prizes purchased to reward achievement and encourage Senior Australians and Pensioners Tax students. Offset • Entrance fees for school excursions. The pensioner tax offset and the senior Australians tax offset • Whistles and stopwatches used by physical education have been combined to form the seniors and pensioners tax employee teachers. offset (SAPTO). • Calculators/calculator batteries. Zone Tax Offset • Maintaining classroom or school pets. If you live and work in a remote area you may be entitled to the Travel Expenses zone offset. If you have to travel away for work, then certain expenses may be deductible which may include: • Air, bus, train, tram and taxi fares • Bridge and road tolls • Parking • Car hire fees • Meals • Accommodation. If a travel allowance is received and the amount of the claim Where to find your NTEU Tax for expenses incurred is no more than a reasonable amount, substantiation is not required. If the deduction claimed is Statement more than the reasonable amount (rates outlined by the ATO depending on travel location) the whole claim must be If you pay your fees via direct debit, credit card substantiated, not just the excess over the reasonable amount. or invoice If the dominant purpose in incurring the cost is the attendance Your Tax Statement can be accessed via your online Member at the conference or seminar then the existence of any private Tools page. Login in at www.nteu.org.au/members and select activity would be merely incidental and the cost would be fully ‘Print Tax Statements’ in the Payments box. Please note that deductible. If the attendance at the conference or seminar is statements will not be mailed out. only incidental to a private activity (e.g. a holiday) then only If you pay your fees via payroll deduction the costs directly attributable to the conference or seminar is allowable deduction. The cost of accommodation, meals and Membership fees will appear on the PAYG summary supplied travel directly relating to the private activity is not allowable. by your employer. Contact your Payroll Department for any inquiries. Union and Professional Association TAFE members and ex-members Fees Tax statements will be sent to your home address in early You can claim the cost of being a member of a Union or July. Association. See p. 9 for where to find your NTEU Tax Statement.
P. 8 NTEU TAX GUIDE 2021 Do your tax NOW! Let us help you lodge your tax return. Our tax service was designed BY teachers FOR teachers. We will access your income details with the ATO and then we just need to add in your work-related expenses. We can correspond by email or phone if you prefer. Your refund will be deposited into your bank account within *14 days (*ATO processes 94% in 14 days). Our fee is only $110 (incl GST) for a standard return, which is deducted from your refund. NTEU members receive a 10% discount. Email: info@teachertax.com.au Phone: (02) 8006 5020 Fax: (02) 4210 8682 We just need the following details to act as your agent and get started: Full Name Date of birth Tax File Number Address Phone Email Signed Client _______________________________________________________ Date ___________________ Please complete the questionnaire below... Questionnaire Do you have a spouse or de facto? (If yes, please supply name, date of birth & approximate taxable income) Do you have dependents? (If yes, how many?) Do you have Private Health Insurance? Do you have a HELP debt? Income How many payment summaries are you expecting? If you receive an allowance on your payment summary what is it for? (e.g. travel) Do you receive any Government pensions or allowances? Do you have any savings which earns bank interest? Do you have any shares that receive dividends? Do you earn any business income? Do you own a rental property? Continue questionnaire overpage...
NTEU TAX GUIDE 2021 P. 9 Deductions D1 Use of your own car for Estimate of kilometres work travel (not to and up to 5,000km from work) D2 Travel not reimbursed by Accommodation your school Flights Car Hire Public Transport D3 Work clothing School Logo or $ Protective D4 Self-education (must Course Name be a link between the Institution course and your current employment) Course Fees $ Textbooks $ Travel $ Books and Journals $ Computing (< $300) $ Computing (> $300) $ Purchase date Description Home Office (hours spent working from home each week) Internet (monthly cost) $ % work use Memberships $ Phone (monthly Cost) $ % work use Seminars $ Stationery $ Subscriptions $ Sun Protection (Hat, $ sunglasses, sunscreen) Teaching aids, resources $ Teacher registration $ Union Fees $ Working with Children $ check D9 Donations $ D10 Tax Affairs (Cost of getting $ your tax done last year) D15 Other Income Protection $ Insurance
nteu.org.au/tax
You can also read