I need to wear specific clothing for work, what can I claim on my tax return?

You can claim for clothing that is specific to your occupation, is not everyday in nature and allows the public to easily recognise your occupation – such as the checked pants a chef wears. You can’t claim the tax returns on the cost of purchasing or cleaning clothes you bought to wear for work that are not specific to your occupation, such as a bartender’s black trousers and white shirt, or a suit.

How much does it cost to register a company?

The total fee is $888 which includes all government fees, our service fee and GST. The ASIC registration fee is $463 and our service fee, inclusive of GST, is just $425. For $425 you get the professional advice before, on and after your business registration, Free ABN and GST setup, and also having all your company documentation such as consents, share registry, opening minutes etc. prepared and email to you. For an optional $88 extra One Minute Tax will also print, bind and post your documentation. For optional $49 extra One Minute Tax will also provide a common seal for your company. ASIC also charge an annual fee on the anniversary date of registration, ie if you registered a company today the annual fee would be payable in one years time. Annual fees vary depending on the type of company, they can be viewed on ASIC website.

Tax Calculator

If you are wondering how much tax refund you can get at the end of financial year, why not use our free income tax calculator below.

Here is how you can use One Minute Tax’s free, easy-to-use, accurate income tax calculator to calculate the tax refund you could receive after tax deductions.

1. Income

Employment Income*

Reportable Employer Conntribution

Other Income

Tax Withheld*

Reportable Fringe Benefit

2. Liabilities & Deductions

HECS/HELP Debt

Estimated Tax Deduction

3. Result

Firstly, find out the gross income from your Mygov Income Statement. To view your Income Statement, you need to sign in to you Mygov account, then click “View my income statements”, enter the number showing on the income column into Your gross annual income before tax field from our tax return calculator, then copy the figure Under Tax column from Mygov into Your total tax withheld field.

Secondly, if you have reportable employer super contributions or fringe benefits in your income statement, put the amount into the respective fields on our tax return calculator.

Thirdly, calculate your other income. Other income may include but not limited to Centrelink income (such as Newstart Allowance, JobSeeper Payment, Parental Payment, Pension Payment), Bank interest, Dividend income, trust distribution income, ABN income, rental income.

Fourly, work out your total deduction. Your total work related deduction may include work related travel, laundry, self education, home office expense, mobile and internet work related usage, membership, subscriptions, donation, tax agent fee etc.

Lastly, confirm the total HELP/HECS debt balance if applicable and enter the amount into the last field.

If you are unsure about what deductions can be claimable, please don’t hesitate to contact our accountant at One Minute Tax.

Our free tax refund estimates calculator is updated every year in conjunction with the Australian Taxation Office’s Pay As You Go (PAYG) schedules. If you want to find out more about the ATO’s tax rates, please visit ATO website here.

Please be mindful that our tax calculations are only estimates. To lodge your tax return with us and we will maximize your tax deductions for free! Call 03 8899 7506 and let our tax accountants to help you get more tax refund than your estimation. You can also use our online appointment tool below to make an appointment with our tax accountants or start your tax return online now.

Remember, our free tax estimate calculator or any other ATO tax calculator or income tax calculator in Australia will only give you a rough estimate based on your input, but will not give you any tips of how to maximize your tax refund or reduce your tax liabilities. At the end, it’s the ATO’s job to collect revenue, not help you get a better refund.

Therefore, it is risky to rely on an simple tax calculator. The better solution here is to use the tax calculator to get an estimate figures, then jump on to our online tax return page to get your tax refund started with one of our friendly accountant, one of our accountant will call you to help you maximising your tax refund.

Note: If the estimated return is a minus figure, means that you owe tax to ATO. Don’t worry, contact our tax accountant now to see if we can help you to reduce your tax payable to ATO.