COVID-19 significantly affected teachers and education professionals especially across Victoria with home-schooling becoming the new norm. During this extraordinary time, our local CLY Tax Accountants Forest Hill can assist you in preparing and lodging your tax return if you are working in these sectors.
Income to Report
Your annual income year statement or payment summary will show all salary, wages and allowances you received. You will also need to consider any other income earned for part-time or casual work in the financial year.
Work Related Deductions
As the nature of your work, you may be entitled to claim some deductions for your work. Followings are some of these common deductions provided by our CLY Tax Accountant Forest Hill.
- Clothing and uniform expenses: the clothing with your school logo can be claimed as well as the laundry expense.
- Books, journals and professional library: the teaching materials (e.g., textbooks, technical or professional publications) that you need for your work.
- Home office expense: if you have to work from home due to home-schooling caused by COVID-19, you may be eligible to claim home office running expenses such as, electricity & gas, internet and work-related phone expenses.
- Union and professional association fees: if you have paid membership fees for any education related association or professional body (e.g., AEU), you can claim the cost incurred.
- Teacher registration fee: the annual fee paid to VIT to keep your teacher registration status active.
- Super contribution: if you have made any extra voluntary contributions to your super (e.g., UniSuper), you can elect to make some or all contribution tax deductible. Our financial advisers from CLY Financial Planning could also help you with super, insurance or retirement planning advice if required.
CLY Tax Accountant Forest Hill is equipped with a lot of practical experience in preparing tax return Forest Hill for employees working in education industry. For more details and information, please contact CLY Tax Accountants Forest Hill. We are happy to help you with all your accounting and tax related needs.