The Australian Taxation Office (ATO) has some top tips for navigating tax time.
While you can’t claim your new protein powder or gym clothes, you may be able to claim some equipment or the cost of cleaning specific work uniforms. Check out the tax time guide for the fitness and sport industry to work out what you can and can’t claim this tax time. COVID-19 threw a curve ball on the fitness industry and as a result your income and deductions might be a little different this year. If you received a COVID-19 support payment, the tax treatment varies so make sure you visit the ATO’s quick guide to find out which COVID-19 support payments you need to include in your tax return. And don’t forget that COVID-19 tests you purchase for work purposes are now tax deductible. You can claim a deduction for COVID-19 tests you paid for from 1 July 2021 as longs as you:
- used the test for a work-related purpose
- had a qualifying COVID-19 test, such as a PCR test or a rapid antigen test
- have a record of your purchase
- paid for the test yourself and were not reimbursed for the cost by your employer.
Tax doesn’t need to be as exhausting as leg day. If you need some help completing and lodging your tax return and your income is around $60,000 or less, you may be eligible for the ATO’s free Tax Help program. Support can be provided online, by phone or in person.