Claiming Tax On Items I've Bought For My Centre

[AronBee]

Hi Lorina,

I just realized tax time is end of the month! I have been working in childcare for 6+ years but wasn't ever too sure of what to claim back on tax.
I work for a privately owned stingy childcare so I had to buy everything for the room e.g paints, smocks, crayons, and children's toys. (I know appalling).
I have probably spent over $500+.

My question is will I be able to claim anything? and what can I claim as childcare Assistant?

TIA

[Lorina]

Yes, tax time is here again!

Of course you can claim on items you have purchased for work and are used for work purposes. To claim work related deductions:

you must have spent the money yourself and weren't reimbursed
it must be related to your job
you must have a record to prove it (there are some limited exceptions)

If you buy tools, equipment or other assets to help earn your income, you can claim a deduction for some or all of the cost.

If the tools are used for both work and private purposes you will need to apportion the amount you claim. If you have a computer that is used for private purposes for half of the time you can only deduct 50% of the cost.

The type of deduction you claim depends on the cost of the asset:

for items that don't form part of a set and cost $300 or less, or form part of a set that together cost $300 or less, you can claim an immediate deduction for their cost
for items that cost more than $300, or that form part of a set that together cost more than $300, you can claim a deduction for their decline in value

Ref: ATO - Tax Deducations

So, basically if you deductions are over $300 you have to have a receipt as proof of purchase...

Hope this helps,

,
Lorina

[Lorina]

Also, it's best to check with your accountant...

,
Lorina