Photographer Working under TFN - What Can I Claim on Tax?

CryssieJade on 07/06/2019 - 18:31

Hi everyone! I'm a working Photographer, working under my TFN. What can I claim on tax?

I have earned more this financial year than any other, and have racked up a lot of tax - so I am wanting to reduce my taxable income as much as possible. And no, I do not fall under the low income threshold.

Just some general advice will do. I've never had an accountant, and trying to figure out if it's worth getting one, since my tax affairs are very simple and I have always done my tax myself. I don't know what more I can claim apart from conferences, self education, laundry, travel, magazines, etc. Anyone in a similar boat? Thanks in advance

Financial Income Tax Return

Comments

  • Baysew on 07/06/2019 - 18:37
    +5

    It may be well worth getting your Tax done by a Tax accountant. The fee is tax deductible.

    Whilst you have mentioned things that are deductible, the problem can be are they actually legitimate in your case.

    • CryssieJade on 07/06/2019 - 19:50

      Yep, they sure are. I told a bit of a lie before - I have had an accountant fill out one tax return in my life. And they claimed all the same things I had ever claimed. That's how I knew I was doing it right. Didn't bother paying one again after that.

  • [Deactivated] on 07/06/2019 - 19:19

    Laundry? Funnily enough if you photograph porn, laundry just might be deductible. Maybe if you do wedding photography dressed in a suit. It really would have to be a uniform or specialised occupational clothing, otherwise it's a stretch.

    Obvious question is why aren't cameras and equipment your main deduction?

    • CryssieJade on 07/06/2019 - 19:48

      Well, I claimed a lens last year and got flagged by the ATO - apparently the average deductions claimed by photographers under a TFN is $600, and my lens was $2500. I don't know a photographer alive that only claims $600 worth of deductions, so I'm stumped. When I called the ATO to ask questions and tell them what I had claimed to cause the flagging, they told me not to worry about it and never bothered me again.

      And yes, my uniform has a company logo.

      • Quantumcat on 07/06/2019 - 20:02
        +3

        You might have been supposed to claim depreciation over a few years rather than claim the lump sum

        • CryssieJade on 07/06/2019 - 21:01

          Ahhhhh, that's most likely it. A couple of people told me that I can't claim equipment under my TFN, but I know that's incorrect. Depreciation makes so much more sense, because that's what you do for ABN claims too

      • Gandalf the Thrifty on 07/06/2019 - 23:05

        Read that laundry costs on ATO hitlist this year so make sure yours is the correct amount (or not outside norm of your profession)

  • serpserpserp on 07/06/2019 - 20:18

    I don't know what more I can claim apart from conferences, self education, laundry, travel, magazines, etc.

    Well you should be claiming your equipment like cameras, lens and computer, mobile etc. and consumables (if you print stuff out or provide USBs etc.) Probably straight line over 3 years is the right way to go, there are example on the ATO website you can use. I would also ask this question in specific photographer forums which you can google (i'm sure similar questions have been asked before).

    On the iffy side, if you do photography for a specific industry, say fashion, or motor vehicles, maybe for music/arts etc. If you have foxtel you can also claim a portion of that as self education for keeping up with current trends etc. (You should also be claiming a portion of your fixed internet if you use it for work).

    If you are working from a home office, should be able to claim a portion of utility expenses there too.

    You mentioned Laundry, unless you have created a specific uniform for your workplace, I would suggest not claiming this as the ATO are apparently cracking down on it this year.

    The more I think about it, the more a photographer has it pretty great on the deductions side of life!

    • CryssieJade on 07/06/2019 - 20:59
      -1

      Everything you've said is how to claim under an ABN.
      I'm claiming under a TFN. Apparently very different deductions.

      • serpserpserp on 07/06/2019 - 21:11

        So you work for someone else's business as an employee?

        If you don't, you should have an ABN?

        • CryssieJade on 07/06/2019 - 21:11

          Correct. I work for another company as an employee, under my TFN.

          • serpserpserp on 07/06/2019 - 21:14
            +1

            @CryssieJade: So everything above still applies unless you are supplied with camera's/equipment from your workplace.

            All the home office stuff doesn't apply if you do zero work at home.

          • Donaldhump on 07/06/2019 - 22:01

            @CryssieJade: Why don’t they supply u with the equipment needed.

            • CryssieJade on 07/06/2019 - 22:26

              @Donaldhump: They supply most of my equipment. But there are many other expenses I can claim. I was curious to know what other photographers in my situation have claimed.

  • Donaldhump on 07/06/2019 - 21:58

    You wear a uniform with logo?
    Electricity, computer, you can claim anything u needed to do your job.
    Get an accountant,

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