Save
The professions clawing the most back at tax-time
New analysis of tax data has revealed the professions claiming the most deductions, and accountants don’t even make the top three.
The professions clawing the most back at tax-time
New analysis of tax data has revealed the professions claiming the most deductions, and accountants don’t even make the top three.
According to Etax.com.au’s analysis of Australian Taxation Office (ATO) data, surgeons are claiming the most tax deductions by far, with teachers rounding out the top 10.
“One reason for this is that surgeons generally aren’t reimbursed for any of their many, many expenses by their employer,” senior tax agent Liz Russell said.
“This means all those expenses can generally be claimed on their return instead.”
Real estate agents, the second-biggest claimers, asked for an average deduction of $8,616 – significantly less than surgeons’ $21,184.
Ms Russell said real estate agents’ reasons for claims were similar to surgeons; work-related expenses that go unpaid.
“This includes the financial demands of their work, such as car maintenance, licencing fees and incidental out of pocket costs, that are all deductible,” she said.
The tax agent added that all occupations have their own rules, with no guarantees as to a minimum refund.
As such, deductions come down to awareness of individual eligibility and good record-keeping.
“Smart workers are the ones who have a good system for recording expenses and they use a tax agent to get all that added the right way to their tax return. Any expenses that are truly work-related and necessary can be claimed as a tax deduction. It’s important to seek guidance on what is relevant to your specific industry, role and income,” Ms Russell said.
However, she added that it’s critical workers don’t try to get “creative” with claims, as an ATO examination can be painful for those who haven’t kept good records.
Who’s claiming the most?
| Occupation | Average deduction claim |
| Surgeons | $21,184 |
| Real estate agents | $8,616 |
| Lawyers |
$6,861 but heavily skewed by high income earners Up to $180k avg = $3,411 Over $180k avg = $10,901 |
| Truck drivers | $5,058 |
| Tradies | $4,998 |
| Farmers | $4,450 |
| Engineers | $4,177 |
| Vets | $3,468 |
| Accountants | $3,169 |
| Teachers | $3,172 |
Tax saving
Students should think twice before tapping into their super
Former students might want to think carefully before they look to take advantage of the federal government’s biggest first home buyer incentive. ...Read more
Tax saving
Advocates call for an end to tax cuts
Social services sector advocates have warned that further tax cuts may make solving Australia’s biggest challenges much harder. ...Read more
Tax saving
ATO and AUSTRAC may gain new phone-tapping powers
A proposed update to electronic surveillance legislation could see the ATO armed with new powers that would allow the agency to bug phones and intercept online communications. ...Read more
Tax saving
Over 2m Aussies asked the TPB for help during the last year
As the economy recovers, Australia’s tax regulator says it’s planning to put unregistered practitioners under the microscope. ...Read more
Tax saving
Will you pay higher taxes due to bracket creep?
Bracket creep will see Australians paying more tax on average, unless further cuts are introduced in the future. ...Read more
Tax saving
10 ways to reduce your tax bill
With the tax return deadline only one month away, these tips could help minimise your tax bill. ...Read more
Tax saving
Sustainable tax conditions only way forward: OECD
The Australian economy had been on a 28-year winning streak of uninterrupted growth before the pandemic. However, despite a return to lockdowns, the OECD has predicted that winning ways can return sh...Read more
Tax saving
ATO issues warning over new gift card scam
The Australian Taxation Office (ATO) is warning victims of a new phone scam, where scammers are pretending to be the tax man and demanding payments for unpaid tax liabilities. ...Read more
Wrapping up an eventful 2021
Listen now
What Omicron means for property, and are units right for first-time buyers? What is equity crowdfunding? Are industry super funds tapping into member funds to save their skins?
Listen now
Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products?
Listen now
Who really benefits from crypto ETFs? How will the RBA respond to rising inflation? Could a mandate help address unpaid super?
Listen now
Tax saving
Students should think twice before tapping into their super
Former students might want to think carefully before they look to take advantage of the federal government’s biggest first home buyer incentive. ...Read more
Tax saving
Advocates call for an end to tax cuts
Social services sector advocates have warned that further tax cuts may make solving Australia’s biggest challenges much harder. ...Read more
Tax saving
ATO and AUSTRAC may gain new phone-tapping powers
A proposed update to electronic surveillance legislation could see the ATO armed with new powers that would allow the agency to bug phones and intercept online communications. ...Read more
Tax saving
Over 2m Aussies asked the TPB for help during the last year
As the economy recovers, Australia’s tax regulator says it’s planning to put unregistered practitioners under the microscope. ...Read more
Tax saving
Will you pay higher taxes due to bracket creep?
Bracket creep will see Australians paying more tax on average, unless further cuts are introduced in the future. ...Read more
Tax saving
10 ways to reduce your tax bill
With the tax return deadline only one month away, these tips could help minimise your tax bill. ...Read more
Tax saving
Sustainable tax conditions only way forward: OECD
The Australian economy had been on a 28-year winning streak of uninterrupted growth before the pandemic. However, despite a return to lockdowns, the OECD has predicted that winning ways can return sh...Read more
Tax saving
ATO issues warning over new gift card scam
The Australian Taxation Office (ATO) is warning victims of a new phone scam, where scammers are pretending to be the tax man and demanding payments for unpaid tax liabilities. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
