What tax can I claim back as a security guard? Keep your tax return safe this year with the best tax deductions! Here are some tax deductible expenses for security guards. Don’t leave anything. If you save every little bit, and deduct everything you’re entitled to, the return can be massive. What are the details though, and what are you taxed against?
When it comes down to it, there are three main criteria that qualifies an expense for tax deduction, which is calculated against your income:
- You must have spent the money and not have been reimbursed
- It must be related to your job
- You must have a record to prove it
However, this in itself can be hard to understand. What constitutes an expense as “related” to your job? Here is what defines your taxable income, and a list of deductions for security guards.
What Is Your Taxable Income
Your taxable security guard income is money generated from your employer or your work. Your taxable income also includes:
- PAYG summaries
- Pensions and government allowances
- Interest earned (banks etc)
- Rental property income
- Business income
- Other income earned (capital gains etc)
Tax Deductible Expenses For Security Guards
Security Guard Specific
- Buying security uniforms in Australia and clothing
- The cost of laundry for clothes/uniforms that is worn for your job as a security worker or bouncer
- Protective clothing items that you use for your security guard work (masks, helmets, sunscreen etc)
- Purchase of equipment and tools used for your security work (self protection, torches, keychains, radios etc) up to $300
- Depreciation expense of equipment and tools over $300
- The repair and/or upkeep of security tools and equipment
- Interest generated from loans relating to work activities
- Self-education and courses that will improve your security guard capabilities
- Security guard license and certification
- Work union fees/other similar organisations
- Subscriptions and magazines relating to your security work
- Travel expenses if work related (conferences, moving between jobs, and going to see clients)
- Overtime meal expenses if you are allowed a meal allowance and aren’t reimbursed.
Equipment and Uniforms for Security Guards
Any of the torches, handheld radios, and other items that you buy for your security work, and you do not get reimbursed by your employer for, can be claimed as a tax deduction. Additionally, any of the uniforms that you buy or the laundry expense for those uniforms, can be claimed as a tax deduction if it has your business logo or name on it.
Travel Expenses for Security Guards
Unfortunately, you can’t claim the cost it takes you to travel between work and home. However, if you need to transport heavy equipment that you can’t store anywhere else but at home, you are allowed to claim that as a tax deduction. Additionally, you can claim the travel expense it takes to move between jobs and clients while at work. If you have any security guard conferences, or have to stay out of home, you can also claim that. To work out how much you can claim, ask a professional.
Security Guard Licenses and Certificates
You can’t claim the initial cost for purchasing a license or certificates. However, if you’re renewing a license or certificate that you use for security guard work, you can indeed claim that as a tax deduction.
- Car expenses and general wear if your car use is work related (estimated Km or a logbook with all expense items)
- Travel expenses for your work (flights, taxis and trains etc)
- Accommodation needed on work reasons (including meals)
- Phone bills for work
- Work related computing
- Working from home costs
- Tax return fees dating to the year previous
- Rental expense (if you are renting)
- Charity + gift deductions (including gifts to clients tax deductible ATO)
- Client entertainment expenses tax deductible ATO
- Sun protection (if you have to work outside)
Maximising Your Tax Return With An Online Tax Agent
There will be more security guard tax benefits and tax deductions that aren’t on this list. Tax deductions are not only industry specific, but also change from individual to individual. So, what can you claim on your tax return?
The best way to claim the most you can is with a tax agent like One Click Life. We have made the process simple with 5 easy steps.
The more you deduct, the less tax you pay and the more money you can spend on yourself. Clearly, you will want to deduct the most you can, and the sure-fire way to do that is with a tax agent or accountant. If you can claim your tax agent/tax return fee back on tax, why wouldn’t you use one to minimise your tax?
One Click Life fast offers online tax returns at your fingertips in an easy-to-use platform run by industry professionals.
Taxes, health insurance, and wills can be time-consuming and tedious. Our app allows you to be able to do this fuss-free, giving you a simple way to organise, track and manage all of your life admin in one place.
Let One Click Life take care of your tax return, and life’s essential tasks so you can spend more time doing the things you love.