Expert advice reveals common misconceptions that could cost you thousands in missed deductions
End of financial year is here, and while many Australians are eager to maximise their tax returns, widespread confusion about what can and can’t be claimed could see taxpayers leave money on the table.
New research by Officeworks and financial expert analysis shows that despite good intentions, costly misconceptions persist, and they’re preventing people from claiming legitimate work-related expenses worth hundreds or even thousands of dollars.
What you can actually claim
Technology items consistently top EOFY shopping lists, and for good reason. Computers, laptops, tablets and smartphones used for work are often fully deductible, along with essential accessories like keyboards, mice, webcams, and phone cases. Headphones and earbuds have become particularly important for remote workers, while USB drives, external hard drives, and cloud storage subscriptions support modern work practices. Don’t overlook printers, scanners, and other office equipment that facilitate your professional duties.
Even the smallest office supplies can add up to significant deductions. Stationery items including notebooks, folders, filing systems, pens, pencils, markers, and highlighters all qualify when used for work. Printing costs including paper, ink cartridges, and toner are legitimate expenses, as are business cards, letterhead, calendars, and work planners.
Creating a proper work environment is entirely tax-deductible. This includes desks, chairs, ergonomic accessories, filing cabinets, storage solutions, appropriate lighting for your home office, shelving, organizational systems, standing desks, and monitor arms that improve your workspace functionality.
Many ongoing costs also qualify for deductions, including the work portion of internet and phone bills, software subscriptions and licenses, professional development courses, industry memberships and subscriptions, and even accounting and tax preparation fees.
Costly misconceptions that could cost you
Financial adviser and Pivot Wealth founder Ben Nash warns against common assumptions that prove expensive. “One of the biggest mistakes people make is assuming they can claim things just because it’s EOFY. You need to have actually incurred an additional expense, and it must relate directly to earning your income.”
The most dangerous misconception is the “$300 myth”, the false belief that you can claim up to $300 without actual purchases. This is completely incorrect and could trigger ATO scrutiny. Another widespread error involves the working-from-home shortcut method. You cannot use the ATO’s simplified method, and claim individual expenses, it’s one or the other.
Many people incorrectly assume regular travel between home and work is tax-deductible, but this commuting cost doesn’t qualify. Additionally, you can only claim the work-related portion of items used for both work and personal activities, not the full purchase price.
Nash emphasizes the real cost of confusion, “Officeworks’ research found nearly one in three (32 per cent) people admit to missing deductions they were entitled to in previous years, and general confusion or poor record keeping is leading people to forgo potential claims. That’s real money left on the table.”
Smart record-keeping strategies
Proper documentation is crucial for maximizing returns and avoiding ATO issues. Jarryd McCarthy, Officeworks General Manager of Merchandise, highlights the importance of modern record-keeping approaches, “EOFY can be stressful, especially when lost paperwork gets in the way of maximising your tax return. Switching to digital receipts, like the email and in-app options Officeworks offers, is a simple way to keep track of your expenses. Even small steps like these can make a real difference when it comes to feeling more in control at tax time.”
The key is maintaining comprehensive records regardless of purchase size—keep receipts even for small items like pens, as they contribute to your overall deductions. If receipts go missing, bank statements can serve as proof of purchase, and digital receipts carry the same validity as paper ones. The most effective approach involves taking photos of receipts immediately after purchase, and creating a dedicated folder, whether physical or digital, for all tax-related documents.
Strategic EOFY planning
McCarthy notes how savvy Australians approach end-of-year purchasing, “With tech, stationery and office furniture at the top of end of financial year shopping lists, it’s clear that Aussies plan to set themselves up for the work year ahead. We know Aussies don’t just want low prices, they want smart support that delivers value beyond the cart, especially when it comes to tech. That’s why our extensive range and commitment to low prices is backed by expert in-store advice, online buying guides, and services like Geeks2U to help make every purchase work harder.”
The most effective strategy involves making legitimate work-related purchases before June 30, considering bundled purchases to maximize value, and prioritizing items you’ll genuinely use for work. However, avoid the temptation to buy unnecessary items solely for tax deductions, as this defeats the purpose of smart financial planning. Always maintain detailed records explaining how each item relates to your work activities.
Professional help vs. self-preparation
Nash advocates for a measured approach to tax preparation, emphasizing preparation over procrastination, “The best thing you can do is get on the front foot, keep a clear record of your purchases, understand what you’re eligible to claim, and take advantage of digital tools that make the process easier. If you’re unsure, speak to a tax professional. A bit of clarity now can make a big difference to your return.”
The decision between professional assistance and self-preparation often depends on complexity. Simple employee returns with standard deductions might suit DIY approaches, while business owners, contractors, or those with multiple income sources typically benefit from professional expertise.
Small business considerations
Small business owners face additional complexities, but also greater opportunities. McCarthy acknowledges these challenges, “We understand how challenging this time of year can be for small business owners. That’s why we provide tailored support and great value to help them navigate EOFY with clarity and confidence.”
Business owners must consider asset depreciation for expensive equipment, immediate write-off opportunities for eligible purchases, GST implications for registered businesses, and stocktake requirements. The complexity often justifies professional tax advice, but the potential returns are typically much larger than employee claims.
Maximising your return
The research reveals that many Australians miss opportunities through poor planning and misconceptions. McCarthy emphasizes the comprehensive nature of potential claims, “We’re in a unique position at Officeworks in that everything could be tax deductible, so whether they’re looking to upgrade their work from home set up, invest in new tech, or stock up on office essentials, customers can be confident we’ve got them covered this tax season.”
Success requires claiming only legitimate work-related expenses, maintaining meticulous purchase records, understanding eligibility requirements, avoiding common misconceptions, and seeking professional guidance when situations become complex. Most importantly, plan purchases strategically based on genuine work needs rather than artificial tax minimization schemes.
The opportunity for legitimate tax savings remains substantial, but only for those who approach EOFY with proper knowledge, documentation, and planning. As Nash concludes, the difference between maximizing and missing out on your entitlements often comes down to preparation and understanding, rather than spending power.
This article is based on research and expert commentary provided by Officeworks and financial adviser Ben Nash from Pivot Wealth. For specific tax advice relating to your circumstances, consult a qualified tax professional.
Visit officeworks.com.au/eofy to find out more about getting ready for end of financial year with Officeworks.
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