Rooshock Accounting

A quick reminder this tax season!

The proposed $1,000 instant tax deduction for work-related expenses does not apply to your 2025/2026 tax return.

If you're lodging your return this year, you'll still need to keep records and claim eligible work-related expenses under the current rules. The new deduction is expected to apply from the 2026/2027 financial year.

If you want more information on the new $1000 instant tax deduction, we have a video on this linked in the comments below! 🎥

Weekly Tax Tip ✏️

This week’s tax tip covers self-education and training expenses.

Self-education expenses may be deductible if the course directly relates to your current employment and helps maintain or improve your existing skills. This can include courses, seminars, certifications, and training that are connected to your current job or industry.

Study expenses that help maintain or improve your existing work skills are often claimable as well, provided they are not for a completely new career path. This may include course fees, registration costs and required materials, as long as they relate to your current role. Training that leads to a new career or is unrelated to your current job is generally not deductible.

2025/2026 Tax Time Changes❗️

There have been a few changes between the 2024/2025 and 2025/2026 financial year tax return claims and rules you should be aware of when completing your return.

We've put together a simple breakdown of what’s changed and what’s stayed the same, to help you prepare before lodging your 2025/2026 tax return.

Want a full breakdown of the changes? Check out our video linked in the comments below!

Weekly Tax Tip 🚙

This week, we’re breaking down the cents per kilometre method for claiming car expenses.

The cents per kilometre method allows you to claim work-related driving, using a set rate of 88 cents per kilometre (up to a yearly limit of 5000km). You do not need a logbook, but you must be able to explain how your work-related travel was used and calculated.

✨ Meet the Team: Getting to Know the Faces Behind Rooshock Accounting ✨

We are proud to introduce our new team member at Rooshock Accounting, Milos!

Milos has been working for us for a few months now and many of you have already interacted with him, so we thought it was time to put a face to the name. Milos comes to us with great experience in the accounting industry. After completing his university degree he worked in the banking sector, private sector and now wants to take on the challenge of public practice accounting.

As a Junior Accountant, Milos will be performing important responsibilities within Rooshock Accounting by assisting with the preparation of individual tax returns, business client work and being a first point of contact for all. His dedication to learning and growing in his role, combined with his attention to detail, makes him a valuable part of the team.

Milos looks forward to working with you all and is keen to assist with all your taxation needs.

Weekly Tax Tip 🚗📒

This week’s focus is on the Motor Vehicle logbook method and how it differs from the simpler cents per km method.

The Motor Vehicle logbook method requires you to keep a 12-week logbook that records all trips, to establish your work-use percentage. Once established, you can claim that full percentage of all vehicle expenses, including; fuel, servicing, insurance, registration, and depreciation. If this equals out to be a higher claim than the standard cents per km claim, this will allow you to claim a higher deduction in your tax return. Odometer readings and supporting records must also be maintained.

It's Tax Time! 🎉

The new financial year has arrived, and we're ready to help you with your 2025/2026 tax return! We have two main ways of completing returns;

📅 Book an appointment for a phone, zoom or in-person return.

💻 Send us your information online and we'll prepare and lodge your return for you (no appointment required)! This is the simplest, quickest and cheapest way to complete your return!

Contact us today to book your appointment or get started online. We look forward to helping you this tax season!

Happy tax time eve!

Just a quick one to let you know our annual How to Maximise Your Tax Return video is now out!

We love making this one every year and hope you find some value in it!

How to Maximise Your Tax Return 2026 It’s Tax Time! In this video I’ll explain six specific ATO-complian...

Weekly Tax Tip ✈️

This week, we’re looking at travel expenses and when travel can and cannot be claimed.

Travel between home and your regular workplace is generally not deductible under ATO rules. However, travel between worksites, client visits, or work-related errands may be claimable in certain situations.

You can also claim other travel costs you incur as an employee, such as meals, flights, accommodation, car parking, and similar expenses, where they are directly related to work travel. However, you cannot claim these expenses if you are reimbursed by your employer.

Most people doing their own tax return aren’t making obvious mistakes, they’re making assumptions that quietly cost them money every single year. Below we break down the 4 most common tax assumptions Australians get wrong.

1️⃣ No receipt = no deduction

Not always. Some expenses can still be claimed without receipts, depending on the category and evidence available. We recommend keeping receipts whenever possible and understand the substantiation rules before claiming.

2️⃣ Working from home = easy deduction

The fixed rate method still requires records of your actual hours worked from home. No log = no claim. Track your hours and know what's already included in the fixed rate method so you don't double dip.

3️⃣ If my accountant doesn't ask, it's not important

Your accountant can only work with the information you provide. Missing details like crypto, investment properties, or side income can lead to mistakes or missed deductions. If you're unsure, simply ask your accountant.

4️⃣ ATO pre-fill means everything is covered

Pre-fill data is a starting point, not a complete tax return. Some information may be delayed, incomplete, or incorrect. Review your date carefully and add any missing information yourself.

See link in the comments for Ethan’s video exploring these points in further detail.