Maximising your tax refund involves careful tracking and claiming of all eligible expenses. With TaxFox, recording and claiming your home-office and car-related expenses is simple and efficient, helping you boost your tax refund significantly. Additionally, you can claim many other work-related expenses, ensuring you don't miss out on any potential deductions.
Claim Home-Office Expenses
Working from home can lead to a variety of deductible expenses. These might include electricity, internet, office supplies, and other costs associated with maintaining a home office. TaxFox helps you keep track of these expenses effortlessly.
How TaxFox Helps with Home-Office Expenses:
Easy Expense Logging: Record your home-office expenses in the app as you incur them. TaxFox’s user-friendly interface makes it easy to input and categorise each expense.
Track Work-From-Home Days: Log the days you work from home, and see your estimated tax refund grow in real-time. This feature ensures you claim the maximum allowable deductions for your home office.
Generate Detailed Reports: TaxFox generates detailed reports of your home-office expenses, making it simple to compile the necessary documentation for your tax return.
Claim Car-Related Expenses:
Using your car for work can also lead to significant tax deductions. Expenses like fuel, maintenance, and even depreciation can be claimed if you maintain accurate records. TaxFox’s Car Mileage Tracker and Digital Vehicle Logbook streamline this process.
How TaxFox Helps with Car-Related Expenses:
Log Car Trips: Record your work-related car trips easily. The app tracks the distance travelled and calculates the potential tax deductions based on logged trips.
Automatic Calculations: TaxFox automatically calculates your potential tax refunds from car-related expenses, ensuring you claim every eligible kilometre.
Export Professional Reports: Generate sleek trip reports in PDF format that include your digital logbook, distances travelled, and potential deductions. This makes claiming these deductions during tax filing seamless.
Claiming Other Work-Related Expenses
TaxFox also allows you to claim many other work-related expenses. This can include costs for tools, uniforms, professional development courses, and more.
How TaxFox Helps with Other Work-Related Expenses:
Comprehensive Expense Tracking: Keep track of all your work-related expenses in one place. TaxFox’s comprehensive tracking ensures no deductible expense is overlooked.
Personalised Deduction Suggestions: Receive personalised suggestions for deductions specific to your occupation and spending habits. TaxFox ensures you are aware of all possible deductions.
Compare Average Deductions: See how your deductions compare to the average for your job. This feature helps you understand if you are claiming too little or too much, providing peace of mind.
Subscription Plans: TaxFox offers a range of plans to suit different needs:
BASIC (Free):
Save 12 tax-deductible expense receipts.
Log up to 20 work-from-home days.
Save up to $1,000 worth of deductions.
Link 2 bank accounts.
Save up to 15 trips for work vehicle.
Ideal for anyone working from home less than 1 month in the year.
SMART ($8/month, billed annually):
Store 24 expense receipts per year.
Log up to 80 work-from-home days.
Save up to $2,000 worth of deductions.
Link unlimited banks and accounts.
Save up to 60 trips for work vehicle.
Ideal for employees with expenses, employees working from home at least 1 day per week, and easily preparing for tax return lodgements.
GENIUS ($13/month, billed annually):
Store unlimited expense receipts per year.
Log unlimited work-from-home days.
Save unlimited value of deductions.
Link unlimited banks and accounts.
Save unlimited trips for work vehicle.
Ideal for claiming every dollar of eligible tax refund, DIY tax return lodgers, entrepreneurs and self-employed, and employees with a home office or working from home more than 1 day per week.
Conclusion: Boost your tax refund by accurately tracking and claiming your home-office, car-related, and other work-related expenses with TaxFox. Download TaxFox today on Android or iOS, and ensure you never miss out on a deduction. For more information, visit www.taxfox.com.au or follow us on Instagram, Facebook, and LinkedIn.
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