A finance expert has revealed the five most overlooked tax deductions in Australia - including not claiming professional memberships and forgetting about rental property expenses.
Mark Chapman, Director Of Tax Communications, H&R Block told the ways Australians can claim back thousands in taxes as many get ready to file in coming weeks.
Firstly, Situs Pendidikan he advises claiming membership fees for any professional or trade associations where you may be a member.
Mark Chapman, Director Of Tax Communications, H&R Block told Yahoo Finance the ways Australians can claim back thousands in taxes as many get ready to file in coming weeks (stock image)
This can cover membership fees to trade unions or subscriptions to investment magazines.
Mark also advises prepaying your fees or subscriptions for the next tax year before 30 June 2023, then you can claim a deduction this year.
The tax expert also revealed that people with rental properties can not only claim a deduction in interest on their mortgage but also work on the house, such as gardening, repairs, advertising for tenants and getting keys cut.