Tax Deductions for Nurses and Health Professionals

Tax Deductions for Nurses and Health Professionals

Nursing can be a rewarding and exciting career option; it involves taking care of patients and giving them vitals, IVs, and other medicines. While looking after their patients, health professionals often forget about their finances. Unfortunately, they lose hundreds of dollars at tax time!

It seems you are also a nurse or health professional struggling to lodge your income tax returns and manage finances. If this is the case, this blog is just for you, as it contains all the vital information regarding the tax deductions you can claim and can’t. You can also contact our tax specialists to learn more about tax deductions!

List of Deductible Work-Related Expenses You Can Claim

Here is the list of deductible work-related expenses that a nurse or health professional can claim: –

Meals and Travel Expenses

  • Overtime meals
  • Travel expenses
  • Personal car usage
  • Overnight accommodation costs

Work Clothing Expenses

  • Safety items including: –
    • Safety glasses
    • Lab coats
    • Aprons
    • Stockings
    • Vests
    • Gloves
    • Non-slip nursing shoes
  • Uniforms and protective clothing
  • Cleaning and repair of uniforms and protective clothing

Training and Self Education

  • Stationery items
  • Books and Journals
  • Repair of purchased equipment
  • Purchase of work-related equipment
  • Training and self-education course fees
  • Equipment and other expenses related to training courses

Other Expenses

  • Logbook
  • Fob watch
  • A briefcase or work bag
  • Annual certification fees
  • Agency commissions/fees
  • Work-related phone and internet expenses
  • Professional memberships and subscriptions

Note: Bear in mind that this is a guide only for information purposes, and to claim all the above-listed deductible expenses, you will need to meet specific criteria. If you doubt whether any expenses are deductible, you can connect with your tax specialist, who can guide you with the expenses you can claim or can’t.

5 Tips to Maximise Your Income Tax Returns as a Health Professional

The tips below will be helpful when you attempt to maximise your tax returns as a nurse or health professional.

Save Every Receipt You Get

Whenever you purchase any work-related stuff, collect the receipt and put it into a folder, even if you are unsure whether it’s deductible. You can connect with your tax accountant later to determine whether or not you can claim the expense. This way, you won’t only save hundreds of bucks but also save time.

Maintain Records of Expenses

To get the maximum claim for your expenses, you should keep records that will be useful in the future. Your documents must include what type of purchase/payment it is, the date of purchase, and the cost. Remember that you can claim tax deductions for the cost of equipment, tools and protective items as a health professional.

Claim Your $150 Laundry Cost

While claiming income tax returns, remember that you don’t need any receipt for a uniform laundry claim under $150. However, if you want to claim repair and dry-cleaning costs, you might need to provide the receipts to the authorities.

Personal Car Use Claim

Did you know you can claim tax deductions if you use your car for work-related travel? However, you must keep records of your travelling expenses via your vehicle for that purpose. If you have no clue about the process of tax deduction claims, you can connect with a reliable tax specialist for the same.

Remember to Claim Self Education Expenses

Nurses and health professionals can claim tax deductions for self-education expenses if it’s directly related to their current profession and may increase income. However, if your self-education is to obtain a new job or commence a business, you cannot claim deductions for the expenses.

Talk to Our Tax Accountants to Maximise Your Income Tax Returns

KPG Taxation has shouldered the responsibility of helping individuals like you lodge income tax returns more efficiently and faster. We have a team of seasoned tax specialists who are well-versed in taxation laws. They have mastered the art of maximising tax returns for individuals and entrepreneurs. Our team can assist you with your tax deduction claims; connect with them today!

Consulting with KPG Taxation

Focus On Growing Your Business, Leave The Accounting On Us!

  • Income Tax : File your taxes & get the best claims & returns.
  • Accountancy : Hire expert accountants to manage your transactions.
  • Bookkeeping : Let us handle your record books and expense reports.
  • Business Advisory : From company set-up to payroll, we handle it all.