The end of financial year is near — are you prepared. While your circumstances may be unique, maintaining accurate records, understanding eligible deductions, and staying alert to scams can make things a whole lot easier.
Understanding Work-Related Deductions
Many people working in the security industry incur expenses directly related to their role. Depending on individual circumstances and ATO requirements, these may include items such as work uniforms, protective equipment, industry-specific tools, training expenses, and professional memberships.
The Australian Taxation Office (ATO) provides occupation-specific guidance to help workers understand what can and cannot be claimed. Security personnel should ensure any deductions claimed are work-related, appropriately documented, and meet current ATO requirements.
Good Records Make Tax Time Easier
One of the simplest ways to reduce stress at tax time is maintaining accurate records throughout the year. If you haven’t achieved that for this tax year, put the systems in place now for the next time around.
Keeping receipts, invoices, and records of work-related expenses can make preparing a return significantly easier and help support any claims made. Digital tools such as the ATO’s myDeductions function allow taxpayers to store information as expenses occur rather than trying to reconstruct records at the end of the financial year.
For security businesses, maintaining organised records also supports broader compliance, financial management, and reporting obligations.
Timing Matters
Many tax agents and financial professionals recommend waiting until late July before lodging a return.
By this time, information from employers, banks, health funds, and other institutions is often automatically included through the ATO’s pre-fill system. Taking a little extra time to confirm all information has been received can help reduce errors and minimise the need for amendments later.
Stay Alert to Tax-Time Scams
Tax season is also a period when scammers become particularly active.
Emails, text messages, and phone calls claiming to be from government agencies often increase during this period. Security professionals should remain cautious and verify any communication before providing personal information, making payments, or clicking links.
The ATO regularly publishes information about current scams and how to recognise them.
Useful Resources
The ATO provides a range of resources that may assist security professionals and businesses during tax time:
• Occupation-specific guidance for security workers
• myDeductions record-keeping tools
• Tax return pre-fill information
• Current scam alerts and warnings
Tax time can be complex, and individual circumstances vary. Security professionals should seek advice from a qualified tax professional where required and refer to official ATO guidance for the most current information.