June 30, 2025 • 8 mins
Jason Featherby from Leeuwin Wealth dropped in to chat about all things tax and he did not hold back on advice. The guy’s grilled Jason on cryptocurrency, purchasing sunglasses and claiming trips in the car. Plus Jason imparted two golden roles to help you this tax time. Be sure to listen before you submit your claim.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
It's that time, tax time. Jason Featherby's here from LEEU
and Wealth to help us. Hello, Hello, coming in, Thank
you for saving us from ourselves.
Speaker 2 (00:11):
It's that time of year, isn't it. It's like Christmas
for financial advisors. Absolutely, you've got that hard deadline. Everything's
got to be done by thirty June. So that's over.
So what do we do next?
Speaker 3 (00:20):
Yeah? What is on the agenda? What's the first thing
to think of? Because in layman's terms, people just want
to get a few tips.
Speaker 2 (00:26):
Yeah, I guess the over arching thing when you go
to think about doing your tax return is to remember
three things yep. One, if you're going to put in
your tax return, you must have spent the money. Yes,
you can't make it up, so you must have spent
the money. You must it must be linked to your
work or the production of income. Okay, so it can't
(00:46):
be private expenses and things like that. So that's important
to remember. And the other thing that people do forget
from time to time or get confused about is that
if you've been reimbursed for you know, your mobile phone
or something, your work.
Speaker 1 (01:01):
Yeah, Jason, should people do their own tax or should
they always?
Speaker 2 (01:06):
Perhaps?
Speaker 1 (01:07):
I mean, I wouldn't in a fit and mine's very straightforward,
but I just you know, I get a form and
I'm zoned out.
Speaker 2 (01:15):
So it is easier than ever before to do your
own tax. If you're an employer and you've got not
a lot, a bit of interest and maybe a few shares,
you can probably get away with doing it yourself.
Speaker 4 (01:26):
Yeah.
Speaker 2 (01:26):
Having grown up in an accounting business, though, I'm a
bit conflicted. I think having an accountant means it's just
another layer of protection, isn't it. So you've got someone
with another set of eyes over your stuff, and you
get a little bit longer to lodge your tax return
as well. So I'm a bit conflicted, but I'd always
get a good accountant. They're like anything, you know, it's
(01:49):
worth the money you pay for it.
Speaker 3 (01:50):
It's a bit of insurance as well, because legislation and
things can change as well.
Speaker 2 (01:54):
They do. It's changing again. Things change every year. They'll
change again today, tax rates payment all changed today. What
you can and can't claim all of that for you.
Speaker 4 (02:03):
They they even get your group certificate for you, isn't there.
Speaker 5 (02:15):
It's not the paper thing that you get anymore.
Speaker 2 (02:17):
But I thought you had to kind of access. I
think it's right in the tax office. It goes straight
into your pre fill. That's called it the tax office
pre fill. And so if you're patient enough then and
you wait for late July early August, all your stuff
is going to be in your tax return, ready to
(02:37):
ready to add a few extra bits and press a button.
Away you go, So you can do it.
Speaker 1 (02:41):
You good, Yeah you could if you were so inclined. Now,
what's the actual cracking down on this year? What should people?
Speaker 2 (02:49):
Yeah? Look, the big thing, the three big things this year,
and they're usually the common things, so work related expenses,
working from home expenses, so you need to be very
careful with those. A lot of us now work from
home since COVID.
Speaker 1 (03:01):
All all ways to try it on.
Speaker 2 (03:03):
To try it on. Yeah, just remember those golden rules.
You must be work related, you must have spent the money.
So coffee machines, no, they're not tax it up.
Speaker 3 (03:12):
To work, dog food for the companion is helping your
work productivity.
Speaker 2 (03:17):
I think that's the stretch. But you do need so,
and you can claim, like certain kilometers you can claim
is it three hundred dollars? I think you can claim
without receipts to get fulled, so you might be able
to claim without receipts, but you still need to keep
records because if the ato comes to knocking, you can
have to prove that you did spend that money and
that it was legit. So, for example, you guys, you
(03:39):
drive here and you do your work and you drive home,
and so your job is here, so you would be
struggling to claim kilometers. You can't claim trips to and
from work. Even I can during the day coming here,
for example, because I come from home to your curricular
Yes private, it's to and from work not deductible. It's
(04:02):
a common mistake.
Speaker 1 (04:03):
But if we go out to maybe an event, yeah, yeah, that's.
Speaker 2 (04:12):
Then yeah you can, then you can. Yeah, but that'd
be a mine. I'm not telling you what you can
be pretty mine.
Speaker 1 (04:17):
I'd say car related travel did make up the bulk
of work related expenses last year, which surprised me because
there are so many people working from home so much
there there are.
Speaker 2 (04:27):
And there are a lot of people that actually don't
need their their car for their job, but there is
that this. You know, everyone thinks I can. I can
claim five thousand kilometers without proving it. The tax office
now more than ever. It's always been pretty good at
data matching, and it knows what sorts of jobs do
need to drive and it knows what don't. So you
(04:48):
need to be really careful with that.
Speaker 1 (04:49):
And it knows you've filled out that book with three
different pens using book.
Speaker 5 (04:57):
It looked like you did it over it.
Speaker 2 (04:59):
Yeah. Yeah, they had to do it for three months
in the last for five or seven years. Yeah yeah.
So the ATO you do need to keep you do?
They know that they can even use AI now to
know where you were. They can ask for oh my god,
I can ask for your calendar to prove that you
were where you were. You to scare people, but you
just it just needs to be legit and more than ever.
(05:19):
I heard the other day an account and telling me
about someone one of his accounts having a holiday house,
and the ATO says, well, we know you were there
on these dates, these days, these dates, and these dates
because we've got your metadata from your phone. Oh there
you go. I don't even know what pinged You've been
pined frightening that we know everything about it. They do, ye,
(05:41):
So don't don't try and be cleverer than that.
Speaker 3 (05:45):
Okay, what about crypto currency. Not that everyone's delving into crypto,
but some rule changes, right, Yeah.
Speaker 1 (05:51):
One hundred thousand people did, and and there's.
Speaker 2 (05:53):
Been a good year. So there are some games in crypto,
And just because it is a digital currency doesn't mean
the tax offers doesn't know that you are making money
made a game, Yeah, made a gain. And a lot
of the more common platforms actually report straight to the
OHO as well. So you do need to be disclosing
your gains on crypto. And even if you swap from
(06:15):
bitcoin to e theorem for example, that's a transaction, right,
that's like selling p HP and buying rio, right, So
you do need to report that you can't get away with.
Speaker 3 (06:26):
Can't away with much, can't get away with much any Yeah,
I know there's a lot of coverage of what we're doing.
Speaker 2 (06:30):
We know where you are. I reckon.
Speaker 1 (06:32):
This is one of those things though, that you know
in yourself.
Speaker 3 (06:37):
Yeah, do you reckon? I can?
Speaker 1 (06:39):
No, you can't.
Speaker 2 (06:40):
And if you have to ask, like you've just done, yes,
probably probably know.
Speaker 1 (06:45):
If you get a little grid on your face when
you're thinking I wonder if I could, probably.
Speaker 2 (06:48):
It's probably, you know, and you're really more than ever
now you just can't get away with it. The tax
office has so much going for it in terms of
getting in front of you and the pain and the
penalties and the.
Speaker 3 (07:02):
Stress embarrassment as well. If you get nabbed and you
haven't got the receipts.
Speaker 2 (07:06):
You've got them coming in once they're in, so they
might come and see you for I don't know, some
sort of a three hundred dollar deduction that you don't
have a receipt for. Once they're in your business, they
are in, and so they will then look at everything. Yep.
So you don't want to let the time. Don't give it.
They've got the time. It is their job, and you
(07:27):
don't want to give it.
Speaker 1 (07:27):
And they love it. That's what you don't want to
What is it they say about wrestling with pigs?
Speaker 5 (07:32):
But you get dirty and the picture do it very
carefully on that note, Actually, we're going to be opening
up the text line and the phones here, so can
I throw just very quickly before you go sunglasses if
I'm seeing it the red hot summer tour.
Speaker 2 (07:48):
No, look at his face. Maybe sunscreens okay, sunscreen happen
in their No even you, even even if you've got
all dress code at work, which everyone does. That's not deductor.
You've got to be really, really careful. That's the overarching message.
The other one is, what were the two golden rules?
(08:10):
I don't lie. You don't lie. You have to spend
the money you.
Speaker 1 (08:14):
Have the worker, it's got to be work related.
Speaker 2 (08:16):
Well done, LUSA, I'm not so well done. I'm glad
you did the test coming in
It's that time, tax time. Jason Featherby's here from LEEU
and Wealth to help us. Hello, Hello, coming in, Thank
you for saving us from ourselves.
Speaker 2 (00:11):
It's that time of year, isn't it. It's like Christmas
for financial advisors. Absolutely, you've got that hard deadline. Everything's
got to be done by thirty June. So that's over.
So what do we do next?
Speaker 3 (00:20):
Yeah? What is on the agenda? What's the first thing
to think of? Because in layman's terms, people just want
to get a few tips.
Speaker 2 (00:26):
Yeah, I guess the over arching thing when you go
to think about doing your tax return is to remember
three things yep. One, if you're going to put in
your tax return, you must have spent the money. Yes,
you can't make it up, so you must have spent
the money. You must it must be linked to your
work or the production of income. Okay, so it can't
(00:46):
be private expenses and things like that. So that's important
to remember. And the other thing that people do forget
from time to time or get confused about is that
if you've been reimbursed for you know, your mobile phone
or something, your work.
Speaker 1 (01:01):
Yeah, Jason, should people do their own tax or should
they always?
Speaker 2 (01:06):
Perhaps?
Speaker 1 (01:07):
I mean, I wouldn't in a fit and mine's very straightforward,
but I just you know, I get a form and
I'm zoned out.
Speaker 2 (01:15):
So it is easier than ever before to do your
own tax. If you're an employer and you've got not
a lot, a bit of interest and maybe a few shares,
you can probably get away with doing it yourself.
Speaker 4 (01:26):
Yeah.
Speaker 2 (01:26):
Having grown up in an accounting business, though, I'm a
bit conflicted. I think having an accountant means it's just
another layer of protection, isn't it. So you've got someone
with another set of eyes over your stuff, and you
get a little bit longer to lodge your tax return
as well. So I'm a bit conflicted, but I'd always
get a good accountant. They're like anything, you know, it's
(01:49):
worth the money you pay for it.
Speaker 3 (01:50):
It's a bit of insurance as well, because legislation and
things can change as well.
Speaker 2 (01:54):
They do. It's changing again. Things change every year. They'll
change again today, tax rates payment all changed today. What
you can and can't claim all of that for you.
Speaker 4 (02:03):
They they even get your group certificate for you, isn't there.
Speaker 5 (02:15):
It's not the paper thing that you get anymore.
Speaker 2 (02:17):
But I thought you had to kind of access. I
think it's right in the tax office. It goes straight
into your pre fill. That's called it the tax office
pre fill. And so if you're patient enough then and
you wait for late July early August, all your stuff
is going to be in your tax return, ready to
(02:37):
ready to add a few extra bits and press a button.
Away you go, So you can do it.
Speaker 1 (02:41):
You good, Yeah you could if you were so inclined. Now,
what's the actual cracking down on this year? What should people?
Speaker 2 (02:49):
Yeah? Look, the big thing, the three big things this year,
and they're usually the common things, so work related expenses,
working from home expenses, so you need to be very
careful with those. A lot of us now work from
home since COVID.
Speaker 1 (03:01):
All all ways to try it on.
Speaker 2 (03:03):
To try it on. Yeah, just remember those golden rules.
You must be work related, you must have spent the money.
So coffee machines, no, they're not tax it up.
Speaker 3 (03:12):
To work, dog food for the companion is helping your
work productivity.
Speaker 2 (03:17):
I think that's the stretch. But you do need so,
and you can claim, like certain kilometers you can claim
is it three hundred dollars? I think you can claim
without receipts to get fulled, so you might be able
to claim without receipts, but you still need to keep
records because if the ato comes to knocking, you can
have to prove that you did spend that money and
that it was legit. So, for example, you guys, you
(03:39):
drive here and you do your work and you drive home,
and so your job is here, so you would be
struggling to claim kilometers. You can't claim trips to and
from work. Even I can during the day coming here,
for example, because I come from home to your curricular
Yes private, it's to and from work not deductible. It's
(04:02):
a common mistake.
Speaker 1 (04:03):
But if we go out to maybe an event, yeah, yeah, that's.
Speaker 2 (04:12):
Then yeah you can, then you can. Yeah, but that'd
be a mine. I'm not telling you what you can
be pretty mine.
Speaker 1 (04:17):
I'd say car related travel did make up the bulk
of work related expenses last year, which surprised me because
there are so many people working from home so much
there there are.
Speaker 2 (04:27):
And there are a lot of people that actually don't
need their their car for their job, but there is
that this. You know, everyone thinks I can. I can
claim five thousand kilometers without proving it. The tax office
now more than ever. It's always been pretty good at
data matching, and it knows what sorts of jobs do
need to drive and it knows what don't. So you
(04:48):
need to be really careful with that.
Speaker 1 (04:49):
And it knows you've filled out that book with three
different pens using book.
Speaker 5 (04:57):
It looked like you did it over it.
Speaker 2 (04:59):
Yeah. Yeah, they had to do it for three months
in the last for five or seven years. Yeah yeah.
So the ATO you do need to keep you do?
They know that they can even use AI now to
know where you were. They can ask for oh my god,
I can ask for your calendar to prove that you
were where you were. You to scare people, but you
just it just needs to be legit and more than ever.
(05:19):
I heard the other day an account and telling me
about someone one of his accounts having a holiday house,
and the ATO says, well, we know you were there
on these dates, these days, these dates, and these dates
because we've got your metadata from your phone. Oh there
you go. I don't even know what pinged You've been
pined frightening that we know everything about it. They do, ye,
(05:41):
So don't don't try and be cleverer than that.
Speaker 3 (05:45):
Okay, what about crypto currency. Not that everyone's delving into crypto,
but some rule changes, right, Yeah.
Speaker 1 (05:51):
One hundred thousand people did, and and there's.
Speaker 2 (05:53):
Been a good year. So there are some games in crypto,
And just because it is a digital currency doesn't mean
the tax offers doesn't know that you are making money
made a game, Yeah, made a gain. And a lot
of the more common platforms actually report straight to the
OHO as well. So you do need to be disclosing
your gains on crypto. And even if you swap from
(06:15):
bitcoin to e theorem for example, that's a transaction, right,
that's like selling p HP and buying rio, right, So
you do need to report that you can't get away with.
Speaker 3 (06:26):
Can't away with much, can't get away with much any Yeah,
I know there's a lot of coverage of what we're doing.
Speaker 2 (06:30):
We know where you are. I reckon.
Speaker 1 (06:32):
This is one of those things though, that you know
in yourself.
Speaker 3 (06:37):
Yeah, do you reckon? I can?
Speaker 1 (06:39):
No, you can't.
Speaker 2 (06:40):
And if you have to ask, like you've just done, yes,
probably probably know.
Speaker 1 (06:45):
If you get a little grid on your face when
you're thinking I wonder if I could, probably.
Speaker 2 (06:48):
It's probably, you know, and you're really more than ever
now you just can't get away with it. The tax
office has so much going for it in terms of
getting in front of you and the pain and the
penalties and the.
Speaker 3 (07:02):
Stress embarrassment as well. If you get nabbed and you
haven't got the receipts.
Speaker 2 (07:06):
You've got them coming in once they're in, so they
might come and see you for I don't know, some
sort of a three hundred dollar deduction that you don't
have a receipt for. Once they're in your business, they
are in, and so they will then look at everything. Yep.
So you don't want to let the time. Don't give it.
They've got the time. It is their job, and you
(07:27):
don't want to give it.
Speaker 1 (07:27):
And they love it. That's what you don't want to
What is it they say about wrestling with pigs?
Speaker 5 (07:32):
But you get dirty and the picture do it very
carefully on that note, Actually, we're going to be opening
up the text line and the phones here, so can
I throw just very quickly before you go sunglasses if
I'm seeing it the red hot summer tour.
Speaker 2 (07:48):
No, look at his face. Maybe sunscreens okay, sunscreen happen
in their No even you, even even if you've got
all dress code at work, which everyone does. That's not deductor.
You've got to be really, really careful. That's the overarching message.
The other one is, what were the two golden rules?
(08:10):
I don't lie. You don't lie. You have to spend
the money you.
Speaker 1 (08:14):
Have the worker, it's got to be work related.
Speaker 2 (08:16):
Well done, LUSA, I'm not so well done. I'm glad
you did the test coming in
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