I Know I can claim work related clothing on my tax return, but what percentage do i get back?

Question

I Know I can claim work related clothing on my tax return, but what percentage do i get back?

Answer 1

The percentage depends on which tax bracket you fall into.

Why?

This is because the "work related clothing" will reduce your assessable income - and then - and only then - your tax is calculated.

So say your total salary is $180,000 - your work related clothing is $500 - the income tax liability will be calculated on the $179,500 (being 46.5% bracket) - so ... you basically "get 46.5% back" (using your words).

But say your salary is $50,000 - your work related clothing is $500 - the income tax liability will be calculated on $49,500 (being 30% bracket) - so you basically "get 30% back".

And say your salary is $5,500 and your work related clothing is $500 - the income tax liability will be calculated on $5,000 (being 0% bracket) - so... you get zero percentage (again using your words)

Hope the above helps in giving you some ideas...