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University Challenge: Top Tax Tips For Uni Students

March 7, 2023 – 3 min read

When you’re a student, every dollar counts. That’s why the end of the financial year (EOFY) is an important opportunity to take a look at your finances and see if there are ways to save money. For a bigger refund, some students can claim a range of education-related expenses on their tax return. But no matter your study status, The Good Guys EOFY Sale is a great opportunity to grab a bargain on essential tools like laptops and noise cancelling headphones.

So, how can you get the most out of your student tax return – and give your study set-up a much needed upgrade at the same time? Finance expert Katie Cunningham has a few handy tax tips to share.

Want to make the most of Uni Deals 2023? Check out our student offers and EOFY tips here

University Tax Return: Are You Eligible?

Any university student who has had tax collected from their pay is eligible for a tax return. In fact, if you’re just working casually or part time around your study, you could be in for a nice refund. That’s because Australian residents don't pay tax on the first $18,200 of their income – this is called the ‘tax-free threshold’. If your earnings are under that threshold, you’ll get back any tax you’ve had deducted from your pay during the year – hooray!

"Any university student who has had tax collected from their pay is eligible for a tax return. In fact, if you’re just working casually or part time around your study, you could be in for a nice refund."

What Can Uni Students Claim On Tax Returns?

If what you’re studying relates to your current occupation, you’re eligible to claim what the government calls ‘self-education expenses’.

For instance, if you’re already working as an engineer but go back to university to get a master’s degree in your field, you would be eligible to claim education expenses. The same applies if you’re an apprentice hairdresser studying at TAFE while you work in a salon.

Eligible students will be able to claim a whole range of stuff – including computer costs, textbooks, stationary and travel expenses during things like university field trips. You can even claim the decline in the value of the cost of your computer years after you bought it.

There’s a long list of items for eligible students to claim, so head to the ATO website to check them all.

What Can’t Uni Students Claim On Tax?

While there’s plenty of things eligible students can claim, a few categories are off the table. You can’t claim any contributions to loan schemes like your HECS. You also can’t claim the cost of accommodation and meals associated with day-to-day living expenses while you study.

Why It Pays To Upgrade At Tax Time

Whether or not you’re set for a sizeable tax return this year, all students can benefit from taking advantage of The Good Guys EOFY Sale. With great deals on a range of products, it’s the best way to get a bargain and upgrade your study set-up.

If you’re an eligible student (remember, that means studying in the field you already work in), you can claim computers and accessories like keyboards and mice on tax. Just be sure to hang onto your receipts.

Top Buys For Under $1000

Need to boost your study set-up? Try these top ideas:

For a high-powered but inexpensive laptop, you could grab the HP 15.6" i5 8GB 256GB Laptop, which has the tech specs to help it run like a dream.
Or, if you already have a desktop computer at home and just need something to take notes on in lectures, consider the Lenovo IdeaPad Flex 5 14" 2-in-1 Laptop. It has a keyboard for easy typing on-the-go but converts to a tablet for when you’re off the clock.
Whatever your set-up, you’ll benefit from a Microsoft Compact Bluetooth Mouse, which works on a variety of surfaces using Bluetooth. Bring it with you to uni for effortless scrolling, whether you’re in the library, lecture hall or cafe.

Top Buys For Over $1000

If you’ve got a healthy tax refund coming your way and want to upgrade your tech, there’s plenty of savvy ways you could spend.

The Apple Macbook Air is a favourite for a reason; and with a weight of just 1.29 kilograms, it’s easy to carry around between classes.
If you’re studying something creative like design or video editing, you may want to invest in Apple’s top-of-the-range 24” iMac desktop computer for a wide screen and the best in performance.

Don’t forget to check out our Uni Deals 2023 page for all the EOFY tips and tricks.

Need help deciding the best way to upgrade your study technology? See us in-store or online for great deals and expert advice on computers, monitors, software and accessories.