Aussies could be leaving hundreds or even thousands of dollars in tax deductions on the table because they forget to claim everything they are entitled to. Taxpayers will be able to lodge their returns with the Australian Taxation Office (ATO) from next month.

New research from Xero found more than 51 per cent of Aussies were confused about what they can and can’t claim. That’s despite about 58 per cent of people making purchases in the last financial year to claim them as tax deductions.

Tax advisor Kiki, known as Tax Tips and Tricks online, has shared with Yahoo Finance the five most commonly overlooked tax deductions and how you could use them to maximise your refund.

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1. Membership subscriptions

One of the common tax deductions people tend to miss is subscriptions.

You can claim the cost of subscriptions that you use for work, such as subscriptions to magazines and journals associated with your job, or subscriptions for things like LinkedIn Premium if used for professional purposes.

“ChatGPT subscriptions is an example. If you are required to use it for work and provided your employer is not already providing this, it may be tax deductible provided you have apportioned it between work and personal usage,” Kiki, who has an accounting degree and Masters of Tax Law, explained.

Kiki said it was important to use common sense, so things like Netflix subscriptions won’t generally be tax deductible unless it is related to your job.

2. Rental property expenses

There are a number of rental property expenses that are tax-deductible, but some commonly missed ones are management fees and depreciation reports.

“For rental properties, if they for example want to get a depreciation report, they’d be better off doing it before June 30 and pay for it because the cost of the depreciation report is also tax deductible,” Kiki said.

Other costs include repairs and maintenance such as gardening, pest control, end-of-lease cleaning, and servicing for things like smoke alarms. Letting fees and finance fees are also tax-deductible.

3. Cost of tax affairs

If you paid for a professional to complete your tax return, you can claim a deduction for this.

“If you were to engage a tax accountant or tax adviser to help you with your tax affairs, any fees you pay them is tax deductible in the year that you pay them,” Kiki said.