AUTHOR

Penny Offset
Advisor
Personal Tax Experience
RSM Australia

A newly identified deduction acknowledges the mental and emotional strain Australians experience during tax time.

Tax time can be stressful. For many Australians, completing a tax return without professional support can lead to confusion, anxiety and significant emotional strain.

In response to growing concerns around the impact of tax complexity on individual wellbeing, a newly identified tax deduction has emerged, one that recognises the emotional damage caused by doing your own taxes.

The deduction considers the cumulative stress associated with interpreting tax legislation, understanding eligibility criteria, navigating deductions and meeting compliance obligations. 

Symptoms may include frustration, lost sleep, decision fatigue and an ongoing fear of “getting it wrong”.

 What does the deduction cover? 

The deduction applies to emotional and mental strain directly linked to preparing and lodging your own tax return, including:

  • Stress caused by complex tax rules and changing legislation
  • Anxiety related to accuracy, audits or penalties
  • Time‑related pressure and cognitive overload during tax season

 IMPORTANT INFORMATION 

 

April Fools.

While a deduction for emotional damage doesn’t (yet) exist, the stress of doing your own taxes is very real and it’s one of the most common reasons people seek professional advice.
 
The good news? There are legitimate ways to make tax time easier, reduce risk and gain clarity.
 
Our tax specialists regularly share practical insights, updates and guidance to help you navigate tax season with confidence.
 

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